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The world is beautiful; tourism has made it so. For competing in this world which is full of opportunities one has to continuously strive for excellence, reinvent process and be agile. We at Cox & Kings Limited see immense opportunities for our Travel services across the globe and would continue our focus on moving towards being a high quality global Travel Service Provider.
During the course of a 252 years in business, Cox & Kings Limited has successfully adjusted to the rapid changes and ongoing challenges associated with competing in the global high technology market place. We have been moving forward aggressively on many fronts to capitalize on rapid growth opportunities, to improve our operational efficiency and to sharpen our services portfolio focus.
We must always be prepared to quickly adapt to market realities, enhance technology leadership positions, anticipate future trends, and adopt and execute business strategies to bolster our competitive position.
At Cox & Kings, we run our business by three simple rules:
Deliver world-class solutions for our clients
Provide great careers for our colleagues and
Build meaningful value for our stakeholders who have invested their trust in us.
These principles (and a lot of hard work) have enabled Cox & Kings to scale over 250 years from start-up to a leading player in the Travel & Tourism Services space and the growth has been multifold.
Last financial year was a historic one for Cox & Kings wherein our shares were listed on 11th December 2009 at the Bombay Stock Exchange Limited (BSE) and National Stock Exchange of India Limited (NSE) & our new acquisition globally. This was just the beginning of Cox & Kings vision of being a global corporation.
I have always believed that people are the biggest asset of any organization. While building my team, I have always looked for individuals who have a passion to excel and a never give up attitude.
One of the primary goals for Cox & Kings is to create a stable work environment that emphasis on member commitment through continuous investment in learning and development, competitive compensation through encouragement by way of reward and recognition mechanisms built on the core values of teamwork, integrity and achievement. Members have a voice in the company and their inputs are recognized.
We believe that through these measures we can foster an environment where our members will flourish and can best apply their great skills and creativity to achieve the common goals of Cox & Kings Limited.
I strongly believe that satisfied customers, motivated human Resource and valuable investors are the three pillars on which the edifice of any organization is based.
Cox & Kings seeks additional opportunities to continue expanding its pipeline by:
Maintaining an un-impeccable standard of integrity in all their business relationships both inside and outside the organization.
Fostering the highest standards of professional competence
Rejecting any business practice which might reasonably be deemed improper.
As we advance towards future, I expect to see Cox & Kings continue to grow with innovative technology which would be cost effective and of great corporate value. By the optimal utilizing our resources: members, technologies and creativity which is driven along with team spirit, we would continue with our focus on technology innovation and product development that would contribute to cultural and social progress.
With the guidance of our Board, efforts of our associates and members, capabilities of our managers and support of our stakeholders, I am confident we would continue to work towards our vision, take up new challenges and steer our organisation to unprecedented heights.
In lieu of the above I am pleased to share with you our corporate handbook. I hope you will find this handbook useful in understanding our organization. I wish you the very best and have a long, enjoyable and prosperous career with us.
Indian CEO and Director
Cox & Kings Limited
Welcome Message from Global Head HR
Welcome to the World of HRconnect.
I am delighted to announce the Go-Live of "HRconnect" - the Employee Self Service Portal.
It is my privilege to be a member of the Cox & Kings Global Human Resources Team, the first to implement ERP in the company.
We would like to take this opportunity to express our thanks to Peter Kerkar, Urrshila Kerkar, Pesi Patel, heads of companies across the globe and Viral Gandhi and the IT team.
A special mention for Urrshila whose vision & passion for building a company of the future and optimizing on technology, encourages each of us to shift our paradigms from today to tomorrow.
All the best navigating HRconnect, apologies for the first time glitches and we commit to endeavour to improving the quality of your experience.
Global Head - HR
Statement of Corporate Philosophy
Our goal is to be the most responsive and detail-oriented organization, of any kind, with whom our clients come into contact. As we are in Travel & Tourism services, it is the level of service we provide our clients that sets us above our competitors. It begins with the way we communicate and continues with the way we treat every client's interest with a sense of commitment and urgency.
By providing an unequalled level of service we will continue to attract and retain clients and ensure the continued success of our Company.
