Allcargo Logistics Ltd — Interim / Quarterly Report 2025

Feb 13, 2025

==> picture [117 x 66] intentionally omitted <==

February 13, 2025

To, BSE Limited Phiroze Jeejeebhoy Towers, Dalal Street, Fort, Mumbai-400 001 BSE Scrip Code:532749	To, National Stock Exchange of India Limited Exchange Plaza, C-1, Block G, Bandra Kurla Complex, Bandra (East), Mumbai - 400 051 NSE Symbol:ALLCARGO

Dear Sir/Madam,

Subject: Integrated Filing (Financial) for the quarter and nine months ended December 31, 2024.

In accordance with amendments to the SEBI (Listing Obligations and Disclosure Requirements) (Third Amendment) Regulations, 2024 read with SEBI Circular No. SEBI/HO/CFD/CFDPoD2/CIR/P/2024/185 dated December 31, 2024, read with BSE Circular No. 20250102-4 and NSE Circular No. NSE/CML/2025/02 dated January 02, 2025, the Integrated Filing (Financial) for the quarter and nine months ended December 31, 2024 is enclosed herewith.

The aforesaid information shall be made available on the Company's website at www.allcargologistics.com.

Kindly take the above on record.

Thanking you,

Yours faithfully For Allcargo Logistics Limited DEVANAND Digitally signed by DEVANAND PARSHOTTA PARSHOTTAM MOJIDRA Date: 2025.02.13 M MOJIDRA 21:06:27 +05'30'

Devanand Mojidra Company Secretary & Compliance Officer Membership No.: A14644

Encl: a/a

ALLCARGO LOGISTICS LIMITED

Allcargo House, 6[th] Floor, CST Road, Kalina, Santacruz (E), Mumbai - 400 098. Maharashtra. India. T: +91 22 6679 8110 | www.allcargologis�cs.com | CIN: L63010MH2004PLC073508 | GSTN: 27AACCA2894D1ZS

e-mail id: investor.relations@allcargologistics.com

12th Floor, The Ruby 29 Senapati Bapat Marg Dadar (West) Mumbai - 400 028, India Tel: +91 22 6819 8000

==> picture [208 x 14] intentionally omitted <==

Independent Auditor’s Review Report on the Quarterly and Year to Date Unaudited Standalone Financial Results of the Company Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended

Review Report to The Board of Directors Allcargo Logistics Limited

1. We have reviewed the accompanying statement of unaudited Standalone Financial Results of Allcargo Logistics Limited (the “Company”) for the quarter ended December 31, 2024 and year to date from April 01, 2024 to December 31, 2024 (the “Statement”) attached herewith, being submitted by the Company pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (the “Listing Regulations”).

2. The Company’s Management is responsible for the preparation of the Statement in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34, (Ind AS 34) “Interim Financial Reporting” prescribed under Section 133 of the Companies Act, 2013 as amended, read with relevant rules issued thereunder and other accounting principles generally accepted in India and in compliance with Regulation 33 of the Listing Regulations. The Statement has been approved by the Company’s Board of Directors. Our responsibility is to express a conclusion on the Statement based on our review.

3. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410, “Review of Interim Financial Information Performed by the Independent Auditor of the Entity” issued by the Institute of Chartered Accountants of India. This standard requires that we plan and perform the review to obtain moderate assurance as to whether the Statement is free of material misstatement. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.

4. Based on our review conducted as above, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with the recognition and measurement principles laid down in the aforesaid Indian Accounting Standards (‘Ind AS’) specified under Section 133 of the Companies Act, 2013 as amended, read with relevant rules issued thereunder and other accounting principles generally accepted in India has not disclosed the information required to be disclosed in terms of the Listing Regulations including the manner in which it is to be disclosed or that it contains any material misstatement.

==> picture [208 x 14] intentionally omitted <==

Allcargo Logistics Limited- Standalone LRR- December 31, 2024 Page 2 of 2

1. We draw attention to Note 10 to the Statement, describing the Search operation by the Income tax Authorities at Company’s office. Our conclusion is not modified in respect of this matter.

For S.R. Batliboi & Associates LLP Chartered Accountants ICAI Firm registration number: 101049W/E300004

Digitally signed by Aniket Anil Aniket Anil Sohani DN: cn=Aniket Anil Sohani, c=IN, o=Personal, Sohani email=aniket.sohani@srb.inDate: 2025.02.13 20:40:54 +05'30'

per Aniket Sohani Partner Membership No.: 117142 UDIN: 25117142BMKVPK8557 Mumbai February 13, 2025

==> picture [94 x 47] intentionally omitted <==

ALLCARGO LOGISTICS LIMITED

Regd Office: Allcargo House, 6th Floor, CST Road, Kalina, Santacruz (E), Mumbai - 400 098

STATEMENT OF UNAUDITED STANDALONE FINANCIAL RESULTS FOR THE QUARTER AND NINE MONTHS ENDED DECEMBER 31, 2024

==> picture [591 x 392] intentionally omitted <==

----- Start of picture text -----

Rs in lakhs
Quarter ended Nine months ended Year ended
Particulars 31 Dec 2024 30 Sept 2024 31 Dec 2023 31 Dec 2024 31 Dec 2023 31 Mar 2024
(Unaudited) (Unaudited) (Unaudited) (Unaudited) (Unaudited) (Audited)
1 Income
(a) Income from operations 63,791 68,980 40,244 1,85,418 1,14,713 1,63,329
(b) Other income (Refer note 5) 1,223 1,308 761 2,776 22,117 22,353
Total income 65,014 70,288 41,005 1,88,194 1,36,830 1,85,682
2 Expenses
(a) Operating expenses 56,799 61,982 33,470 1,65,142 93,864 1,36,854
(b) Employee benefits expenses 2,658 2,736 3,304 7,920 9,819 12,147
(c) Finance costs 1,426 1,195 979 3,788 2,758 3,847
(d) Depreciation and amortisation expenses 355 393 486 1,097 1,409 1,915
(e) Other expenses 2,069 2,504 2,666 6,628 6,786 10,311
Total expenses 63,307 68,810 40,905 1,84,575 1,14,636 1,65,074
3 Profit before tax and exceptional items for the period / year (1 - 2) 1,707 1,478 100 3,619 22,194 20,608
4 Exceptional items (Refer note 3) 2,380 - - 2,380 2,535 2,535
5 Profit before tax (3+4) 4,087 1,478 100 5,999 24,729 23,143
6 Tax expense
(a) - Current tax 334 526 89 906 5,805 5,723
(b) - Deferred tax charge/(credit) 87 (111) (69) 28 (2,400) (2,640)
(c) - Tax adjustments for earlier years (net of deferred tax) (Refer Note 8(b)) 84 (2,636) (238) (2,552) (238) (238)
7 Profit after tax for the period / year (5-6) 3,582 3,699 318 7,617 21,562 20,298
8 Other comprehensive income / (expense)
(i) Items that will not be reclassified to profit or loss (net of tax) (19) (42) (38) (57) (114) 151
(ii) Items that will be reclassified to profit or loss (net of tax) (329) - (329) (329) (329) (329)
Other comprehensive income / (expense) for the period / year, net of tax (348) (42) (367) (386) (443) (178)
9 Total comprehensive income (7+8) 3,234 3,657 (49) 7,231 21,119 20,120
10 Paid-up equity share capital (Face value of Rs. 2 each) (Refer Note 7) 19,656 19,656 4,914 19,656 4,914 19,656
11 Other Equity 1,03,517
12 Earnings Per Share (Face value of Rs. 2 each) (not annualised for the
quarters) : (Refer note 7)
(a) Basic 0.36 0.38 0.03 0.78 2.19 2.07
(b) Diluted 0.36 0.38 0.03 0.78 2.19 2.07
----- End of picture text -----

ALLCARGO LOGISTICS LIMITED

Allcargo House, 6th Floor, CST Road, Kalina, Santacruz (E), Mumbai - 400 098. Maharashtra. India. T: +91 22 6679 8110 | www.allcargologistics.com | CIN: L63010MH2004PLC073508 | GSTN: 27AACCA2894D1ZS e-mail id: investor.relations@allcargologistics.com

Notes:

==> picture [81 x 39] intentionally omitted <==

• 1) The unaudited standalone financial results of Allcargo Logistics Limited ("the Company") for the quarter and nine months ended December 31, 2024 have been prepared in accordance with the Indian Accounting Standards (“Ind AS”) as prescribed under Section 133 of the Companies Act, 2013, as amended read with the Companies (Indian Accounting Standards) Rules, 2015, as amended.

