12.1. General reserve is created from time to time by transferring profits from retained earnings and can be utilised for the purpose such as dividend payout, bonus issue, etc..

12.2. Revaluation reserve considered as part of retained earnings on Ind AS transition date (April 1,2016) in terms of Ind AS 101 may not be available for distribution of dividend.

12.3. Retained Earnings disclosed above includes items of other comprehensive income / (loss).

13.1 Refer Note. 16(b) for current maturities of Non - Current Financial liabilities - borrowings.

13.2 Security details for borrowings in Note 13,1 and 16(b)

(a) Loan for acquisition of capital assets under deferred payment scheme is secured by hypothecation of related capital assets and guaranteed by Managing Director.

(b) The loan sanctioned of Rs. 1,383.00 Lakhs from the bank for acquisition of Land & building -Head office and secured by the said property was fully discharged. However, satisfaction of the charge to be filled with the Registrar of companies is pending receipt of 'satisfaction' letter from the Bank. 'No due' certificate has, however been obtained from the bank and steps have been initiated to file the satisfaction of charge.

13.3 For other terms of the borrowings; Refer Note 50.

13.4 Registration / Modification of charges has been registered with the relevant Registrar of Companies within the period prescribed under Sec. 77 of the Companies Act, 2013 read with the first proviso thereof except as detailed in 13.2(b)

16.1 Security details:

- Cash credit facility is secured by first charge on the book debts and other movable assets of the company both current and future, land and structures thereon at Container Freight Station.

16.2 The company has been sanctioned working capital limits in excess of five crores, in aggregate, by banks or financial institutions on the basis of security of current assets and the quarterly returns or statements, as revised, filed by the company with such banks or financial institutions are materially in agreement with the books of account of the Company

16.3 The Company has not been declared as wilful defaulter by any bank or financial institution or other lender.

16.4 The Company has used the borrowings from banks and financial institutions for the specific purpose for which it was taken.

16.5 The above loan from bank is a working capital loan repayable on demand.

16.6 Security and other details for current maturities of long term debt: Refer Note 13.2 and 13.3.

17.1 The Company has not received any intimation from ’’suppliers” regarding their status under the Micro, Small and Medium Enterprises Development Act, 2006 and hence disclosures if any, relating to amounts unpaid as at the year end together with interest paid / payable as required under the said Act have not been furnished.

17.2 Trade payables mentioned above are carried at amortised cost.

17.3 Trade payables ageing schedule for March 31, 2025 and March 31, 2024:

24.1 Contribution to Defined Contribution Plans, recognised as expense for the year is as under:

a) Employer's Contribution towards provident fund Rs. 55.57 Lakhs (2023-24 Rs. 56.32) and towards Employee Deposit Linked Insurance Rs. 10.24 lakhs (2023-24 Rs. 10.72 lakhs).

b) Employee's welfare expenses includes contribution to Employee's State Insurance Plan Rs. 3.78 Lakhs (2023-24 4.66 Lakhs).

30 No deferred tax asset on immovable property is recognised during the year given that lands may never be sold or sold in the very distant future by which time either tax laws may have changed or the company may have tax losses with the benefit of indexation not being realised.

31. Unrecognised deductible temporary differences, unused tax losses and unused tax credits (including that are recognised in Note 15(c))

32. Events after the Reporting Period

The Board of Directors have recommended dividend of Rs. 2.70 per fully paid up equity share of Rs. 10 each, aggregating Rs. 48.60 lakhs for the financial year 2024-25. The actual dividend amount will be dependent on relevant share capital outstanding as on the record date / book closure.

