Your Directors take great pleasure in presenting the 19th Annual Report of TIMESCAN LOGISTICS (INDIA)
LIMITED ("the Company") along with the Audited Financial Statements for the financial year ended 31st
March, 2025.

Company Overview

Your Company operates in the dynamic and fast-evolving logistics sector, offering integrated and end-to-
end supply chain solutions as a Multimodal Transport Operator and Third-Party Logistics (3PL) Provider.
With a strong presence across land, air, and sea transportation, your Company provides a comprehensive
suite of services, including Freight Forwarding (Sea and Air), Customs Clearance, Warehousing, Multimodal
Transportation, Project Cargo Handling, Third-Party Logistics, Packaging, Loading/Unloading, and Unpacking
of goods. These offerings are supported by value-added services, enabling your Company to deliver seamless,
customized logistics solutions to a wide range of industries. Leveraging an asset-light business model, your
Company maintains high operational agility and scalability, ensuring efficiency and responsiveness to evolving
market demands. As an emerging and rapidly growing player in the logistics space, your Company remains
committed to enhancing service excellence, expanding its capabilities, and generating sustainable value for
all stakeholders.

Financial Highlights

The financial performance of the Company for the financial year ended 31st March, 2025 is summarized below:

Standalone:

Exceptional items

Consolidated:

Financial Performance

During the year under review, the Company has recorded total revenue of Rs. 25,816.65 Lakhs against Rs.
20,225.01 Lakhs in previous year. The Profit for the year was Rs. 783.92 Lakhs and profit after tax was Rs.
585.94 Lakhs. Since previous year the Company has increased the revenue upto 21.66% and increased the net
profit upto 35.27%. Your directors are hopeful that the Company may be able to show better performance in
coming years.

Revenue from operations for the financial year 2024-25 was at Rs. 25,797.44 Lakhs as against Rs. 20192.28
Lakhs in the previous year showing an increase of 27.76% (approx.) over the previous year.

The Operating Profit (EBITDA) for the year stood at Rs. 987.37 Lakhs as against Rs. 585.6 Lakhs in the previous
financial year, with an increase of 68.61% (approx.) over the previous year.

Overall, the Company registered a Profit After Tax of Rs. 585.94 Lakhs as against Rs. 379.26 Lakhs, galloping
approximately 54.50% over the previous financial year.

The earnings per share for the year ended March 31, 2025 was at Rs. 8.38/- (diluted). The net-worth of the
Company is now standing at Rs. 2,624.03 Lakhs, which was also increased in line with the increase in the other
factors affecting it.

The consolidated financial results for Financial Year 2024 - 25 are materially aligned with the standalone results,
as the newly incorporated wholly-owned subsidiary has not commenced commercial operations and has only
incurred preliminary expenses. Hence, there has been no significant impact on the consolidated financials.

The Company's performance is better when compared to the previous year. As everyone expects, there is an
improvement in all the aspects of the financial performance of the Company.

T ransfer To Reserves

The Board of Directors do not propose any amount to be transferred to General Reserves for the Financial Year
2024-25.

As per the financials the net movement in the reserves of the Company as at 31st March 2025 and previous year
ended 31st March, 2024 is as follows:

The members are advised to refer the Note No. 4 as given in the financial statements which forms part
of the Annual Report for detailed information.

Dividend

The Board of Directors of your Company has decided not to recommend any dividend for the financial year
under review. This decision has been taken after careful consideration of the Company's financial performance,
cash flow position, and future business expansion plans.

The primary reason for not declaring a dividend is to conserve resources to support the Company's growth
strategy and ensure a stronger financial foundation. Given the dynamic nature of the logistics industry and
the need to remain competitive, the Board believes it is prudent to retain the earnings and reinvest them into
the business.

The Board assures all shareholders that this decision has been made in the best interest of the Company and
its stakeholders, with a focus on achieving long-term financial stability and growth.

Transfer of Unclaimed Dividend to Investor Education & Protection Funds (IEPF)

In accordance with the provisions of Sections 124 and 125 of the Act and Investor Education and Protection
Fund (Accounting, Audit, Transfer and Refund) Rules, 2016 (IEPF Rules), dividends not encashed/claimed
within seven years from the date of declaration are to be transferred to the Investor Education and Protection
Fund (IEPF).

The IEPF Rules mandate companies to transfer shares of Members whose dividends remain unpaid/
unclaimed for a period of seven consecutive years or more to the demat account of IEPF established by
the Central Government. The Members, whose dividends/shares are transferred to the IEPF, can claim their
shares/dividends from the IEPF Authority.

In terms of the applicable provisions of the IEPF Rules, unclaimed dividends were not required to be
transferred during the Financial Year 2024-25 to the IEPF as seven consecutive years has not been elapsed.

Change In Nature Of Business

During the Year under review, there was no change in the business of the Company or in the nature of activities
carried by the Company. The Board of Directors is pleased to report that the Company has successfully
upheld its business strategy, ensuring steady growth and maintaining its reputation for delivering high-quality
logistics services.

Material Changes and Commitments

No material changes and commitments have occurred after the close of the year till the date of this report
which may affect the financial position of the Company.

Share Capital
Equity Shares

During the period under review, the Company has only one class of shares i.e. equity shares of face value of
Rs.10/- each. The Company's authorized share capital is 10,00,00,000/- divided into 1,00,00,000/- equity shares
of Rs. 10/- each. The issued, subscribed and paid up capital stood at Rs. 6,98,80,000/- divided into 69,88,000/-
equity shares of Rs. 10/- each as on 31st March, 2025, unvaried from the previous financial year.