• 2) The unaudited standalone financial results for the quarter and nine months ended December 31, 2024 have been reviewed by the Audit Committee and approved by the Board of Directors at their meetings held on February 13, 2025. The Statutory Auditors have conducted review of these results pursuant to the requirements of Regulation 33 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended. There are no qualifications in the report issued by the auditors.

==> picture [583 x 65] intentionally omitted <==

----- Start of picture text -----

3) Exceptional items include the following:- Rs in lakhs
Particulars Quarter ended Nine months ended Year ended
31 Dec 2024 30 Sept 2024 31 Dec 2023 31 Dec 2024 31 Dec 2023 31 Mar 2024
Gain on sale of stake in Joint Venture (Refer Note a below) - - - - 1,522 1,522
Reversal of provision (Refer note b below) - - - - 1,013 1,013
Gain on sale of stake in Associate (Refer note c below) 2,380 - - 2,380 - -
TOTAL 2,380 - - 2,380 2,535 2,535
----- End of picture text -----

• (a) On May 17, 2023, Share Purchase Agreement (“SPA”) was entered into between the Company, Avvashya CCI Logistics Private Limited (ACCI) and JKS Finance Limited and its affiliates (“JKS Group”) - shareholders of ACCI for the sale of 16,00,994 (Sixteen Lakhs Nine Hundred Ninety Four) Equity Shares i.e. 61.13% stake held by Company in ACCI to JKS Group for consideration of Rs 3,923 Lakhs. Pursuant to said SPA, the Company sold its stake to JKS Group in ACCI and ACCI ceased to be Joint-Venture of the Company. The profit on sale of investment of Rs 1,522 Lakhs has been treated as an exceptional item.

• Further on May 17, 2023 a Share Purchase Agreement (“SPA”) was executed between the Company, Allcargo Supply Chain Private Limited (“ASCPL”) and JKS Group - shareholders of ASCPL for the purpose of acquisition of 8,90,69,138 (Eight Crores Ninety Lakhs Sixty Nine Thousand One Hundred and Thirty Eight) Equity Shares i.e. 38.87% stake by the Company from JKS Group, for consideration of approx. Rs 16,305 Lakhs. Pursuant to said SPA, the Company acquired 38.87% stake in ASCPL from JKS Group and ASCPL has become a wholly owned subsidiary of the Company.

• (b) Reversal of provision for certain employee benefits is consequent to revision of the employee benefits plan.

• (c) On October 28, 2024, Share Purchase Agreement ("SPA") was entered into between Company and Allcargo Terminals Limited (ATL), affiliate of the Company, for the sale of 912,00,000 (Nine Hundred and Twelve Lakhs) Equity Shares i.e. 7.6% stake held by Company in Haryana Orbital Rail Corporation Limited (HORCL) for consideration of Rs. 11,500 Lakhs, including contingent consideration of Rs. 1,100 Lakhs subject to fulfilment of certain conditions. Based on the confirmation from HORCL management and management’s assessment, conditions related to contingent considerations are expected to be complied with and accordingly Rs 1,100 Lakhs has been recognised as sale consideration. Profit on sale of investment of Rs 2,380 Lakhs has been treated as an exceptional item.

• 4) The Board of Directors of the Company at its meeting held on December 21, 2023, approved the Composite Scheme of Arrangement between Allcargo Logistics Limited (“the Company”), Allcargo Supply Chain Private Limited, (“ASCPL”), Gati Express & Supply Chain Private Limited (“GESCPL”), Allcargo Gati Limited (“Gati”) and Allcargo ECU Limited, (“AEL”) , (all subsidiaries of the Company) and their respective shareholders (“the Scheme”).

• The Scheme includes:

• 1) Demerger of International Supply Chain business of the Company in AEL effective from appointed date of October 01, 2023.

• 2) Merger of ASCPL and GESCPL with GATI effective from appointed date of October 01, 2023

• 3) Merger of GATI with Company, post the merger of ASCPL and GESCPL into GATI on the date, the scheme becomes effective.

• The Scheme has been approved by BSE on October 09, 2024 and by NSE on October 10, 2024. The Scheme alongwith a petition to approve the same has been filed with the National Company Law Tribunal which has instructed the Company and Gati to hold Extraordinary General Meeting ("EGM") respectively to approve the Scheme. The EGM of the Company to approve the Scheme is scheduled on February 18, 2025. The Scheme and other details are available on the Company's website.

5)	Other income includes : Rs in lakhs Particulars Year ended 31 Dec 2024 30 Sept 2024 31 Dec 2023 31 Dec 2024 31 Dec 2023 31 Mar 2024 Dividend received from a wholly owned subsidiary 450 1,080 - 1,530 - 20,472 Quarter ended Nine months ended

• 6) The Company's Chief Operating Decision maker (CODm) reviews business and operations as a single segment i.e. International Supply Chain, accordingly financial results are reported as single reportable segment in accordance with Ind AS 108 - Operating Segments.

• 7) Pursuant to the approval of the shareholder vide postal ballot dated December 21, 2023, the Board of Directors of the Company, at its meeting held on January 04, 2024, approved the allotment of 73,70,86,572 Equity shares of ₹2/- each as fully paid up bonus equity shares in the ratio of 3 (three) fully paid Bonus Shares for every 1 (one) Equity Share (3:1) held by the Equity Shareholders of the Company as on January 02, 2024 i.e. Record Date. Consequently, the paid-up equity share capital of the Company has increased to ₹196,55,64,192/-. As per the provisions of Ind AS 33, Earning Per Share figures for quarter and nine months ended December 31, 2023 have been recomputed using the revised number of equity shares (98,27,82,096) as the denominator.

• 8a) The Board of Directors in their meeting held on May 25, 2024 had recommended a final dividend of Re./- 1 per share for the year ended March 31, 2024 aggregating to Rs. 9,828 lakhs which has been approved by the shareholders at the Annual General Meeting of the Company held on September 26, 2024. It has been paid on October 03, 2024.

• 8b) The Board of Directors in their meeting held on October 18, 2024 have declared an interim dividend of Rs./- 1.10 per equity share aggregating to Rs. 10,811 lakhs. The same has been paid on October 30, 2024. Based on expert advice, the Company had recognised tax benefit of Rs. 2,636 lakhs under Section 80M of the Income tax Act, 1961.

• 9) On January 09, 2025, Competition Commission of India (CCI) issued a Show Cause Notice (‘SCN’) to the Company demanding an explanation for not giving notice as required under the Competition Act, 2002 during the acquisition of 30% stake in Gati Express and Supply Chain Private Limited (GESCPL) in June 2023. Management believes that the Company already controlled GESCPL at the time of this acquisition as it already held 70% stake in GESCPL through a step-down subsidiary Allcargo Gati Limited (AGL) which has been challenged by CCI. CCI has given time until February 20, 2025 to furnish the response. Based on legal opinion, Management believes that the impact of this notice on the Company, if any, is not likely to be material.

