Markets

Your directors are pleased to present their report on the business and operations of the Company and the statement of accounts for
the financial year ended on 31^st March 2026.

FINANCIAL RESULTS:

DIVIDEND:

As per the Office Memorandum (OM) dated 18.11.2024 in
respect of revised Guidelines on Capital Restructuring of Central
Public Sector Enterprises (CPSEs) issued by Department
of Investment and Public Asset Management (DIPAM), the
minimum dividend to be paid for the year should be at least
4% of net worth or 30% of profit after tax, whichever is higher.
Taking into consideration the above, Company’s dividend
distribution policy and other factors for the year 2025-26, the
Board recommended a final dividend of 20% (H1.00/- per equity
share of H5/- each) on the paid-up share capital of H380.81 crores
which is in addition to three (03) Interim Dividends totalling to
152% (H7.60/- per equity share of H5/- each) already paid during
the year. The total dividend (interim plus final) for the year
2025-26 will be H654.99 crores as compared to H700.69 crores

for the FY 2024-25. The dividend paid/proposed for the year
2025-26 works out to 5.08% of net worth as on 31.03.2026
and 53.61% of profit after tax of the Company for the year.

FINANCIAL HIGHLIGHTS:

The operating turnover of your Company registered an increase
of 2.21% during the year under review from H8,863.37 crores in
the previous year to H9,059.45 crores in the current year, which
is the highest ever turnover achieved in any financial year. Total
expenditure increased by 2.80% from H7,597.15 crores in 2024¬
25 to H7,809.88 crores in 2025-26. The profit before tax for
current year works out to H1,623.34 crores, which shows decline
of 4.40% over 2024-25. After making provisions for income
tax, tax adjustments, the profit after tax for the year stands at
H1,221.81 crores, which is 3.94% lower than last year.

Performance of FMLM Movement:

The movement of containers/ bulk under FMLM grew by 17%
by which CONCOR has transported 14.16 Million Tons of Cargo
under FMLM in FY2025-26 in comparison to 12.11 Million Tons
of cargo under FMLM in FY2024-25. Some of the initiatives
taken in this respect are :

• Movement under FMLM arrangement has started at the
majority of terminals in all the four Areas of CONCOR and
grew by 15% from 7,95,140 TEUs last year to 9,14,791
TEUs in the current year.

To provide greener road transport solutions, LNG Truck
movement started at CMLK, TKD, Barhi, Dadri, Kanpur,
Mihan, Vernama, Turbhe, Aurangabad, TNPM, Whitefield,
Irugur. Presently, 229 LNG Trucks are under operations.
FMLM movement through CONCOR owned LNG Trailer
was 52,354 TEUs.

LNG trucks have 30% less CO₂ emission vis-a-vis Diesel
trucks and saves approx. 0.926 kg (926 grams) CO₂
emission in one Kg of fuel utilization or 0.31kg (310
grams) per km. From LNG trucks usage CO₂ emission
saved was 1,852 MTs in FY 25-26 in comparison to 1,284
MTs in 2024-25.

CAPITAL STRUCTURE:

The authorised and paid-up share capital of the Company at
the end of the current year was H600.00 crore and H380.81
crore respectively. There was no change in the shareholding
of Government of India in the Company during the year 2025¬
26 and as on 31.03.2026 their shareholding was 54.80% and
balance 45.20% shares are held by FPIs, Institutions, Mutual
Funds, Banks, Body Corporates, Individuals, etc.

During the year, the Board of Directors of the Company in its
meeting held on 22.05.2025 has recommended issuance of
bonus shares in the ratio of 1:4 (one bonus share for every
four shares held) to the existing equity shares held by the
shareholders as on the Record Date i.e. 04.07.2025 in the
Company. The aforesaid issue of Bonus Shares was approved by
the shareholders through Postal Ballot. Pursuant to the requisite
approval of Government of India and the shareholders, after the
allotment of these bonus shares, the paid-up share capital of the
Company is now H380.81 crores.

Further, on the recommendation of Board of Directors, Members
of the Company in 37^th Annual General Meeting held on
25.09.2025 have approved to increase the Authorised share
capital of the Company to H600,00,00,000 (Rupees six hundred
crores) divided into 120,00,00,000 (One hundred twenty crores)
Equity Shares of H5 (Rupees five) each.

The Company has consistent track record of making profit and
dividend payment since its inception. Department of Investment
& Public Asset Management (DIPAM) had issued Guidelines on
Capital Restructuring and the Company is required to comply
with these DIPAM guidelines by way of corporate actions like
Dividend Payment, Bonus Issue, Share Spilt and Buyback of
Shares, depending upon meeting the eligibility criteria from time
to time. The Company has complied with DIPAM guidelines on
these matters.

LISTING AND DEMATERIALIZATION OF SHARES:

CONCOR has only one class of security i.e. equity shares listed
with the Stock Exchanges in India. CONCOR’s equity shares
are listed with the two exchanges i.e. BSE Limited (BSE) and
National Stock Exchange of India Limited (NSE). The listing
fees of both the stock exchanges have been paid. To facilitate
dematerialization of shares by its shareholders, CONCOR has
signed agreements with both the Depositories (NSDL & CDSL).
As per SEBI guidelines, CONCOR’s shares have been placed
under ‘Compulsory Demat Mode’. Out of 76,16,17,935 equity
shares of H5/- each listed on the Stock Exchanges 76,16,17,178
equity shares (99.9999% of the total equity shares) were in
demat mode as on 31.03.2026.

Dematerialization of Shares and Liquidity (as on 31 March 2026):

The market capitalization of the Company was H32,391.61
crores as on 31.03.2026 (as per closing price on last trading
day of the year at NSE) and the highest market capitalization
during the year was H49,660.54 crore as per highest price at
NSE on 05.06.2025.

TOTAL RETURN TO SHAREHOLDERS (TRS):

Market Capitalization of your company was H42,071.77 crores
at the end of previous year (31.03.2025) as per closing price
of H690.50 at BSE for 60,92,94,348 listed shares. It was
H32,399.23 crores at the end of year (31.03.2026) as per closing
price of H425.40 at BSE for 76,16,17,935 listed shares.

Also, your company has paid a total Dividend of H700.69 crores
to its shareholders during the year.

MOU PERFORMANCE:

The Memorandum of Undertaking (MoU) is signed every year
between your Company and its Administrative Ministry i.e.,
Ministry of Railways (MOR) to assess the performance of
Company based on the targets set therein.

Evaluation of MoU performance for FY 2024-25 was completed
by DPE and CONCOR was awarded ‘Very Good Rating’ with a
score of 89.81 marks.

The MoU for FY 2025-26 was signed between MOR, Government
of India and CONCOR in which targets to be achieved during
the year were fixed. The evaluation of MoU of your Company for
FY 2025-26 is under process. The performance of your company
on the MOU parameters for the year 2025-26 has been suitably
provided in the Annual Report at relevant places.

CAPITAL EXPENDITURE:

Capital Expenditure of H1,085.22 crores approx. was incurred
during the year mainly on development/ expansion of
terminals, acquisition of wagons, handling equipment and IT
Infrastructure, etc.

Further, a report has been submitted to DPE and Railway Board
in compliance of MOU for 2025-26 that it has no Surplus non¬
core assets (land & building).

TERMINAL NETWORK EXPANSION AND
STRATEGIC ALLIANCES:

The company has 68 terminals in total as on 31.03.2026, of
which 04 are pure EXIM terminals, 36 are combined Container
terminals, 24 are pure Domestic Terminals and 4 are strategic
Tie ups at various location.

While the existing Joint Ventures continued to perform to their
full potential contributing to the growth of the core business of
CONCOR, following new strategic alliances were also made
during the year:

•    CONCOR and Western Carrier (India) Limited entered
into a User Agreement on 03.05.2025 to form a Strategic
Alliance for exclusive access to Private Freight Terminal
(PFT) at Devaliya Gujarat for mutual business growth.

•    CONCOR was awarded the Tender for Container
Operations and Transportation of Domestic Containers
from/towards GCT at Rafaleshwar (GRGM) near Morbi,
after emerging as the Highest Bidder (H1) in the Tender
floated by G-RIDE Gati Shakti Cargo Terminal (Morbi)
Limited (GGCTL) in June 2025.

•    Inauguration of Sonik Integrated Logistics Hub on
14.10.2025 in association with CONCOR. Sonik Goods
Shed was handed over to CONCOR by Railways on
25.11.2025. This facility will cater to the burgeoning
logistics needs of the Kanpur and Lucknow region, for
the commodities like Fertilizers, Food Grains, Cement
and Tractors etc.

The OHE section between GCT MMLP ICD Varnama
(CGMV) and New Makarapura Station of WDFC
successfully commissioned on 22.03.2026.

•    ECRT (Exclusive Container Rail Terminal) operations have
been commenced by CONCOR at Reddipalem, Guntur
(Andhra Pradesh) in February 2026.

•    CONCOR established another e-CRT location at
Rachagunneri (RCG), in Andra Pradesh and dispatched first
Rake carrying 80 TEUs from Rachagunneri (RCG), Andhra
Pradesh to SCICL terminal at Uttarakhand on 10.06.2025.

•    CONCOR’s Gati Shakti Multi Modal Cargo Terminal (GCT)
served by Mandalgarh Station of Kota Division over West
Central Railway (WCR) has duly been approved by WCR
for the Commissioning with the allocation of Alpha Code
i.e. CCGM on 24.12.2025. Resultantly, first ISO container
Train of 90 TEUs successfully arrived and handled
at CONCOR’s GCT.

•    MoU with Shipping Corporation of India (SCI), V.O.
Chidambarnar Port Authority (VOCPA), Jawaharlal Nehru
Port Authority (JNPA), Chennai Port Authority (CPA),
and Sagarmala Finance Corporation Ltd. (SMFCL) for the
formation of a Joint Venture namely ‘Bharat Container
Shipping Line (BCSL)’ was signed on 03.02.2026. The
stakes of the Constituents are - CONCOR and SCI 30% each,
JNPA 10%, VOCPA and CPA 5% each and SMFCL 20%.

HIGH SPEED WAGONS, CONTAINERS AND
HANDLING EQUIPMENTS:

In order to strengthen the load ability and improve the service
level, CONCOR modified 250 Bogie Low Container (BLC) Rakes
into Bogie Low Container Modified (BLCM) Rakes by increasing
axle load capacity from 20.3T to 22T.