34. Segment information - The Company is principally engaged in a single business segment viz. Logistics based on nature of service, risks, returns and the internal business reporting system. The Board of Directors of the Company, which has been identified as being the Chief Operating Decision Maker (CODM), evaluates the Company's performance, allocate resources based on the analysis of the various performance indicators of the Company as a single unit. Accordingly, there is no other reportable segment in terms of Ind AS 108 'Operating Segments. The Company is domiciled in India. Information about entity wise disclosure as mandated under Ind AS 108 is as follows:

Notes :

1. The company has received indirect tax demand of Rs. 172.68 Lakhs (as at March 31,2024 - Nil) on account of differences in forms filed and on account of differences in rates adopted. In respect of these matters, the company is in appeal against these dissallowances before the appellate authority. The company believes that its position is likely to be upheld by the appellate authority and considering the facts, the ultimate outcome of these proceedings is not likely to have material adverse effect on the results of operation or the financial position.

2. Others include a gross claims of Rs. 414.55 lakhs during an earlier year by a customer jointly on the company, the insurers and the transporters for damage to imported goods/machinery transported. The claim is being contested and the probable individual outflow of resources is not ascertainable

3. Future cash outflows in respect of above are determinable only on receipt of judgement / decisions pending with various forums / authorities.

40.1 Leases

The Company has adopted IND AS 116 Leases with effect from 1st April, 2019. The lease arrangements subsisting as on date and eligible for recognition as Right of Use Asset under IND AS 116 is disclosed in Note no:1B All other lease arrangements as date are either Low value asset or short term leases (which are covered by exemption in Ind AS 116) and accordingly the lease rentals are recognised as expenses in the Statement of Profit and loss. The following are the disclosures in terms of IND AS 116:

Lease terms are negotiated on an individual basis and contain a range of different terms and conditions. The lease agreements do not impose any covenants other than that the company cannot provide the leased premises as security for its borrowings etc, nor can it be subleased without the permission of the lessor.

The lease payment are discounted using the company's incremental borrowing rate @ 9% - 12.95% being the rate that the company would have to pay to borrow funds necessary to obtain as asset of similar value to ROU asset in a similar economic environment with similar terms, security and conditions.

The Company has taken assets on lease from Various lessors. In terms of the Ind As 116, the company has adopted 'modified retrospective approach' and has recognised the 'Right of Use'(ROU) asset as the present value of unpaid lease payments and depreciated the same considering the lease term.

All other assets taken on lease by the Company has a lease term of 12 months or less (short term lease) and the Company has elected not to apply the requirements of the new standard to the same. Accordingly, there is no impact of the Ind As 116 on the results of the period with respect to short term leases.

Leasing arrangements

Operating leases related to leases of land with remaining lease term ranging from 26 months to 27 months.

41. Corporate Social Responsibility (CSR) Obligation:

The provisions of section 135 of the Companies Act, 2013 (Act) are not applicable for the financial years ended March 31, 2025 & March 31, 2024 due to non-applicability of conditions mentioned in sub-section 1 of section 135 of the Act.

42. Foreign Currency Transactions

Foreign exchange and foreign currency transactions and derivatives - (i) Imports - Rs. 102.09 Lakhs (2023-24 Rs. 44.76 lakhs); (ii) Other expenditure (charge to P&L) in foreign currency Rs. 2.92 Lakhs (2023-24 Rs. 0.25 lakhs); (iii) Other earnings in foreign exchange Rs. Nil (2023-24 Nil lakhs) ; (iv) There was no remittance in foreign currencies on account of dividend to non-resident shareholders; (v) Derivatives - Company has not so far used derivative financial instruments such as forward contracts, currency swap to hedge currency exposures, present and anticipated. However, currency exposure not hedged by derivative instruments are as under:

Amount receivable on account of services rendered, advances, etc. USD 5,872.48 equivalent to Rs. 5.02 Lakhs (March 31,2024 - USD 5,344.84 equivalent to Rs. 4.46 Lakhs); Amount payable on account of services obtained Rs. Nil (March 31, 2024 USD 9,956.07 equivalent Rs. 8.30 lakhs)

(d) Trade receivables are non-interest bearing and are generally on terms of “Cash and Carry”. Contract assets are an entity's right to consideration in exchange for goods or services that the entity has transferred to a customer when that right is conditioned on something other than the passage of time (for example, the entity's future performance).

