1. Basis of Preparation
These financial statements have been brpared in accordance with the generally accepted accounting principles in India under the historical cost convention on accrual basis. Pursuant to Section 133 of the Companies Act, 2013, read with rule 7 of the Companies (Accounts) Rules, 2014 till the Standards of accounting or any addendum thereto are brscribed by Central Government in consultation and recommendation of the National Financial Reporting Authority, the existing Accounting Standards notified under the Companies Act, 1956 shall continue to apply. Consequently the financial Statements have been brpared to comply in all material aspects with the Accounting Standards notified under Section 211 3(C) [Companies (Accounting Standards) Rules 2006 as amended] and other relevant provisions of Companies Act, 2013.

All assets and liabilities have been classified as current or non-current as per the Company's operating cycle and other criteria set out in the Schedule III (Division 1) to the Companies Act, 2013. Based on the nature of products and the time between the acquisition of assets for processing and their realisation in cash and cash equivalents, the Company has ascertained its operating cycle as 12 months for the purpose of current/ non current classification of assets and liabilities.

2. Tangible Assets
Tangible Assets are stated at cost, net of accumulated debrciation and accumulated impairment losses if any. Cost comprises of the purchase price including import duties and non-refundable taxes, and directly attributable expenses incurred to bring the asset to the location and condition necessary for it to be capable of being operated in the manner intended by management. Subsequent costs related to an item of tangible assets are recognised in the carrying amount of the item if the recognition criteria are met.

Items of tangible assets that have been retired from active use and are held for disposal are stated at the lower of their net carrying amount and net realisable value. These are shown separately in the financial statements under the head 'Other current assets'. Any write-down in this regard is recognised immediately in the Statement of Profit and Loss.

An item of tangible assets is derecognised on disposal or when no future economic benefits are expected from its use or disposal. The gain or loss arising on derecognition is recognised in the Statement of Profit and Loss.

3. Debrciation
Debrciation is provided on a pro-rata basis on the straight-line method over the estimated useful lives of the assets as brscribed under part C of the Schedule II of the Companies Act, 2013, except in case of mobile phone devices included under Office Equipements based on technical evaluation done by management's expert in order to reflect the actual usage of the assets. The debrciation charge for each period is recognised in the Statement of Profit and Loss, unless it is included in the carrying amount of any other asset. The useful life, residual value and the debrciation method are reviewed atleast at each financial year end. If the expectations differ from brvious estimates, the changes are accounted for prospectively as a change in accounting estimate.

The estimates of useful lives of tangible assets are as follows :

Asset	Useful Life
Computers	3 years
Furniture and Fixtures	10 years
Office Equipment
Mobile phones	2 years
Other than mobile phones	5 years

4. Impairment of Assets
Assessment is done at each balance sheet date as to whether there is any indication that an asset may be impaired. For the purpose of assessing impairment, the smallest identifiable group of assets that generate cash inflows from continuing use that are largely independent of the cash inflows from other assets or group of assets, is considered as a cash generating unit. If any such indication exists, an estimate of the recoverable amount of the asset/ cash generating unit is made. Assets whose carrying value exceeds their recoverable amount are written down to the recoverable amount. Recoverable amount is higher of an asset's or cash generating unit's net selling price and its value in use. Value in use is the brsent value of estimated future cash flows expected to arise from the continuing use of an asset and from its disposal at the end of its useful life. Assessment is also done at each balance sheet date as to whether there is any indication that an impairment loss recognised for an asset in prior accounting periods may no longer exist or may have decreased. An impairment loss is reversed to the extent that the asset's carrying amount does not exceed the carrying amount that would have been determined if no impairment loss had brviously been recognised.

5. Revenue Recognition

Revenue from Service: Revenue from transport services is recognised when the goods are delivered at customers location.

Interest Income: Interest income is recognised on a time proportion basis taking into account the amount outstanding and the rate applicable.

6. Freight Expenses
Freight expenses are recorded when hired vehicles deliver goods to the customers at delivery location.

7. Employee Benefits
a) Provident Fund: Contribution towards provident fund for employees is made to the regulatory authorities, where the Company has no further obligations. Such benefits are classified as Defined Contribution Schemes as the Company does not carry any further obligations, apart from the contributions made on a monthly basis. The Company's contribution towards Provident Fund is charged to the Statement of Profit and Loss.

b) Compensated Absences: Accumulated compensated absences, which are expected to be availed or enchased within 12 months from the end of the year are treated as short term employee benefits. The obligation towards the same is measured at the expected cost of accumulating compensated absences as the additional amount expected to be paid as a result of the unused entitlement as at the year end.

Accumulated compensated absences, which are expected to be availed or enchased beyond 12 months from the end of the year are treated as other long term employee benefits. The Company's liability is actuarially determined using the Projected Unit Credit method at the end of each year. Actuarial losses/ gains are recognised in the Statement of Profit and Loss in the year in which they arise.

c) Gratuity: The Company provides for gratuity, a defined benefit plan (the "Gratuity Plan") covering eligible employees in accordance with the Payment of Gratuity Act, 1972. The Gratuity Plan provides a lump sum payment to vested employees at retirement, death, incapacitation or termination of employment, of an amount based on the respective employee's salary and the tenure of employment. The Company's liability is actuarially determined using the Projected Unit Credit method at the end of each year. Actuarial losses/ gains are recognised in the Statement of Profit and Loss in the year in which they arise.

d) Employee Share based payments: The Company measures the compensation cost relating to employee stock options using the fair value method as brscribed by the Guidance Note on Employee Share-based Payments issued by the Institute of Chartered Accountants of India. The fair value of the option is recognised as Employee Share based expense in Statement of Profit and Loss on straight line basis over the vesting period of the options considering each tranche as a separate award with a credit to employee stock option outstanding account under reserves and surplus. Any adjustments to the cost on account of options being forfeited / lapsed is adjusted in the period during which such event occurs.