Bonus Shares

During the year under review, the Board of Directors, at its meeting held on March 28, 2024, recommended
the issuance of Bonus Shares in the ratio of 1:1 (i.e., 1 Bonus Equity Share of ^10/- for every 1 existing Equity
Share of ^10/- held). The said bonus issue was approved by the Members of the Company at the Extra¬
Ordinary General Meeting held on April 26, 2024, pursuant to the provisions of Section 63 of the Companies
Act, 2013 read with Rule 14 of the Companies (Share Capital and Debentures) Rules, 2014.

The Bonus Shares were allotted to all eligible Equity Shareholders whose names appeared in the Register
of Members as on the record date, in the proportion as approved. The Bonus Shares rank pari-passu in all
respects with the existing Equity Shares of the Company.

Sweat Equity Shares

As per the provisions of Section 54(1)(d) of the Companies Act, 2013 and in terms of Rule 8(13) of Companies
(Share Capital and Debentures) Rules, 2014, the Company has not issued any Sweat Equity Shares.

Differential Voting Rights

As per the provisions of Section 43(a)(ii) of the Companies Act, 2013 and in terms of Rule 4(4) of Companies
(Share Capital and Debenture Rules, 2014), the Company has not issued any shares with Differential Voting
Rights.

Employee Stock Options

As per the provisions of Section 62(1)(b) of the Companies Act, 2013 and in terms of Rule 12(9) of Companies
(Share Capital and Debenture Rules, 2014), the Company has not issued any Employee Stock Options.

Debentures/Bonds/Warrants or any Non-Convertible Securities

During the year under review, the Company has not issued any debentures, bonds, warrants or any non¬
convertible securities. As on date, the Company does not have any outstanding debentures, bonds, warrants
or any non-convertible securities.

There were no other changes in the capital structure of the Company during the year under review.

Deposits

Your Company has not accepted any deposits from the public falling within the purview of Section 73 and
74 of the Companies Act, 2013 read together with the Companies (Acceptance of Deposits) Rules, 2014 and
therefore, there was no principal or interest outstanding as on the date of the Balance Sheet.

Details of Subsidiary, Joint Ventures, Associate Companies

As on the date of this Report, the Company has two Wholly-Owned Subsidiaries, namely:

Apart from above, there are no Holding /Subsidiary/Joint Venture/ Associate Company. However, the
Company has incorporated Timescan Logistics L.L.C during the current financial year but prior to the
date of this Report, which shall be considered as its Subsidiary for the purpose of financial reporting
in subsequent periods.

The Consolidated Financial Statements of the Company for the year ended March 31, 2025 are
prepared in compliance with the applicable provisions of the Companies Act, 2013, and as stipulated
under Regulation 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
("Listing Regulations"). The audited Consolidated Financial Statements together with the Auditors'
Report thereon forms part of the Annual Report.

Pursuant to Section 129(3) of the Companies Act, 2013, a Statement containing salient features of
the Financial Statements of the Subsidiary Companies in the prescribed Form AOC-1 is appended as
Annexure - A to this report.

Pursuant to the provisions of Section 136 of the Companies Act, 2013, the Financial Statements of
the Subsidiary Companies are kept for inspection by the Members at the Registered Office of the
Company.

The Company shall provide a copy of the Financial Statements of its Subsidiary Companies to the
Members upon their request. The statements are also available on the website of the Company at
www.timescan.in

Secretarial Standards

"The Company has complied with all the applicable provisions of the Secretarial Standard on Meetings of
the Board of Directors (SS-1) and the Secretarial Standard on General Meetings (SS-2), as issued by the
Institute of Company Secretaries of India (ICSI). The Board of Directors further affirms that the Company has
established appropriate systems and processes to ensure compliance with the aforesaid Secretarial Standards
and confirms that such systems are adequate and operating effectively, in accordance with the provisions of
Section 118(10) of the Companies Act, 2013."

Related Party Transactions

All contracts or arrangements or transactions with related parties during the year under review as referred
to in Section 188(1) of the Companies Act, 2013, were in the ordinary course of business and on arms' length
basis. There were no material contracts/ arrangement/ transactions with related parties which may have
potential conflict with the interest of the Company.

As per the provisions of Section 188 of the Companies Act, 2013, Transactions entered with related parties
were mainly in the ordinary course of business and on arm's length basis. Approval of the Board of Directors
for the same is obtained for entering into related party transactions by the Company.

The details with respect to the related party transactions are mentioned in the notes to the audited financial
statements in Note No. 27. Further the transactions during the year under review, that are required to be
reported in Form AOC-2 and such Form AOC-2 is given as "Annexure - B" in this Board Report.

The Policy on Related Party Transaction is available on the Company's website at http://www.timescan.in/
pdf/Policy%20on%20Related%20Party%20Transactions.pdf.

Particulars of Loans, Guarantees or Investments

During the year under review, your Company has not made any investment, given any loan or guarantee falling
within the meaning of Section 186 of the Companies Act, 2013 and the rules made thereunder.

Dematerialization of Equity Shares

As on 31st March, 2024, 69,88,000 equity shares representing the total equity share capital of the Company
were held in dematerialized form with National Securities Depository Limited (NSDL) and Central Depository
Services (India) Limited (CDSL). During the year under review there were no physical holding of existing
shares which needs to be dematerialized as the entire shareholding was in demat mode.