As on 31^st March 2026, CONCOR’s is having 250 BLCM Rakes,
17 nos. BLC Rakes, 11 nos. BFKHN Rakes, 35 nos. BLL Rakes,
61 nos. BLCS and 26 nos. BLSS Rakes with 25 Ton axle load
high speed wagons and 315 nos. BVZI (brake Van). Further, 10
nos. of BLCM Rakes have been taken on Lease for the period of
10 years since 2018-19 and since 2025-26 additional 14 BLSS
Rakes also taken on Lease for the period of 10 years. Therefore,
total holding was 424 rakes and 315 BVZI as on 31.03.2026.

As on 31.03.2026, CONCOR had placed the order for 23,346
nos. of different type of containers on Indigenous container
manufacturers under make in India policy i.e. “Atmanirbhar
Bharat”. This also includes order of 1,120 nos. of containers for
cement tank containers (i.e. 200 nos. of 32T capacity & 920 nos.
of 36T capacity), in which 460 containers have been delivered
upto 31.03.2026.

During the FY 2025-26, total 5,009 containers have been
delivered and the total inventory of containers as on 31.03.2026
was 57,746 containers.

CONCOR is having owned 104 Reach Stackers (RSTs),
including 5 Electric Reach Stackers and 5 RTG’s, 29 Nos. Fork
Lift. Apart from this, the Company also has 24 nos. shunting
Loco, 230 nos. LNG Trucks and trailers, 02 nos. Electric Trucks
and 45 nos. of different capacity of Reefer Power Packs (i.e.
22 Container Capacity-30 Nos., 24 Container Capacity-4 Nos.
and 44 Container Capacity-11 Nos.) to feed power supply to
refrigerated containers while transporting to ports.

INFORMATION TECHNOLOGY:

Your Company continued to make progress in the field of Information Technology. The VSAT based hybrid network has been upgraded
with MPLS cloud. The Terminal Management System for Domestic -DTMS, for EXIM -ETMS & CCLS, ERP for Oracle Financial,
integration of commercial system with oracle financial HRMS, Container Repair System, Operation system was implemented for the
expanded network of terminals and a Data Warehouse Module for commercial applications on centralized architecture is running
smoothly across field locations/Regional Offices and Corporate Office.

The web enabled Customer interface through a dedicated
Web Server is running successfully providing facilities to
the customers. The customer feedback facility system as
implemented on the website and on mobile app enables us
to constantly evaluate our performance and take corrective
action on customer complaints and feedback.

Public Grievance lodging and monitoring system has been
deployed on CONCOR’s website for Grievance Redressal
system. The objective of the system is to reduce time in
addressing Grievance, to increase transparency and round
the clock access for lodging and monitoring grievance.

The Electronic-filing/ e-Forwording Note facility of documents
on the Commercial System initially provided at ICD/
Tughlakabad has been extended to all EXIM terminals which

enables the customers to file their documents electronically
from their own offices and making on-line payment (NEFT/
RTGS) has been enabled. Mobile App for EXIM e-filing
(covering reports & queries) introduced for its stakeholders.

•    As part of business continuity plan, CONCOR has
established Disaster Recovery (DR) Site and standby
system at primary site for its commercial business
critical applications.

•    CONCOR has been certified ISO/IEC-27001:2022
certification from STQC IT Certification Services (Ministry of
Communication & Information Technology) for establishing
an Information Security Management System (ISMS).

•    As an extension of existing HRMS, employee portal has
been developed. This system facilitates employees to
access information regarding salary/ reimbursements,
leave balances, PF statement, view and submit their APAR
online, submission of Annual Property Return online,
Pension details etc. and employee has option of viewing
the information on screen and the printout of the same can
also be taken for the record. Employees can submit Annual
Property return, reimbursements, leaves.

•    CONCOR has implemented online Post Retirement Medical
Scheme (PRMS) portal and Mobile App to facilitate the
retired employees to submit medical claims.

•    The Employee feedback facility system implemented
on the Mobile App enables to constantly evaluate
performance and take corrective action on employee
complaints and feedback.

•    Shipping Platform has been revamped. All Activities of
Shipping are through this platform, including generating
B/L (Bill of Lading).

The Company has re-designed its website with current
technologies and look & feel.

CONCOR has introduced e-Samarth application for Online
Vigilance Clearances to handle bulk NOC request creation
& approval and workflow driven system has been evolved.
This has increased transparency and drastically reduced
the total time of according NOC for various purposes.

The Company has introduced AI/ML based Container
Terminal Management System (CTMS) at ICD/ Tughlakabad.
It is first of its kind of project which gives the visibility of 3-
dimension KYCL in the yard, in addition to other modules.

The Double Stack Loading Plan (DSLP) project uses
optimization and prescriptive analytics models to improve
double-stack train loading, leading to higher train utilization
and reduced rail haulage cost.

API Based Integration with Customs has been
made live at all ICDs/CFSs in close coordination with
Customs Authorities.

Disbursement of Shipping Line VDS payments have been
enabled through e-MB System.

Online Pre-Deposit Account (PDA) payment
system is established for customer/stakeholders’
respective PDA accounts.

The e-tender system with e-payment facility for sale
and EMD electronically, MSE exemptions has also been
introduced. CONCOR has implemented reverse auction,
e-tender cum forward auction.

CONCOR has launched its FMLM (First Mile Last Mile)
mobile app to EXIM customers to facilitate end to end
solutions. The customer can directly opt for this road
transportation services facility. E-Reverse Auction
platform (e-Logistics App) for transporter for FMLM rates
(local transportation rates). No need for long term contract/
helps obtaining competitive rates Notifications are sent to
the Customer/ Contractor about the status of the vehicle
and other related information through auto WhatsApp.

Under digital transformation initiatives and ease of doing
business, CONCOR introduced online registration of customer
& PDA. Further for hassle free process of bills, introduced
real time integration of GeM with CONCOR e-MB System.

Introduced Enterprise Dashboard for Rake Monitoring on
PAN India Basis for all its Rakes monitoring and optimum
utilization of rakes.

CONCOR is using e-Meeting App for conducting Paperless
Board & Committee Meetings for itself and its subsidiaries.

The circulars and guidelines of all departments are
available to employees on intranet with namecompendium.
concorindia.com.

CONCOR had implemented e-Office replacing the physical
files with electronic files as a step towards office automation
and paperless working. Aadhaar linked e-Signing facility
for digitally signing of e-Office files implemented.

Implementation of MAXIMO - Asset Management System.
This initiative marks a significant step towards enhancing
efficiency, transparency, and real-time analytics for
decision-making

•    CONCOR is using Online TDS Refund Portal for Customers,
another initiative towards customer centric approach. This
reflects CONCOR’s strong commitment towards customer
convenience and service excellence.

•    Auto Mail & auto SMS are sent with payment details to
respective vendor on registered mail and mobile number.

•    Implemented the Integration of commercial applications with
Oracle Financials ERP. Developed dashboard to monitor
performance and generate various reports of CONCOR.

•    Implemented e-contractor billing for online submission of
invoices by contractors through their digital signature only
processed till payment.

•    Facility of KYCL for online Track & Trace of container for its
customers through Mobile App, Chatbot etc.

• Introduced bill tracking system to its vendors
through website.

STANDARDISATION/ CERTIFICATIONS:

Fifty (50) CONCOR locations as on 31-03-2026 are Certified
for ISO 9001:2015 Quality Management System (QMS). Two
CONCOR Terminals (i.e. Dadri & Tughlakabad) are Certified for
ISO 14001:2015 Environmental Management System (EMS) and
ISO 45001:2018 Occupational Health & Safety Management
System. CONCOR has been certified ISO/IEC-27001:2022
certification from STQC IT Certification Services (Ministry of
Communication & Information Technology) for establishing an
Information Security Management System (ISMS).

It is an illustration of the commitment of your Company towards
Quality Management System. Quality Policy clearly provides for
ensuring complete customer convenience & satisfaction and
value for money through continual improvement of system and
processes. The Quality Policy has been prominently displayed
at all locations of CONCOR. Safety Slogans are displayed at
prominent locations at various terminals of CONCOR. ISO
Certification is available for most of the units of the Company.
Disaster Management System has been hosted on CONCOR
website. Further, in its endeavor to maintain high standards of
quality, your Company has been taking various steps, which
includes conducting periodical Management Review Meetings,
wherein various actions were taken with regard to Disaster
Management, Safety Norms and Quality Standards.

JOINT VENTURES/ SUBSIDIARIES:

Your Company continued to place emphasis on providing
total logistics and transport solutions to its customers by
exploring the possibilities of expanding the presence of the
Company in all segments of Logistics value chain in the EXIM
as well as Domestic segments. Strategic alliances firmed
up, both for optimal utilization of infrastructure as well as
expansion into other segments of the value chain for effectively
achieving the goals.

Your Company has formed various Subsidiaries/ Joint Ventures
Companies for different business areas such as Container
Freight Station (M/s Star Track Terminals Pvt. Ltd., M/s
Transworld Terminals Dadri Pvt. Ltd., M/s CMA-CGM Logistics
Park (Dadri) Pvt. Ltd. and M/s Allcargo Logistics Park Pvt. Ltd.),
Port Operations (M/s India Gateway Terminal Pvt. Ltd. and M/s
Gateway Terminals India Pvt. Ltd.), End to End Logistics (M/s TCI
CONCOR Multimodal Solutions Pvt. Ltd.), Multi Modal Logistics
Parks (MMLP) (M/s Punjab Logistics Infrastructure Ltd. and M/s
SIDCUL CONCOR Infra Company Ltd.) and Rail connectivity (M/s
Angul Sukinda Railway limited), ICD Operation at Nepal (M/s
Himalayan Terminals Pvt. Ltd) and M/s Container Gateway Ltd.

Brief particulars    about the subsidiaries    of    the

Company are as under:

SIDCUL CONCOR Infra Company Limited

SIDCUL CONCOR Infra Company Ltd. (SCICL), a Joint Venture
Company (JVC) with shareholding of 74% and 26% of Container
Corporation of India Limited (CONCOR) and State Infrastructure
& Industrial Development Corporation of Uttarakhand Ltd.
(SIIDCUL) respectively has developed a Multimodal Logistic
Park (MMLP) at Pantnagar located approx. 300 mts from
Rudrapur-Haldwani State Highway and approx. one km. from
the NH87. SCICL is doing operations in both the stream i.e.
EXIM and Domestic.

MMLP- Pantnagar is strategically located near national highway
No. 87. MMLP has wide hinterland covering industrial areas
like Pantnagar, Haldwani, Bazpur, Gadarpur, Kichha, Sitarganj,
Khatima, Lalkuwa, Bareilly etc. The MMLP provides Rail/Road
transportation, Handling and warehousing services to EXIM and
Domestic customers. MMLP is also providing facility of handling
conventional railway wagons like NMG, BCN, BOXN, etc.as it’s a
notified PFT. The facility provides Rail connectivity to/from three
gateway ports i.e. Mundra & Pipavav in Gujarat and JNPT in
Mumbai. And in domestic segment MMLP is providing services
on pan India basis in general and particularly to Mumbai/
Dronagiri/ Gandhidham in West, Hyderabad/Chennai and
Bangalore in south and Shalimar (Kolkata) in East. In addition
to the above MMLP is also providing “First Mile Last Mile” road
transportation services for its customers.

