k) Provisions and Contingent Liabilities:

Provisions are recognized when the Company has a present obligation (legal or constructive) as a result of a past event,
it is probable that an outflow of resources embodying economic benefits will be required to settle the obligation and a
reliable estimate can be made of the amount of the obligation. When the Company expects some or all of a provision to
be reimbursed, for example, under an insurance contract, the reimbursement is recognized as a separate asset, but only
when the reimbursement is virtually certain. The expense relating to a provision is presented in the statement of profit and
loss net of any reimbursement.

If the effect of the time value of money is material, provisions are discounted using a current pretax rate that reflects, when
appropriate, the risks specific to the liability. When discounting is used, the increase in the provision due to the passage
of time is recognized as a finance cost.

Contingent Liabilities:

Contingent liability is:

(a) a possible obligation arising from past events and whose existence will be confirmed only by the occurrence or non¬
occurrence of one or more uncertain future events not wholly within the control of the entity or

(b) a present obligation that arises from past events but is not recognized because;

- it is not probable that an outflow of resources embodying economic benefits will be required to settle the
obligation or

- the amount of the obligation cannot be measured with sufficient reliability.

The Company does not recognize a contingent liability but discloses its existence and other required disclosures in
notes to the financial statements, unless the possibility of any outflow in settlement is remote

l) Retirement and other employee benefits:

Defined Contribution Plan

Retirement benefit in the form of provident fund and Employees’ State Insurance Corporation are defined contribution
schemes. The Company has no obligation, other than the contribution payable to the provident fund and Employees’
State Insurance Corporation. The Company recognizes contribution made under these schemes as an expense, when an
employee renders the related service. If the contribution payable to the schemes for service received before the balance
sheet date exceeds the contribution already paid, the deficit payable to the scheme is recognized as a liability after
deducting the contribution already paid. If the contribution already paid exceeds the contribution due for services received
before the balance sheet date, then excess is recognized as an asset to the extent that the pre-payment will lead to, for
example, a reduction in future payment or a cash refund.

Defined Benefit Plan

The Company operates a defined benefit gratuity plan in India. The cost of providing benefits under the defined benefit
plan is determined using the projected unit credit method.

Remeasurements, comprising of actuarial gains and losses, the effect of the asset ceiling, excluding amounts included in
net interest on the net defined benefit liability, are recognized immediately in the balance sheet with a corresponding debit
or credit to retained earnings through OCI in the period in which they occur. Remeasurements are not reclassified to profit
or loss in subsequent periods.

Past service costs are recognized in profit or loss on the earlier of:

> The date of the plan amendment or curtailment, and

> The date that the Company recognises related restructuring costs.

Net interest is calculated by applying the discount rate to the net defined benefit liability or asset. The Company recognises
the following changes in the net defined benefit obligation as an expense in the Standalone statement of profit and loss:

> Service cost comprising current service costs, past-service costs, gains and losses on curtailments and non-routine
settlements; and

> Net interest expense or income.

m) Cash and cash equivalents:

Cash and cash equivalent in the balance sheet comprise cash at banks and on hand and short-term deposits with an
original maturity of three months or less, that are readily convertible to a known amount of cash and subject to an
insignificant risk of changes in value.

For the purpose of the Standalone statement of cash flows, cash and cash equivalents consist of cash and short-term
deposits, as defined above, net of outstanding bank overdrafts as they are considered an integral part of the Company’s
cash management.

n) Statement of Cash flow:

Cash flows are reported using the indirect method, whereby profit / (loss) before extraordinary items and tax is adjusted for
the effects of transactions of noncash nature and any deferrals or accruals of past or future cash receipts or payments. The
cash flows from operating, investing and financing activities of the Company are segregated in the Cash flow statement.

o) Earnings per share (EPS):

Basic EPS amount is calculated by dividing the net profit for the year attributable to equity holders by the weighted average
number of equities shares outstanding during the year.