46. Financial risk management objectives and policies

The Company's principal financial liabilities, comprise of loans and borrowings, trade and other payables. The main purpose of these financial liabilities is to finance the Company's operations and to provide guarantees to support its operations. The Company's principal financial assets include loans, trade and other receivables, and cash and cash equivalents that derive directly from its operations.

The Company is exposed to market risk, credit risk, and liquidity risk. The Company's risk management is undertaken by the senior management.

(A) Market risk

Market risk is the risk that the fair value of future cash flows of a financial instrument will fluctuate because of changes in market prices. Market risk comprises three types of risk: interest rate risk, currency risk and other price risk. Financial instruments affected by market risk include Long term borrowings, Advances and deposits.

(i) Foreign currency risk

Foreign currency risk is the risk that the fair value or future cash flows of an exposure will fluctuate because of changes in foreign exchange rates. The Company's exposure to the risk of changes in foreign exchange rates relates primarily to the Company's operating activities (where revenue or expense is denominated in a foreign currency). The value of foreign currency exposed risk is not material.

Movement in the functional currencies of the various operations of the Company against major foreign currencies may impact the Company's revenues from its operations. The following table details the Company's sensitivity movement in the foreign currencies. The foreign exchange rate sensitivity is calculated for each currency by aggregation of the net foreign exchange rate exposure of a currency and a simultaneous parallel foreign exchange rates shift in the foreign exchange rates of each currency by 2%. This 2% represents management's assessment of the reasonably possible

change in foreign exchange rates. The sensitivity of profit or loss to changes in the exchange rates arises mainly from foreign currency denominated financials instruments. In management's opinion, the sensitivity analysis is unrepresentative of the inherent foreign exchange risk because the exposure at the end of the reporting period does not reflect the exposure during the year.

(ii) Interest rate risk

The Company is exposed to interest rate risk pertaining to funds borrowed at both fixed and floating interest rates. The risk is managed by the Company by maintaining an appropriate mix between fixed and floating rate borrowings

The sensitivity analysis below has been determined based on the exposure to interest rates at the end of the reporting period. For floating rate liabilities, the analysis is prepared assuming that the amount of the liability as at the end of the reporting period was outstanding for the whole year. A 25 basis point increase or decrease is used when reporting interest rate risk internally to key management personnel and represents Management's assessment of the reasonably possible change in interest rates. If interest rates had been 25 basis points higher/ lower, the Company's profit for the year ended March 31,2025 would decrease/ increase by Rs.0.16 lakhs (2023-24: decrease/ increase by Rs. 0.21 lakhs). This is mainly attributable to the Company's exposure to interest rates on its variable rate borrowings.

(iii) Other Price risk

There is no security price risk since there is only investments in an wholly owned subsidiary.

(B) Credit risk

Credit risk is the risk that counterparty will not meet its obligations under a financial instrument or customer contract, resulting in a financial loss to the Company. Credit risk arises from outstanding trade receivables and from its financing activities, including deposits with banks and institutions and investments.

Customer credit risk is managed by each business unit/division based on the Company's established policy, procedures and control relating to customer credit risk management. Credit quality of a customer is assessed and individual credit limits are defined in accordance with this assessment. Outstanding customer receivables are regularly monitored. The Company has customer base across diverse industries.

An impairment analysis is performed at each reporting date on an individual basis for major clients. In addition, a large number of minor receivables are grouped into homogenous groups and assessed for impairment collectively. The Company makes an allowance for doubtful debts using expected credit loss model and on a case to case basis. The Company evaluates the concentration of risk with respect to trade receivables as low, as its customers are located in several jurisdictions and industries and operate in largely independent markets.

(C) Capital management

For the purpose of the Company's capital management, capital includes issued equity capital, share premium and all other equity reserves attributable to the equity holders of the Company. The primary objective of the Company's capital management is to maximise the shareholder value.