In addition to the transportation service, the MMLP is also
providing warehousing facility for domestic and EXIM customers
along with facility of Bonded & Transit warehousing. During
FY 2025-2026, SCICL handled 378 rakes. The total containers
handled at MMLP, Pantnagar for the said period were 26,163.
The company for the first time-initiated export in CONCOR

owned containers for Middle East Countries in FY 2025-26 in
which 86 TEUs export was carried out in from MMLP Pantnagar.
Total domestic loaded volumes handled by MMLP Pantnagar
(Inward Loaded and Outward Loaded) increased by 35.66% in
FY 2025-26 (6703 TEUs) as compared to last year FY 2024-25
(4941 TEUs) and total FMLM volume of the company increased
by 40.69% in FY 2025-26 (7607 TEUs) in comparison to last
FY 2024-25 (5407 TEUs). Total FMLM collection increased
by 83.49% in FY 2025-26 (H 2.06 crore) in comparison to last
FY 2024-25 (H 1.12 crore).

Punjab Logistics Infrastructure Limited

Punjab Logistics Infrastructure Limited (PLIL) is a Joint Venture
Company (JVC) of Container Corporation of India Limited
(CONCOR) and Punjab State Container and Warehousing
Corporation Limited (CONWARE), with equity participation
of 51% by CONCOR and 49% by CONWARE. PLIL has been
instrumental in strengthening the logistics infrastructure
in Punjab, facilitating trade and industry in the State and is
positioning it on the international trade map.

PLIL has developed a Multimodal Logistics Park (MMLP) in
Punjab, serving as a key logistics hub for industries, traders,
and exporters. The facility offers state-of-the-art warehousing,
container handling and multimodal transport solutions, ensuring
seamless trade operations within and outside India.

During the financial year 2025-26, PLIL achieved turnover of
H 60.95 crores as compared to H47.01 crores during the previous
financial year 2024-25, which shows an increase of 29.65% in
the revenue from operations. The total expenditure increased
by 20.29% from H42.48 crores to H51.10 crores during the
financial year 2025-26.

Profit before tax during in FY 2025-26 stood at H11.06 crores
as compared to H4.97 crore during the previous financial year
2024-25, which shows an improvement by 122.54%. The profit
after tax during FY 2025-26 stood at H8.18 crores as compared
to H3.65 crores during the previous FY 2024-25, which shows
an improvement by 124.11%.

In March 2026, PLIL has commenced EXIM (Export-Import)
export container movement from its Multimodal Logistics Park
(MMLP), Ahmedgarh to Chittagong, Bangladesh via Haldia
Port. PLIL is the first logistics infrastructure provider in Punjab
and the neighbouring region to introduce this direct export
service. This initiative provides seamless rail connectivity from
PLIL, Ahmedgarh to Haldia Port, followed by feeder vessel
connectivity from Haldia to Chittagong Port. This integrated
logistics solution is expected to:

-    Enhance direct export connectivity between Punjab
and Bangladesh.

-    Reduce transit time for time-sensitive export cargo.

-    Provide a cost-competitive logistics solution for exporters.

-    Strengthen PLIL’s position as a leading multimodal
logistics service provider in the region.

The above initiative is expected to contribute to PLIL’s income
through handling, transportation, and allied logistics services,
while further strengthening the Company’s commitment to
facilitating efficient international trade and expanding logistics
infrastructure in Punjab.

WHOLLY OWNED SUBSIDIARIES:

Fresh & Healthy Enterprises Ltd.

CONCOR had incorporated Fresh & Healthy Enterprises Ltd.
(FHEL) in the year 2006 as its wholly owned subsidiary to
create world class cold storage infrastructure in the country, to
provide complete cold chain logistics solutions to the various
stakeholders in this field.

Due to changed business dynamics with implementation of Goods
and Service Tax (GST), customized storage requirements, intense
competition with un-organized sector, it had been decided in the
year 2018 to re-engineer its facility at Rai, Sonepat (Haryana)
in two phases for development as an Agri-logistics Centre with
changed business model of leasing/renting out the warehousing
space for Cold Storage, Controlled Atmosphere (CA) storage and
Custom Bonded Warehousing (CBW) to interested parties.

Under Phase-I of re-engineering Plan, the existing CA
(Controlled Atmosphere) facility was modified with infusion
of H15.10 crores by CONCOR, to make it more versatile and
suitable for storage of variety of products apart from Apple.
Further, two new warehouses (30,160 sq. ft. each) were
constructed under Phase-II with investment by CONCOR of
H12.02 crores. FHEL has leased out these two warehouses on
mutually agreed terms for a period of 10 years.

The financial year 2025-26, has been mixed year for business
especially for Imports of fresh fruit cargo in Delhi-NCR area.
Despite all the hardships, the facility was running throughout
the year. FHEL achieved turnover of H8.57 crores in the financial
year 2025-26 in comparison to H9.24 crores during FY 2024¬
25. As on 31.03.2026, 43 Chambers (6- Custom Bonded, 21-
Chillers and 16- CA) were rented out for storage of Apple,
Dates, Almonds, Walnuts, Beer, Malta, etc.

During the year under review, total income of Company
decreased from H9.44 crores in FY 2024-25 to H8.75 crores
in FY 2025-26. This decrease is on account of decrease in CA
Chamber occupancy (532 CA Chamber months during the
period ended March, 2026 as against 604 during period ended
March, 2025). The operating profit of Company increased from
H4.10 crores in FY 2024-25 to H4.17 crores in FY 2025-26 due
to decline majorly in operating expenses as compared to decline
in operating income. FHEL’s net profit (after tax) increased from
H1.08 crores (FY 2024-25) to H1.12 crores (FY 2025-26).

CONCOR Air Ltd. (CAL)

A wholly owned subsidiary of CONCOR, incorporated on 24
July 2012 with an authorised share capital of H50 crore and
paid-up capital of H36.65 crore. The Company was established
to develop capabilities in the air cargo and logistics sector

and to complement CONCOR’s multimodal logistics offerings.
During its association with Mumbai International Airport
Limited (MIAL), CAL successfully operated air cargo terminal
facilities at Mumbai Airport and developed significant expertise
in cargo handling, warehousing, security compliance and air
cargo terminal operations. Following the conclusion of its
concession agreement and cessation of terminal operations in
March 2023, the Company undertook a strategic reassessment
of its business model and repositioned itself as an integrated air
freight logistics service provider.

Pursuant to a Working Agreement with CONCOR, CAL
commenced air freight operations by leveraging CONCOR’s
nationwide logistics infrastructure and network. During FY 2025¬
26, the Company operationalised air cargo services through
CONCOR terminals, particularly at ICD Dadri and ICD Ludhiana
and successfully handled export air cargo movements, marking
its return to active business operations. During the year, CAL
handled approximately 112 MT of cargo. The Company reported
a total income of H1.89 Crore, Profit after Tax (PAT) of H1.34
crore and continues to maintain a debt-free status and a strong
financial position. Going forward, the Company is focused on
expanding its presence in air freight forwarding, cargo handling,
warehousing and integrated logistics services. Leveraging

CONCOR’s extensive infrastructure and customer base, CAL
is exploring opportunities across key logistics and aviation
hubs, including Dadri, Ludhiana, Chennai, Bengaluru, Jewar
and Navi Mumbai.

The Board of CAL has approved a long-term growth roadmap
aimed at scaling air freight operations through CONCOR
terminals, expanding its customer base and strengthening
its position in the growing air cargo and multimodal logistics
sector. The growth projections are underpinned by increasing
demand for time-sensitive logistics, e-commerce fulfilment,
pharmaceutical cargo transportation and integrated supply
chain solutions. With its specialised domain expertise, lean
operating structure and strong support from CONCOR, CAL
is well positioned to create long-term value and strengthen
CONCOR’s presence in the air cargo and multimodal
logistics business.

CONSOLIDATED FINANCIAL STATEMENTS:

The Consolidated Financial Statements of the Company
prepared in accordance with the provisions of the Companies
Act, 2013 and the applicable Indian Accounting Standards (Ind
AS) forms part of the Annual Report of the Company.

CONCOR promotes a workplace culture founded on trust,
transparency, teamwork, and mutual respect. Employees
are encouraged to participate, share ideas, and contribute to
continuous improvement. This culture, supported by the active
involvement of senior leadership, has helped the Company
attract, develop, and retain talented professionals across
diverse functions.

New employees are inducted through a structured
onboarding process and assigned responsibilities based on
their qualifications, skills, and organizational requirements.
Continuous training and on-the-job learning help employees
strengthen their capabilities and adapt to changing business
needs. The Company also remains committed to providing a
safe, healthy, and hygienic workplace for all its employees.

Employee well-being continues to be a key priority. Along with
statutory benefits, CONCOR offers a flexible cafeteria-based
benefits programme that enables employees to choose benefits
best suited to their needs. The Company also provides residential
accommodation, telecommunication facilities, advances, and
other welfare measures. In addition, social security initiatives
such as compassionate appointments, voluntary benevolent
assistance for bereaved families, and post-retirement pension
and medical facilities complement statutory benefits, including
Provident Fund and Gratuity.

As part of its digital transformation journey, CONCOR continues
to strengthen its Digital HR ecosystem by leveraging technology
to make HR services more accessible, efficient, and transparent.
Employees can conveniently access a wide range of HR services
through the Human Resource Management System (HRMS) and
mobile applications, enhancing the overall employee experience.

Learning and development remain integral to the Company’s
people strategy. Through its dedicated training function,
CONCOR organizes in-house programmes, specialized training,
and on-the-job learning to build employee capabilities. Training
needs are identified through performance reviews, employee
feedback, and functional requirements, ensuring that learning
interventions are aligned with both individual development and
organizational priorities.

In support of national skill development initiatives, CONCOR
provided internship opportunities to 43 students from
various academic institutions, offering practical exposure in
Finance, Marketing, Commercial & operation & Technical for a
period of 8-12 weeks.

CONCOR’s employee-centric policies, focus on capability
building, and positive work environment continue to foster
high levels of employee engagement and commitment. This is
reflected in the Company’s low attrition rate is 3.5% during the
financial year.

In accordance with the Maternity Benefit Act, 1961, the
Company provides statutory maternity benefits, including
paid leave, medical benefits and related facilities for its female
employees and affirms complete compliance with the provisions
of the Maternity Benefit Act, 1961.