For the purpose of calculating diluted earnings per share, the net profit of the year attributable to equity shareholders and
the weighted average number of shares outstanding during the year are adjusted for the effects of all dilutive potential
equity shares.

p) Dividend:

The Company recognizes a liability to pay dividend to equity holders of the Company when the distribution is authorized,
and the distribution is no longer at the discretion of the Company. As per the corporate laws in India, a distribution is
authorized when it is approved by the shareholders. A corresponding amount is recognized directly in equity.

q) Rounding of amounts:

All amounts disclosed in the financial statements and notes have been rounded off to the nearest lakh as per the
requirement of Schedule III, unless otherwise stated.

r) Estimates and assumptions

The key assumptions concerning the future and other key sources of estimation uncertainty at the reporting date, that
have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next
financial year, are described below. The Group based its assumptions and estimates on parameters available when the
consolidated financial statements were prepared. Existing circumstances and assumptions about future developments.

2.3 Changes in accounting policies and disclosures

New and amended standards

There are no new and amended standards issued that is applicable to the company.

Notes

1. Loans are non-derivative financial assets which generate a fixed interest Income for the Company and are measured at
amortised cost. The Carrying value may be affected by the changes in the credit risk of the counterparties.

2. No loans receivable are due from directors or other officers of the company either severally or jointly with any other person,
nor any loans receivable are due from firms or private companies respectively in which any director is a partner, a director
or a member.

3. Non - Current loans to related parties pertain to funds advanced for business purpose. The said loans are repayable as
per the repayment schedule; however, the management does not intend to recover the same next year. These loans carry
an interest rate of 7.31% per annum.

4. The maximum amount of outstanding loan to related parties in the year was Rs. 1,987.73

b) Terms/Rights attached to Equity Shares:

The Company has only one class of equity shares having par value of Rs. 10 per share. Each holder of equity shares is
entitled to one vote per share. The Company declares and pays dividends in Indian rupees. The dividend proposed by the
Board of Directors is subject to the approval of the shareholders in the ensuing Annual General Meeting.

In the event of liquidation of the Company, the holders of equity shares will be entitled to receive remaining assets of the
Company, after distribution of all preferential amounts. The distribution will be in proportion to the number of equity shares
held by the shareholders.

c) Equity shares held by ultimate holding/ holding company and/or their subsidiaries/ associates

The Company being ultimate holding company, there are no shares held by any other holding, ultimate holding and their
subsidiaries/associates.

1. Securities premium

Securities premium is used to record the premium on issue of shares. The reserve can be utilised only for limited purposes
such as issuance of bonus shares in accordance with the provisions of the Companies Act, 2013

2. Retained Earnings

Retained earnings are the profits/(loss) that the Company has earned/incurred till date, less any transfers to general
reserve, dividends or other distributions paid to shareholders. Retained earnings include re-measurement loss / (gain) on
defined benefit plans, net of taxes that will not be reclassified to Statement of Profit and Loss.

Notes

1. Term Loans are secured loans against vehicles bearing Interest rates 7.99% to 9.88%.

2. Cash Credit are secured against Office Premises and Book Debts. Interest is calculated and charge to the cash credit

on monthly basis. Further, quarterly returns or statement of assets filed with banks are in agreement with the books of
accounts of the Company

3. The above term loans are the loans against purchase of Vehicles. The Current loans from Banks have first Pari Passu

charge on Company's entire current assets, both present and future, and second Pari Passu Charge on the Company’s

Property, Plant and Equipments, both present and future as per security document.

4. Bank Loans contain certain debt covenants relating to Total Outside Liabilities, Tangible Net Worth, Current Ratio and Debt
Service Coverage Ratio (DSCR). The Company has satisfied all debt covenants prescribed in the terms and conditions.

5. The maximum amount of loan taken by the company during the year was Rs. 3,271.31 Lakhs.

a. Principal revenue Generation Activity

The Company is engaged in the business of Cargo consolidation and Inbound-outbound Freight forwarding of cargo
through vessel and through Air craft. The service is provided port to port or from door to door as per the requirement of the
customer.

Revenue from contracts with customers is recognised when performance of the services is completed for the customer
at an amount that reflects the consideration to which the Company expects to be entitled in exchange for those services.
The Company has generally concluded that it is the principal in its revenue arrangements with customers.

Terms and conditions of transactions with related parties

*This aforesaid amount does not includes amount in respect of gratuity and leave since the actuarial valuation has been taken
for the Company as a whole and individual amounts are not determinable.

**All the amount is provided for in the books

*The sales to and purchases from related parties are made on terms equivalent to those that prevail in arm's length transactions.
Outstanding balances at the year-end are unsecured and interest free and settlement occurs in cash . There have been no
guarantees provided or received for any related party receivables or payables. Assessment is undertaken each financial year
through examining the financial position of the related party and the market in which the related party operates.

