* Others includes other capital expenditure (refer note no. 50)

2.1 Gross Block of Freehold land include assets valuing ? 51.78 crore ( As at March 31 ,2023 : ? 51.85 crore ) in respect of which sale/lease deeds are yet to be executed

2.2 Gross Block of Leasehold land (including ROU assets) include assets valuing ? 44.39 crore (As at March 31, 2023 : ? 258.45 crore,) in respect of which sale/lease deeds are yet to be executed.

2.3 Gross Block of Buildings include assets valuing ? 6.48 crore (As at March 31, 2023: ? 6.48 crore ) in respect of which sale/lease deeds are yet to be executed.

2.4 Gross Block of Leasehold land, Buildings, Plant & Machinery & Vehicles includes ROU assets valuing ^1073.56 crore, ? 59.94 crore, ? 491.32 crore & ? 7.69 crore (

As at March 31, 2023: ? 1070.54 crore, ? 60.03 crore, ? 262.84 crore & ?7.41 crore ) respectively.

2.5 The above Assets ( Net block ) includes ? 2.61 crore (As at March 31, 2023: ? 4.41 crore) on account of assets retired from Active use and not held for sale.

2.6 Contractual Commitments for acquisition of property, plant and equipment are ? 624.45 crore (As at March 31, 2023: ? 1108.13 crore)

4.1 Significant intangible assets

A primary component of CONCOR's overall business strategy has been the development of an advanced information system. CONCOR is using various online applications like Export/Import Terminal Management System (ETMS), Domestic Terminal Management System (DTMS), Oracle Financials-ERP, CCLS (Container and Cargo Logistic System) for electronic filing of commercial documents and others, which are based on Centralized architecture deployed through Citrix environment and running over VSAT based hybrid network.

The carrying amount of significant software material for the operations of the company is ? 2.02 crore (As at March 31,2023: ?3.72 crore) will be fully amortized in 5 years as tabulated below:

Stores and spares include items costing ? 5.45 crore (2022-23: ? 5.54 crore), which have not been consumed during last three years. This includes ? 0.12 crore (2022-23: ? 0.12 crore) identified as obsolete spares and provided for. The management expects to use the remaining items in the operations and has not provided any allowance for such spares.

The cost of inventories recognised as an expense during the year was ? 23.96 crore (March 31, 2023: ? 28.67 crore). [Refer Note 33 (ii)]

12.1 Credit risk management

Credit risk refers to the risk that a counter party will default on its contractual obligations resulting in financial loss to the Group. At the inception of a service contract, the Group collects the predetermined expected dues in advance. The balance of trade receivables represents the additional amounts charged to the customers over and above the amount already collected towards the expected dues in advance. For the recovery of balance contractual payments, the Group has a legal right to auction the material of the customers and recover the dues in terms of the provisions contained in Customs Act, 1962.

Thus, the Group has limited exposure to credit risk.

12.2 Credit risk concentration

The concentration of credit risk is limited due to the fact that the customer base is large and unrelated. Customers represent more than 5% of the total balance of trade receivables comprise of the following:

Particulars

1. M/s Western Carriers India Pvt Ltd.

2. M/s Hapag Lloyd India Pvt Ltd.

3. M/s Maersk Line India Pvt Ltd.

4. M/s Food Corporation of India.

12.3 Allowance for expected credit loss

The Group has used a practical expedient by computing the expected credit loss allowance for trade receivables based on a provision matrix. The provision matrix takes into account historical credit loss experience and adjusted for forward-looking information. The expected credit loss allowance is based on the ageing of the days the receivables are due and the rates as given in the provision matrix. The movement in the expected credit loss allowance at the end of the reporting period is as follows

If the dividend has not been paid or claimed within 30 days from the date of its declaration, the company is required to transfer the total amount of the dividend which remain unpaid or unclaimed, to a special account to be opened by the company in a scheduled bank to be called "Unpaid Dividend Account". The unclaimed dividend lying with company is required to be transferred to the Investor Education and Protection Fund (IEPF), administered by the Central Government after a period of seven years from the date of transfer of such amount to unpaid dividend account.

An amount of ^2,16,557 (As at March 31, 2023: ? 2,96,673) has been deposited timely in the Investor Education &

Protection Fund._

**Deposits against government grant

The amount in deposit accounts represents the restricted balance in respect of Government grants.

Bank balances held as margin money or as security against # Guarantees

Guarantee given in respect of various contracts/tenders submitted with the respective parties.

***Letter of credit

Letter of credit is given for the payment to be made against Model concession agreement for TMS (Terminal Management System) with Northern Railways.

16.1 From 1st April 2020, Indian Railways has changed its Land Licence fee policy, due to which some of the Terminals were rendered unviable, which were handed over to Indian Railway along with un-amortized fixed assets available on them. The company has reduced its fixed Assets (Buildings, Roads & Pavements, electrical fittings and Railway Sidings) amounting to ? 77.08crore (P.Y: ? 77.41 crore) and the same has been shown as recoverable from Indian Railway. Further, pending confirmation of the amount payable by Railways on this account the company has also provided the same as doubtful recovery from Indian Railway.

18.1 Registration fees includes fee paid for running of container trains, registrations of Private Freight Terminals (PFT), etc.