INDUSTRIAL RELATIONS:

CONCOR considers healthy and harmonious industrial relations
to be essential for sustained growth and efficient business
operations. The Company is committed to maintaining a
positive work environment based on mutual trust, respect, open
communication, and collaboration among all stakeholders.

During the financial year, CONCOR maintained a peaceful
industrial relations climate, with no loss of man-days due
to strikes, lockouts, or any other industrial unrest. Regular
interactions with employees and recognized unions, along
with an open and transparent communication process, helped
strengthen mutual trust and resolve issues in a timely manner.

The Company continues to encourage employee participation
through various forums for dialogue, suggestions and knowledge
sharing. These initiatives promote employee engagement,
support, continuous improvement and align individual efforts
with the Company’s objectives.

The Human Resource Department remains committed to
strengthening industrial relations and fostering a work culture
that supports employee well-being, organizational stability and
long-term business success.

RESERVATION POLICY:

CONCOR is a Central Government Public Sector Undertaking
(PSU). It follows all Government mandates in true spirit. The
representation of various categories against the total strength
of 1,238 (including deputationists) on 31.03.2026 is as under:

SUCCESSION PLANNING AND LEADERSHIP
DEVELOPMENT PLAN:

Succession Planning is an important component addressed
as part of strategic planning. It is critical to the success of
the organization and provides for a process that recognizes,
develops and retains top leadership talent. Management creates
a succession plan outlining the process for retaining, developing,
and appointing Senior Management talents for the organization.
In this regard, the policy for Succession Planning and Leadership
Development Plan framed by Company has been duly approved
by Board of Directors which complies with the Compliance
Parameter of MOU 2025-26.

PRIME MINISTER INTERNSHIP SCHEME (PMIS):

The Prime Minister Internship Scheme was announced in
the Budget 2024-25 with the aim of providing internship
opportunities to youth in to companies. Through this Scheme,
youth will gain exposure to real-life business environment,

across varied professions and it will help in creating employment
opportunities for them. Your Company is a partner in the Prime
Minister Internship Scheme (PMIS) of Government of India and
has engaged Interns under this scheme. The above complies
with the Compliance Parameter of MOU 2025-26.

STEPS AND INITIATIVES TAKEN FOR HEALTH &
SAFETY IMPROVEMENT OF HUMAN RESOURCES
IN CPSEs:

During the year 2025-26 your company has organised health
camps for medical screening of employees at work place
inter-alia on significant days such as World Hepatitis Day (28
July), World Stroke Day (29 October), World Diabetes Day (14
November), Universal Health Coverage Day (12 December),
World Cancer Day (4 February), World Tuberculosis Day (24
March), etc. The above complies with the Compliance Parameter
of MOU 2025-26.

SPECIAL ACHIEVEMENTS:

Amid intensifying geopolitical tensions, trade fragmentation and
financial vulnerabilities, India’s economy is projected to grow at 7.4%
in FY 26, with GVA expansion at 7.3%, reaffirming India’s status
as the fastest-growing major economy. While global uncertainties
remain elevated, domestic growth drivers are expected to continue
supporting economic activity. Against today’s global churn, India
remains committed to building resilience, innovating relentlessly,
and staying the course toward Viksit Bharat, rather than seeking
quick fixes to visible, short-term pressures.

The Government is consistently working to boost exports and
expand the country’s global footprint, combining traditional
strengths with emerging technology driven sectors. This effort
is reinforced by a dynamic policy framework, strong financial
incentives, a growing digital infrastructure, improved trade
facilitation, and a determined push to secure deeper market
access through next generation trade agreements.

CONCOR moves more than 95% of its Inland Container
Movement through Rail, making its operations sustainable and
cost-effective while supporting both trade and the environment.

The evolving business environment offers CONCOR immense
potential to identify new business opportunities and remain
the market leader with a majority market share in this field.
In FY 2025-26, CONCOR achieved its highest-ever handling
of more than 5.58 million TEUs. CONCOR is making intensive
efforts to increase the Rail Share in line with Indian Railways’s
vision of increasing the overall Rail Traffic to 3,000 MT by 2030

including 400 MT of Container Traffic. Some key highlights of the

business of the Company for the year under review are as below:

•    Exim Business witnessed a growth rate of 8.02% and
Domestic Business witnessed a growth of 14.59%
during the year.

•    During FY 2025-26, CONCOR invested about H1,085.22
Crores towards capital expenditure, mainly on the
acquisition of specialised heavy-duty containers, higher-
capacity container rakes, modern container-handling
equipment, development/expansion of container terminals,
IT infrastructure, etc.

•    In collaboration with the global shipping major, Hapag-
Lloyd AG, the inaugural movement of 90 TEUs (20-foot
containers) was transported by CONCOR from Tuticorin to
the Inland Container Depot (ICD) at Tondiarpet, Chennai,
establishing a rail-based evacuation link between V.O.
Chidambaranar Port and the Chennai Inland Logistics
Hub. By shifting more cargo to rail, the move also supports
decongestion of road networks and improves overall
supply chain efficiency.

•    CONCOR rolled out a series of trade-friendly measures
to support exporters and ease logistics challenges amid
the Middle East shipping disruptions in March 2026,
applicable across its national network of Inland Container
Depots (ICDs), as detailed below:

a)    For Export Cargo stuck at ICDs: Extra free storage
time and relief on wharfage, i.e., a Dies-Non period
of 30 (thirty) days in addition to the existing free
time for storage of factory-stuffed export containers,
and a Dies-Non period of 15 (fifteen) days on levy of
wharfage for export cargo arriving at CONCOR’s ICDs
and stored in its Customs-notified warehouse for the
purpose of export. The above-mentioned Dies-Non
period was applicable to containers/cargo arriving at
CONCOR ICDs between 01.03.2026 and 31.03.2026.

Discount on Plug-in charges: A 30% discount on
plug-in charges during the Dies-Non period for
reefer containers.

Slashing of ICD Tariffs for ‘Back to Town’ cargo: In
the case of ‘Back to Town’ movement of export
containers from an ICD within 30 days, no Terminals
Service Charges (TSC), Additional Charges (ETC), or
Terminal Infrastructure Charges (TIC) will be levied.

Further, in the case of ‘Back to Town’ movement
of export cargo from an ICD within 15 days, no
wharfage will be levied.

b)    Support for Containers returned from Ports to ICDs:
For containers sent to ports but returned to ICDs due
to disruptions, no additional charges, TIC or EIC will
be applicable if returned (with seal intact) by March
31, 2026, along with a 5% discount on rail freight to
the port for such returned containers.

c) Additional Assistance: As part of its broader support,
CONCOR may provide Domestic Containers for
storage at reasonable rates, subject to availability.

The above measures are expected to provide timely relief
to exporters facing uncertainty due to ongoing disruptions
in key Middle East trade corridors.

•    MMLP Barhi (PCRG) flagged off its first Export Train of
Loaded Containers from MMLP Barhi to Kandla Port on
19.02.2026 in association with M/s Aaryam Cargoways
Pvt. Ltd. This movement is the commencement of Kandla
Port service in addition to the existing MDCC/PPSP/JNPT
Port service from MMLP/Barhi.

•    Commenced the Export of ‘Copper Concentrate’ to
China from its Multi-Modal Logistics Park (MMLP) at
Naya Raipur on 11.11.2025. The first Rake comprising
of 90 TEUs was successfully loaded and dispatched to
Visakhapatnam Port (VZP).

•    Flagged off the inaugural Export Shipment of ‘Organic
Manure' in a CONCOR-owned Container from its
Multimodal Logistics Park (MMLP) at Kadakola,
Mysuru routed through ICD TNPM enroute to the
Maldives on 03.11.2025.

•    First full Rake of 90 TEUs of M/s Mahindra & Mahindra-
Tractors (the Export Special) was dispatched on 22.11.2025
from Multi Modal Logistics Park at Mihan to JNPT Port for
further onward journey to Colombo, Sri Lanka.

•    Under the initiative to provide total logistics solution right
from picking the cargo from factory, JCB Machines stuffed
in 4¹40’ containers despatched from MMLP Dadri to
Mundra in Double Stack Train in September 2025.

•    Flagged off the first Export container Train of COSCO
Shipping line from ICD/MMLP Barhi to Pipavav Port
on 14.08.2025. This effort has marked the initiation of
Rapeseed Meal Export from MMLP Barhi.

•    GCT Dahej, a strategic tie up with Gujarat Industrial
Development Corporation (GIDC) marked a significant
operational milestone by successfully handling its first
export container on 17.07.2025.

•    Flagged-off the first full Rake Dedicated Container Train of
Shipping Line Gold Star Line (Gold Star Line & Millennium
Cargo Movers) from ICD MMLP Kathuwas to Pipavav Port,
Gujarat on 27.06.2025.

•    Moved its first EXIM Rake on 26.05.2025 between
Chanderia (HZL) to Mundra Port in DPE mode with the
support of Western Railway.

•    ICD Kota dispatched 86 Loaded Containers from Kota
Terminal to PPSP on 08.05.2025 of Gold Star Line in the
presence of their Representatives, Freight Forwarders of
Millennium Cargo and CONCOR officials.

First-ever movement of 40-foot ‘CONCOR-owned
Domestic Containers’ from ICD Tondiarpet (TNPM),
Chennai, to Tughlakabad, Delhi, was handled in March
2026. Deploying 40-foot domestic containers on the
Chennai-Delhi corridor creates greater volumetric
efficiency and lower cost per tonne-km, and aligns with
the container dimensions that domestic manufacturers
increasingly need as they scale up supply chains integrating
both domestic distribution and international export.

•    ICD, Moradabad successfully flagged off its first-ever
“Sugar Express” Train on 25.03.2026. The inaugural Rake
comprises 80 x 20-foot Domestic containers loaded with
Sugar, moved from Moradabad to Shalimar (Kolkata). The
operation has been executed in collaboration with M/s Avadh
Sugar and Energy Ltd. (Birla Sugar), Triveni Engineering and
Industries Ltd., and M/s Prakash Bhalotia and Brothers. The
Sugar Express Train represents a significant innovation in
the movement of Agricultural Bulk commodities by Rail.

•    Introduced Specialized Tank Containers for loading Bulk
Cement in Loose form for the first time on 30.06.2025 and
Real-time operations were commenced from MMHM (My
Home Cement Siding), Mellacheruvu in Andhra Pradesh to
CONCOR ICD at Bengaluru.

Introduced the movement of customer owned specialized
Tank Containers for loading of Bulk Liquid. First lot of Tank
Containers carrying industrial Chemicals moved from
Mundra Port to Dadri and Khatuwas in July 2025.