About the Company
Richard Cox 1718-1803, founder of Cox & KingsCox & Kings is the longest established travel company in the world. Its distinguished history began in 1758 when it was appointed as general agents to the regiment of Foot Guards in India under the command of Lord Ligonier.
By 1878, C&K were agents for most British regiments posted overseas, including the Royal Cavalry, Artillery and Infantry, as well as the Royal Wagon Train and theHousehold Brigade. The Royal Navy was next and in 1912, The Royal Air Force came under its wings.
Between 1750's and 1950's, Cox & Kings was witness to an exciting era in Indian history, and, in its own way, helped to shape it. During the 1930s, Lloyds sold their Indian interests to Grindlays Bank who also took the Travel and Shipping Agencies also which continued to flourish in India. When a change in British banking regulations meant Grindlays had to sell off non-banking interests, a partnership between Ajit Kerkar and Anthony Good bought Cox & Kings. The company remains independent to this day and is run by CEO Peter Kerkar. In 1947, the British administration departed, but bound by strong ties to India, Cox & Kings stayed on and flourished. Today, Cox & Kings is a premium brand in all travel related services in the Indian subcontinent, employing over 1300 trained professionals.
Its India operations are headquartered in Mumbai and have the status of a limited company. It has over 12 fully owned offices in India across key cities such as New Delhi, Chennai, Bangalore, Kolkata, Ahmedabad, Kochi, Hyderabad, Pune, Goa, Nagpur and Jaipur.
The worldwide offices are located in UK, USA, Japan, Russia, Singapore and Dubai. It has associate offices in Germany, Italy, Spain, South Africa, Sweden and Australia.
Cox & Kings purchased Tempo Holidays; a Melbourne based wholesale travel company in July 2008.
Cox & Kings purchased Bentours (based in Sydney, Australia), previously owned by UK giant TUI, in January 2010. Bentours would "continue to operate as a standalone brand" but would "be controlled by Cox & Kings Australia's office in Melbourne" according to Cox and Kings Australia CEO Steve Reynolds.
"Nothing will ever be attempted if all possible objections must first be overcome."
The Company had come out with Initial Public Offering of its shares in December 2009. The issue was over-subscribed by 5.64 times. The Company's shares were listed on 11th December 2009 at the Bombay Stock Exchange Limited (BSE) and National Stock Exchange of India Limited (NSE).
The Company's shares are currently traded on Bombay Stock Exchange Limited (BSE), and National Stock Exchange of India Limited. The Company's GDRs are listed on the Stock Exchange at Luxembourg.
Name of the Stock Exchange
National Stock Exchange of India Limited
Bombay Stock Exchange Limited
Luxembourg Stock Exchange
For further information please visit our web site www.coxandkings.com where you will find the overview about the company as well as the latest financial information.
Group Vision and Mission Statement
"To be a globally respected organization, delivering best travel services, using innovative insights, delivered by best in class people."
To delight our customers with the most exciting value for money holidays.
To reward our shareholders with a sustainable high growth asset.
To enthuse our staff by providing a challenging, fun, and rewarding working environment.
Change of Name
In the past few years, your Company has expanded its business across many countries and has now attained the status of being a global company with significant presence in various Countries. To reflect its true status, the name of your Company has changed to Cox & Kings Limited. A fresh Certificate of Incorporation was received from the Registrar of Companies dated 29th July 2010 pursuant to the change of name of the company from Cox and Kings (India) Limited to Cox & Kings Limited.
Our Competitive Strengths
Strong Brand Equity
Our brand has evolved over a period of 250 years and is one of the oldest brands in the Travel & Tourism industry today. "Cox & Kings" was ranked #1 Top Brands in India and ranked 152 amongst Top 1000 Brands in the Asia Pacific region in 2008. The ranking is based on a survey conducted by a research agency TNS and co-funded by Media magazine across the markets of 10 countries in the Asia Pacific. We are recognized as a strong brand both locally and internationally.
The C&K Advantage
Best Brand for over 250 years and been operational non-stop since 1758.