18.2 CONCOR had recognized during the financial year 2015-16 to 2018-19 an amount totaling to ^1044.03 crores as the income on account of benefit available under Service Export from India Scheme (SEIS). The availability of this benefit to CONCOR was also confirmed through legal opinions. In FY-2019-20 Directorate General of Foreign Trade (DGFT), disallowed ? 861.05 crores of claim for SEIS by stating that services towards customs transit of foreign liners sealed containers by rail transport placed under customs control to/from ICDs are not eligible for SEIS, for which provision was made by the company and it also filed appeal against the same at the appropriate level.

(ii) Rights, preferences and restriction attached to shares

The Company has one class of equity shares having a par value of ? 5 per share. Each shareholder is eligible for one vote per share held. The dividend proposed by the Board of Directors is subject to the approval of the shareholders in the ensuingAnnual General Meeting, except in case of interim dividend. In the event of liquidation, the equity shareholders are eligible to receive the remaining assets of the Company after distribution of all preferential amounts, in proportion to their shareholding.

(v) Aggregate number and class of shares allotted as fully paid up by way of bonus shares (during 5 years immediately preceding March 31, 2024):

12,18,58,870 equity shares were issued on February 7, 2019 as fully paid Bonus shares, which were issued in the ration of 1:4 (one bonus share for every four shares) by Capitalising ? 60.93 crores from the reserve and surplus of the company.

The general reserve is used from time to time to transfer profits from retained earnings for appropriation purposes. There is no policy of regular transfer. As the general reserve is created by a transfer from one component of equity to another and is not an item of other comprehensive income, items included in the general reserve will not be reclassified subsequently to profit or loss.

22.1 Summary of borrowing arrangements

The subsidiary in the Group (Punjab Logistics Infrastructure Limited) has taken term loan from HDFC Bank of ? 70 crore on march 10,2016 at the rate of interest of 9.70% per annum for part project funding for Multi-Modal Logistics Park (MMLP) being set up near Mandi, Ahmadgarh Station, Ludhiana, Punjab (" the Project"). Rate of interest at the end of reporting date is 9.35% p.a.

This loan is secured against first charge by way of equitable mortgage on all the present and future fixed assets of the project of as well as hypothecation of all current and movable fixed assets of the project.

The entire loan will be repayable in 44 equal quarterly instalments over a period of 11 years with a moratorium period of 4 years and first instalment was paid on June 10th, 2020The subsidiary in the Group (Punjab Logistics Infrastructure Limited) has paid ? 67.99 Crores till 31.03.2024. Pending ? 2.01Crores will be paid in the next FY 2024-25.

22.2 Summary of 5% Redeemable Cumulative Preference Shares-Unsecured

During FY 2020-2021, the subsidiary company M/s Punj ab logistics Infrastructure Limited has issued 5 % cumulative redeemable preference shares (Non participating; Non convertible) of 1,00,00,000 each having a face value of ? 10/-each for general corporate purpose, working capital requirements and prepayment/repayment of debt. And

During FY 2023-2024, the subsidiary company M/s Punjab logistics Infrastructure Limited has issued has issued 5% cumulative redeemable preference shares (Non participating; Non convertible) of4,00,00,000 each having a face value of ? 10/- each for general corporate purpose, working capital requirements and prepayment/repayment of debt.

The said preference share has been issued to existing shareholders CONCOR & CONWARE in the proportion of 51:49 for the tenure of 10 Years from the date of allotment.

Redemption Amount: Face Value of ? 10 per share plus any dividend accrued but not paid on any previous year, dividend payment as well as dividend accrued upto redemption date. The Cumulative redeemable preference shares shall be redeemed out of profits of the company which would otherwise be available for dividend. (Include share issue expenses (FY 2020-2021: ? 37,50,000). Financial Liabilities are measured at amortised cost using the effective interest rate (EIR) method.

Amortised cost is calculated by taking into account any discount or premium or fee or costs that are integral part of EIR. The EIR amortization is included in finance costs in statement of Profit and loss. Financial liability shown to the extent of preference share held by CONWARE having significant influence on subsidiary M/s Punjab logistics Infrastructure Limited.

Note 25.1: The State Government after recognition of the benefits of the MMLP project has approved ? 4.40 crore under the ASIDE assistance to be utilised towards development of Rail Linked Logistics Park at Pantnagar. The amount of grant is utilised for the construction of property, plant and equipment related to the Rail linked Logistics Park and included in non - current liabilities as deferred income for the extent unamortised and are credited to Profit and Loss on a straight line basis over the useful life of the related asset.

The Group pays its vendors immediately when the invoice is accounted and no interest during the year has been paid or is payable. (Refer Note no. 54 for disclosure made under terms of the Micro, Small and Medium Enterprises Development Act, 2006).

The Group has financial risk management policies in place to ensure that all payables are paid within the pre-agreed credit terms.

Note 28.1:

During FY 2015-16, the company had received ?8.73 crore from Ministry of Commerce and Industry under Assistance to States for Development of Export Infrastructure and Allied Activities Scheme (ASIDE scheme) for construction of Road Over Bridge (ROB) to facilitate the Multi Modal Logistics Park (MMLP) project led by the company. However, as the ROB project is long pending and no development in the project is seen in spite of all the sincere efforts by the management, the said amount was not utilised till date for the project and therefore the management has refunded ?7.50 crore during financial year 2017-18.