For the first time, CONCOR’s Hyderabad Cluster
successfully moved 90 CONCOR-owned tank containers
from Nagulapalli (CMCN) to M/s My Home Industries
Private Limited Siding (MMHM), Mellacheruvu Station, for
onward load movement to DRTA during January 2026.

Launched Door-to-Door Logistics service for Basmati
Rice, connecting CONCOR’s Terminal at Phillaur (Punjab)
with Chennai, Hyderabad, Kolkata and Bengaluru
on 31.12.2025.

Successfully moved its first Rake carrying Cement in
Specialised Tank Containers from M/s M.P. Birla Group’s
Mukutban Plant (RCCPL Private Limited) to CONCOR
Terminal, Turbhe (Mumbai) in October 2025.

During the month of July’ 25, CONCOR’s terminal, Barhi in
coordination with Railways, dispatched first NMG Rake of
Maruti Suzuki from their new Kharkhoda plant at Sonepat
to their Nidvanda plant near Bengaluru.

•    ICD, Dhandari Kalan, Ludhiana (DDL) has started
to provide CONCOR’s Domestic Containers for LCL
consolidation from Ludhiana to Dronagiri, which is the
major consolidation Hub for LCL Cargo in June 2025.

•    Handled full Rake movement of Domestic (Load) of 90
TEUs, containing Imported Crimson Lentils by Rail from
MMLP Vizag (CCJS) to Tuglakabad (TICD) in July 2025.

•    Partnered with Maruti Suzuki India and handled the First
Auto Rake on 20.04.2025 at Barhi terminal, Sonepat. The
first Auto rake has been received from their MSIL Bechraji
Plant, Gujarat and there onward via Barhi terminal the cars
moves directly to their new plant at Kharkhoda.

•    Irugur Terminal handled 16 Auto Rakes (NMG & BCACBM)
in April 25. The movement was done from GCT Multi
Modal CG Terminal, Gujarat (MSIB) of Maruti Suzuki India
Pvt. Ltd. (MSIL) to IGCS and FN (Farrukh Nagar), Haryana.

•    In partnership with Caravan Multimodal Movers, rolled out
its first Cabotage rail service connecting MMLP Mundra
CFS (APSA) to MMLP Dadri (ICDD) on 20.07.2025.

•    Hyderabad Cluster, handled first ever Cabotage movement
of 6²40ft Shipping Line Container executed from CCJS-
CSTN Stream in December 2025.

•    CONCOR Area Office-IV moved first time, 40’ Cabotage
Container (M/s Maersk Line) from CTKR to GFPA with
Gunny Bales in March 2026.

•    Launched a new business vertical, ‘Shipping and New
Initiatives’, with a primary focus on establishing overseas
shipping services. As part of this initiative, CONCOR
successfully moved its first own 20-foot container from
ICD Khodiyar, Ahmedabad to Sharjah via Mundra Port in
July 2025, carrying AMUL Ghee. This export movement
was executed under CONCOR’s in-house shipping
initiative, providing end-to-end supply chain solutions in
line with the Atmanirbhar Bharat Mission.

•    As CONCOR ventured into the movement of export cargo
in its own containers to overseas locations, marking a
strategic expansion of its service portfolio, it successfully
moved 516 containers from various ICDs to Middle
East countries during FY 2025-26, with 229 containers
returning to India in loaded condition.

CMD, CONCOR, launched the first-ever in-house Bill of
Lading (BL) on 09.12.2025.

Shipped 2x20 ft CONCOR-owned Ice Battery containers
to Singapore, carrying cargo of M/s Sun Pharmaceuticals
under CONCOR’s own Bill of Lading, marking its movement
to a South-East Asian port.

The first overseas shipment of LCL cargo in CONCOR’s
20 ft container successfully moved from ICD/DDL to
Jebel Ali via Mundra Port. This milestone shipment will
facilitate future LCL consolidation volumes and strengthen
CONCOR’s end-to-end logistics solutions for global trade.

CONCOR Air Ltd. (A Subsidiary of CONCOR) commenced
Air Cargo connectivity from CONCOR, ICD-Dhandarikalan,
Ludhiana to IGI Airport, New Delhi and Amritsar Airport.
First shipment under CONCOR Air Ltd, destined to UAE
is moved to Guru Ram Dass Jee International Airport,
Amritsar Airport in September 2025.

The first Air Cargo consignment was successfully
cleared and dispatched from CONCOR’s CFS, MMLP
Dadri to Ethiopia via IGI Airport carrying Perishable
Cargo in CONCOR owned Reefer Ice Battery CBT in
September 2025.

Launched the Rake Monitoring Portal in June 2025. With
the help of this portal, real-time geospatial monitoring
of all-India rakes is possible, providing live rake visibility,
smarter forecasting, improved planning and analytics, and
proactive maintenance.

Launched the advanced version of the ‘CONCOR MAXIMO

-    Asset Management System’, reinforcing its push toward
digital transformation and operational excellence.

Launched the ‘Online TDS Refund Portal’ on 09.04.2026,
marking a significant step towards enhancing customer
convenience through digital innovation.

AI-Based Container Terminal Management System (CTMS)

-    CONCOR has implemented an Artificial Intelligence (AI)-
based Container Terminal Management System (CTMS),
beginning with ICD Tughlakabad.

Know Your Container Location (KYCL) - Digital "Track &
Trace" platform enabling customers to monitor container
movement in real time.

•    E-Booking and E-Forwarding Systems - Online booking
facility for EXIM and domestic cargo and E-forwarding
note system integrated with customs processes.

•    Geospatial Rake Management System - GPS-enabled
monitoring of container trains and rakes.

•    AI-Driven Customer Relationship Management (CRM)
- Development of AI-enabled CRM solutions for
Customer engagement, Business intelligence, Demand
forecasting etc.

•    Procurement and deployment of advanced cargo handling
equipment such as rail mounted gantry (RMG) cranes,
reach stackers, forklifts, rubber tyred gantry (RTG) cranes,
trailers, and mechanized handling systems for faster
turnaround and seamless cargo movement.

•    Implementation of digital and IT enabled systems
including AI-ML based Automation, enterprise resource
planning (ERP), e-payment facilities, RFID-based gate
automation, GPS-enabled container tracking, electronic
data interchange (EDI), online booking systems, customer
portals, and real-time cargo visibility solutions.

•    Adoption of paperless documentation and digitized workflow
systems to improve transparency, reduce processing time,
and facilitate ease of doing business for customers.

•    Introduction of integrated logistics solutions including
first-mile and last-mile connectivity supported by Digital
platform and Mobile Application, door-to-door services,
bonded warehousing, reefer services, coastal shipping
integration, and multimodal transportation solutions
tailored to customer requirements.

•    Development of dedicated facilities for handling specialized
cargo such as automobiles, fertilizers, food grains, cement,
industrial goods, reefer cargo, and hazardous cargo in
compliance with safety and operational standards.

•    Strengthening customer service mechanisms through
centralized customer support, dedicated key account
management, regular stakeholder interactions, customized
logistics solutions, and grievance redressal systems.

•    Energy-efficient and sustainable infrastructure initiatives
including installation of solar power systems, led lighting,
rainwater harvesting, electrification of terminals, and
adoption of green logistics practices.

•    Continuous focus on operational efficiency through
optimization of train operations, reduction in transit time,
improved rake utilization, enhanced asset productivity, and
increased frequency of rail services for reliable and cost-
effective logistics solutions. ³

•    CONCOR was empaneled as an Aggregator under the
Joint Parcel Product - Rail Cargo Service (JPP-RCS) Policy
and authorized to book Parcel Vans (VPUs) on designated
Railway routes. CONCOR booked 04 VPUs from Bhiwandi
Road, Mumbai (BIRD) to Sankrail Goods Terminal Yard,
Kolkata (SGYT) in Aug 2025.

•    In association with Indian Railways, Parcel Services were
inaugurated on 14.10.2025 using Railways’ Parcel Van
(Mumbai to Kolkata). This is an integrated Rail Parcel
Model offering first- and last-mile delivery through
CONCOR’s certified Business Associates. The facility
connects Bhiwandi Station (Mumbai) to Kolkata (Sankrail)
using Railway Parcel Vans, providing seamless end-
to-end logistics services to trade. The traffic of lube oil,
bags, electrical appliances, and FMCG products would be
captured under this service.

AWARDS & RECOGNITION:

•    CONCOR Ranked ‘278^th in The Fortune India 500 List',

solidifying its place among India's Leading Corporations
through strong performance, reliable logistics, and
consistent growth.

•    The Company has successfully completed 11 years of
prestigious ‘Navratna Status — a symbol of Excellence’ in
the Public Sector, which was granted on 23.07.2014.

•    CMD CONCOR has been conferred with the “SEPC
Stellar Visionary Leader of the Year Award” during the
Conclave on Future-Ready Logistics in India, organized
by the Services Export Promotion Council (SEPC), on

29.08.2025    in New Delhi.

•    CMD, CONCOR has been conferred the "Dynamic Trade
Facilitator of the Year - Logistics" Award for Excellence in
Maritime and Logistics Sector at the 15^th All India Maritime
and Logistics Awards (MALA) 2025 function, organized by
EXIM India at Mumbai.

•    CONCOR, Ahmedabad Cluster has been honoured with
three prestigious accolades at the ‘Gujarat Smile Awards
2026', presented during the ‘Viksit Gujarat Maritime,
Logistics & Export Summit 2026' in Ahmedabad on

27.02.2026    i.e. ‘Best Logistics Company of the Year
(Public)', ‘Best ICD of the Year (Public) - ICD Khodiyar'
and ‘Logistics Infrastructure Development (ICDs/CFSs)
- ICD Varnama'.

•    “Inland Container Depot” and “Rail Operator of the Year
(Public)” at Northern India Multimodal Logistics Award
CONquest 2026 of EXIM India during ‘17^th Edition of
CONquest 2026’ held on 09.01.2026 in New Delhi.

•    Honored as “Inland Container Depot” & “Rail Operator of
the Year (Public)” at the prestigious ‘EXIM Star Awards
2025', held in Gandhidham, Gujarat on 19.12.2025.

•    Conferred with a ‘Three Star Rating' of GRIHA (Green
Rating for Integrated Habitat Assessment) for Existing
Buildings, which is a Rating Tool, developed by TERI (The
Energy and Resources Institute).

•    ‘Dun & Bradstreet Public Sector Excellence Award
2025' in the Category of ‘Transport Services - Rail

(Central PSU)'. The Award was received during the 17^th
Edition of the PSU and Government Summit held on

26.09.2025 in New Delhi.

•    The ‘2025 SKOCH Gold ESG Award' in recognition of
“Green Initiatives” taken by CONCOR during the function
held in Delhi on 20.09.2025.