• 10) On February 10, 2025, Income-Tax Authorities have initiated search on the Company's office. The Company is extending full cooperation to the Income-tax officials during the search and have been providing all the information sought by them. Management have made the necessary disclosures to the stock exchanges in this regard on February 12, 2025. As on the date of issuance of these financial results, the search is ongoing and the Company has not received any formal communication from the Income-Tax Authorities regarding the findings of their investigation. Pending any update on this matter, financial implications if any are presently not ascertainable and accordingly have not been recognised in the financial results.

FOR AND ON BEHALF OF THE BOARD OF DIRECTORS OF ALLCARGO LOGISTICS LIMITED

ADARSH Digitally signed by ADARSH HEGDE HEGDE Date: 2025.02.13 20:21:26 +05'30'

ADARSH HEGDE MANAGING DIRECTOR (DIN:00035040)

PLACE: MUMBAI DATE: February 13, 2025

12th Floor, The Ruby 29 Senapati Bapat Marg Dadar (West) Mumbai - 400 028, India Tel: +91 22 6819 8000

==> picture [208 x 14] intentionally omitted <==

Independent Auditor’s Review Report on the Quarterly and Year to Date Unaudited Consolidated Financial Results of the Company Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended

Review Report to The Board of Directors Allcargo Logistics Limited

1. We have reviewed the accompanying Statement of Unaudited Consolidated Financial Results of Allcargo Logistics Limited (the “Holding Company”) and its subsidiaries (the Holding Company and its subsidiaries together referred to as “the Group”), its associates and joint ventures for the quarter ended December 31, 2024 and year to date from April 01, 2024 to December 31, 2024 (the “Statement”) attached herewith, being submitted by the Holding Company pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (the “Listing Regulations”).

2. The Holding Company’s Management is responsible for the preparation of the Statement in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34, (Ind AS 34) “Interim Financial Reporting” prescribed under Section 133 of the Companies Act, 2013 as amended, read with relevant rules issued thereunder and other accounting principles generally accepted in India and in compliance with Regulation 33 of the Listing Regulations. The Statement has been approved by the Holding Company’s Board of Directors. Our responsibility is to express a conclusion on the Statement based on our review.

3. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410, “Review of Interim Financial Information Performed by the Independent Auditor of the Entity” issued by the Institute of Chartered Accountants of India. This standard requires that we plan and perform the review to obtain moderate assurance as to whether the Statement is free of material misstatement. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.

We also performed procedures in accordance with the Master Circular issued by the Securities and Exchange Board of India under Regulation 33(8) of the Listing Regulations, to the extent applicable.

1. The Statement includes the results of Holding Company, subsidiaries, associates and joint ventures listed in Annexure 1 to this report

2. Based on our review conducted and procedures performed as stated in paragraph 3 above and based on the consideration of the review reports of other auditors referred to in paragraph 7 below, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with recognition and measurement principles laid down in the aforesaid Indian Accounting Standards (‘Ind AS’) specified under Section 133 of the Companies Act, 2013, as amended, read with relevant rules issued thereunder and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of the Listing Regulations, including the manner in which it is to be disclosed, or that it contains any material misstatement.

==> picture [209 x 14] intentionally omitted <==

Allcargo Logistics Limited

Limited Review Report on Consolidated Financial Results- December 31, 2024 Page 2 of 6

1. We draw attention to Note 13 to the Statement, describing the Search operation by the Income tax Authorities at offices of Group Companies. Our conclusion is not modified in respect of this matter.

2. The accompanying Statement includes the unaudited interim financial results and other financial information, in respect of:

3. 126 subsidiaries, whose unaudited interim financial results include total revenues of Rs 3,22,158 lakhs and Rs 9,72,556 lakhs, total net (loss)/profit after tax of Rs. (803) lakhs and Rs.1,664 lakhs, total comprehensive (loss)/income of Rs. (6,235) lakhs and Rs. 1,693 lakhs, for the quarter ended December 31, 2024 and the period ended on that date respectively as considered in the Statement which have been reviewed by their respective independent auditors.

4. 8 associates and 8 joint ventures, whose unaudited interim financial results include Group’s share of net profit of Rs. 467 lakhs and Rs. 1,018 lakhs and Group’s share of total comprehensive income of Rs. 467 lakhs and Rs. 1,018 lakhs for the quarter ended December 31, 2024 and for the period from April 01, 2024 to December 31, 2024 respectively, as considered in the Statement whose interim financial results and other financial information have been reviewed by their respective independent auditors.

The independent auditor’s reports on interim financial results of these entities have been furnished to us by the Management and our conclusion on the Statement, in so far as it relates to the amounts and disclosures in respect of these subsidiaries, joint ventures and associates is based solely on the report of such auditors and procedures performed by us as stated in paragraph 3 above.

1. Certain of these subsidiaries, associates and joint ventures are located outside India whose financial results and other financial information have been prepared in accordance with accounting principles generally accepted in their respective countries and which have been audited by other auditors under generally accepted auditing standards applicable in their respective countries. The Holding Company’s Management has converted the financial results of such subsidiaries, associates and joint ventures located outside India from accounting principles generally accepted in their respective countries to accounting principles generally accepted in India. We have reviewed these conversion adjustments made by the Holding Company’s Management. Our conclusion in so far as it relates to the balances and affairs of such subsidiaries, associates and joint ventures located outside India is based on the report of other auditors and the conversion adjustments prepared by the Management of the Holding Company and reviewed by us.

2. The accompanying Statement includes unaudited interim financial results and other unaudited financial information in respect of:

3. 5 subsidiaries, whose interim financial results and other financial information reflect total revenues of Rs Nil and Rs Nil, total net (loss) after tax of Rs. (7.68) lakhs and Rs. (12.72) lakhs, total comprehensive (loss) of Rs. (7.68) lakhs and Rs. (12.72) lakhs, for the quarter ended December 31, 2024 and the period ended on that date respectively.

4. 2 associates, whose interim financial results includes the Group’s share of net profit of Rs. Nil and Rs Nil and Group’s share of total comprehensive income of Rs. Nil and Rs. Nil for the quarter ended December 31, 2024 and for the period ended on that date respectively.

==> picture [209 x 14] intentionally omitted <==

Allcargo Logistics Limited Limited Review Report on Consolidated Financial Results- December 31, 2024 Page 3 of 6

The unaudited interim financial results and other unaudited financial information of these subsidiaries, joint ventures and associates have not been reviewed by their auditors and have been approved and furnished to us by the Management and our conclusion on the Statement, in so far as it relates to the affairs of these subsidiaries, joint ventures and associates, is based solely on such unaudited interim financial results and other unaudited financial information. According to the information and explanations given to us by the Management, these interim financial results are not material to the Group.

Our conclusion on the Statement in respect of matters stated in para 7, 8 and 9 above is not modified with respect to our reliance on the work done and the reports of the other auditors and the financial results certified by the Management.