Note 29: Related Party Information

i) Sales to related parties and concerned balances:

For terms of transaction

The Company entered into transactions with related parties for sale of services with respect to freight booking on the same
terms as applicable to third parties in an arm’s length transaction and in the ordinary course of business. The Company
mutually negotiates and agrees the price and payment terms with the related parties by benchmarking the same to the
services rendered to non-related parties entered into by the counter-party and similar services rendered by the Company
to other non-related parties.

For terms of balance

Trade receivables outstanding balances are unsecured, interest free. No guarantee or other security has been received
against these receivables. The amounts are recoverable within 60 to 180 days from the reporting date (31 March 2024: 60
to 180 days from the reporting date).

ii) Services received from related parties

(a) Professional services: During the year 2024-25, the Company obtained Legal advisory services from Simran Potnis
wife of Sanjiv Potnis(Executive Director). The terms are same as applicable to third parties in an arm’s length
transaction and in the ordinary course of business.The service agreement included payment terms requiring the
Company to make payment within 30 to 60 days from the date of invoice. The amount was fully paid at the reporting
date.

(b) Employment services: During the year 2024-25, the Company obtained employment services from the following
individuals: Jay Nibandhe, Gauri Nibandhe, Yash Salvi, Siddharth Potnis, and Sanjana Potnis. The terms of
engagement for these services were consistent with the Company's standard employment agreements and were
comparable to market conditions for similar roles. Payments were made as per the agreed terms and in the ordinary
course of business.

iii) Conversion of Loans into Convertible Redeemable Preference Shares of Subsidiary

The Company has converted a short-term loan and a long-term loan, extended to OneWorld Logistics Private Limited, into
Convertible Redeemable Preference Shares having a face value of '10/- each and a premium of '97.15/- per share.

iv) Reimbursement of Expenses / Expeneses Paid / Expenses Recovered

The Company enters into transactions with related parties; OneWorld Logistics Private Limited, R N Freight Forwarders
Private Limited and Seedeer (India) E-Commerce Private Limited for reimbursement of certain cost incurred by the
Company on behalf of its subsidiaries/associates (including rental expenses, clearing and forwarding, licence fees etc)
which are agreed to be reimbursed at cost to the Company.

The Company engages in related party transactions with OneWorld Logistics Private Limited, R N Freight Forwarders
Private Limited, and Seedeer (India) E-Commerce Private Limited for the reimbursement of various expenses (including
rental expenses, clearing and forwarding charges, licence fees, etc.) incurred by these subsidiaries/associates on its
behalf. These expenses are reimbursed at actual cost."

v) Compensation to KMP of the Company

The compensation to KMP is disclosed in the above table. The amounts are recognised as an expense during the financial
year.

Generally, the non-executive directors do not receive gratuity entitlements from the Company. During the year ended
31 March 2025, gratuity was paid to Mr. Shrikant Nibandhe (Executive Director & CFO) and Mr. Makarand Pradhan
(Managing Director), both of whom reached the age of 60 years during the year.

vi) Loan to an Subsidiary - One World Logistics Private Limited

The loan granted to One World Logistics Private Limited is intended to finance the working capital. The loan is unsecured
and repayable in full on 31 March 2027. Interest is charged at 7.31%. The loan has been utilized for the purpose it was
granted, viz., for working capital requirements.

Loan to an Subsidiary - CP World Logistics India Private Limited

The loan granted to CP World Logistics India Private Limited is intended to finance the working capital. The loan is
unsecured and repayable in full on 31 March 2026. Interest is charged at 7.31%. The loan has been utilized for the
purpose it was granted, viz., for working capital requirements.

Loan to an Subsidiary - R N Freight Forwarders Private Limited

The loan granted to R N Freight Forwarders Private Limited is intended to finance the working capital. The repayable in
full on 31 March 2026. Interest is charged at 7.31%. The loan has been utilized for the purpose it was granted, viz., for
working capital requirements.

Note 30: Employee Benefit Obligations

a. Defined Contributions Plans

For the Company an amount of Rs. 89.34 lakh (31st March, 2024: Rs. 79.00 lakh) contributed to provident funds, ESIC and
other funds is recognised by as an expense and included in "Contribution to Provident & Other Funds" under "Employee
benefits expense" in the Consolidated Statement of Profit and Loss.

b. Defined Benefits Plans

As per the Payment of Gratuity Act, 1972, the Company has a defined benefit gratuity plan. Every employee who has
completed five years or more of service gets a gratuity on resignation or retirement at 15 days salary (last drawn salary)
for each completed year of service.