•    Prestigious Award for “Dynamic Trade Facilitator of the
Year at the South East CEO Conclave & Awards 2025”,
held in Chennai on July 9, 2025.

CONCOR’s project of ‘Indigenous Production of Shipping
Containers' was honoured with the Silver Award at the
ET Government PSU Leadership & Excellence Awards
2025, organised by The Economic Times on 19.06.2025 at
New Delhi, towards empowering Indigenous Production &
Technology, under CONCOR’s Make in India Initiative.

Emerged as the Top Logistics Champion 2025 in the
‘Large-Sized Service Providers Category' during 7^th
India Logistics Strategy Summit, Ranking & Awards
2025 organized by ISCM Forums, which is backed by the
Institute of Supply Chain and Management Pvt. Ltd.

ENERGY CONSERVATION AND TECHNOLOGY
ABSORPTION:

In MIS functions for energy conservation and technology absorption
Virtualization is being done in the Servers of major applications,
which is the latest technology, with the objective to reduce
the hardware, reduce the power consumption and the cooling
requirement. Implementation of MPLS connectivity in place of VSAT
also reduced the power consumption by hardware equipments.
To save power multiple servers are also being controlled through
single console instead of having the separate monitors, which save
power as well as reduce cooling requirement. All the CRT monitors
have been replaced by LCD/LED monitors, which have reduced
the power requirement drastically. Procurement of All in One
(AIO) systems in place of Computers to consume single power for
system. Most Printers of desktops/ laptop are configured in power
saving mode. In addition to above, to conserve the energy and to
reduce power requirement/ heat dissipation wherever possible,
consolidation is practiced as per the requirement.

The following steps/ plans are taken towards energy efficiency:

•    All old conventional lights (i.e. Tube Light, Flood light,
street light etc. t) in all terminal of Area-1 have been
successfully replaced with equivalent LED lights. This
enables saving of electricity and decrease of electricity
consumption compared to last year.

•    Details of led lights replaced in FY-2025-26:

•    300 watt led Flood lights -300nos.

•    100 watt led Flood lights - 755nos.

•    45 watt led lights-200nos.

•    20 watt led Tube lights -1170nos.

•    Energy audit was successfully conducted in 48 terminals
of CONCOR all over India. In this regard, power demand at
Dhappar terminal reduced from 250 KVA to102 KVA & at

Punjab State Warehouse Co. leased by CONCOR reduced
from 99 kVA to 35 kVA and at DDL terminal reduced from
436KVA to 200KVA. Further, for Agra terminal, it has been
proposed for reducing from HT supply to LT supply.

•    05 nos. Electric RSTs successfully commissioned
(03 E- RSTs at ICD-Whitfield & 02 E-RSTs at ICD-
Tughlakabad) in FY-2025-26

•    02 nos. Electric Truck & Trailers deplored at ICD/Dadri for
the movement of Delhi/NCR area in FY-2025-26.

achieved a ‘Three Star Rating’ of GRIHA (Green Rating for
Integrated Habitat Assessment) for Existing Buildings,

i.e. for its Corporate Office, CONCOR Bhawan, which is a
Rating Tool, developed by TERI, adopted by the Ministry
of New and Renewable Energy. This rating is awarded for
meeting specific criteria related to Site Planning, Energy
and Water Conservation, Human Health etc.

FOREIGN EXCHANGE EARNINGS & OUTGO:

During the year, there were no foreign exchange earnings

during current year as well during previous year.

The details of foreign exchange outgo are as under:

•    2^nd LNG station successfully installed and commissioned
at CONCOR DADRI terminal on 01.03.2026 by M/s IGL.

•    To reduce the air pollution, CONCOR deployed 230 Nos.
LNG Trucks along with flatbed Trailers at different terminal
of CONCOR. 100 LNG trucks are procured and deployed
in FY- 2025-26. As per the reports, LNG powered vehicle
emits 25% less CO2 emission as compared to diesel vehicle.

•    CONCOR has procured 12 nos. 5 Star Rating CASSETE
Air Conditioners, 31 nos. Split Air Conditioners, 20 nos.
Window Air Conditioners. In addition, 134 nos. BLDC
ceiling fan and 119 wall mounted fan with Star Ratings.
This also enables to save electricity. In addition to above,
Air desert coolers being used for large space to minimize
the use of Air conditioners. During FY 2025-26, CONCOR
procured 26 nos. of energy-efficient air desert coolers and
30 nos. of stand fans.

•    Placed the order on M/s REMC Limited on 04.04.2025
for establishment of 220KW Solar Power Project (i.e.
200 KW at CONCOR MMLP/Barhi and 20 KW at our
Corporate Office, CONCOR Bhawan) with 5 years
operation & Maintenance.

•    Signed MOU with M/s GAIL (INDIA) Limited on

23.04.2025 to explore the possibilities of setting up the
LNG Stations at CONCOR terminals on Pan India basis
and LNG transportation from LNG Terminal to CONCOR
depots/terminals.

•    Signed MOU with The Energy and Resources Institute
(TERI) to develop strategies, detailed research and policy
development work for green logistics solutions, promoting
environmentally responsible freight transportation, and
exploring innovative technologies for reducing carbon
footprint in logistics operations. In line with MOU, CONCOR

RESEARCH & DEVELOPMENT (R&D):

To reduce pollution by using of Green Fuel:

In the recent past, National Capital Territory (NCT) area
witnessed high level of Air pollution in the winter months
every year from around September onwards due to the range
of factors including stubble burning in neighboring states and
vehicular traffic leading to huge pollution in the NCT area. Heavy
Vehicles accounts for larger chunk of PM2.5 pollution to the
overall vehicle emissions.

Keeping in view of huge pollutions in winter, Ministry of
Environment, Forest & Climate Change and various authorities
monitoring the pollution in the NCT area, a slew of measures,
including a ban on entry of trucks and plying of diesel-fueled
Medium Goods Vehicles (MGVs) and Heavy Goods Vehicles
(HGVs) within Delhi’s limits, was declared by the authorities
from time to time, which affects the business of CONCOR also.
However, during this period, movement of MGV’s & HGV’s using
green fuel Like, LNG, CNG & e-vehicle was allowed.

In view of the serious issues of pollution and their effects,
CONCOR has taken following initiatives:

I.    Deployed 230 Nos. LNG Trucks along with flatbed Trailers
at different terminal of CONCOR. 100 LNG trucks are
procured & deployed in FY-2025-26.

II.    Placed the order for Design, Manufacture, supply &
commissioning of 07 nos. of loaded Electric Reach Stackers
(RSTs). Out of which, 05 Electric Reach Stackers (RSTs)
i.e. 03 E- RSTs at ICD-Whitfield & 02 E-RSTs at ICD-
Tughlakabad have been commissioned in FY-2025-26.

III.    Under the pilot project, CONCOR deployed the 2 nos. of
Electric trucks at TKD terminal for trial in FY 2025-26.
These Electric trucks supplied by M/s Convergence Energy
Service Limited, a wholly owned subsidiary of M/s Energy
Efficiency Services Ltd, (EESL) which is a JV of PSUs, under
Ministry of Power.

Acquistion of ISO containers under Make in India:

Under make in India i.e. Aatmanirbhar Bharat, total of 5,009
containers acquired during the year 2025-26.

Expenditure on R&D:

Expenditure of H146.93 Crore has been incurred in FY- 2025¬
26 towards development of indigenous manufacturers for
manufacturing & supply of 20 FT High Cube End Open
ISO container.

During 2024-25, expenditure of H76.73 Crore was incurred
towards development of indigenous manufacturers for
manufacturing & supply of 20FT HCEO ISO container, Tank
containers for bulk Cement destuffing solution system & up-
gradation of BLC Wagons into BLCM wagons.

PRESIDENTIAL DIRECTIVE(S):

No Presidential Directives issued by Govt. were received by
CONCOR during the last three years.

PROCUREMENT FROM MSEs

The details of Procurement of Goods & Services from Micro and Small Enterprises, details for FY 2025-26 on Consolidated basis, are as under:
Annual Procurement Target FY 2025-26 = H70.24 crores

The relevant clauses pertaining to the MSEs are included
in all tenders and exemption of EMDs & Tender Sale Price is
extended to the MSE bidders. The Annual Procurement Plan is
uploaded on the Official Website and on Sambandh Portal. The
requisite details of Procurement from MSEs has been updated
on Sambandh Portal on monthly basis.

All payments have been done to MSE Vendors within the prescribed
time limit. Further, details of payments made and payments
pending beyond 45 days from the date of actual delivery of goods
and/or services (or from the date of resolution of objections, where
objections are raised by the buyer in writing within 15 days of
delivery/service) during the year 2025-26 are as under:

(i)    Total Amount Involved : H461.04 Crores

(ii)    Number of Invoices : 8,004 (MSEs)

(iii)    Number of Suppliers involved in Delays : Nil

(iv)    Total annual procurement value : H 361.04 Crores

(v)    Total number of invoices during the year : 29,523 (All in
numbers, including MSEs)

(vi)    Total number of suppliers during the year engaged in
annual procurement : 781 (MSEs)

PROCUREMENT FROM Government Dedicated e
-Marketplace (GeM):

On recommendations of the Group of Secretaries, GOI decided to
set up a dedicated dedicated e-Marketplace for different goods &
services procured by Government Organisations / Departments
/ PSUs. Government dedicated e-Marketplace facilitates online
procurement of common use Goods & Services required by various
Government Departments / Organisations / PSUs. GeM aims to
enhance transparency, efficiency and speed in public procurement.

It provides the tools of e-bidding, reverse e-auction and demand
aggregation to facilitate the government users, achieve the best
value for their money.

During the year your company has procured through GeM,
Goods & Services worth H307.01 crores out of total procurement
of H461.04 crores.

ONBOARDING ON TReDS PLATFORMS:

Trade Receivables Discounting System (TReDS) is an initiative
to help Micro, Small and Medium Enterprises (MSMEs) unlock
immediate working capital by selling unpaid invoices to multiple
financiers through competitive digital bidding. TReDS eliminates
the crippling financial burden of lengthy corporate payment
cycles, ensuring that small suppliers receive cash quickly without
having to provide physical collateral.

To support the initiative, your Company has onboarded on all
five active /operational platforms upto 31.03.2026.

RAJBHASHA:

Corporate office of CONCOR has made significant progress
in the use and promotion of the official language after being
notified in October 1993 under the Official Languages Rules,
1976. Some of the important official language achievements for
the financial year 2025-26 are as follows:

Complete compliance of Section 3(3): As in previous years, this
year too, CONCOR has made significant progress in the use
of the official language, Hindi, in official work. The provisions
of Section 3(3) of the Official Languages Act have been fully
complied with, and letters received in Hindi have also been
replied to in Hindi. Correspondence with offices in Regions A, B,
and C has been conducted in Hindi, in accordance with targets
set by the Official Language Department.

