2.12. Provisons, Contingent liabilities & Contingent assets

a) Provision

A provision is recognized when the Company has a present obligation as a
result of past events, and it is probable that an outflow of resources embodying
economic benefit will be required to settle the obligation, in respect of which
a reliable estimate can be made. Provisions are not discounted to its present
value and are determined based on the best estimate required to settle the
obligation at the balance sheet date. These are reviewed at each balance
sheet date and adjusted to reflect the current best estimates.

b) Contingent Liabilities

A Contingent liability is disclosed, unless the possibility of an outflow of
resources embodying the economic benefits are remote.

c) Contingent Assets

Contingent asset is neither recognized nor disclosed in the financial
statements.

2.13. Earnings per share

Basic earnings per share is calculated by dividing the net profit or loss for the
period/ year attributable to equity shareholders by the weighted average number
of equity shares outstanding during the year.

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

2.14. Cash & Cash equivalence

Cash & cash equivalents in the cashflow statement comprises of cash at bank and
cash in hand, demand deposits with bank, short-term highly liquid investment with
original maturity of three months or less that are readily convertible into known
amount of cash & which are subject to insignificant risk of change in value.

2.15. Share issue expense

The Share issue expenses upon recognition shall be adjusted against the balance
in the security premium account as permitted under section 52 of Companies Act,
2013. The Company had issued Initial public Offer vide ISIN CODE: INE0IJY01014
of 9,44,000 shares on SME platform of National stock exchange of India. The IPO
offering has closed on 10.01.2022 and allotment has been made on 11.01.2022.
Payments made in respect of IPO have been recognized as deferred expenditure
in the financial statements, as per income tax Act 1961.

2.16. Cashflow

Cash flows are reported using the indirect method, whereby profit before tax
is adjusted for the effects of transactions of non-cash nature, any deferrals or
accruals of past or future operating cash receipts or payments and item of income
or expenses associated with investing or financing cash flows. Cash flows from
operating, investing and financing activities of the Company are segregated,
accordingly.

2.17. Segment Reporting

Based on the principles for determination of segments given in Accounting
Standard 17 “Segment Reporting” issued by accounting standard notified by
Companies (Accounting Standard) Rules, 2006. The Company has identified
its business segment as "Goods Transportation Services”. There are no other
primary reportable segments. The activities of the company are restricted to only
one geographical segment i.e. India, hence the secondary segment disclosures
are also not applicable.

28 Other Statutory Information

a) The Company do not have any Benami Property, where any proceedings has been initiated or
pending against the Company for holding any benami property.

b) The Company do not have any transaction with companies struck off under section 248 of
Companies Act 2013 or section 560 of Companies Act,1956.

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

d) The Company have not traded or invested in crypto currency or virtual assets during the financial
year.

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

f) The Company have not advanced or loaned or invested funds to any person(s) or entity(ies),
including foreign entities(intermediaries) with the understanding that the intermediary shall:

•Directly or indirectly lend or invest in other persons or entities identified in any manner
whatsoever by or on behalf of the company (Ultimate beneficiaries) or

•Provide any guarantee, security or the like to or on behalf of the ultimate beneficiaries.

g) The Company have not received funds from any person(s) or entity(ies), including foreign
entities(Funding Parties) with the understanding(whether recorded in writing or otherwise) that
the company shall:

•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

•Provide any guarantee, security or the like to or on behalf of the ultimate beneficiaries.

* It is the estimated amount of contracts remaining to be executed on capital contracts and provide
for (net of deposits and advance)

30 General Notes

i. Previous year's figures have been regrouped wherever necessary.

ii. Figures have been rounded off to the nearest rupees in Lakhs.

iii. Notes 1 to 30 and significant accounting policies annexed to this Balance Sheet and Statement
of Profit and Loss Account form part of the accounts and should be read in conjunction therewith.

The accompanying notes form an integral part of the financial statements
As per our report of even date attached

For Rajani & Co. For and on behalf of the Board of Directors of

Chartered Accountants Timescan Logistics (India) Limited

FRN No: 003433S

MaheshJain Moulana Taufeek Islam Sundarraj Arunkumar

Partner Managing Director Whole-time Director

M. No. 229881 DIN: 02125126 DIN: 07985890

Place: Chennai

Date: May 29,2024 Ramachandraiah Aakansha Kamley

UDIN: 24229881BKBIEJ6475 Chief Financial Officer Company Secretary

M.No. A69141