The following table's summaries the components of net benefit expense recognised in the Statement of Profit and Loss and the
funded status and amounts recognised in the balance sheet for the respective plans of the company

Notes:

The Company is contesting the demands and the management, including its tax/legal advisors, believe that its position will likely

be upheld in the appellate process. No tax expense has been accrued in the financial statements for the tax demand raised.

Cash outflows for the above are determinable only on receipt of judgements pending at various forums/authorities.

1. The Company's income was assessed by the income tax department for the AY 2017-18 and a liability of Rs. 53.23 Lakhs
was demanded. The Company has filed an appeal against the assessment order with the Income Tax Commissioner
(Appeals) within the stipulated time. During the year the company was due to receive a refund from the Income Tax
Department which was adjusted against the demand order. This adjustment forms part of balances receivable from the
government. The Company has reviewed the demand and does not expect an unfavourable outcome.

2. The contingent liability related to GST is due to excess ITC claimed and Under Reporting of Freight Charges for the year
2017-2018 amounting to Rs. 120.49 out of which Rs. 56.53 has been paid by the company.

Note 33: Fair Value Measurements

The fair value of the financial assets and liabilities is included at the amount at which the instrument could be exchanged in a

current transaction between willing parties, other than in a forced or liquidation sale.

The Company has established the following fair value hierarchy that categorises the values into 3 levels. The inputs to valuation

techniques used to measure fair value of financial instruments are:

Level 1: This hierarchy uses quoted (unadjusted) prices in active markets for identical assets or liabilities.

Level 2: The fair value of financial instruments that are not traded in an active market is determined using valuation techniques

which maximize the use of observable market data and rely as little as possible on Company specific estimates.

Level 3: If one or more of the significant inputs is not based on observable market data, the instrument is included in Level 3.

The following methods and assumptions were used to estimate the fair values:

1. The Company has not disclosed the fair values of financial instruments such as cash and cash equivalents, bank balances,
other than cash and cash equivalents, trade receivables, other financial assets (except derivatives), trade payables and
other financial liabilities (except derivatives) because their carrying amounts are a reasonable approximation of fair value.
Further, for financial assets, the Company has taken into consideration impairment allowances and adjusted the carrying
values where applicable.

2. The fair values of the quoted investments/units of mutual fund schemes are based on market price/ net asset value at the
reporting date.

3. The fair values for loans given are calculated based on discounted cash flows using current lending rates and individual
credit worthiness of the counterparty. Based on this evaluation, allowances are taken to account for expected losses of
these receivables. Accordingly, fair value of such instruments are not materially different from their carrying values.

4. Fair values of the Company's interest-bearing borrowings are determined by using discounted cash flow method using
the current borrowing rates. Fair value of such instruments are not materially different from their carrying values. The own
non-performance risk as at March 31,2025 was assessed to be insignificant.

The management assessed that cash and cash equivalents, trade receivables, trade payable, short term borrowings, bank
overdrafts and other current liabilities approximate their carrying amounts largely due to the short term maturities of these
instruments and are thus measured at amortized cost.

Note 34: Financial Risk Management Objectives & Policies:-

The Company's principal financial liabilities, comprises 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 also holds FVTPL investments.

It has an integrated financial risk management system which proactively identifies monitors and takes precautionary and
mitigating measures in respect of various identified risks.

The Company is exposed to market risk, credit risk and liquidity risk. The Company’s senior management oversees the
management of these risks, which evaluates and exercises independent control over the entire process of financial risks. All the
derivative activities for risk management purposes are carried out by specialist teams that have appropriate skills, experience
and supervision. It is the Company’s policy that no trading in derivatives for speculative purposes may be undertaken.The Board
of Directors reviews and agrees policies for managing each of these risks, which are summarised below.

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 price. Market risk comprises three types of risk:interest rate risk, currency risk and other price risk, such as equity risk.
Financial instruments affected by market risk include loans and borrowings , deposits, FVTPL investments and derivative
financial instruments. Market risk is attributable to all market risk sensitive financial instruments.