The MOCI demanded the interest on the grant amount and the company had not acknowledged the interest as debt in earlier years but requested for the waiver of the interest. The same is being pursued with the MOCI pending any decision from MOCI, A provision of ?1.05 crore has been made in the books of Accounts in FY 2019-20.

(i) Storage and Warehousing income is net of waivers of ? 0.82 crore (2022-23: ? 0.12 crore)

(ii) Export Incentive includes ? Nil crore (2022-23: ?Nil crore) towards Grants under SFIS, which had been recognised at the time of utilisation of these scripts towards procurement of Assets and Inventories.

(iii) Other operating income includes ? 8.21 crore (2022-23: ? 8.45 crore) towards consultancy income, which has been received from M/s Gateway Terminals India Private Limited.

(iv) Other operating income includes following income which exceeds one per cent of the revenue from operations or ? 10,00,000 whichever is higher:

* As per CONCOR House Building Advance Rules, CONCOR is providing House Building Advance (HBA) facility to all regular employees of the Corporation, who on the date of submitting application for advance have rendered not less than three years’ continuous services. As per earlier HBA rules, simple interest @ 5% per annum on the loan amount up to ? 5.5 lakhs & interest @ 7.5% per annum on loans beyond ? 5.5 lakhs. Rebate was provided “in case of employees superannuating from CONCOR services or die in harness or become medically incapacitated for reasons not connected with intemperate habits or putting 10 years of minimum regular service from the date of availed of advance, a rebate @ 50% in the interest rates was allowed”. During the Financial year 2022-23, the company has changed its policy and decided that interest @ 3 % will be charged on HBA's or where the HBA amount/interest is outstanding as on date or the rebate for the loan is yet to be availed. Resultantly HBA interest was recalculated from date of disbursement of loan & benefit of the same was passed on to employee amounting to ? 11.35 crores. Rebate on HBA amounting to ? 0.50 crores is for F.Y 2022-23 & ? 10.85 crores for previous years. Hence, in. F.Y. 2022-23 “Interest income earned on Financial assets carried at amortised cost” on loans given to employees is ? (3.36) crores. ¹

*During the year, the Company has booked LLF amount of ? 373.20 crores (2022-23: ? 393.76 crores), which is net off past provisions of ? 68.20 crores (2022-23: ? 6.22 crores) (Refer note no. 58).

33(i) The subsidiary- M/s Concor Air Limited (CAL) in the Group had entered into concession agreements with Mumbai International Airport Private Limited (MIAL) for operation and management of the domestic cargo facilities and provision of the cargo handling and related services. In consideration of the grant of the concession by the MIAL to the Company, Company was required to pay to MIAL a fee that is higher of minimum monthly guarantee fee or revenue share of 42% of gross revenue for domestic operations. The Contract period is up to Jan. 2026 but in the interest of CONCOR Air Ltd., the termination is done before the expiry of the Concession period. CAL was running the facility on the request of MIAL for the period upto 31st March 2023. As per the agreed terms and conditions the surplus over and above the cost is payable to MIAL.

33(ii) Handling & Other Operating expenses include ? 112.92 crore (2022-23: ? 116.07 crore) & ? 23.96 crore (202223: ? 28.67 crore) towards power & fuel and consumption of stores & spare respectively. Details of expenditure on consumption of imported & indigenous stores and spare are as follows: ² liability for all employees of the Company, as all employees after superannuation or separation after rendering services for continued period of specified years are entitled for such benefits.

Due to this, during the year, an amount of ? -7.35 crores (2022-23: ? -34.60 crores) was provided: ? 1.09 crores (2022-23: ? 4.05 crores) has been charged to Statement of Profit & Loss and ? 8.44 crores (2022-23: ? 38.65 crores) has been included in Other Comprehensive Income.

(*) The subsidiary in the Group (Punjab Logistics Infrastructure Limited) has taken term loan from HDFC Bank on March 10,2016 at the rate of interest of 9.70% per annum for part project funding for Multi-Modal Logistics Park (MMLP) being set up near Mandi Ahmadgarh Station, Ludhiana, Punjab ("the Project"). Rate of interest at the end of reporting date is 9.35% p.a. ³

The Company opted to exercise the option permitted under section 115BAA of the Income Tax Act, 1961 as introduced by the Taxation Laws (Amendment) Act, 2019 and has taken 25.168% rate of Corporate Tax in its accounts. Accordingly, the Company has recognized provision for income tax for the year ended 31st March 2024 & 31st March 2023 and remeasured its deferred tax assets/ liabilities on the basis of the above option.

A. Defined Contribution Plans

a) Employers Contribution to Provident Fund

Group pays fixed contribution to Provident Fund at predetermined rates to a separate trust, which invests the fund in permitted securities. The contribution to the fund for the period is recognized as expense and is charged to the profit & loss account. The obligation of the Group is limited to such fixed contribution. However, the trust is required to pay a minimum rate of interest on contributions to the members as specified by Government. As per actuarial valuation such liability is NIL as at March 31,2024, (As at March 31, 2023: NIL)

C. Defined Benefit Plans and Other Long Term Benefits

a) Contribution to Gratuity Funds - Employee's Gratuity Fund

The Group has a defined benefit gratuity plan, which is regulated as per the provisions of Payment of Gratuity Act, 1972. The scheme is funded by the Group and is managed by a separate Approved Trust. The liability for the same is recognized on the basis of actuarial valuation. However, the Group does not sponsor the funded defined benefit plans for any of its subsidiaries.

b) Leave Encashment/ Compensated Absence.