Depository System

As the Members are aware, your Company's shares are tradeable compulsorily in electronic form and your
Company has established connectivity with both National Securities Depository Limited (NSDL) and Central
Depository Services (India) Limited (CDSL). In view of the numerous advantages offered by the depository
system, the members are requested to avail the facility of dematerialization of the Company's shares on NSDL
& CDSL. The ISIN allotted to the Company's Equity shares is INE0IJY01014.

Listing & Depository Fee

The Equity Shares of the Company are listed on SME Platform of National Stock Exchange of India Limited
(NSE Emerge). The Company has paid Listing fees for the financial year 2025-26 according to the prescribed
norms & regulations.

Company has also paid Annual Custody Fee to National Securities Depository Limited and Issuer Fee to Central
Depository Services (India) Limited for the financial year 2025-26.

Directors & Key Managerial Personnel

• Executive Directors

o Mr. Moulana Taufeek Islam - Managing Director
o Mr. Sundarraj Arun Kumar - Whole time Director
o Mr. Jacob Anil Kumar Bunga - Whole time Director

• Non- Executive Directors

o Mr. Shekhar Chaki - Independent Director
o Mrs. Munira Begam - Independent Director
o Mr. Shanmugapriyan - Non-Executive Director

• Key Managerial Personnel

o Mr. Ramachandraiah - Chief Financial Officer
o Ms. Priya Nagori - Company Secretary & Compliance Officer

Changes in Directors & Key Managerial Personnel

The Board of Directors of your Company acknowledged the resignation of Ms. Aakansha Kamley from her role
as Company Secretary & Compliance Officer, effective from the close of business hours on 13th May, 2025.
Ms. Aakansha Kamley has stepped down due to personal reasons. The Board extends its sincere appreciation

to Ms. Aakansha Kamley for her exemplary services and valuable contributions during her tenure with the
Company.

In light of Ms. Aakansha's resignation, the Board, in its meeting held on 13th May, 2025 and based on the
recommendation of the Nomination and Remuneration Committee, has approved the appointment of Ms. Priya
Nagori as the new Company Secretary and Compliance Officer, effective from 14th May, 2025.

Aside from changes mentioned above, there have been no other alterations in the directors and key managerial
personnel of the Company during the year under review since the last report.

Retirement by Rotation

In accordance with the provisions of Section 152 of the Companies Act, 2013 and in terms of the Articles of
Association of the Company, Mr. Moulana Taufeek Islam (Managing Director) (DIN: 02125126) being the longest
in the office, is liable to retire by rotation and being eligible, seeks re-appointment at the ensuing AGM. Mr.
Moulana Taufeek Islam is not disqualified under Section 164(2) of the Companies Act, 2013. Board of Directors
recommends his re-appointment in the best interest of the Company.

The Notice convening forthcoming AGM includes the proposal for re-appointment of aforesaid Director. A
brief resume of the Director proposed to be re-appointed, nature of his experience in specific functions and
area and number of listed companies in which he holds Membership/Chairmanship of Board and Committees,
shareholdings and inter-se relationships with other Directors as stipulated under Regulation 36(3) of the
Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015
and Secretarial Standards on General Meetings (SS-2) are provided in the 'Annexure to the Notice of AGM'
forming part of this Annual Report.

Board Diversity

The Board of Directors of the Company has implemented a comprehensive Board Diversity Policy. The Board
is composed of individuals with a wide range of experiences and skills, ensuring that it effectively addresses
the governance and strategic needs of the Company. Our Directors are distinguished professionals with
expertise in various fields, including business, industry, finance, law, administration, economics, and corporate
management, all of which contribute significantly to the Board's performance.

Director selection is based solely on merit, without discrimination based on race, color, religion, gender, or
nationality. Our Directors are committed to upholding the highest ethical standards, integrity, and probity, and
they diligently exercise their responsibilities in the best interests of the Company and its stakeholders.

Familiarization Programme for Independent Directors

The Company conducts a Familiarization Programme for its Independent Directors to ensure they are well-
acquainted with the Company, its management, and its operations. This programme is designed to provide
Directors with a clear understanding of their roles and responsibilities, enabling them to make meaningful
contributions to the Company's growth.

Independent Directors have ample opportunities to engage with Senior Management Personnel and are
provided with all necessary documents to facilitate a thorough understanding of the Company's operations
and the industry in which it operates.

The details of Familiarization Programme arranged for Independent Directors have been disclosed on the
website of the Company www.timescan.in

Declaration by Independent Directors

The Company has received the following declarations from all the Independent Directors confirming that:

1. They meet the criteria of independence as prescribed under the provisions of the Act, read with the

Schedule and Rules issued thereunder, and the Listing Regulations. There has been no change in the
circumstances affecting their status as Independent Directors of the Company; and

2. They have registered themselves with the Independent Director's Database maintained by the IICA.

Furthermore, Board is of the opinion that Independent Directors of the company are persons of high repute,
integrity & possess the relevant expertise & experience in their respective fields.

None of the Directors of the Company are disqualified for being appointed as Directors as specified in Section
164(2) of the Act and Rule 14(1) of the Companies (Appointment and Qualification of Directors) Rules, 2014.

Code of Conduct For Independent Directors

The Company has also placed the Code of Conduct for Independent Directors. This Code is a guide to
professional conduct for Independent Directors. Adherence to these standards by Independent Directors
and fulfillment of their responsibilities in a professional and faithful manner will promote confidence of the
investment community, particularly minority shareholders, regulators and Companies in the institution of
Independent Directors.