The finance department undertakes management of cash resources, hedging strategies for foreign currency exposures,
borrowing mechanism and ensuring compliance with market risk limits.

Interest Risk

Interest rate risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in
market interest rates.The Company's exposure to the risk of changes in market interest rates relates primarily to the Company's
debt obligations with floating interest rates.

The Company is not very significantly exposed to interest rate risk except the variations in RBI Repo rate or Bank's MCLR rates
as most of the borrowings are linked to these. 1% changes in interest rate will increase the borrowing cost by Rs 28.63 lakhs.

The Company does not have significant investment in Bank Deposits and hence not significantly exposed to Interest rate
sensitivity.

1% changes in interest rate will decrease the other income by ' 9.69 lakhs.

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 and the Company’s net investments in foreign subsidiaries.

The Company has no borrowings in foreign currency as on March 31, 2025 (March 31, 2024: ' Nil) and hence no foreign
currency risk.

Unhedged foreign currency exposure as at the reporting date expressed in INR are as follows :

As at balance sheet date, the Company’s net foreign currency exposure (receivable) that is not hedged is Rs. 2,271.41 lakhs
(March 31,2024: Rs. 1,816.46 lakhs).

Foreign currency sensitivity

For the year ended 31 March 2025 and 31 March 2024, every 5% depreciation / appreciation in the exchange rate between the
Indian rupee and U.S. dollar, would have affected the Company’s incremental operating margins by approximately amounts as
shown below. The Company’s exposure to foreign currency changes for all other currencies is not material.

Equity Price Risk

The Company’s listed and non-listed equity securities are susceptible to market price risk arising from uncertainties about future
values of the investment securities. The Company manages the equity price risk through diversification and by placing limits on
individual and total equity instruments. Reports on the equity portfolio are submitted to the Company’s senior management on
a regular basis.

In order to manage its price risk arising from investments in mutual funds, exchange traded funds and investments in equity
instruments, the Company diversifies its portfolio.

Credit risk

Credit risk is the risk that the counterparty will not meet its obligations under a financial instrument or customer contract, leading
to a financial loss.The Company is exposed to credit risk from its operating activities (primarily trade receivable) and from its
financing activities, including deposits with banks and financial institutions,foreign exchange transactions and other financial
instruments. The Company only deals with parties which has good credit rating/worthiness given by external rating agencies or
based on Company's internal assessment.

Financial assets are written off when there is no reasonable expectation of recovery, such as a debtor failing to engage in a
repayment plan with the Company. Where loans or receivables have been written off, the Company continues to engage in
enforcement activity to attempt to recover the receivable due. Where recoveries are made, these are recognised as income in
the statement of profit and loss.

Cash and cash equivalents and deposits:

Balances and deposits with banks are subject to low credit risks due to good credit ratings assigned to the banks.

Cash and cash equivalents and deposits:

Balances and deposits with banks are subject to low credit risks due to good credit ratings assigned to the banks.

Loans:

The Company has given loans to certain unrelated parties. The Company has made provisions in case where there is risk of
loan recovery.

The Company has given loans to certain related parties. (refer note 7d)

Trade and other receivables:

The Company measures the impairment allowance of trade receivables and loans from individual customers based on historical
trend,industry practices and business environment in which the entity operates.Loss rates are based on actual credit loss
experience and past trends.

During the year the Company has written off an amount of ' NIL (March 31,2024: ' NIL) as the same were not recoverable.
No significant changes in estimation techniques or assumptions were made during the reporting period.

Liquidity risk

Liquidity risk is the risk that the Company will not be able to settle or meet its obligations on time or at a reasonable price. The
Company's finance department is responsible for liquidity, funding as well as settlement management and then processes
related to such risks are overseen by senior management through rolling forecasts on the basis of expected cash flows.

Maturity profile of financial liabilities

The table below provides details regarding the remaining contractual maturities of financial liabilities at the reporting date

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 aims to manage its capital efficiently so as to safeguard its ability to continue as a going concern and to optimise
returns to our shareholders. The capital structure of the Company is based on management’s judgement of the appropriate
balance of key elements in order to meet its strategic and day-to-day needs. We consider the amount of capital in proportion to
risk and manage the capital structure in light of changes in economic conditions and the risk characteristics of the underlying
assets. In order to maintain or adjust the capital structure, the Company may adjust the amount of dividends paid to shareholders,
return capital to shareholders or issue new shares.