The Company's objective when managing capital are to ensure their ability to continue as going concern, so that they can leverage maximise returns for shareholders and benefits of other stakeholders; and to maintain an optimal capital structure to reduce cost of capital. Capital management and funding requirements is met through equity, internal accruals and long and short term debt instruments. The Company monitors capital management though gearing ratio which considers Debt (net of cash and cash equivalents) and equity.

In order to achieve this overall objective, the Company's capital management, amongst other things, aims to ensure that it meets financial covenants attached to the interest-bearing loans and borrowings that define capital structure requirements.

(D) Liquidity risk

The Company's objective is to maintain a balance between continuity of funding and flexibility through the use of bank overdrafts and bank loans . Rs. 235.74 lakhs of the Company's borrowing will mature in less than one year at 31 March 2025 (31 March 2024: 287.77 lakhs) based on the carrying value of borrowings reflected in the financial statements. The Company has obtained fund and non-fund based working capital limits from banks. The Company invests its surplus funds in bank fixed deposit which carry minimal mark to market risks.

Post Employment Obligations:

47.1 Defined Contribution plan

The Company has certain defined contribution plans. Contributions are made to provident fund in India for the employees at the rate of 12% of the basic salary as per regulations. The contributions are made to registered provident fund administered by the government. The obligation so the company is restricted to the amount contributed and it has no further contractual or constructive obligation. The expense recognised during the period towards defined contribution plans Rs. 55.57 (FY 2023-24 Rs. 56.32 lakhs).

47.1 Defined benefit plans Gratuity -

In respect of Gratuity plan, the most recent actuarial valuation of the plan assets and present value of the defined benefit obligation were carried out as at March 31,2025. The present value of the defined benefit obligation, and the related current service cost and past service cost, were measured using the projected unit credit method. The following table sets forth the status of Gratuity Plan of the Company and the amount recognised in the Balance Sheet and the Statement of Profit and Loss. The Company provides the Gratuity Plan of the Company and the amount recognised in the Balance Sheet and Statement of Profit and Loss. The Company provide the gratuity benefit through annual contributions to a fund managed by the Life Insurance Corporation of India (LIC). The amount of gratuity payable on retirement/termination is the employees last drawn basic salary per month computed proportionately for 15 days salary multiplied for the number of years of service.

51. No funds have been advanced or loaned or invested (either from borrowed funds or share premium or any other sources or kind of funds) by the Company to or in any other person(s) or entity(ies), including foreign entities (“Intermediaries”) with the understanding, whether recorded in writing or otherwise, that the Intermediary shall lend or invest in party identified by or on behalf of the Company (Ultimate Beneficiaries). The Company has not received any fund from any party(s) (Funding Party) with the understanding that the Company shall whether, directly or indirectly lend or invest in other persons or entities identified by or on behalf of the Company (“Ultimate Beneficiaries”) or provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries.

52. The Company has not provided any guarantee or security or granted any advances in the nature of loans, secured or unsecured, to companies, firms, Limited Liability Partnerships or any other parties.

53. The Company has not accepted any deposit or amounts which are deemed to be deposits.

54. There were no transactions relating to previously unrecorded income that have been surrendered or disclosed as income during the year in the tax assessments under the Income Tax Act, 1961 (43 of 1961).

55. The company did not had any transactions with companies struck off under section 248 of the Companies Act, 2013 or section 560 of Companies Act, 1956,

56. The Company has not traded or invested in Crypto Currency or Virtual Currency during the financial year

57. The company has complied with the number of layers prescribed under the Companies Act, 2013 read with Companies (Restriction on number of Layers) Rules, 2017.

58. The Code on Social Security, 2020 ('Code') relating to employee benefits during employment and post-employment benefits received Presidential assent in September 2020. The Code has been published in the Gazette of India. However, the date on which the certain provisions of the Code will come into effect and the rules thereunder has not been notified. The Company will assess the impact of the Code when it comes into effect and will record any related impact in the period the Code becomes effective.

59. Figures for the previous year have been re-grouped / re-classified wherever necessary to conform with current year classification.