Annual Evaluation

The Board of Directors has carried out an annual evaluation of its own performance, Board committees and

individual Directors pursuant to the provisions of the Sections 134, 178 and Schedule IV of the Companies Act,
2013. Evaluation was done after taking into consideration inputs received from the Directors, covering various
aspects of the Board's functioning such as adequacy of the composition of the Board and its Committees,
performance of specific duties, independence, ethics and values, attendance and contribution at meetings etc.

The performance of the Independent Directors was evaluated individually by the Board after seeking inputs
from all the directors on the effectiveness and contribution of the Independent Directors.

The performance of the Committees was evaluated by the Board after seeking inputs from the Committee
members based on the criteria such as the composition of Committees, effectiveness of Committee meetings,
etc.

The Board reviewed the performance of the individual Directors on the basis of the contribution of the individual
Director during Board and Committee meetings.

In a separate meeting of Independent Directors, performance of Non-Independent Directors, and the
performance of the Chairman was evaluated, taking into account the views of executive directors and non¬
executive directors. The Independent Directors also assessed the quality, frequency and timeliness of flow of
information between the Board and the management that is necessary for effective performance.

Directors Responsibility Statement

Pursuant to Section 134 (3) (c) of the Companies Act, 2013 the Board of Directors hereby confirms that:

i. In the preparation of the annual accounts of the Company for the year ended March 31, 2025, the
applicable Accounting Standards had been followed and there are no departures from the same;

ii. Accounting policies have been selected and applied consistently and judgments and estimates made
that are reasonable and prudent so as to give true and fair view of the state of affairs of the Company
at the end of the financial year March 31, 2025 and of the profit of the Company for that year ended on
that date;

iii. Proper and sufficient care has been taken for the maintenance of adequate accounting records in
accordance with the provisions of this Act for safeguarding the assets of the Company and detecting
fraud and other irregularities;

iv. Annual accounts for the year ended March 31, 2025 have been prepared on a going concern basis.

v. Internal Financial controls were in place and that the financial controls were adequate and were
operating effectively.

vi.Systems to ensure compliance with the provisions of all applicable laws were in place and were
adequate and operating effectively.

Based on the framework of internal financial controls and compliance systems established and maintained
by the Company, the work performed by the internal, statutory and secretarial auditors, including the audit
of internal financial controls over financial reporting by the statutory auditors and the reviews performed by
management and the relevant board committees, the Board is of the opinion that the Company's internal
financial controls were adequate and effective during Financial Year 2024-25.

Board Meetings

The Board meets at regular intervals to discuss and decide on Company/business policy and strategy apart
from other Board business. The Directors of the Company duly met 10 (ten) times during the year, all the
Board Meetings were conducted in due compliance with the Companies Act, 2013, SEBI (Listing Obligations
and Disclosure Requirements) Regulations, 2015 and Secretarial Standards on Board Meeting. The following
Meetings of the Board of Directors were held during the Financial Year 2024-2025:

Attendance of Directors at Board Meetings held during the Financial Year 2024-25 are:

Board Committees

The Board has constituted the following Committees:

• Audit Committee

• Nomination and Remuneration Committee

• Stakeholders Relationship Committee

Audit Committee

The Composition of Audit Committee pursuant to the provisions of Section 177 of the Companies Act, 2013 are:

Attendance of Directors at Audit Committee Meetings held during the Financial Year 2024-25 are:

Maximum members of the Committee are Non-Executive Directors of the Company. The Company Secretary
of the Company, acts as the Secretary to the Committee.

The Audit Committee acts as a link between the statutory and internal auditors and the Board of Directors.

Its purpose is to assist the Board in fulfilling its oversight responsibilities of monitoring financial reporting
processes, reviewing the Company's established systems and processes for internal financial controls,
governance and reviewing the Company's statutory and internal audit activities. The Committee is governed
by a Charter which is in line with the regulatory requirements mandated by the Companies Act, 2013, SEBI
(LODR) Regulations, 2015. Some of the important functions performed by the Committee are:

The role of the audit committee shall include the following:

• Oversight of the company's financial reporting process and the disclosure of its financial information
to ensure that the financial statement is correct, sufficient and credible;

• Recommendation for appointment, remuneration and terms of appointment of auditors of the company;

• Approval of payment to statutory auditors for any other services rendered by the statutory auditors;

• Reviewing, with the management, the annual financial statements and auditor's report thereon before
submission to the board for approval, with particular reference to:

o Matters required to be included in the director's responsibility statement to be included in the
board's report in terms of clause (c) of sub-section (3) of Section 134 of the Companies Act, 2013;
o Changes, if any, in accounting policies and practices and reasons for the same;
o Major accounting entries involving estimates based on the exercise of judgment by management;
o Significant adjustments made in the financial statements arising out of audit findings;
o Compliance with listing and other legal requirements relating to financial statements;
o Disclosure of any related party transactions;
o Modified opinion(s) in the draft audit report;

• Reviewing with the management, the quarterly financial statements before submission to the board
for approval;

• Reviewing with the management, the statement of uses/application of funds raised through an
issue (public issue, rights issue, preferential issue, etc.), the statement of funds utilized for purposes
other than those stated in the draft prospectus/notice and the report submitted by the monitoring
agency monitoring the utilization of proceeds of a public or rights issue, and making appropriate
recommendations to the board to take up steps in this matter;

• Reviewing and monitoring the auditor's independence and performance, and effectiveness of audit
process;

• Approval or any subsequent modification of transactions of the company with related parties;

• Scrutiny of inter-corporate loans and investments;

• Valuation of undertakings or assets of the listed entity, wherever it is necessary;