One Stop Travel Fulfillment Center (Online as well as Offline Fulfillment) for all Travel Related Services including a range of third party products
Integrated Information Technology Platform to offer centralized reservation systems for all business units
Excellent Supplier Contracting Terms & Capabilities
Strong online Presence
Timely & Accurate MIS
Support via BPO & Call Centers
Innovative Products Design and Creative Marketing
Global Shareholder of Radius
The principal services offered by the company are:
Incentive & Conference Solutions
Cox & Kings is India's market leader in destination management, with substantial competitive advantage in this business segment. Cox & Kings operates a range of group and individual tours to destinations throughout the Indian subcontinent for clients from all over the world. Cox & Kings overseas is a renowned travel brand and an Indian subcontinent tour specialist and been quoted as one of the top 5 premium tour operators by 'Conde' Nast Traveller'. This division also provides specialist services to foreign participants visiting India for international meetings, conferences, ad hoc incentives and exhibitions and also caters for domestic conferences and corporate incentives. Ground related services to international cruise companies touching Indian shore with a provision of shore excursions are other leading activities of this division.
India is one of the largest potential outbound tour markets in Asia. In 1995, Cox & Kings began a full-fledged in house tour operating activity by designing its own brochure product under exclusive arrangements with direct suppliers and local agents across the globe. Cox & Kings has been undertaking path-breaking initiatives to reach out to the travelers through innovative products. These include:
'Duniya Dekho' Holidays to Europe, USA, Far East, South Africa, Mauritius, Australia and New Zealand. For the "value for money" traveller
'FlexiHols' is a concept in holidaying where the traveller enjoys all the comforts and convenience of a planned holiday but at a pace & price that is set by him. This is targeted at the more discerning Free Individual Traveller
Luxury Escapes - It takes a travel company that has been round for two hundred years, to know everything about royal treatment. Cox & Kings rolls out a whole new concept in Holidays - Luxury Escapes. Spoil yourself. Get pampered rotten. Holiday like a king. Join us as we unveil country after country laced with sinful indulgence and fine living. The finest luxury hotels in the world to the most exclusive entertainment experiences await you.
Cox & Kings also represents and retails many international third party products including Cosmos, Rail Europe, Silversea Cruises, Star Cruise, and Escorted Tours to USA etc.
NRI - The NRI Division of Cox & Kings caters to the Non Resident Indians who would like to travel around the world with Indian families. Cox & Kings organises special tours for these families where the NRI community would like to travel with like-minded families across the world. Duniya Dekho & FIT Packages are specifically designed for this Market Segment by this division.
Cox & Kings are one of the market leaders in business travel services in India, offering a full range of business travel services to over 200 corporate clients, including major multinational companies. C&K's strength in this business area is evident when one of the world's largest conglomerate in business travel - Radius the First truly global travel management partnership/consortium with merger of Travel Trust International and Woodside Travel Management Corporation in 1992 selected Cox & Kings as their Indian partner.
C&K - Radius Overseas Travel Fulfillment Solutions through the Radius Brand
Leveraging the partnership with Radius, Cox and Kings can offer Travel Fulfillment Services to Corporate Clients who are having offices overseas or project teams working on site at their customers' site, through its Radius Shareholders in the respective overseas regions. All travel requirements will be controlled through the off shore 24 x 7 Travel Center based in Mumbai.
India with its large domestic consumer offers Cox & Kings a unique opportunity to launch its portfolio of 'domestic holidays' for people resident in India. Launched in 2000, 'Bharat Dekho' (see India) is today's leading 'branded' product in the country with a wide range of 'Indian Holidays' from cultural holidays, pilgrim holidays, wildlife holidays, honeymoon tours, weekend getaways, customized FIT Tours to nature trails, Bharat Dekho has captured over 50% of the domestic market.
Over 7000 incentives in the last 4 years makes Cox and Kings the biggest player in Incentives. The Incentive Solutions Division of Cox & Kings provides cost effective travel incentive schemes for clients that recognize and reward exceptional effort of its employees, customers, suppliers or dealers. A team of handpicked industry specialists committed to handling every aspect of an incentive / conference event are a part of this team.
The growing importance of MICE - Meetings, Incentives, Conferences and Exhibitions led to the launch of this division. The division has existing tie ups with various Chambers of Commerce and National Tourist Offices.