Organizing meetings of the Official Language
Implementation Committee: Quarterly meetings of the
Official Language Implementation Committee, chaired by
the Chairman and Managing Director, were held regularly
to review the progress made in promoting the use of
Hindi in CONCOR and the decisions taken therein were
implemented appropriately.

Chairman and Managing Director, CONCOR chairing the Official
Language Implementation Committee

Official Language Inspection and Hindi Workshop
of Cluster Offices: During the year, inspections were
conducted at cluster offices, including the Corporate Office,
to address deficiencies in the use of Hindi in official work.
Hindi workshops were held on various topics to promote
the use of simple Hindi and to create awareness about the
official language, Hindi, among employees.

Hindi-Pakhwada 2025:

Hindi Pakhwada was successfully organized from
14^th September, 2025 to 28^th September, 2025 at the
Corporate Office of CONCOR. As per the guidelines of the
Ministry of Home Affairs, the fortnight was inaugurated
with CONCOR's participation in the All India Official
Language Conference held in Gandhi Nagar, Gujarat.
During this period, Hindi sangosthi, Yugal Gagayn , Hindi
noting , Kavi sammelan , etc. were organized. The fortnight
concluded on September 30, 2025 with the distribution
of prizes to the winning participants by the Chairman and
Managing Director.

•    A total of 91 employees of CONCOR including Area
Offices were given a total cash award of H1,43,000/- for
their original work in Hindi under the 'CONCOR Official
Language Award Scheme' in the year 2024-25.

•    Inspection by the Parliamentary Committee on
Official Language

To ascertain the continued use of Hindi in the offices,
Parliamentary Committee on Official Language inspected at
Corporate Office (Delhi) on 10 June 2025, Gatishakti Terminal,
Varnama (Gujarat) on 01 July 2025, Whitefield, Bangalore
(Karnataka) on 24 September 2025, Corporate Office, Delhi on
19 January 2026 and Jodhpur Terminal on 22 January 2026. The
Committee highly appreciated the steps taken by CONCOR to
promote the use of Hindi.

VIGILANCE:

Vigilance Department’s prime objective is to protect the honest
and to carry out focused investigations to give deterrence to the
corrupt elements and to encourage honesty as a culture among
employees at all levels and to promote Integrity and Transparency
within an organization including the areas of Procurement of
Goods, Works and Services. Vigilance department is with the
mandate to fight corruption as an integral part and ensuring
good governance in the organization.

CONCOR continuously and regularly endeavours to ensure
fair and transparent transactions through technology
interventions and system/process review in consultation with
various Stake Holders.

The following activities were undertaken during the
financial year 2025-26:

1.    During the year 2025-26, 17 nos. of Preventive/ Surprise
checks/ CTE type checks were conducted at various Area
/ Cluster Offices/ Inland Container Depots/ Container
Freight Stations.

2.    28 nos. of cases were registered/ investigated on the basis
of complaints and other information. Periodic surprise
checks were conducted regularly in the vulnerable areas
of the company.

3.    Suitable penal action was taken against erring officials and
contractors. An amount of H12.23 lakh was recovered from
various contractors/customers during the financial year.

4.    During the F.Y. 2025-26, a total number of 08 D&AR cases
have been observed for finalization. Out of which 03 cases
are closed and 05 are under process of finalization.

5.    On the suggestion of Vigilance Division, respective user
departments have issued 09 no. of system improvements
for improvement in systems and procedures.

6.    Vigilance Awareness Week serves as an important
platform for creating awareness about ill effects of
corruption, promoting anti-corruption measures and
reinforcing integrity. It serves as a reminder for government
officials, organizations and citizens, of their collective
role in fostering values of integrity, transparency and
accountability.

7.    In all offices of CONCOR, Vigilance Awareness Week
(VAW) was observed from 27^th October 2025 to 02^nd
November, 2025.The theme of the Vigilance Awareness
Week -2024 was:

“Vigilance: Our Shared Responsibility;
gvHivi: gmal gipi fO^XRl”

During the three months campaign on Preventive Vigilance
Measures, various activities were undertaken by the
organization as a precursor to Vigilance Awareness Week.

• Vigilance Division organized various lectures/talks
through the Senior level officers/prominent dignitaries
on the topic “Asset Management”, “Investigation &

Report and Framing of Chargesheet”, “Vigilance: Our
Shared Responsibility, Cyber Security and Hygiene”.

•    Workshop on “Change Management” for Senior
Level Officers.

•    Online training on “Digital Initiatives in CONCOR”.

In addition, Vigilance Division had also conducted various
contests for employees and their family members like
Drawing, Cartoon Sketch, Slogan Writing, Poem and
Essay Writing in which all had participated with great
enthusiasm and a total no. of 148 entries have been
received. Other than Corporate Office, various activities
had also been undertaken in the terminals also:

•    Workshop on “Policies & Procedures of CONCOR”
at Nagulapally.

•    Workshop on “Policies & Procedures of CONCOR” at
Mandideep, Bhopal.

•    Workshop on “Policies, Procedures & Preventive
Vigilance Measures” at Dhandarikalan (DDL).

•    Sensitization through Walkathon at ICD,
Whitefield, Bangalore.

•    Interactive session with Service Providers
at MMLP Raipur.

•    Interactive session/workshop with customers and
contractors at Dhandarikalan, DDL.

•    Sensitization programme on “Digital
Initiatives” at Khodiyar.

•    Grievance Redressal Camps/Vendors Meet were
organized with CONCOR employees, Customers,
Custom House Agents (CHA), Freight Forwarders,
Contractors and other stakeholders in various Area/
Terminal offices of CONCOR during the Vigilance
Awareness Week-2025. These Camps were
organized at the Cluster Head levels. During the
discussion, issues/grievances were discussed and
redressed to the satisfaction of the customers.

•    Awareness was spread through SMS messages on
Vigilance Awareness Week to all the employees for
taking e-pledge.

•    The details of activities, alongwith photographs,
undertaken by the Corporate office were uploaded
in social media regularly during the VAW-2025.
Awareness was also spread through internal
Whatsapp group of Area Offices.

8. In order to motivate the employees to be alert on work
place, the award for “The Most Vigilant Employee of the
Year” was instituted and Shri Vinod Kumar Joshi, Asst.
Manager (Engg.), Corporate Office, has been honoured with
this prestigious award for F.Y 2024-25 for his innovative
thinking in adopting a Zincalume Steel Water Storage
Tank, which has resulted in significant cost saving”.

DIRECTORS’ RESPONSIBILITY STATEMENT:

Pursuant to Section 134(5) of the Companies Act 2013, your
Directors hereby confirm that:

i)    In the preparation of the annual accounts, the applicable
accounting standards have been followed along with
proper explanation relating to material departures.

ii)    The Directors have selected such accounting policies
and applied them consistently and made judgments and
estimates that are reasonable and prudent so as to give a
true and fair view of the state of affairs of the Company at
the end of the financial year and of the profit and loss of
the Company for that period.

iii)    The Directors have taken proper and sufficient care for
the maintenance of adequate accounting records in
accordance with the provisions of the Companies Act,
2013 for safeguarding the assets of the Company and for
preventing and detecting fraud and other irregularities.

iv)    The Directors have prepared the annual accounts on a
going concern basis.

v)    The Directors have laid down internal financial controls to
be followed by the Company and that such internal financial
controls are adequate and were operating effectively.

vi)    The Directors have devised proper systems to ensure
compliance with the provisions of all applicable laws and
that such systems were adequate and operating effectively.

MANAGEMENT DISCUSSION AND ANALYSIS:

The detailed Management Discussion and Analysis forms a part
of this report at Annexure-A.

CORPORATE GOVERNANCE & GREEN INITIATIVE:

Your Company has taken structured initiatives towards Corporate
Governance & its practices are appreciated by various stakeholders.
Your Company believes in the principle that good Corporate
Governance establishes a positive organizational culture and it is
evident by responsibility, accountability, consistency, fairness and
transparency towards its stakeholders. As required under SEBI
(LODR) Regulations and DPE guidelines on Corporate Governance,
a separate report on Corporate Governance practices followed by
the Company forms part of this Report at Annexure-B.

Your Company has complied with the provisions of the Companies
Act, 2013, SEBI (LODR) Regulations, 2015 and DPE guidelines
on Corporate Governance in respect of Composition of Board
of Directors, Board Committees, Holding Board & Committee
meetings, Related Party Transactions and Disclosures &
Transparency to the extent, the same are in control of the Company.
The details in this regard are as per report placed at Annexure-B.

A Practicing Company Secretary has examined and certified
your Company’s compliance with respect to conditions
enumerated in SEBI (LODR) Regulations and DPE guidelines
on Corporate Governance. The certificate required under DPE
guidelines and SEBI (LODR) Regulations forms part of this
Report at Annexure- C.

As a responsible corporate citizen and to reduce carbon footprint,
your Company has actively supported the implementation of
‘Green Initiative’. Electronic delivery of notice of Postal Ballot,
notice of Annual General Meeting (AGM) and Annual Report
along with other communications is being done to those
shareholders whose email ids are already registered with the
respective Depository Participants (DPs) and downloaded from
the depositories i.e. NSDL/CDSL and who have not opted for
receiving Annual Report in physical form. Accordingly, unless
otherwise desired by the shareholders, the Company sends
all documents to the shareholders viz. Notice, intimation
for dividend, Audited Financial Statements, Directors’ and
Auditors’ Report, etc. in electronic form to their registered
e-mail addresses.

In terms of exemption granted by MCA vide General Circular
No. 03/2025, dated 22.09.2025 read with earlier Circulars and
updated SEBI Listing Regulations, Annual Reports are being
circulated among the members whose email IDs are available
with the Company through electronic mode. Accordingly, no
physical copies of the Annual Reports are being circulated
among the members of the Company for Financial Year 2025-26.

CORPORATE SOCIAL RESPONSIBILITY (CSR) AND
SUSTAINABLE DEVELOPMENT:

CONCOR’s social initiatives in FY 2025-26 continued to be
focused on overall development of society with main focus on
‘Health & Nutrition’ activities in terms of guidelines issued by
Department of Public enterprises (DPE). Activities in other areas
like Education, Skill Development, Environment Sustainability,
Sports, Infrastructure development etc. have also amply been
addressed for the overall welfare of the society with focus on
mainly deprived section of society. Some of major activities
undertaken by the company during the year are:

•    Preventive Health camps continued to be organized like
previous years in major locations of CONCOR facilities
benefitting approximately 7000 stakeholders by organizing
18 health camps which have been instrumental in providing
Primary Health Checks and arresting growth of other
diseases. Health camps were also organized by CONCOR
in Chitrakoot, Uttar Pradesh, West Bengal & Delhi.