The company has a defined benefit leave encashment plan for its employees. Under this plan, they are entitled to encashment of earned leaves and medical leaves subject to certain limits and other conditions specified for the same. The liabilities towards leave encashment have been provided on the basis of actuarial valuation.

c) Retirement Allowance

The Group has formed a medical trust, which takes care of medical needs of its employees after their retirement. Their entitlement for reimbursement of medical expenses is regulated as per the policy. The liability for the same is recognized on the basis of actuarial valuation.

These plans typically expose the Group to actuarial risks such as: investment risk, interest rate risk, longevity risk and salary risk.

The sensitivity analysis presented above may not be representative of the actual change in the defined benefit obligation as it is unlikely that the change in assumptions would occur in isolation of one another as some of the assumptions may be correlated.

Furthermore, in presenting the above sensitivity analysis, the present value of the defined benefit obligation has been calculated using the projected unit credit method at the end of the reporting period, which is the same as that applied in calculating the defined benefit obligation liability recognised in the balance sheet.

There was no change in the methods and assumptions used in preparing the sensitivity analysis from prior years.

Gratuity

The estimated term of the benefit obligations in case of gratuity is 8.92 years (As at march 31, 2023: 9.10 years)

The Group expects to contribute ? 5.66 crore to its gratuity plan in the next financial year Leave Encashment

The estimated term of the benefit obligations in case of leave encashment is 8.92years (As at March 31, 2023: 9.10 years)

Leave Travel Concession

The estimated term of the benefit obligations in case of leave travel concession is NA (As at March 31, 2023: NA)

There has been no change in the process used by the Group to manage its risks from prior periods.

42.1 Services from which reportable segments derive their revenues

The Segment reporting disclosed by the Group in this section is presented in accordance with the disclosures requirements of Ind AS 108 "Operating Segment".

Information reported to the chief operating decision maker (CODM) for the purposes of resource allocation and assessment of segment performance focuses on the divisions operated in the Group and in respect of two major operating divisions- EXIM and Domestic, which are organized on All India basis. The information is further analysed based on the different classes of customers. Both EXIM and Domestic divisions of the companies in the Group are engaged in handling, transportation and warehousing activities. No operating segments have been aggregated in arriving at the reportable segments of the Group.

As at March 31, 2024, the operating segment of the Group are as under:

The companies in the group are organised into two major operating divisions- EXIM and Domestic. The divisions are the basis on which the Company reports its primary segment information for the Group. Segment revenue and expenses directly attributable to EXIM and Domestic segments are allocated to the two

segments. Joint revenue and expenses have been allocated on a reasonable basis. Segment assets include all operating assets used by a segment and consist principally of inventories, sundry debtors, cash and bank balances, loans, advances, other current assets and fixed assets net of provisions. Similarly, segment liabilities include all operating liabilities and consist principally of sundry creditors, advance/deposits from customers, other liabilities and provisions. Segment assets and liabilities do not, however, include provisions for taxes. Joint assets and liabilities have been allocated to segments on a reasonable basis.

The operations of the Group are presently confined to the geographical territories of India. Therefore, there are no reportable geographical segments.

The accounting policies of the reportable segments are the same as the Group’s accounting policies described in note 1. Segment profit represents the profit before tax earned by each segment without allocation of central administration costs and directors’ salaries, investment income, other gains and losses, as well as finance costs. This is the measure reported to the chief operating decision maker for the purposes of resource allocation and assessment of segment performance.

Revenue and expenses directly identifiable to the segments have been allocated to the relatively primary reportable segments.

Segment revenue and expenses which are not directly identifiable to the primary reportable segments have been disclosed under unallocable, which primarily includes interest and other income and Corporate Expenses. Other income includes Rent income, dividend income and Interest Income. Corporate Expenses includes Employee staff benefit expense, Administrative expense and Depreciation expense of Corporate office.

As a lessee

The Company has entered into Operating leases arrangements for Land, Vehicles, Containers, Plant & Machinery, Railway Wagons/Rakes, Office Premises, Accommodation Provided to Staffs etc. with different lease terms.

The Company has accounted lease payment associates with short term leases (having lease term of 12 months or less) and leases of low value assets (less than ? 3.5 lakhs) as an expense on either a straight-line basis over the lease term or another systematic basis.

The Company has entered into agreement(s) with Indian Railways, for utilization of its land leased to CONCOR for setting up of Company’s Terminals and carrying out Company’s operations at such terminals.

In FY 2020-21, Ministry of Railways, Government of India vide its order no.2015/LML-II/13/4 dated 19.03.2020, had communicated that the Land License Fee (LLF) applicable on the Railway land leased to CONCOR shall be charged w.e.f. 01.04.2020 as per extant policy of Railways i.e. @6% of the value of land, which will be further increased 7% annually. Subsequently, superseding all previous policies/ guidelines, Railways has issued a Master Circular (MC) on Policy for Management of Railway Land on 4th October 2022. In the MC, it has been reiterated that annual LLF on the existing land will be payable @6% of Market Value (MV) of land with annual escalation of 7%. The MV will be the industrial rate specified in the State and when it is not specified in the State, then any other rate depending upon use of surrounding land as specified by the State/ Revenue Office, shall be considered.