For S.R. Batliboi & Associates LLP Chartered Accountants ICAI Firm registration number: 101049W/E300004

Aniket Anil Sohani

Digitally signed by Aniket Anil Sohani DN: cn=Aniket Anil Sohani, c=IN, o=Personal, email=aniket.sohani@srb.in Date: 2025.02.13 20:41:35 +05'30'

per Aniket Sohani Partner Membership No.: 117142 UDIN: 25117142BMKVPJ5711 Mumbai February 13, 2025

==> picture [209 x 14] intentionally omitted <==

Allcargo Logistics Limited

Limited Review Report on Consolidated Financial Results- December 31, 2024 Page 4 of 6

Annexure 1 to Independent Auditor’s Review Report on the Quarterly Unaudited Consolidated Financial Results of the Company Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended

==> picture [444 x 518] intentionally omitted <==

----- Start of picture text -----

a. List of subsidiaries (direct and indirect) considered for consolidation:
SN Particulars SN Particulars
1 Allcargo Gati Limited (Formerly known as 2 Allcargo Corporate Services Private
‘Gati Limited’) Limited (Formerly Ecu International
(Asia) Pvt. Ltd.)Asia) Pvt. Ltd.)) Pvt. Ltd.) Pvt. Ltd.))
3 Gati Express & Supply Chain Private Limited 4 Zen Cargo Movers Private Limited
(Formerly known as ‘Gati-Kintetsu Express
Private Limited’))
5 Gati Logistics Parks Private Limited 6 Antwerp Freight Station NV (Formerly
known as Ecu Global Services N.V.))
7 Gati Import Export Trading Limited port Export Trading Limited ort Export Trading Limited port Trading Limited ort Trading Limited g Limited Limited 8 Ecu Worldwide (Cyprus) Ltd. (Cyprus) Ltd. Cyprus) Ltd. yprus) Ltd. rus) Ltd. ) Ltd. Ltd.
9 Gati Projects Private Limited jects Private Limited ects Private Limited 10 Ecu Worldwide (Ecuador) S.A. (Ecuador) S.A. Ecuador) S.A. ) S.A. S.A.
11 Contech Logistics Solutions Pvt. Ltd. gistics Solutions Pvt. Ltd. istics Solutions Pvt. Ltd. 12 Ecu World Wide Egypt Ltd gypt Ltd t Ltd
13 Comptech Solutions Pvt. Ltd. ptech Solutions Pvt. Ltd. tech Solutions Pvt. Ltd. 14 ECU WORLDWIDE (Germany) GmbH (Germany) GmbH Germany) GmbH y) GmbH GmbH
15 TransIndia Logistic Park Pvt Ltd. gistic Park Pvt Ltd. istic Park Pvt Ltd. 16 Ecu Worldwide (Guatemala) S.A. (Guatemala) S.A. Guatemala) S.A. ) S.A. S.A.
17 Ecu Worldwide (Argentina) SA (Argentina) SA Argentina) SA gentina) SA entina) SA ) SA SA 18 Ecu International Far East Ltd.
19 Integrity Enterprises Pty Ltd grity Enterprises Pty Ltd rity Enterprises Pty Ltd y Enterprises Pty Ltd Enterprises Pty Ltd prises Pty Ltd rises Pty Ltd y Ltd Ltd 20 PT Ecu Worldwide Indonesia
21 FMA-Line Holding N. V. g N. V. N. V. 22 Eurocentre Milan srl.
23 Ecu International N.V. 24 Ecu Worldwide (Japan) Ltd. (Japan) Ltd. Japan) Ltd. pan) Ltd. an) Ltd. ) Ltd. Ltd.
25 HCL Logistics N.V. gistics N.V. istics N.V. 26 Ecu Worldwide (Kenya) Ltd (Kenya) Ltd Kenya) Ltd ya) Ltd a) Ltd ) Ltd Ltd
27 AGL N.V. 28 Ecu Worldwide (Malaysia) SDN. BHD. (Malaysia) SDN. BHD. Malaysia) SDN. BHD. ysia) SDN. BHD. sia) SDN. BHD. ) SDN. BHD. SDN. BHD.
29 Ecu Worldwide Logistics do Brazil Ltda 30 CELM Logistics SA de CV (Liquidated
w.e.f. December 12, 2024), 2024) 2024))
31 Ecu Worldwide (Chile) S.A. (Chile) S.A. Chile) S.A. ) S.A. S.A. 32 Ecu Worldwide Morocco S.A
33 Ecu Worldwide (Guangzhou) Ltd. (Guangzhou) Ltd. Guangzhou) Ltd. gzhou) Ltd. zhou) Ltd. ) Ltd. Ltd. 34 Rotterdam Freight Station BV ght Station BV ht Station BV
35 Ecu Worldwide China Ltd (Formerly known 36 Ecu Worldwide New Zealand Ltd
as China Consolidation Services Shipping
Ltd))
37 Nordicon Terminals AB 38 Ecu-Line Paraguay SA guay SA uay SA y SA SA
39 ECU WORLDWIDE (CZ) s.r.o. 40 Ecu-Line Peru SA (Liquidated w.e.f. June
06, 2024), 2024) 2024))
41 Flamingo Line del Ecuador SA 42 Ecu Worldwide (Poland) Sp zoo
43 Ecu Worldwide (El Salvador) S.P. Z.o.o S.A. 44 Ecu-Line Saudi Arabia LLC
de CV
45 ELWA Ghana Ltd. 46 Ecu Worldwide (South Africa) Pty Ltd (South Africa) Pty Ltd South Africa) Pty Ltd ) Pty Ltd Pty Ltd y Ltd Ltd
47 Ecu Worldwide (Hong Kong) Ltd. (Hong Kong) Ltd. Hong Kong) Ltd. g Kong) Ltd. Kong) Ltd. g) Ltd. Ltd. 48 ECU Worldwide Lanka (Private) Ltd. (Private) Ltd. Private) Ltd. ) Ltd. Ltd.
49 CCS Shipping Ltd. pping Ltd. ing Ltd. g Ltd. Ltd. 50 Ecu Worldwide (Thailand) Co. Ltd. (Thailand) Co. Ltd. Thailand) Co. Ltd. ) Co. Ltd. Co. Ltd.
51 Ecu Worldwide Italy S.r.l. 52 Ecu Worldwide Turkey Taşımacılık
Limited Şirketi Şirketi irketi
----- End of picture text -----