8. Current and Deferred Tax
Tax expense for the period, comprising current tax and deferred tax, are included in the determination of the net profit or loss for the period. Current tax is measured at the amount expected to be paid to the tax authorities in accordance with the applicable taxation laws in India.

Deferred tax is recognised for all the timing differences, subject to the consideration of prudence in respect of deferred tax assets. Deferred tax assets are recognised and carried forward only to the extent that there is a reasonable certainty that sufficient future taxable income will be available against which such deferred tax assets can be realised. When the Company has unabsorbed debrciation or carry forward of losses under tax laws, deferred tax asset is recognised if there is virtual certainty with convincing evidence that there will be sufficient future taxable income available to realise such deferred tax assets. Deferred tax assets and liabilities are measured using the tax rates and tax laws that have been enacted or substantively enacted by the Balance Sheet date. At each Balance Sheet date, the Company reassesses unrecognised deferred tax assets, if any.

Current tax assets and current tax liabilities are offset when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle the asset and the liability on a net basis. Deferred tax assets and deferred tax liabilities are offset when there is a legally enforceable right to set off assets against liabilities rebrsenting current tax and where the deferred tax assets and the deferred tax liabilities relate to taxes on income levied by the same governing taxation laws.

Minimum Alternate Tax credit (MAT) is recognised as an asset only when and to the extent there is convincing evidence that the company will pay normal income tax during the specified period. Such asset is reviewed at each Balance Sheet date and the carrying amount of the MAT credit asset is written down to the extent there is no longer a convincing evidence to the effect that the Company will pay normal income tax during the specified period.

9. Provisions and Contingent Liabilities

Provisions: Provisions are recognised when there is a brsent obligation as a result of a past event, it is probable that an outflow of resources embodying economic benefits will be required to settle the obligation and there is a reliable estimate of the amount of the obligation. Provisions are measured at the best estimate of the expenditure required to settle the brsent obligation at the Balance sheet date and are not discounted to its brsent value.

Contingent Liabilities: Contingent liabilities are disclosed when there is a possible obligation arising from past events, the existence of which will be confirmed only by the occurrence or non occurrence of one or more uncertain future events not wholly within the control of the Company or when a brsent obligation that arises from past events where it is either not probable that an outflow of resources will be required to settle or a reliable estimate of the amount cannot be made.

10. Operating Lease

As a lessee
Leases, where a significant portion of the risk and rewards of ownership are retained by the lessor, are classified as operating lease. In case of operating leases, lease rentals are accounted on a straight line method on an accrual basis over the lease term and charged to the Statement of Profit and Loss. A liability is created for the difference between the lease payments and the equalised lease expense recorded in the Statement of Profit and Loss.

11. Cash and Cash Equivalents
In the cash flow statement, cash and cash equivalents include cash in hand, demand deposits with banks, other short-term highly liquid investments with original maturities of three months or less.

12. Earnings Per Share
Basic earnings per share is calculated by dividing the net profit or loss for the year attributable to equity shareholders by the weighted average number of equity shares outstanding during the year. Earnings considered in ascertaining the Company's earnings per share is the net profit or loss for the year after deducting brference dividends and any attributable tax thereto for the year. The weighted average number of equity shares outstanding during the period and for all periods brsented is adjusted for events, such as bonus shares, other than the conversion of potential equity shares, that have changed the number of equity shares outstanding, without a corresponding change in resources. For the purpose of calculating diluted earnings per share, the net profit or loss for the period attributable to equity shareholders and the weighted average number of shares outstanding during the period is adjusted for the effects of all dilutive potential equity shares.

13. Use of Estimate
The brparation of financial statements in conformity with Generally Accepted Accounting Principles (GAAP) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of financial statements and the reported amounts of revenues and expenses during the period reported. Actual results could differ from those estimates. Any revision to accounting estimates is recognised prospectively in the current and future periods.

14. Borrowing costs
Borrowing costs include interest, other costs incurred in connection with borrowings. General and specific borrowing costs directly attributable to the acquisition, construction or production of qualifying assets, which are assets that necessarily take a substantial period of time to get ready for their intended use or sale, are added to the cost of those assets, until such time as the assets are substantially ready for their intended use or sale. All other borrowing costs are recognised in Statement of Profit and Loss in the period in which they are incurred.

Zinka Logistics Solutions Private Limited (hereafter referred as to as "ZLSPL" or as the "the Company") is incorporated on April 20, 2015. The Company is engaged in providing transport services to its customers through use of technology based execution system named "Blackbuck".

(a) Defined Contribution Plan
The Company has recognised Rs.6,937,533 (2016: 2,775,371) as expense under the defined contribution plan which is disclosed as Contribution to Provident and Other Funds under employee benefits expense (Refer Note 22).

(b) Defined Benefit Plan
The company provides for Gratuity, a Defined Benefit Plan (the Gratuity Plan), to its employees which is unfuned. The Gratuity plan provides a lump sum payment to vested employees at retirement or termination of employment, an amount equivalent to fifteen days salary last drawn for each completed year of service in line with the Payment of Gratuity Act 1972. The benefits vest after five years of continuous service.

The Company operates in one business segment of transport services and one geographical segment (i.e. in India), and hence disclosures as envisaged in Accounting Standard (AS) 17 on 'Segment Reporting' are not applicable.