• Evaluation of internal financial controls and risk management systems;

• Reviewing with the management, performance of statutory and internal auditors, adequacy of the
internal control systems;

• Reviewing the adequacy of the internal audit function, if any, including the structure of the internal
audit department, staffing and seniority of the official heading the department, reporting structure
coverage and frequency of internal audit;

• Discussion with internal auditors of any significant findings and follow up thereon;

• Reviewing the findings of any internal investigations by the internal auditors into matters where there is
suspected fraud or irregularity or a failure of internal control systems of material nature and reporting
the matter to the board;

• Discussion with statutory auditors before the audit commences, about the nature and scope of audit
as well as post-audit discussion to ascertain any area of concern;

• To look into the reasons for substantial defaults in the payment to the depositors, debenture holders,
shareholders (in case of non-payment of declared dividends) and creditors;

• To review the functioning of the whistle blower mechanism;

• Approval of the appointment of a chief financial officer after assessing the qualifications, experience
and background, etc. of the candidate;

• Reviewing the utilization of loans and/ or advances from/investment by the holding company in the
subsidiary exceeding rupees 100 crores or 10% of the asset size of the subsidiary, whichever is lower
including existing loans/advances/investments existing as on the date of coming into force of this
provision.

• Monitoring the end use of funds raised through public offers and related matters.

• Carrying out any other function as is mentioned in the terms of reference of the audit committee.

The Audit Committee shall mandatorily review the following information:

• Management discussion and analysis of financial condition and results of operations;

• Statement of significant related party transactions (as defined by the audit committee), submitted by
management;

• Management letters/letters of internal control weaknesses issued by the statutory auditors;

• Internal audit reports relating to internal control weaknesses; and

• The appointment, removal and terms of remuneration of the chief internal auditor shall be subject to
review by the audit committee.

• Statement of deviations: (a) half-yearly statement of deviation(s) including the report of monitoring
agency, if applicable, submitted to stock exchange(s) in terms of Regulation 32(1); (b) annual statement
of funds utilized for purposes other than those stated in the draft prospectus/notice in terms of
Regulation 32(7).

Nomination and Remuneration Committee

The Composition of Nomination and Remuneration Committee pursuant to the provisions of Section 178 of

the Companies Act, 2013 along with the Attendance of Directors at Nomination and Remuneration Committee

Meetings held during the Financial Year 2024-25 are:

All members of the Committee are Non-Executive Directors of the Company. The Company Secretary of the
Company, acts as the Secretary to the Committee.

The terms of reference of the Nomination & Remuneration Committee are:

• Formulation of the criteria for determining qualifications, positive attributes and independence of a
director and recommend to the board of directors a policy relating to, the remuneration of the directors,
key managerial personnel and other employees;

• Formulation of criteria for evaluation of the performance of independent directors and the board of
directors;

• Devising a policy on diversity the of the board of directors;

• Identifying persons who are qualified to become directors and who may be appointed in senior
management in accordance with the criteria laid down and recommend to the board of directors their
appointment and removal.

• To extend or continue the term of appointment of the independent director, based on the report of
performance evaluation of independent directors.

• To recommend to the Board all remuneration, in whatever form, payable to senior management.

Stakeholders Relationship Committee

The Composition of Stakeholders Relationship Committee pursuant to the provisions of Section 178 of the
Companies Act, 2013 along with the Attendance of Directors at Stakeholders Relationship Committee Meetings
held during the Financial Year 2024-25 are:

Mr. Shanmugapriyan 08873438 Non-Executive Director Member Yes

Mr. Moulana Taufeek Islam 02125126 Managing Director Member Yes

Maximum members of the Committee are Non-Executive Directors of the Company. The Company Secretary
of the Company, acts as the Secretary to the Committee.

The terms of reference of the Stakeholders Relationship Committee are:

• Resolving the grievances of the security holders of the listed entity including complaints related to
transfer/transmission of shares, non-receipt of annual report, non-receipt of declared dividends, issue
of new/duplicate certificates, general meetings etc;

• Review of measures taken for effective exercise of voting rights by shareholders;

• Review of adherence to the service standards adopted by the listed entity in respect of various services
being rendered by the Registrar & Share Transfer Agent;

• Review of the various measures and initiatives taken by the listed entity for reducing the quantum
of unclaimed dividends and ensuring timely receipt of dividend warrants/annual reports/statutory
notices by the shareholders of the company; and

• To carry out any other function as prescribed under the SEBI (Listing Obligations and Disclosure
Requirements) Regulations, 2015 as and when amended from time to time.

No Complaint was received as well as pending during the financial year 2024-25.

Statutory Auditors

At the 17th Annual General Meeting of the Company, the Members approved the appointment of M/s Rajani
& Co., Chartered Accountants, Chennai, having Firm Registration No. 003433S, as the Statutory Auditors
of the Company. They are appointed to hold office for a period of five years, from the conclusion of the 17th
Annual General Meeting until the conclusion of the 22nd Annual General Meeting, to be held in the year
2028, in accordance with the applicable provisions of Section 139(1) of the Companies Act, 2013, read with
the Companies (Audit and Auditors) Rules, 2014. It was further confirmed that the appointment is within the
prescribed limits under Section 141(3)(g) of the Companies Act, 2013.

Auditors Report

The Board has duly reviewed the Statutory Auditors' Report on the Financial Statements of the Company. The
notes forming part of the Financial Statements referred to in the Auditors Report are self-explanatory and do
not call for any further explanations under Section 134 of the Companies Act, 2013. The Report given by the
Auditor on the financial statement of the Company is part of this Annual Report and it does not contain any
qualification, reservation, adverse remark or disclaimer.