On the basis of above MC of Railways, LLF for the FY 2023-24 has been booked on the MV of Railways’ land parcels obtained by CONCOR. In some cases, where there is inconsistency in the assessment of land area and MV of land between the Company and the Railways, the same is being reconciled with the concerned divisional Railways. Further, in terms of the MC the new Agreement(s) with the Railways for the land parcels leased to CONCOR will be executed as and when the same are finalized by Railways.

In view of above, the quantification of company’s potential exposure for land licensed by Indian Railways in future is not ascertainable. Therefore, the Company has not recognized Right of Use (ROU) Asset and Lease Liability for lands licensed by Indian Railways

(1) Capital management

The Group's risk management committee reviews the capital structure on an annual basis or frequently as and when need arises. As part of this review, the committee considers the cost of capital and the risks associated with each class of capital. Based on this, the Group determines the amount of capital required for annual and longterm operating plans. The funding requirements are met through equity and borrowings. The Group monitors the capital structure on the basis of Net debt to equity ratio and maturity profile of the overall debt portfolio of the Group.

The capital structure of the Group consists of net debt (borrowings as detailed in note. 22 are offset by cash and bank balances) and total equity of the Group.

The gearing ratio enables investors to see how significant net debt is relative to equity from shareholders. After the infusion of debt during 2015-16, the subsidiary in the Group is subject to externally imposed capital requirements against the term loan borrowed from HDFC Bank from the third year of its operations. As per the financial covenants exposed by bank, the subsidiary in the Group has to maintain tangible net worth below 2 and total debt service coverage ratio (DSCR) should be greater than 1.25.

(iii) Financial risk management objectives

The Group’s corporate treasury function monitors and manages the financial risks relating to the operations of the Group by analysing exposures by degree and magnitude of risks. These risks include market risk (including

currency risk and price risk), credit risk and liquidity risk.

(iv) Market Risk

The Group’s activities is exposed primarily to the financial risks of changes in foreign currency exchange rates. Market risk exposures are measured using sensitivity analysis.

There has been no change to the Group's exposure to market risks or the manner in which these risks are being managed and measured.

(v) Foreign Currency risk management

The company is not subject to significant transactions denominated in foreign currencies. The company does not have earnings in foreign currency but the foreign currency outgo made during the year is ? 0.63 crore (2022-23 : ? 0.50 crore ) against which the net gain/(loss) on foreign currency transactions recorded in the books is insignificant .Consequently, exposures to exchange rate fluctuations are limited.

(vi) Interest rate risk management

The Group is exposed to interest rate risk because the Group has borrowed the funds at floating interest rate in the Financial year 2015-16. The current effective interest rate used by the Group is bank's base rate as per bank advice to record interest expense till the moratorium period of 4 years. However after moratorium period, the bank will charge at its bank base rate and spread which shall be reset on yearly basis from the date of first draw down.

The Group is exposed to the change in bank base rate as well as additional spread if reset by the bank during the tenure of the loan. A 50 basis points increase / decrease in the interest rate as at 31 March 2024 will lead to ? 0.01 crore (31 March 2023 will lead to ? 0.25 crore) increase/ decrease in the profit recorded during that period.

(vii) Other price risks

The company is not exposed to price risk as its investments in debt based marketable securities are held in a business model to collect contractual amounts at maturity and are carried at amortised costs. Thus the change in fair value of these investments does not impact the Company.

(viii) Credit risk management

Credit risk refers to the risk that a counterparty will default on its contractual obligations resulting in financial loss to the Company. The Company has limited exposure to credit risk owing to the balance of trade receivables as explained in Note no. 12. Company's bank balances and investments in marketable securities are held with a reputed and creditworthy banking institution resulting to limited credit risk from the counterparties.

(ix) Liquidity risk management

The Group manages liquidity risk by maintaining adequate reserves and continuously monitoring forecast and actual cash flows and by matching the maturity profiles of financial assets and liabilities.

*The Group had been sanctioned a term loan of ^150.00 crores by HDFC Bank Limited for a capital outlay of ^280.00 crores for funding the Multi Modal Logistics Park being set up in district Ludhiana vide their sanction letter dated 31.07.2015. The bank had disbursed of ^70.00 crores against the sanctioned loan.

