Cox and Kings IPO Note

Research report by 'Ventura Securities Ltd'
     
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Cox & Kings (India) Ltd which is having a strong brand image offers a ‘one stop shop’ for business and leisure travel along with forex & visa processing services. It also offers destination management and ground handling services for foreign tourists visiting India.

Key Investment Highlights

Revenue growth despite declining Industry trends
Despite last year’s declining trends, Cox & King’s managed to not only grow its revenues but also improve on its operating margin and profits. For the year ending 2009, the top line of the company has grown by 57.6% from 182.1 crores in FY08 to 286.9 crores in FY09. The bottom line has also grown by 47.4% from 42.6 crores in FY08 to 62.8 crores in FY09. In addition, Cox & King’s strong domestic market position helped by improving discretionary spends by Indian consumers and its newly acquired presence in high potential markets of the US and Australia offers bright growth prospects.


   
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