==> picture [444 x 522] intentionally omitted <==

----- Start of picture text -----

SN Particulars SN Particulars
1 Allcargo Gati Limited (Formerly known as 2 Allcargo Corporate Services Private
‘Gati Limited’) Limited (Formerly Ecu International
(Asia) Pvt. Ltd.)Asia) Pvt. Ltd.)) Pvt. Ltd.) Pvt. Ltd.))
3 Gati Express & Supply Chain Private Limited 4 Zen Cargo Movers Private Limited
(Formerly known as ‘Gati-Kintetsu Express
Private Limited’))
5 Gati Logistics Parks Private Limited 6 Antwerp Freight Station NV (Formerly
known as Ecu Global Services N.V.))
7 Gati Import Export Trading Limited port Export Trading Limited ort Export Trading Limited port Trading Limited ort Trading Limited g Limited Limited 8 Ecu Worldwide (Cyprus) Ltd. (Cyprus) Ltd. Cyprus) Ltd. yprus) Ltd. rus) Ltd. ) Ltd. Ltd.
9 Gati Projects Private Limited jects Private Limited ects Private Limited 10 Ecu Worldwide (Ecuador) S.A. (Ecuador) S.A. Ecuador) S.A. ) S.A. S.A.
11 Contech Logistics Solutions Pvt. Ltd. gistics Solutions Pvt. Ltd. istics Solutions Pvt. Ltd. 12 Ecu World Wide Egypt Ltd gypt Ltd t Ltd
13 Comptech Solutions Pvt. Ltd. ptech Solutions Pvt. Ltd. tech Solutions Pvt. Ltd. 14 ECU WORLDWIDE (Germany) GmbH (Germany) GmbH Germany) GmbH y) GmbH GmbH
15 TransIndia Logistic Park Pvt Ltd. gistic Park Pvt Ltd. istic Park Pvt Ltd. 16 Ecu Worldwide (Guatemala) S.A. (Guatemala) S.A. Guatemala) S.A. ) S.A. S.A.
17 Ecu Worldwide (Argentina) SA (Argentina) SA Argentina) SA gentina) SA entina) SA ) SA SA 18 Ecu International Far East Ltd.
19 Integrity Enterprises Pty Ltd grity Enterprises Pty Ltd rity Enterprises Pty Ltd y Enterprises Pty Ltd Enterprises Pty Ltd prises Pty Ltd rises Pty Ltd y Ltd Ltd 20 PT Ecu Worldwide Indonesia
21 FMA-Line Holding N. V. g N. V. N. V. 22 Eurocentre Milan srl.
23 Ecu International N.V. 24 Ecu Worldwide (Japan) Ltd. (Japan) Ltd. Japan) Ltd. pan) Ltd. an) Ltd. ) Ltd. Ltd.
25 HCL Logistics N.V. gistics N.V. istics N.V. 26 Ecu Worldwide (Kenya) Ltd (Kenya) Ltd Kenya) Ltd ya) Ltd a) Ltd ) Ltd Ltd
27 AGL N.V. 28 Ecu Worldwide (Malaysia) SDN. BHD. (Malaysia) SDN. BHD. Malaysia) SDN. BHD. ysia) SDN. BHD. sia) SDN. BHD. ) SDN. BHD. SDN. BHD.
29 Ecu Worldwide Logistics do Brazil Ltda 30 CELM Logistics SA de CV (Liquidated
w.e.f. December 12, 2024), 2024) 2024))
31 Ecu Worldwide (Chile) S.A. (Chile) S.A. Chile) S.A. ) S.A. S.A. 32 Ecu Worldwide Morocco S.A
33 Ecu Worldwide (Guangzhou) Ltd. (Guangzhou) Ltd. Guangzhou) Ltd. gzhou) Ltd. zhou) Ltd. ) Ltd. Ltd. 34 Rotterdam Freight Station BV ght Station BV ht Station BV
35 Ecu Worldwide China Ltd (Formerly known 36 Ecu Worldwide New Zealand Ltd
as China Consolidation Services Shipping
Ltd))
37 Nordicon Terminals AB 38 Ecu-Line Paraguay SA guay SA uay SA y SA SA
39 ECU WORLDWIDE (CZ) s.r.o. 40 Ecu-Line Peru SA (Liquidated w.e.f. June
06, 2024), 2024) 2024))
41 Flamingo Line del Ecuador SA 42 Ecu Worldwide (Poland) Sp zoo
43 Ecu Worldwide (El Salvador) S.P. Z.o.o S.A. 44 Ecu-Line Saudi Arabia LLC
de CV
45 ELWA Ghana Ltd. 46 Ecu Worldwide (South Africa) Pty Ltd (South Africa) Pty Ltd South Africa) Pty Ltd ) Pty Ltd Pty Ltd y Ltd Ltd
47 Ecu Worldwide (Hong Kong) Ltd. (Hong Kong) Ltd. Hong Kong) Ltd. g Kong) Ltd. Kong) Ltd. g) Ltd. Ltd. 48 ECU Worldwide Lanka (Private) Ltd. (Private) Ltd. Private) Ltd. ) Ltd. Ltd.
49 CCS Shipping Ltd. pping Ltd. ing Ltd. g Ltd. Ltd. 50 Ecu Worldwide (Thailand) Co. Ltd. (Thailand) Co. Ltd. Thailand) Co. Ltd. ) Co. Ltd. Co. Ltd.
51 Ecu Worldwide Italy S.r.l. 52 Ecu Worldwide Turkey Taşımacılık
Limited Şirketi Şirketi irketi
53 Ecu Worldwide (Cote d'Ivoire) sarl 54 Ecu-Line Abu Dhabi LLC
----- End of picture text -----

==> picture [209 x 14] intentionally omitted <==

Allcargo Logistics Limited

Limited Review Report on Consolidated Financial Results- December 31, 2024 Page 5 of 6

==> picture [444 x 563] intentionally omitted <==

----- Start of picture text -----

SN Particulars SN Particulars
55 Jordan Gulf for Freight Services and 56 Star Express Company Ltd.
Agencies Co. LLC
57 Ecu Shipping Logistics (K) Ltd. 58 Ecu Worldwide (Uruguay) S.A.
59 Ecu Worldwide (Mauritius) Ltd. 60 Guldary S.A.
61 Ecu Worldwide Mexico SA de CV 62 Ecu Worldwide (USA) Inc. (Formerly
known as ‘Econocaribe Consolidators,
Inc’)
63 Ecu Worldwide (Netherlands) B.V. 64 ECI Customs Brokerage, Inc.
65 FCL Marine Agencies B.V. 66 Asia Line Ltd
67 Ecu Worldwide (Panama) S.A 68 Prism Global Ltd.
69 Flamingo Line del Peru SA 70 Nordicon AB
71 Ecu Worldwide (Philippines) Inc. 72 Ecu Worldwide (Uganda)
73 Ecu-Line Doha W.L.L. 74 FCL Marine Agencies Belgium bvba
75 Ecu - Worldwide (Singapore) Pte. Ltd 76 Allcargo Hongkong Limited
77 Ecu-Line Spain S.L. 78 Almacen y Maniobras LCL SA de CV
79 Ecu Worldwide (BD) Limited 80 ECU TRUCKING, INC.
81 Société Ecu-Line Tunisie Sarl 82 Allcargo Logistics Africa (PTY) LTD
83 Ecu-Line Middle East LLC 84 AGL Bangladesh Private Limited
85 Eurocentre FZCO 86 Ecu Worldwide (Bahrain) Co. W.L.L.
87 Ecu Worldwide (UK) Ltd 88 PAK DA (HK) LOGISTIC Ltd
89 PRISM GLOBAL, LLC 90 Allcargo Logistics FZE
91 Econoline Storage Corp. 92 Allcargo Logistics China Ltd.
93 OTI Cargo, Inc. 94 Allcargo Ecu Limited (incorporated on
August 20, 2023)
95 Administradora House Line C.A. 96 Gati Cargo Express (Shanghai) Co. Ltd.
97 Ecu Worldwide Vietnam Joint Stock 98 Nordicon Trucking AB (Formerly known
Company as ‘RailGate Nordic AB’)
99 Ecu-Line Zimbabwe (Pvt) Ltd. 100 Fair Trade Gmbh Schiffhart, handel und
Logistik
101 Eculine Worldwide Logistics Co. Ltd. 102 Asiapac Shipping Limited (Formerly
known as Asiapac Equity Investment
Limited)
103 FMA-LINE Nigeria Ltd. 104 Asiapac Logistics El Salvador
105 FMA Line Agencies Do Brasil Ltda 106 Allcargo Tanzania Limited
107 Oconca Container Line S.A. Ltd. 108 Ecu-Line Algerie sarl
109 ECU WORLDWIDE SERVICIOS SA DE 110 Ecu Worldwide Australia Pty Ltd
CV
111 ECU Worldwide CEE S.R.L 112 Ecu Worldwide (Belgium) N.V
113 Ecu Worldwide Baltics 114 Ecuhold N.V.
115 East Total Logistics B.V. 116 Ecu Worldwide N.V. (Formerly known as
‘Allcargo Belgium N.V.’)
117 ECU Worldwide Tianjin Ltd 118 Ecu Worldwide (Canada) Inc.
----- End of picture text -----

==> picture [209 x 14] intentionally omitted <==

Allcargo Logistics Limited

Limited Review Report on Consolidated Financial Results- December 31, 2024 Page 6 of 6

==> picture [444 x 183] intentionally omitted <==

----- Start of picture text -----

SN Particulars SN Particulars
119 SPECHEM SUPPLY CHAIN 120 U.K.Terminals Limited
MANAGEMENT (ASIA) PTE. LTD
121 Asiapac Logistics Mexico SA de CV 122 China Consolidation Services Ltd
123 Gati Hong Kong Limited 124 Ecu Worldwide (Colombia) S.A.S.
125 ALX Shipping Agencies India Private 126 Asia Pac Logistics DE Guatemala S.A.
Limited
127 ECUNORDICON AB 128 Asia Express Line GmbH
129 NORDICON A/S 130 ASIAPAC TURKEY TASIMACILIK
ANONIM SIRKETI
131 Ecu Worldwide India Pvt Ltd (Formerly 132 Allcargo Supply Chain Private Limited
known as ‘Panvel Industrial Parks Private (w.e.f June 01, 2023)
Limited’)
133 Ports International Inc 134 Allcargo Logistics LLC
----- End of picture text -----