*The Management has assessed the above claims and recognized a provision of ?Nil (PY : 0.24 crore) based on probability of outflow of resources embodying economic benefits and estimated ? 1373.58 crore (PY: ? 1058.22 crore as the amount of contingent liability including LLF Demand from railways for few terminals i.e. amounts for which Company may be held contingently liable. In respect of such estimated contingent claims either outflow of resources embodying economic benefits is not probable or a reliable estimate of the amount required for settling the obligation cannot be made. In respect of the rest of the claims/obligations, possibility of any outflow in settlement is considered as remote.

c). Contingent liabilities are disclosed to the extent of claims received and include an amount of ? 42.68 crore (2022-23: ? 33.09 crore), which may be reimbursable to the company. Any further interest demand on the basic claim is not considered where legal cases are pending, as the claim itself is not certain. No provision has been made for the contingent liabilities stated above, as on the basis of information available, careful

evaluation of facts and past experience of legal aspects of the matters involved, it is not probable that an outflow of future economic benefits will take place.

d) . A demand of ? 158.84 crore received from SDMC towards property tax of ICD/Tughlakabad whereas as per

the opinion of Advocate no provision of property tax was being made in the books earlier and no demand were ever received in this regard. Out of ^158.84 crore an amount of ? 23.06 crore (2023-24: ?3.55 crore , 2022-23 : ?7.25 crore , 2020-21 : ^10.76 crore & 2019-20 :?1.50 crore) has been deposited with SDMC towards service charge as applicable on other PSU i.e M/s DMRC . Stay order has been granted by H'nable Delhi High Court & Final Order is awaited. ? 135.78 crore has been included in the contingent liability.

e) . Disallowance of SFIS Scrips For AY 2013-14 was quashed by Hon'ble ITAT/Delhi and Department has filed

appeal against the orders with Hon'ble High Court/Delhi and the same is pending with Hon'ble High Court/Delhi.

In respect of AY 2008-09, department has filed a Miscellaneous application in ITAT for disallowance of 801A- Rail System (Rolling Stock). The same matter has already been allowed in favor of CONCOR by Apex Court in case of AY 2003-04 to AY 2005-06. The case in respect of AY 2008-09 is pending for decision in ITAT.

In respect of AY 2014-15, CONCOR'S appeal against "Disallowance of ? 5.46 Crores w.r.t. amortisation of leasehold land" was allowed by ITAT and referred to AO for statistical purpose vide ITAT Order (ITA No. 2367/Del/2018) dated 10.03.2021.

Further, CONCOR's appeal against "Disallowance of ? 1.51 Crores w.r.t. Prior Period Expense" was allowed by CIT (A), Delhi-2 vide its order (10420/2019-20) dated 31.10.2023 .

g). The company entered into contract for supply of 1320 wagons by Hindustan engineering and Industries (HEI). After the supply of 1050 wagons, the contract was terminated during FY 2004-05, for non-fulfillment of obligation on the part of HEI. The company invoked the bank guarantee of ? 5.99 crore for refund of unadjusted advance and ? 7.37 crores towards performance guarantee for non fulfillment of terms of contract on the part of HEI. The matter was referred to an Arbitration Tribunal comprising three members, which has given majority award amounting to ? 39.58 Crores and interest @ 15% from date 22.05.2005 to 13.11.2013 amounting to ? 50.37 crore, totaling to ? 89.95 Crore 18% interest p.a. from the date of award to the date of payment in favor of M/s Hindustan Engineering Industries on 13.11.2013. Minority award by Co-Arbitrator

has been given amounting to ? 14.61 crore in favor of the company. The majority award given in favor of HEI has been challenged by the company under section 34 of Arbitration and Conciliation Act, 1996 in the High Court of Delhi at New Delhi on dated 07.03.2014. Last hearing in this case was held on 24.04.2024 & next Hearing is schedule for 30.07.2024

h) . The Company has executed "Custodian cum Carrier Bonds" of ?25,139.69 crore (Previous year: ? 26,588.19

crore) in favour of Customs Department under the Customs Act, 1962. These bonds are of continuing nature, for which claims may be lodged by the Custom Authorities. Claims lodged during the year Nil (previous year: NIL).

i) . No further provision is considered necessary in respect of these matters as the company expects favourable

outcome. It is not possible for the company to estimate the timing of further cash outflows, if any, in respect of these matters.

k). During the year, the subsidiary in the Group (FHEL) has the following contingent liabilities.

(i) Carrots were stored by M/s GAPL in FHEL’s facility. M/s GAPL disputed the rental and requested for arbitration. FHEL approached arbitrator to recover rental charge and handling charge of ?0.87 crore and M/s GAPL approached Arbitrator for claim of ?4.59 crore on quality issues. Arbitrator awarded ?0.87 crore in favour of FHEL and ?0.80 crore in favour of M/s GAPL. Both approached Hon’ble High Court and filed appeal against the Arbitrator award. The case is pending in High Court, Delhi.

(ii) A Claim of ? 0.53 crore (Previous year: ? 0.53 crore) against FHEL has been filed by the Growers of Shimla area which is under arbitration proceeding. A counter claim of ?1.69 crore (Previous year: ?1.69 crore) has also been filed by the Company.

(iii) M/s Pulkit Industries have invoked arbitration clause for 2 tenders. The claim amount is ? 0.19 crore plus interest. The arbitrator has awarded in favour of M/s Pulkit Industries which has been challenged by the FHEL and the matter has been pending with Patiala House Court.

(iv) M/s J. Papyrus Packaging Pvt. Ltd. has filed an execution petition as per the arbitration award of ?0.09 crore. As per the directions of the court an amount of ? 0.04 crore has been deposited with the Court Additional District Judge- District Court- Sonepat. FHEL has challenged the award and also the execution petition at Sonepat court.