Cox & Kings has a full-fledged money changing division in Cox & Kings Offices servicing the needs of the corporate traveller and the leisure travel clients. A strong distributor of American Express Travellers' Cheques, Cox & Kings has been awarded 'Top Performer' for several years.
Policies for Leisure Domestic as well as International Travel and special Corporate Deals on Insurance covering an array of specialized travel areas, some of which are:
Loss of baggage (checked)
Bounced Hotel / Airline Bookings
Trip Cancellation due to hospitalization, death or curfew.
Emergency Hospitalization Death
High Technology Platform
Cox & Kings today deploys highest information technology platform in the Indian Travel Industry. It has developed totally integrated front, mid and back office solutions. This has brought about huge cost savings for the organisation, thus managing to offer 'quality' service to its customers at a great cost savings.
Mergers and Acquisitions
Your Company continued to pursue the strategy of acquiring businesses which complement our service offerings, provide access to niche skill sets and expand our presence in select geographies. In April 2009, we completed acquisition of East India Travel Company Inc, which is in the business of selling upmarket tour and travel packages in the United States of America. East India Travel Company Inc was acquired by our step-down subsidiary in UK, Cox & Kings Travel Limited. In December 2009, Cox & Kings (Australia) Pty Ltd, a wholly owned subsidiary of the Company has acquired 100% shares of My Planet Australia Pty Limited & Bentours International Pty Limited, through share sale agreement from First Choice Holdings Australia Pty Ltd, a European tourism group which is part of the TUI Travel Plc Group of Companies. The acquisition has been done through an earn-out mechanism.
The business of the acquired companies is currently trading under the brand MyBentours for its wholesale FIT & leisure groups to Scandinavia and has a wellestablished retail operation.
All the subsidiaries of the Company are unlisted and none of them are material unlisted subsidiaries as per Clause 49 of the Listing Agreement.
List of Related parties: Subsidiaries/Fellow Subsidiary
ETN Services Limited
Cox & Kings Singapore Pvt. Ltd. (Earlier known as "CNK Internet PTE. Ltd")
Cox & Kings Tours (L.L.C)
Cox & Kings Ltd.
Cox & Kings Travel Ltd.
Cox & Kings Japan Ltd.
Cox & Kings (Shipping) Ltd.
Cox & Kings Special Interest Holidays Ltd.
Cox & Kings Tours Ltd.
Cox & Kings Enterprises Ltd.
Cox & Kings Holdings Ltd.
Cox & Kings Investments Ltd.
Cox & Kings Finance Ltd.
Cox & Kings (Mauritius) Ltd.
Cox & Kings (Agents) Limited
C&K Investments Limited
Grand Tours Ltd.
East India Travel Company Inc, (with effect from 08th April, 2009)
Cox & Kings (Australia) PTY Ltd.
Tempo Holidays Pty Ltd.
Tempo Holidays NZ Ltd.
Quoprro Global Services PTE Ltd.
Quoprro Global Services Pvt. Ltd.
Quoprro Global Limited, UK (with effect from 28th August 2009)
Quoprro Global Services Pvt. Ltd, Hongkong (with effect from 28th August 2009)
Quoprro Global Hellas, Greece (with effect from 23rd July 2009)
Cox and Kings GMBH, (with effect from 22nd October 2009)
MyPlanet Australia Pty Ltd, Australia (with effect from 29th December 2009)
Bentours International Pty Ltd, Australia (with effect from 29th December 2009)
Tulip Star Hotels Ltd.
Enterprises over which Key Management Personnel and their relatives exercise significant influence
Far Pavilions Tours and Travels Pvt. Ltd.
Ezeego One Travel and Tours Limited
Ability to grow our product portfolio and add new destinations
C&K's results of operations are significantly dependent on ability to grow its product portfolio and add new destinations to leisure packages. C&K has entered into strategic partnerships with various travel partners to achieve this in the past. For example, it has partnered with the Royal Horticultural Society, the Natural History Museum and the John Lewis Partnership in the United Kingdom. C&K also has partnered with various tourism boards, such as those of South Korea and Finland to market these destinations to Indian travelers. These strategic partnerships have expanded C&K's product offerings and added new destinations to its portfolio, all of which