Secretarial Auditor & Secretarial Audit Report

Pursuant to the provisions of Section 204 of the Companies Act, 2013 and rules made thereunder, the Board
has appointed M/s Rahul Goswami & Co., Company Secretaries, Indore (holding Certificate of Practice bearing
No.23611), to undertake the Secretarial Audit of the Company.

The Secretarial Audit Report for the financial year ended 31st March, 2025 is annexed herewith marked as
"Annexure - C" in 'Form No. MR-3' and forms an integral part of this Report. The Secretarial Audit Report to
the shareholders of the Company for the financial year 31 st March, 2025 does contain the qualification remark:

1. The Company has filed e-form MGT-14 with additional late fees regarding the execution of sublease
deed for warehouse and Expansion of FTWZ Unit under Companies Act, 2013

We hereby clarify that due to certain technical reasons, the Company was unable to file Form MGT-14 within
the prescribed time. However, the said form has been duly filed with the Registrar of Companies on 17th May,
2025, along with the applicable additional fees as prescribed under the Companies Act, 2013.

Internal Auditor

Internal Audit for the financial year 2024-25 was conducted by M/s SAS Consultancy & Advisory, Chennai. The
idea behind conducting Internal Audit is to examine that the Company is carrying out its operations effectively
and performing the processes, procedures and functions as per the prescribed norms. The Internal Auditor
reviewed the adequacy and efficiency of the key internal controls.

Internal Financial Controls

Your Company has implemented a robust and effective internal financial control system to ensure that all assets
are safeguarded and protected, and that transactions are properly authorized, recorded, and reported. This
system is designed to maintain the integrity of financial and operational information and to ensure compliance
with applicable laws and regulations.

The internal audit process covers a comprehensive range of operational areas and verifies adherence to
established policies and procedures. During the year, the internal audit identified certain control weaknesses,
which were promptly addressed and rectified to strengthen the control environment.

The Company continually assesses the adequacy of its internal financial controls, ensuring they are appropriate
for the current size, scale, and complexity of its operations. These controls are supported by a robust internal
audit process and are regularly enhanced to align with the Company's growth. For the year under review,
no significant or material observations regarding inefficiencies or inadequacies in the internal controls were

reported by the Internal Auditors.

Maintenance of Cost Records

Pursuant to Section 148(1) of the Companies Act, 2013 and Rules framed thereunder related to maintenance of
cost records is not applicable to the Company being in the service industry.

Risk Management and Governance

Your Company recognizes that effective risk management is vital to maintaining profitability and ensuring the
long-term sustainability of its business. We are committed to adopting best practices in corporate governance,
which safeguard the long-term interests of all stakeholders, foster accountability across management, and
build trust in the Company.

A strong internal financial control system is fundamental to our risk management framework and governance
practices. Aligned with our commitment to delivering sustainable returns to stakeholders, the Company has
established clearly defined systems to manage risks within acceptable limits through the use of risk mitigation
techniques. Additionally, we have developed policies to address key business challenges in a timely manner
and to capitalize on business opportunities.

The Risk management Policy is available on the Company's website at http://www.timescan.in/pdf/Risk%20
Management%20Policy.pdf

Corporate Social Responsibility

The Company was not required to constitute a Corporate Social Responsibility Committee (CSR) as it did not
fall within purview of Section 135(1) of the Companies Act, 2013 for the Financial Year 2024-25 and hence it was
not required to formulate policy on corporate social responsibility, for the Financial Year under review.

Furthermore, going forward as the Company's Net Profit exceeded the thresholds specified in Section 135
of the Companies Act, 2013, during the financial year 2024-25, the Company is now required to undertake
Corporate Social Responsibility activities and make CSR contributions.

The CSR provisions have become applicable to the Company for the first time in the financial year
2025-26, and the Company will ensure compliance with the relevant rules and regulations.

Management Discussion and Analysis Report

Management Discussion and Analysis Report for the financial year 2024-25, as stipulated under Regulation
34(2)(e) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements)
Regulations, 2015 is presented in a separate section forming part of this Annual Report as "Annexure - D"

Conservation of Energy, Technology Absorption, Foreign Exchange Earnings and
Outgo

In compliance with provisions of Section 134(3)(m) of the Companies Act, 2013 and Rule 8 of the Companies
(Accounts) Rules, 2014 the information pertaining to conservation of energy, technology absorption and
foreign exchange earnings and outgo for the year ended March 31, 2025, are to be given by the Company as a
part of the Boards Report as "Annexure - E"

Corporate Governance

Your Company always places a major thrust on managing its affairs with diligence, transparency, responsibility
and accountability thereby upholding the important dictum that an Organization's corporate governance
philosophy is directly linked to high performance. The Company understands and respects its fiduciary role
and responsibility towards its stakeholders and society at large and strives to serve their interests, resulting
in creation of value for all its stakeholders. It may please be noted that as our Company is not falling in the
applicability criteria prescribed as mentioned in the SEBI (Listing Obligation and Disclosure Requirements)
Regulations, 2015. Hence, a separate Report on Corporate Governance is not forming part of this Annual
Report.