(v) HSIIDC vide its letter dated 26.09.2018 has communicated that they have revised the monthly lease rental from ? 1.50 per sq. mtr per month to ? 15/- per Sq. mtr per month with annual increase of 10% every year w.e.f. 26.03.2018. However, HSIIDC has been requested to maintain the rental rate @? 1.50 per sq. mtr per month till FHEL starts earning profit. Thus, in case of any revision of rental rate to ? 15/- per sq mtr per month with annual increase of 10% every year w.e.f. 26.03.2018, there may arrive liability of ? 9.24 crore.

(vi) Mr. Surjeet Singh Rana prop. M/s Madadh Poultry Farm have file a recovery suit against FHEL Claiming an amount of ?0.19 crore plus interest @ 18% which has been challenged by FHEL and the matter is pending with District Court, Sonipat.

vii) Madadh Poultry farm C/o Sushil Jindal have file a recovery suit against FHEL Claiming an amount of ? 0.18 crore plus interest @ 18% which has been challenged by FHEL and the matter is pending with District Court, Sonipat.

viii) M/s SRF International & M/s SFA Enterprises had filed a recover suit against FHEL claiming an amount of ? 2.50 crore plus interest @ 24% , which has been challenged by FHEL and the matter is pending with High Court, New Delhi.

(a) During the year, the company realized ? 10.00 crore (previous year ? 41.84 crore) (net of auction expenses) from auction of unclaimed containers. Out of the amount realized, ? 2.67 crore (previous year ? 9.17 crore) is paid/payable as custom duty, ? 6.70 crore (previous year ? 32.13 crore) has been recognised as income and the balance of ? 0.63 crore (previous year ? 0.54 crore) has been shown under Current Liabilities.

(b) Current liabilities include ? Nil crore (As at March 31 2023 ? Nil crore) towards un utilized capital grant received for acquisition of specific fixed assets in CONCOR/business arrangements. ? Nil crore has been recognised in the Statement of Profit and Loss for the year ended March 31, 2024 (previous year: ? Nil crore).

(c) Current liabilities include ? 1.82 crore (As at March 31 2023 ? 1.82 crore) towards un utilized revenue grant received from National Horticulture Board for offsetting the freight for the Horticulture Projects.

(d) Out of the capital grant of ? 51.39 crore (previous year: ? 56.17 crore), an amount of ? 5.11 crore (previous year: ? 4.78 crore) has been recognised in the Statement of Profit and Loss and the balance of ? 46.28 crore (previous year: ? 51.39 crore) is shown under other current liabilities.

The company has not remitted any amount in foreign currency on account of dividend during the year.

Provisions relating to disclosure of information as required by Companies Act, 2013 in case of companies other than

service companies are not applicable, as the company has no manufacturing, trading and financing activities.

56. Works carried out by Railways/its units for the company are accounted for on the basis of correspondence /estimates/advice etc.

57. India Gateway Terminal (P) Ltd. (IGTPL) is a joint venture of CONCOR with Hindustan Ports Pvt. Ltd & others for setting up and managing of container terminal at Cochin. Though CONCOR’s share in the accumulated losses (as per unaudited financial statements for FY 2023-24) of this JV are as at ? 44.69 crores & does not exceeds its investment of ? 54.60 crores as on 31st March 2024, no provision for diminution in the value of investment has been made, as with the management’s consistent review and implementation of appropriate business strategy, the company has already made a turnaround. The same is clearly established from the unaudited financial statements of IGTPL for FY 2023-24..

Management has also tested this investment for impairment in accordance with the conditions laid own under IND AS-36 “Impairment of Assets”. As per the impairment testing carried out by the management, it has been established that the Value in Use i.e., the present value of future expected cash flows that will accrue from the improving/enhancing of its asset’s performance exceed the carrying value of investment. IND AS-36 states that impairment needs to be provided if and only if the carrying value of investments exceeds its value in use or fair value.

58. In FY 2020-21, Ministry of Railways, Government of India vide its order no.2015/LML-II/13/4 dated 19.03.2020, had communicated that the LLF applicable on the Railway land leased to CONCOR shall now be charged w.e.f. 01.04.2020 as per extant policy of Railways i.e. @6% of the value of land, which will be further increased 7% annually.

Accordingly, as per the company assessment, an amount of ? 373.20 crore (2022-23: ^393.76 crore) has been booked, net off past provisions of ? 68.20 crores (2022-23: ? 6.22 crore) as Land License fee payable to Indian Railways in current financial year as per extant policy of Railways.

60. There are no Loans or Advances in the nature of loans are granted to promoters, directors, KMPs and the related parties (as defined under Companies Act, 2013), either severally or jointly with any other person, that are:(a) repayable on demand; or (b) without specifying any terms or period of repayment.

61. Details of Crypto Currency or Virtual Currency:- The Company has not traded or invested in Crypto currency or Virtual Currency during the financial year.

62. Details of Benami Property held:- The Company does not hold any benami property under the Benami Transactions (Prohibition) Act, 1988. and no proceedings have been initiated or pending against the company under the said Act.

63. The Company does not have any borrowings outstanding as on 31.03.2024 and has not borrowed any funds from banks or financial institutions on the basis of security of current assets during Financial Year 2023-24. Considering the same, the company has not been declared as wilful defaulter by any bank or financial Institution or other lender and no charges or satisfaction are yet to be registered with ROC beyond the statutory period.