• b. List of associates (direct and indirect) considered for consolidation:

==> picture [257 x 161] intentionally omitted <==

----- Start of picture text -----

SN Particulars
1 Allcargo Logistics Lanka (Private) Limited
2 FCL Marine Agencies Gmbh (Bermen)
3 RailGate Europe B.V
4 Trade Xcelerators LLC
5 Haryana Orbital Rail Corporation Limited (Ceased
to be associate w.e.f October 28, 2024)
6 All Safe Supply Chain Solutions Co. Limited
7 Shanghai Gatido Wisdom Logistics Co. Limited
(w.e.f. June, 2023)
8 Gati Ship Limited
9 Railgate Europe Spzoo (incorporated w.e.f
November 05, 2024)
----- End of picture text -----

• c. List of joint ventures (direct and indirect) considered for consolidation:

SN	Particulars
1	Ecu Worldwide Peru S.A.C.
2	Fasder S.A.
3	Ecu Worldwide Korea Co., Ltd.
4	Allcargo Logistics Korea Co., Ltd.
5	Aladin Group Holdings Limited
6	Aladin Express DMCC
7	ALXShippingAgencyLLC
8	Allcargo ULS Terminals Co. Ltd (Incorporated as on August 29, 2024)

==> picture [91 x 39] intentionally omitted <==

ALLCARGO LOGISTICS LIMITED

Regd Office: Allcargo House, 6th Floor, CST Road, Kalina, Santacruz (E), Mumbai - 400 098

STATEMENT OF UNAUDITED CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER AND NINE MONTHS ENDED DECEMBER 31, 2024

==> picture [493 x 417] intentionally omitted <==

----- Start of picture text -----

(Rs. In Lakhs)
Quarter ended Nine months ended Year ended
Sr. No. Particulars 31 Dec 2024 30 Sept 2024 31 Dec 2023 31 Dec 2024 31 Dec 2023 31 Mar 2024
(Unaudited) (Unaudited) (Unaudited) (Unaudited) (Unaudited) (Audited)
1 Income
(a) Income from operations 410,574 430,109 321,159 1,221,964 978,950 1,318,783
(b) Other income 873 1,699 1,244 3,848 6,172 7,846
Total income 411,447 431,808 322,403 1,225,812 985,122 1,326,629
2 Expenses
(a) Operating expenses 324,181 346,033 245,666 972,139 743,263 1,008,507
(b) Changes in inventories of stock in trade (39) 57 43 1 74 29
(c) Employee benefits expenses (Refer note 10) 51,795 53,268 47,731 155,029 146,525 194,486
(d) Finance costs 3,871 3,754 3,821 11,244 9,926 12,989
(e) Depreciation and amortisation expenses 10,733 10,675 10,425 31,810 29,408 40,014
(f) Other expenses 20,855 17,284 16,607 54,272 52,276 69,061
Total expenses 411,396 431,071 324,293 1,224,495 981,472 1,325,086
3 Profit before share of profit from associates and joint
51 737 (1,890) 1,317 3,650 1,543
ventures, exceptional item and tax (1 - 2)
4 Share of profit from associates and joint ventures 467 728 (1,084) 1,018 (939) (735)
5 Profit / (Loss) before tax and exceptional item (3 + 4) 518 1,465 (2,974) 2,335 2,711 808
6 Exceptional items (refer note 3) 278 - 3,352 277 15,536 15,633
7 Profit before tax (5 + 6) 796 1,465 378 2,612 18,247 16,441
8 Tax expense
(a) Current tax 2,682 3,327 2,302 8,361 13,177 15,577
(b) Deferred tax charge/(credit) (3,043) (2,996) (3,402) (8,420) (9,918) (12,835)
Tax adjustments for earlier years (net of deferred tax) 126 (2,640) (258) (2,563) (258) (301)
(c)
(Refer note 11(b))
9 Profit after tax (7 - 8) 1,031 3,774 1,736 5,234 15,246 14,000
10 Other Comprehensive Income/(Expense)
(a) Items that will not be reclassified to profit or loss (net of tax) (34) (39) (78) (107) (373) 20
(b) Items that will be reclassified to profit or loss (net of tax) (5,448) 6,603 6,892 10 5,952 2,336
Other Comprehensive Income/(Expense) (5,482) 6,564 6,814 (97) 5,579 2,356
Total comprehensive income (9 + 10) (4,451) 10,338 8,550 5,137 20,825 16,356
11 Profit attributable to
(a) Owners of the Company 969 3,311 1,095 4,818 15,534 14,970
(b) Non-controlling interest 62 463 641 416 (288) (970)
12 Other Comprehensive Income/(Expense)
(a) Owners of the Company (5,399) 6,461 6,963 (147) 5,616 2,351
(b) Non-controlling interest (83) 103 (149) 50 (37) 5
13 Total Comprehensive Income
(a) Owners of the Company (4,430) 9,772 8,058 4,671 21,150 17,321
(b) Non-controlling interest (21) 566 492 466 (325) (965)
14 Paid-up equity share capital (Face value of Rs. 2 each) (Refer 19,656 19,656 4,914 19,656 4,914 19,656
Note 4)
15 Other Equity 232,507
16 Earnings Per Share (Face value of Rs. 2 each)
(not annualised for the quarters): (Refer Note 4)
(a) Basic 0.10 0.34 0.11 0.49 1.58 1.52
(b) Diluted 0.10 0.34 0.11 0.49 1.58 1.52
----- End of picture text -----

ALLCARGO LOGISTICS LIMITED

Allcargo House, 6th Floor, CST Road, Kalina, Santacruz (E), Mumbai - 400 098. Maharashtra. India. T: +91 22 6679 8110 | www.allcargologistics.com | CIN: L63010MH2004PLC073508 | GSTN: 27AACCA2894D1ZS e-mail id: investor.relations@allcargologistics.com

==> picture [94 x 43] intentionally omitted <==

Unaudited Consolidated Segmentwise revenue and results for the quarter and nine months ended December 31, 2024 and segmentwise assets and liabilities as at December 31, 2024