M eans of Communication

The Board believes that effective communication of information is an essential component of Corporate
Governance. The Company regularly interacts with Shareholders through multiple channels of communication
such as Company's website and stipulated communications to Stock Exchanges where the Company's shares
are listed for announcement of Financial Results, Annual Report, Company's policies, notices and outcome of
Meetings, etc.

a. Financial Results

The half-yearly and Annual financial results of the Company are published in accordance with the
requirements of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

b. Newspapers wherein results are normally published

As the Company is Listed on SME Platform, the provisions for publishing the financial results as per Regulation

47 of SEBI (Listings Obligations and Disclosure Requirements) Regulations, 2015 is not applicable to the
Company.

c. Any website, where displayed

The Financial Results of the Company are displayed on the Company's website i.e. http://www.timescan.
in/finance-result.html.

d. Company's Corporate Website

The Company's website is a comprehensive reference on Timescan's management, vision, mission, policies,
corporate governance, corporate sustainability, investor relations etc.

The section on investor relations serves to inform the shareholders, by giving complete financial details,
shareholding patterns, corporate benefits, information relating to stock exchanges, registrars and Share
transfer Agents.

e. Designated email-id for investor services

The Company has designated the following email-id for investor servicing cs@timescan.in.

f. NSE Electronic Application Processing System (NEAPS) and NSE Digital Exchange Platform

The NEAPS and NSE Digital Exchange Platform are web-based application designed by NSE for corporate.
All periodical compliance filings like shareholding pattern, corporate governance report, among others are
filed electronically on NEAPS and NSE Digital Exchange Platform.

g. SEBI Complaints Redress System (SCORES)

Securities and Exchange Board of India Complaints Redress System (SCORES) is a web based centralized
grievances redressal system where upon the investors complaints are processed. This enables the
market intermediaries and listed companies to receive the complaints online from investors, redress such
complaints and report redressal online. The salient features of this system are: Centralized database of all
complaints, online upload of Action Taken Reports (ATRs) by concerned companies and online viewing by
investors of actions taken on the complaint and its current status. There are no complaints lodged by any
Shareholder through SCORES or in any other way.

h. No official news was released by the Company in financial year 2024-25

No presentations were made by the Company to institutional investors or to the analysts for the financial
year 2024-25.

Annual Return

Pursuant to section 92(3) read with section 134(3)(a) of the Companies Act, 2013, copy of Annual Return of
the Company prepared in accordance with Section 92(1) of the Companies Act, 2013 read with Rule 11 of the
Companies (Management and administration) Rules, 2014 is placed on website of the Company at http://
www.timescan.in/

Establishment of Vigil Mechanism and Whistle Blower Policy

The Board has adopted Vigil Mechanism/Whistle Blower Policy pursuant to the provisions of Section 177(9)
of the Companies Act, 2013 read with the Companies (Meetings of Board and its Powers) Rules, 2014 and
Regulation 22 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements)
Regulations, 2015. The policy provides for a framework and process whereby concerns can be raised by its
Employees and Directors to the management about unethical behavior, actual or suspected fraud or violation
of the Code of conduct or legal or regulatory requirements incorrect or misrepresentation of any financial
statements. The policy provides for adequate safeguards against victimization of employees and Directors of
the Company.

The Vigil Mechanism/Whistle Blower Policy is available on the Company's website at http://www.timescan.in/
pdf/Vigil%20Mechanism%20Whistle%20Blower%20Policy.pdf

Remuneration Policy

Pursuant to the provisions of Section 178 of the Companies Act, 2013 and in compliance of Regulation 19 of
the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations,
2015, the Company has formulated the Nomination and Remuneration Policy for Directors, Key Managerial
Personnel and Employees of the Company in order to pay equitable remuneration to Directors, KMPs and
other Employees of the Company and it includes the criteria for determining qualifications, positive attributes,
independence of a Director.

The Company's remuneration policy is directed towards rewarding performance based on review of
achievements periodically. The remuneration policy is in consonance with the existing industry practice.

The Remuneration policy is available on the Company's website at http://www.timescan.in/pdf/
Remuneration%20Policy.pdf

Policy on Preservation and Archival of Documents

Your Company has formulated a policy on Preservation and Archival of Documents in accordance with
Regulation 9 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements)
Regulations, 2015. The Policy ensures that the Company complies with the applicable document retention laws,
preservation of various statutory documents and also lays down minimum retention period for the documents
and records in respect of which no retention period has been specified by any law/ rule/ regulation. It provides
for the authority under which the disposal/destruction of documents and records after their minimum retention
period can be carried out. The policy also deals with the retention and archival of corporate records of the

Company. The policy provides guidelines for archiving of corporate records and documents as statutorily
required by the Company.

The policy on Preservation and Archival of Documents is available on the Company's website at http://www.
timescan.in/pdf/Policv%20for%20Preservation%20&%20Archival%20of%20documents.pdf

Policy for Determination of Materiality of Events

Pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure
Requirements) Regulations, 2015, the Policy for Determination of Materiality of Events has been adopted by the
Board to determine the events and information which are material in nature and are required to be disclosed
to the concerned Stock Exchanges.

The policy for determination of Materiality of Events is available on the Company's website at http://www.
timescan.in/pdf/Policv%20for%20Determination%20of%20Materialitv%20of%20Events.pdf

Code of Conduct for Prevention of Insider Trading

Your Company has in place a Code for Prohibition of Insider Trading, under the Securities and Exchange Board
of India (Prohibition of Insider Trading) Regulations, 2015, which lays down the process of trading in securities
of the Company by the employees, designated persons and connected persons and to regulate, monitor and
report trading by such employees and connected persons of the Company either on his/her own behalf or on
behalf of any other person, on the basis of unpublished price sensitive information.