64. Relationship with Struck off Companies: "The Company does not have any transactions with companies struck off under section 248 of the Companies Act, 2013 or section 560 of Companies Act, 1956.

65. The company has complied with provision related to the number of layers prescribed under clause (87) of section 2 of the Act read with the Companies (Restriction on number of Layers) Rules, 2017

66. No Scheme of Arrangements has been approved by the Competent Authority in terms of sections 230 to 237 of the Companies Act, 2013.

67. The company has not received any fund from any person(s) or entity(ies), including foreign entities (Funding Party) with the understanding (whether recorded in writing or otherwise) that the company shall (i) 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 (ii) provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries.

68. The Company does not have any transaction 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. Further, there were no previously unrecorded income and related assets which were required to be properly recorded in the books of account during the year.

69. (a) Unless otherwise stated, the figures are in rupees crore. Previous year’s figures have been restated, regrouped and rearranged, wherever considered necessary.

(b) Balances of Sundry Debtors, Sundry Creditors and advances to other parties including Railways shown in financial statements are subject to confirmation/reconciliation. In the opinion of the management, there shall not be material liability.

70. (a) In FY 2023-24, an amount of ? 17.52 crore (In FY 2022-23 ? 19.59 crore.) has been utilized on various social activities undertaken including development of aspirational districts adopted by CONCOR by taking up healthcare activities in districts, i.e., Chandauli, Chirtakoot, Uttar Pradesh under CONCOR CSR activities. Apart from above activities in aspirational districts, CONCOR has undertaken various other activities as per its CSR policy and Companies Act 2013. Some of the major projects

are related to creating infrastructure for schools and healthcare centre, procurement of medical equipment’s, organization of health camps, sport facilities, environment activities, installation of solar lights etc.

(v) Reason for shortfall: Some amounts allocated for spending towards CSR could not be utilized during the year, mainly due to not completion of project on time by implementing agencies with whom CONCOR has signed MOU due to various reasons including non-availability of men & material in respect of construction works as well as shortage of required equipments/ goods which are to be supplied by implementing agencies to beneficiaries, etc.

(vi) Nature of CSR activities: Company identified the areas of CSR activity as per provisions of schedule VII of Companies Act 2013, which include health & medical care, sanitation, education/literacy enhancement, community development, rural development, environment protection, conservation of natural resources, and infrastructure development.

(vii) No transactions with related parties, e.g., contribution to a trust controlled by the company in relation to CSR expenditure as per relevant Accounting Standard.

(viii) No provision is made with respect to a liability incurred by entering into a contractual obligation.

72. In respect of JV Gateway Terminals India Private Limited, Company share is 26%. As reported previously, the Companies revenue is determined by Tariff Authority for Major Parts (TAMP) based on the applicable tariff guidelines. TAMP notified a reduction of tariff by 44.28% as compared to the existing rates vide its order dated July 2, 2012 w.e.f. February 12, 2012.

The said order was challenged by the company and against which Bombay High Court issued an interim order on July 2, 2012 stating “Pending further orders the petitioners shall be permitted to charge and collect the tariff at the rates prevailing prior to impugned order dated January 19, 2012. However the petitioners shall keep the account of every such transaction and in the event of the petitioners not succeeding in the writ petition, collection of any amounts by the petitioners over and above the tariff prescribed by the impugned order, shall be subject to the further orders of this court.” . A petition has also been filed by the Indian Private Ports & Terminals Association at Delhi high court, which is being heard. The Company has been legally advised on the matter on the merits of the case and also the Company's right to use the Tariff Differential collected for the operations of the Company. Based on legal advice obtained, the Company had recognized revenue at gross level in the books and utilized the Tariff Differential collected on the invoice raised, for the day to day operation of the Company.

The Company also paid revenue share to Jawaharlal Nehru Port Trust (now known as Jawaharlal Nehru Port Authority) on the Tariff Differential collected based on the MOU entered between both the parties.

Income from Port Services for the year includes revenues of ? Nil crore (previous year: ? Nil crore) pertaining to differential tariff. Appropriation of income to JNPT for the year includes ? Nil crore (previous year ? Nil crore) pertaining to differential tariff. As at March 31, 2024, the Company has accounted revenue of ?2457.26 crore (Previous year:? 2457.26 crore) pertaining to differential tariff and has appropriated income to JNPT of ?872.40 crore (as at March 31, 2023: ? 872.40 crore) on the above differential tariff for the period February 23, 2012 to April 01, 2020.

73. Approval of financial statements

The financial statements were approved for issue by the Board of Directors in its meeting held on 16th May, 2024.

1

Miscellaneous Income includes ? 22.97 crore received from Indian Farmers Fertiliser Cooperative (IFFCO) towards development of an area of 35.5 Acres exclusively dedicated to IFFCO for handling and warehousing of IFFCO cargo rakes at MMLP Paradip (Previous Year: ^46.87 crore).

2

In the years prior to FY 2020-21, the Company has been providing liability for Post Retirement Medical Benefits for retired employees. However, from FY 2020-21 onwards, the actuarial valuation has been done for the expected

3

Dividend on redeemable preference shares has been computed by using effective interest rate (EIR) after taking into account the costs that are integral part of EIR.