==> picture [501 x 392] intentionally omitted <==

----- Start of picture text -----

(Rs. In Lakhs)
Quarter ended Nine months ended Year ended
Sr No Particulars 31 Dec 2024 30 Sept 2024 31 Dec 2023 31 Dec 2024 31 Dec 2023 31 Mar 2024
(Unaudited) (Unaudited) (Unaudited) (Unaudited) (Unaudited) (Audited)
1 Segment revenue
a. International Supply Chain (previously known as
Multimodal Transport Operations) 354,434 376,997 272,137 1,063,403 833,986 1,125,877
b. Express Distribution 44,054 42,635 42,449 127,513 129,219 169,800
c. Contract Logistics 12,671 11,057 7,825 32,817 17,831 25,840
d. Unallocable - - - - - -
Less: Inter segment revenue (585) (580) (1,252) (1,769) (2,086) (2,734)
Net income from operations 410,574 430,109 321,159 1,221,964 978,950 1,318,783
2 Segment results
a. International Supply Chain (previously known as
Multimodal Transport Operations) 2,597 2,909 2,300 8,846 9,923 9,254
b. Express Distribution (484) (657) (1,885) (1,845) (3,725) (4,613)
c. Contract Logistics 936 540 503 1,712 1,238 2,046
d. Unallocable - - - - - -
Less: Inter segment - - (231) - (32) (1)
Total 3,049 2,792 687 8,713 7,404 6,686
Less:
i. Finance costs (3,871) (3,754) (3,821) (11,244) (9,926) (12,989)
Add:
i. Other income 873 1,699 1,244 3,848 6,172 7,846
Profit / (loss) before tax, exceptional item,
minority interest and share of profits from 51 737 (1,890) 1,317 3,650 1,543
associates and joint ventures
Share of profit / (loss) from associates and joint
ventures 467 728 (1,084) 1,018 (939) (735)
Profit / (loss) before tax and exceptional item 518 1,465 (2,974) 2,335 2,711 808
Exceptional item (Refer Note 3) 278 - 3,352 277 15,536 15,633
Profits before tax 796 1,465 378 2,612 18,247 16,441
3 Segment assets
a. International Supply Chain (previously known as
Multimodal Transport Operations) 505,569 545,421 434,961 505,569 434,961 452,581
b. Express Distribution 121,192 127,716 146,557 121,192 146,557 150,121
c. Contract Logistics 88,797 85,069 58,954 88,797 58,954 57,580
d. Unallocable 37,785 46,799 70,485 37,785 70,485 50,144
Total segment assets 753,343 805,005 710,957 753,343 710,957 710,426
4 Segment liabilities
a. International Supply Chain (previously known as
Multimodal Transport Operations) 285,119 307,322 245,409 285,119 245,409 261,908
b. Express Distribution 48,240 49,625 49,772 48,240 49,772 47,900
c. Contract Logistics 41,235 37,768 43,042 41,235 43,042 42,587
d. Unallocable 6,613 5,830 6,435 6,613 6,435 5,249
Total segment liabilities 381,207 400,545 344,658 381,207 344,658 357,644
----- End of picture text -----

Segment revenue, results, assets and liabilities represent amounts identifiable to each of the operating segments. 'Unallocable expenditure' and 'Other income' includes expenditure / income in relation to common services such as corporate expenditure and interest / dividend which is not directly identifiable to individual operating segments. Unallocable assets and liabilities' include common assets/liabilities such as corporate assets/liabilities and income tax assets which is not directly identifiable to individual operating segments.

==> picture [72 x 34] intentionally omitted <==

ALLCARGO LOGISTICS LIMITED Regd Office: Allcargo House, 6th Floor, CST Road, Kalina, Santacruz (E), Mumbai - 400 098

STATEMENT OF UNAUDITED CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER AND NINE MONTHS ENDED DECEMBER 31, 2024

Notes:

• 1) The Unaudited Consolidated Financial Results of Allcargo Logistics Limited ("the Holding Company") and its subsidiaries (“the Group”), together with its associates and joint ventures for the quarter and nine months ended December 31, 2024 have been prepared in accordance with the Indian Accounting Standards (“Ind AS”) as prescribed under Section 133 of the Companies Act, 2013 read with the Companies (Indian Accounting Standards) Rules, 2015, as amended.

• 2) The statement of unaudited consolidated financial results for the quarter and nine months ended December 31, 2024 has been reviewed by the Audit Committee and approved by the Board of Directors at their meetings held on February 13, 2025. The Statutory Auditors have conducted review of these results pursuant to the requirements of Regulation 33 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended. There are no qualifications in the report issued by the auditors.

==> picture [463 x 89] intentionally omitted <==

----- Start of picture text -----

3) Exceptional Items includes the following:- (Rs. In Lakhs)
Particulars Quarter ended Nine months ended Year ended
31 Dec 2024 30 Sept 2024 31 Dec 2023 31 Dec 2024 31 Dec 2023 31 Mar 2024
Gain on sale of stake in Joint Venture (Refer Note 3 (a)) - - - - 1,522 1,522
Gain on Fair Valuation of previous held equity stake (Refer Note 3 (a)) - - - - 9,649 9,649
Gain / (loss) on realised & fair value of assets held for sale and loss on write - - 992 (1) 992 1,089
off property, plant and equipment in a subsidiary.
Reversal of provision (Refer Note 3 (b)) - - - - 1,013 1,013
Liability no longer required - written back (Refer Note 3(c)) - - 2,360 - 2,360 2,360
Gain on sale of stake in Associate (Refer note 3(d)) 2,362 - - 2,362 - -
Employee severance and other related cost (Refer note 3(e)) (2,084) - - (2,084) - -
Total 278 - 3,352 277 15,536 15,633
----- End of picture text -----

• (a) On May 17, 2023, a Share Purchase Agreement (“SPA”) was entered into between the Holding Company, Avvashya CCI Logistics Private Limited ("ACCI") ACCI and JKS Finance Limited and its affiliates (“JKS Group”) - shareholders of ACCI for the sale of 16,00,994 (Sixteen Lakhs Nine Hundred Ninety Four) Equity Shares i.e. 61.13% stake held by Company in ACCI to JKS Group for consideration of Rs 3,923 Lakhs. Pursuant to said SPA, the Company has sold its stake to JKS Group in ACCI and ACCI has ceased to be Joint-Venture of the Company. The profit on sale of investment of Rs 1,522 Lakhs has been treated as exceptional item.

Further on May 17, 2023 Share Purchase Agreement (“SPA”) has been executed between the Company, Allcargo Supply Chain Private Limited (“ASCPL”) and JKS Group - shareholders of ASCPL for the purpose of acquisition of 8,90,69,138 (Eight Crores Ninety Lakhs Sixty Nine Thousand One Hundred and Thirty Eight) Equity Shares i.e. 38.87% stake by the Company from JKS Group, for consideration of approx. Rs 16,305 Lakhs. Pursuant to said SPA, the Holding Company has acquired 38.87% stake in ASCPL from JKS Group and ASCPL has become wholly owned subsidiary of the Holding Company. On the date of acquisiton of additional stake, the Holding Company has remeasured its existing stake to the fair value and resulting gain of Rs.9,649 Lakhs has been recognised as exceptional item.

• (b) Reversal of provision for certain employee benefits in Holding Company, is consequent to revision of the employee benefits plan.

• (c) Allcargo Gati Limited, (GATI), one of the Subsidiary of the Holding Company had issued a Corporate Guarantee to lender on behalf of GI Hydro Private Limited (GIPL),its subsidiary. In FY 201718, GATI recorded a liability of Rs 2,360 lakhs due to the invocation of the Corporate Guarantee by lender. During the previous year GIPL has raised funds by issuing bonds and subsequent to the end of that quarter repaid its debts and thereby on January 12, 2024, lender has issued no-due certificate relinquishing the Corporate Guarantee issued by GATI. Accordingly, GATI has reassessed its exposure and reversed the liability of Rs 2,360 lakhs. This has been treated as exceptional item (gain). Further the legal matters associated with this guarantee were disposed off during the Previous year.

• (d) On October 28, 2024, Share Purchase Agreement ("SPA") was entered into between Holding Company and Allcargo Terminals Limited (ATL), affiliate of the Company, for the sale of 912,00,000 (Nine Hundred and Twelve Lakhs) Equity Shares i.e. 7.6% stake held by Holding Company in Haryana Orbital Rail Corporation Limited (HORCL) for consideration of Rs. 11,500 Lakhs, including contingent consideration of Rs. 1,100 Lakhs subject to fulfilment of certain conditions. Based on the confirmation from HORCL management and management’s assessment, conditions related to contingent considerations are expected to be complied with and accordingly Rs 1,100 Lakhs has been recognised as sale consideration. Profit on sale of investment of Rs 2,362 Lakhs has been treated as an exceptional item.

• (e) To enhance long-term business efficiency and optimize costs, Group implemented organizational changes. As part of these initiatives, Rs. 2,084 Lakhs was incurred during the quarter ended December 31, 2024, primarily for severance costs related to the optimisation of certain key management positions. This expense has been recognized as an exceptional item.