The Code of conduct for Prevention of Insider Trading is available on the Company's website at http://www.
timescan.in/pdf/Code%20of%20conduct%20for%20prevention%20of%20Insider%20trading.pdf

Code of Practices & Procedures for Fair Disclosure of Unpublished Price Sensitive
Information

Pursuant to Regulation 8(1) of Securities and Exchange Board of India (Prohibition of Insider Trading)
Regulations, 2015, Company has a Code of Practices and Procedures for Fair Disclosure of Unpublished Price
Sensitive Information, with a view to lay down practices and procedures for fair disclosure of unpublished price
sensitive information that could impact price discovery in market for its securities.

The Code of Practices & Procedures for Fair Disclosure of Unpublished Price Sensitive Information is available on
the Company's website at http://www.timescan.in/pdf/Code%20of%20Practices%20&%20Procedures%20
for%20Fair%20Disclosure%20of%20Unpublished%20Price%20Sensitive%20Information.pdf

Disclosure Under Sexual Harassment of Women at Workplace (Prevention,
Prohibition, and Redressal) Act, 2013

Your Company has always provided a safe and harassment free workplace for every individual especially
for women in its premises through various policies and practices. Your company has been actively involved
in ensuring that the clients and all the employees are aware of the provisions of the POSH Act and rights
thereunder. There was no complaint received by the Company during the financial year 2024-2025 under the
aforesaid Act.

Particulars of Remuneration to Employees

Disclosures pertaining to remuneration and other details as required under Section 197(12) of the Companies
Act, 2013 and Rule 5(1), 5(2) and 5(3) of the Companies (Appointment and Remuneration of Managerial
Personnel) Rules, 2014 is attached as "Annexure - F" to this Report.

General Shareholders Information and Disclosures

Human Resource Development

Given the significant growth potential in the organized sector, the Company continues to focus on managing
its workforce in a more strategic and structured manner. At Timescan, consistent efforts are undertaken to
make the Company a preferred place to work by fostering an environment where employees feel empowered,
engaged, and valued.

To support the overall growth and development of employees, the Company regularly conducts in-house
training and development programmes across various departments and functional areas. These initiatives are
aimed at enhancing skills, upgrading capabilities, and equipping employees to effectively meet the evolving
demands of their roles. By investing in continuous learning and development, the Company nurtures talent and
promotes a culture of excellence.

These initiatives have resulted in sustained employee morale and engagement throughout the year, which has
contributed positively to the Company's performance. The Board recognises that in the current competitive
business environment, achieving growth requires exceptional commitment and performance. While meeting
the aspirations of a talented workforce remains a continuous challenge, the Company embraces this as an
opportunity, firmly believing that the success of its employees is intrinsically linked to its long-term growth and
prosperity.

Reporting of Frauds

During the year under review, neither the Statutory Auditor nor the Secretarial Auditor has reported to the
Audit Committee under Section 143(12) of the Companies Act, 2013, any instances of the fraud committed by
the Company, its officers and employees, the details of which would need to be mentioned in the Board Report.

Significant/Material Orders Passed by the Regulators/ Courts/ Tribunal

During the financial year 2024-25, there were no significant or material orders passed by the Regulators or
Courts or Tribunals which affect the going concern status of the Company and its operations in future.

Proceeding Pending Under the Insolvency and Bankruptcy Code, 2016

No application has been made under the Insolvency and Bankruptcy Code; hence the requirement to disclose
the details of application made or any proceeding pending under the Insolvency and Bankruptcy Code, 2016 (31
of 2016) during the year along with their status as at the end of the financial year is not applicable.

Environment and Safety

The Company places strong emphasis on conducting environmentally responsible and safe operations. Its
policies are designed to ensure that all activities are carried out with due regard to the safety and well-being
of employees, communities, and other stakeholders, while fully complying with applicable environmental
regulations and standards.

The Company continuously reviews and strengthens its operational processes with the objective of minimizing
environmental impact, reducing waste, and conserving natural resources. By integrating sustainability

considerations into decision-making and operational strategies, the Company strives to promote a culture of
environmental responsibility and long-term sustainability across all levels of the organization.

Green Initiative j

Electronic copies of the Annual Report 2024-25 and the Notice of 19th AGM are sent to all members whose
email addresses are registered with the Company/depository participants(s). We strongly promote the purpose
and intention behind Green Initiative, and accordingly the required processes and efforts have been made to
encourage the shareholders to get their email addresses registered, so that Annual Reports, Notices and all
other concerned information can be received by them.

Appreciation & Acknowledgement j

Your Directors place on record their sincere appreciation to the Shareholders for the confidence and trust
reposed in the Company. The Board also extends its gratitude to the Company's valued Clients, Dealers,
Business Associates, Regulatory Authorities, and Government Departments for their continued support and
contribution towards the Company's growth and success.

The Directors further acknowledge with deep appreciation the commitment, dedication, and loyal services of
the employees at all levels, whose wholehearted efforts have been instrumental in achieving the Company's
overall performance. The Board also records its gratitude for the valuable guidance and support extended by
the Auditors, Legal Advisors, and Consultants.

Your Directors assure that the Company will continue to strive towards fulfilling the expectations and aspirations
of its Shareholders and stakeholders.

For and on behalf of Board of Directors of
Timescan Logistics (India) Limited

Sd/- Sd/-

Moulana Taufeek Islam Sundarraj Arunkumar

Managing Director Whole-time Director

DIN: 02125126 DIN: 07985890

Date: August 29, 2025
Place: Chennai