The Company's policy is to maintain a stable and strong capital structure with a focus on total equity so as to maintain investor,
creditors and market confidence and to sustain future development and growth of its business. The Company will take appropriate
steps in order to maintain, or if necessary adjust, its capital structure.

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.
Breaches in meeting the financial covenants would permit the bank to immediately call loans and borrowings. There have been
no breaches in the financial covenants of any interest-bearing loans and borrowing in the current period.

Note 35: Segment Reporting

The Company has identified "Multimodal Transport Operations", as its only reportable segment as defined under Ind AS 108 -
Operating Segments

Note: Schedule III requires explanation where the change in the ratio is more than 25% as compared to the preceding year.
Since there are total seven instances where the change is more than 25%, hence the explanation is given for the said ratios
only. Also, Inventory Turnover ratio is not applicable to the company.

Note 37: Other Statutory information

a) No proceedings have been initiated on or are pending against the company for holding benami property under the Benami
Transactions (Prohibition) Act, 1988 (45 of 1988) and Rules made thereunder.

b) The Company does not have any charges or satisfaction which is yet to be registered with ROC beyond the statutory
period.

c) The Company has not been declared wilful defaulter by any bank or financial institutions or government or any government
authority.

d) Transactions with struck off Companies

The Company has entered into transactions with the following entity, which has been struck off under Section 248 of the
Companies Act, 2013. The outstanding balances as of March 31,2025, are as follows:

e) The Company have not advanced or given loan or invested funds to any other person(s) or entity(ies), including foreign
entities (Intermediaries) with the understanding that the intermediary shall:

(a) directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of
the company (Ultimate Beneficiaries) or

(b) provide any guarantee, security or the like to or on behalf of the Ultimate Beneficiaries

f) The Company have not received any fund from any persona) or entity(les), including foreign entities (Funding Party) with
the understanding (whether recorded in writing or otherwise) that the Company shall:

(a) directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of
the Funding Party (Ultimate Beneficiaries) or

(b) provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries

g) The Company has not entered into any scheme of arrangement which has an accounting impact on current or previous
financial year.

h) The Company have not any transaction which is not recorded in the books of accounts that has been surrendered or
disclosed as income during the year in the tax assessments under the Income Tax Act, 1961 (such as, search or survey
or any other relevant provisions of the Income Tax Act, 1961.

i) The Company has not traded or invested in crypto currency or virtual currency during the current or previous year.

Note 38: The Company has used accounting software for maintaining its books of account which has a feature of recording
audit trail (edit log) facility and the same has operated throughout the year for all relevant transactions recorded in the software
except that,

a. In the case of “E-Freight” and “eBMS” software, used for maintaining the Company’s books of account, the audit trail
feature is not enabled for direct changes to data when accessed using certain access rights.

b. In the case of “Asset Expert” software, which is used for recoding transactions relating to Property, Plant and Equipment,
the audit trail feature is not enabled.

Further, no instance of audit trail feature being tampered with, where audit trail has been enabled.

Additionally, the audit trail of relevant prior years has been preserved by the company as per the statutory requirements
for record retention, to the extent it was enabled and recorded in those respective years.

c. The Company has used the “Spine” software, operated by a third-party software service provider, for maintaining certain
books of account. Management is not in possession of Service Organisation Controls report to determine whether audit
trail feature of this software was enabled and operational throughout the year for all relevant transactions recorded in it, or
whether there were any instances of tampering with the audit trail feature.

Note 39: There are no events after the reporting period which requires adjustment in Financial Statements.

Note 40: The financial statements were approved for issue by the Board of Directors on May 26, 2025.

Summary of Material Accounting Policies 2

The accompanying notes form an integral part of the Standalone Financial Statements

As per our report of even date attached

For S R B C & CO LLP For and on Behalf of the Board of Directors of

Chartered Accountants Total Transport Systems Limited

ICAI Firm No. 324982E/E300003 CIN NO. L63090MH1995PLC091063

per Hemal Shah Makarand Pradhan Sanjiv Potnis

Partner Managing Director Director

Membership No. 110829 DIN : 00102413 DIN : 00102090

Shrikant Nibandhe Bhavik Trivedi

Director & CFO Company Secretary

DIN : 01029115 Membership No. A49807

Date: May 26, 2025 Date: May 26, 2025

Place: Mumbai Place: Mumbai