• 4) Pursuant to the approval of the shareholder vide postal ballot dated December 21, 2023, the Board of Directors of the Holding Company, at its meeting held on January 04, 2024, approved the allotment of 73,70,86,572 Equity shares of ₹2/- each as fully paid up bonus equity shares in the ratio of 3 (three) fully paid Bonus Shares for every 1 (one) Equity Share (3:1) held by the Equity Shareholders of the Company as on January 02, 2024 i.e. Record Date. Consequently, the paid-up equity share capital of the Holding Company has increased to ₹196,55,64,192/-. As per the provisions of Ind AS 33, Earning Per Share figures for quarter and nine months ended December 31, 2023 have been recomputed using the revised number of equity shares (98,27,82,096) as the denominator.

• 5) During the previous year, GATI has signed an out of court settlement with AIR India, pertaining to an ongoing legal matter before the Hon'ble Delhi High Court. As a result, the subsidiary has received a sum of Rs. 42 lakhs in June 30, 2023 towards the final settlement, which has been duly recognised as Other Income. Pursuant to the settlement, the Hon'ble Delhi High Court accepted the GATI's petition for withdrawal of the case and released the original bank guarantee, amounting to ₹2,200 lakhs, which was equivalent to the disputed arbitral award.The mentioned bank guarantee was released by the banking partner during previous year.

• 6) During the nine months ended December 31, 2024, the Holding Company’s wholly owned subsidiary Ecu Worldwide NV (formerly known as Allcargo Belgium NV) has acquired a 25% stake in Fair Trade GmbH for a consideration of EUR 2.9 million (~ Rs. 2,611 Lacs). Post this acquisition, Fair Trade GmbH has become a wholly owned subsidiary.

• 7) During the quarter ended September 30, 2024, Contech Logistics Solutions Private Limited (subsidiary of the Holding Company) has sold its investments in AGL Warehousing Private Limited worth Rs.1 lakh for a total consideration of Rs. 593 lakhs to Transindia Real Estate Limited. Accordingly gain amounting to Rs 592 lakhs is recognised in other income.

• 8) The Board of Directors of the Holding Company at its meeting held on December 21, 2023, approved the Composite Scheme of Arrangement between Allcargo Logistics Limited (“the Holding Company”), Allcargo Supply Chain Private Limited, (“ASCPL”), Gati Express & Supply Chain Private Limited (“GESCPL”), Allcargo Gati Limited (“Gati”) and Allcargo ECU Limited, (“AEL”) , (all subsidiaries of the Company) and their respective shareholders (“the Scheme”). The Scheme includes:

• 1) Demerger of International Supply Chain business of the Holding Company in AEL effective from appointed date of October 01, 2023.

• 2) Merger of ASCPL and GESCPL with GATI effective from appointed date of October 01, 2023

• 3) Merger of GATI with Holding Company, post the merger of ASCPL and GESCPL into GATI on the date, the scheme becomes effective.

• The Scheme has been approved by BSE on October 09, 2024 and by NSE on October 10, 2024. The Scheme alongwith a petition to approve the same has been filed with the National Company Law Tribunal which has instructed the Holding Company and Gati to hold Extraordinary General Meeting ("EGM") respectively to approve the Scheme. The EGM of the Holding Company to approve the Scheme is scheduled on February 18, 2025. The Scheme and other details are available on the Holding Company's website.

• 9) Allcargo Gati Limited, (GATI), one of the Subsidiary of the Holding Company, completed the process of Qualified Institution Placement during the quarter ended June 30, 2024. The placement document was filed on June 27, 2024 and after receipt of proceeds of ₹ 16,928 lakhs, 1,67,60,800 equity shares of GATI were allotted on June 28, 2024.

• 10) During the nine months ended December 31, 2023, one of the subsidiaries had recognised a Government grant of Rs. 3,282 Lakhs basis the Government approval. The grant has been credited to Employee Benefit Expenses as it is related to the employee cost incurred during Covid.

• 11) a) The Board of Directors in their meeting held on May 25, 2024 had recommended a final dividend of Re./- 1 per share for the year ended March 31, 2024 aggregating to Rs. 9,828 lakhs which has been approved by the shareholders at the Annual General Meeting of the Holding Company held on September 26, 2024. The same has been paid on October 03, 2024.

• b) The Board of Directors in their meeting held on October 18, 2024 have declared an interim dividend of Rs./- 1.10 per equity share aggregating to Rs. 10,811 lakhs. The same has been paid on October 30, 2024. Based on expert advice, the Holding Company has recognised tax benefit of Rs. 2,636 lakhs under Section 80M of the Income tax Act, 1961.

• 12) On January 09, 2025, Competition Commission of India (CCI) issued a Show Cause Notice (‘SCN’) to the Holding Company demanding an explanation for not giving notice as required under the Competition Act, 2002 during the acquisition of 30% stake in Gati Express and Supply Chain Private Limited (GESCPL) in June 2023. Management believes that the Holding Company already controlled GESCPL at the time of this acquisition as it already held 70% stake in GESCPL through a step-down subsidiary Allcargo Gati Limited (Gati) which has been challenged by CCI. CCI has given time until February 20, 2025 to furnish the response. Based on legal opinion, Management believes that the impact of this notice on the Holding Company, if any, is not likely to be material.

==> picture [67 x 37] intentionally omitted <==

ALLCARGO LOGISTICS LIMITED

Regd Office: Allcargo House, 6th Floor, CST Road, Kalina, Santacruz (E), Mumbai - 400 098 STATEMENT OF UNAUDITED CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER AND NINE MONTHS ENDED DECEMBER 31, 2024

• 13) On February 10, 2025, Income-Tax Authorities have initiated search on the office of the group companies. The Group is extending full cooperation to the Income-tax officials during the search and have been providing all the information sought by them. Management have made the necessary disclosures to the stock exchanges in this regard on February 12, 2025. As on the date of issuance of these financial results, the search is ongoing and the Group has not received any formal communication from the Income-Tax Authorities regarding the findings of their investigation. Pending any update on this matter, financial implications if any are presently not ascertainable and accordingly have not been recognised in the financial results.

• 14) During the period ended December 31, 2024, Ecuhold N.V. (subsidiary of the Holding Company), has acquired an additional stake in ECU Worldwide (Japan) Limited and ECU-Line Abu Dhabi LLC of 25% and 23.5% respectively bringing its total stake to 90% and 99% respectively. Consideration of Rs. 473 lakhs and Rs.12 lakhs has been paid to the non-controlling shreholders.

• 15) The standalone and consolidated financial results of the Holding Company are available on the Holding Company's website www.allcargologistics.com.

FOR AND ON BEHALF OF THE BOARD OF DIRECTORS

OF ALLCARGO LOGISTICS LIMITED

ADARSH Digitally signed by ADARSH HEGDE HEGDE Date: 2025.02.13 20:22:07 +05'30'

ADARSH HEGDE MANAGING DIRECTOR (DIN:00035040) PLACE: Mumbai DATE: February 13, 2025

==> picture [124 x 70] intentionally omitted <==

B. Statement on deviation or variation for proceeds of public issue, rights issue, preferential issue, qualified institutions placement, etc. - Not Applicable

C. Format for disclosing outstanding default on loans and debt securities – Not Applicable, As such no default

D. Format for disclosure of related party transactions (applicable only for half-yearly filings i.e., 2nd and 4th quarter) - Not Applicable.

E. Statement on impact of audit qualifications (for audit report with modified opinion) submitted along-with annual audited financial results (standalone and consolidated separately) (applicable only for annual filing i.e., 4th quarter) - Not Applicable.

ALLCARGO LOGISTICS LIMITED

Allcargo House, 6[th] Floor, CST Road, Kalina, Santacruz (E), Mumbai - 400 098. Maharashtra. India. T: +91 22 6679 8110 | www.allcargologis�cs.com | CIN: L63010MH2004PLC073508 | GSTN: 27AACCA2894D1ZS e-mail id: investor.rela�ons@allcargologis�cs.com