•    Supported to Heartfulness Institute towards Yoga Maha
Kumbh, 2025 from 18^th June, 2025 to 20^th June, 2025 at
New Delhi. The said Yoga Maha Kumbh was organized in
association with Ministry of Ayush for overall benefit of
Health of the community.

Provided One (1) 09 Mtr Electric AC Bus - JBM (Low Floor
with 196 kwh Battery) to All India Institute of Medical
Sciences (AIIMS), New Delhi under CSR activities. This
will help patients and their families to commute to the
respective treatment centres for treatment. It will also be
helpful for green energy initiatives.

Continued its support towards education of under¬
privileged and poor students by supporting 30 bright
students towards preparation for higher studies (NEET) in
Madhya Pradesh as well as supporting in operation and
strengthening of infrastructure of primary schools and
Secondary school at Haryana Uttar Pradesh, Bihar and
Delhi benefitting 7500 such students.

Supporting in improvement and up-gradation in 23 Rural
Schools of Jalna District of Maharashtra and Construction
of seven additional rooms with washrooms Tribal Girls
Hostel Building of Rajkiya Kanya Mahavidyalaya, Shimla,
Himachal Pradesh. In addition, CONCOR also supported for
distribution of 130 Smart Shiksha Tablet which is helpful
for Advancing Digital Learring in Dewas, Madhya Pradesh.

Installation of Atmospheric Water Generators (AWG)
system at Kendriya Vidyalaya, Dundigal, Hyderabad.

Skill Development Training to 170 women/girls
Empowerment (Cutting & Tailoring, Beauty Culture &
Computer Operation) in Kohra Colony, Dist, Ghaziabad,
Uttar Pradesh and Skill development training and
handholding for employment women economically
empowered in Delhi stitching tailoring and Office
Management at New Delhi. CONCOR also supported
Computer Training to 100 children at Varanasi, Uttar
Pradesh and Mobile First-Aid Skill Training to the 1700
Rural Women of Morigaon District, Assam.

•    Development of Shanti Dhyan Vitika - Budhha Theme Park
beside Udayagiri Heritage site Jajpur, Odisha.

•    Installation of open outdoor GYM machine in,
Bulandshahar Chandauli, Ballia, Sitapur, Uttar Pradesh
and Balasore, Odisha.

Finishing & interior work of ground floor in hostel
for Mental wellness & De-Addiction at wave city
Ghaziabad, Uttar Pradesh.

•    An amount of H40.59 crores have been disbursed in
FY 2025-26 towards CSR activities involving Health &
Medical care, sanitation, education/literacy enhancement,
community development, rural development, environment
protection, conservation of natural resources and
infrastructure development etc.

Further, the Board of Directors are satisfied that the funds of CSR
have been spent in the manner approved by it and this has also
been certified by the Director (Finance) & CFO of the Company.
The Annual report on CSR activities is as per Annexure-D.
Further, the Compliance parameter on DPE guidelines on CSR
expenditure have been complied with by the Company in terms
of MoU for the year 2025-26.

RISK MANAGEMENT:

As per the requirement of SEBI (LODR) Regulations, 2015, the
Company is having a Board level Risk Management Committee.
The particulars of Committee, its terms of reference, meetings
held, etc. are stated in the Corporate Governance Report
forming part of this Report. The Company has a well laid down
Risk Management (RM) system to identify, evaluate risks and
opportunities. The said system seeks to create transparency,
minimize adverse impact on the business objectives and
enhance the Company’s competitive advantage. The risk
management system defines the risk management approach
across the enterprise in various business activities. The RM
structure has different risk models which help in identifying risk
trends, exposure and potential impact analysis at Company level
and also separately for business segments. It forms an integral
part of the Company’s functioning and the Board of Directors
are being regularly apprised about the status of various risk
elements and the mitigation plans for the same.

INTERNAL CONTROL SYSTEMS AND THEIR
ADEQUACY:

CONCOR’s Internal Control Systems are commensurate with its
size, scale and complexity and nature of its business activities.
Internal audit constitutes an important element in overall
internal control systems of the Company. The scope of work
of the internal audit is well defined and is very exhaustive to
cover all crucial functions and businesses of the Company. The
internal audit in the Company is carried out by the independent
professional firms appointed for this purpose.

The respective department of the Company monitors and
evaluates the efficacy and adequacy of internal control system in
the Company, its compliance with operating systems, accounting
procedures and policies. Based on the report of internal auditors,
necessary steps are taken at regular intervals to further strengthen
the existing systems and procedures. The significant observations
of internal auditors and corrective actions thereon are presented
to the Audit & Ethics Committee of the Board at regular intervals.
In addition, the implementation and effectiveness of internal
financial controls during 2025-26 was also reported by the
internal and statutory auditors of the Company.

PARTICULARS OF EMPLOYEES:

As per provisions of section 197 of the Companies Act, 2013 read
with the Rule 5 of the Companies (Appointment and Remuneration
of Managerial Personnel) Rules, 2014, every listed company is
required to disclose the ratio of the remuneration of each director to
the median employee’s remuneration and such other details as may
be prescribed in the Directors’ Report. However, as per Notification
No. GSR 463(E) dated 5^th June, 2015 issued by the Ministry of
Corporate Affairs, Government Companies are exempted from
complying with provisions of section 197 of the Companies Act,
2013. Therefore, CONCOR being a Government Company, such
particulars are not included as part of Directors’ Report.

AUDITORS:

Being a Government Company, the Comptroller & Auditor
General (C&AG) of India had appointed Company’s Statutory
Auditors for the financial year 2025-26. M/s. Hem Sandeep
& Co., Chartered Accountants were appointed as Company’s
Statutory Auditors for the year 2025-26. The statutory
auditors were appointed by C&AG vide its letter No. CA.V/COY/
CENTRAL GOVERNMENT, CCIL(1)/382, dated 10.09.2025.
The Statutory Auditors of the Company is being paid fee of
H31,81,500/- (excluding GST). The Statutory Auditors have
audited the Annual Financial Statements of the Company for
the financial year ended on 31.03.2026. During the year under
review, Auditors have not reported to the Audit Committee or
the Board, under Section 143(12) of the Companies Act, 2013
any instances of fraud committed against the Company by its
officers or employees. In respect of observations of the Statutory
Auditors in their report on Standalone and Consolidated
Financial Statements, Management replies have been enclosed
as Addendum-I and Addendum-II to this report.

The C&AG has undertaken supplementary audit on the accounts
of the Company for the year ended 31^st March, 2026 under
Section 139(5) of the Companies Act, 2013. The comments of
the C&AG on the Annual Accounts of the Company for the year
ended 31^st March, 2026 along with management reply, if any,
will forms part of this report as and when received.

Further, CONCOR is not required to maintain cost records as
required under section 148 of Companies Act, 2013 and rules
made thereunder.

BOARD OF DIRECTORS:

CONCOR being a Government Company, the appointment
of directors on its board are communicated by the Ministry of
Railways from time to time. During the financial year 2025-26,
six meetings of the Board of Directors were held for transacting
various businesses. During the year and upto the date of this
report, the directorship in the Company are, as under:

-    Shri Ajit Kumar Panda, Chairman and Managing Director
w.e.f. 01.08.2026 and Director (Project & Services) [DIN:
08221385] upto 31.07.2026.

-    Shri Vijoy Kumar Singh, Director (International Marketing
& Operations) [DIN: 10391476] with additional charge of
Director (Projects & Services) w.e.f. 01.08.2026

-    Shri Harbrinder Singh Bajwa, Director (Domestic Division)
[DIN: 11506675] (additional charge) (w.e.f. 01.03.2026)

-    Shri    Vivek Gupta, Director (Finance) & CFO [DIN:

11674836] (w.e.f. 21.04.2026)

-    Shri Rakesh Kumar Rousan (Part-Time Govt. Nominee)
[DIN: 11350227] (w.e.f. 22.10.2025)

-    Shri    Rahul Agarwal (Part-Time Govt. Nominee)

[DIN:08970712] (w.e.f. 19.03.2026)

-    Shri    V. Kashiho Sangtam, Independent Director

[DIN:11911049] (w.e.f. 26.08.2026)

-    Shri Sanjay Swarup, Chairman and Managing Director
[DIN: 05159435] (upto 31.07.2026)

-    Smt. Namita Devi alias Lovely Gupta, Independent Director
[DIN:07436235] (w.e.f. 07.07.2025 and upto 06.07.2026)

-    Smt.    Pallavi Joshi, Director (Finance) [DIN:08117196]

(additional charge) (w.e.f. 08.04.2026 and upto 21.04.2026)

-    Shri Chesong Bikramsing Terang, Independent Director
[DIN: 09401230] (reappointed w.e.f. 15.04.2025 and
upto 14.04.2026)

-    Shri    Kedarashish Bapat, Independent Director [DIN:

02535543] (reappointed w.e.f. 15.04.2025 and
upto 14.04.2026)

-    Shri    Anurag Kapil, Director (Finance) [DIN:06640383]

(additional charge) (upto 31.03.2026)

-    Shri Mohammad Azhar Shams, Director (Domestic
Division) [DIN: 07627473] (upto 28.02.2026)

-    Shri Prabhas Dansana (Part-Time Govt. Nominee) [DIN:
07973307] (upto 17.02.2026)

-    Shri R. C. Paul Kanagaraj [DIN:10199485] (reappointed
w.e.f. 16.04.2025 and upto 30.01.2026)

-    Shri Sandeep Jain (Part-Time Govt. Nominee) [DIN:
09435375] (upto 07.08.2025)

In terms of provisions under SEBI (LODR) Regulations and
DPE guidelines, CONCOR being a listed Company and having
an executive Chairman, 50% of its Board of Directors should
comprise of Independent Directors. However, the company was
not having requisite number of Independent directors during
the year, including at least one woman Independent Director
for part of the year. The Secretarial Auditor has also given
observations in this respect in their report. In this respect, as
Directors on the Board are appointed by Government, CONCOR
had regularly requested Ministry of Railways for appointment
of requisite number of Independent Directors to comply with
the applicable requirements under SEBI (LODR) Regulations,
DPE Guidelines and Companies Act and the same was also
informed to Stock Exchanges. Further, it is stated that except
the above issue of not having requisite number of Independent
Directors (on which the Company has no control), impacting
Board and its Committee Composition, the Company has duly
complied with all the provisions of Companies Act, 2013,
SEBI (LODR) Regulations, 2015 including related to Corporate
Governance, holding Board & Committee meetings, Related
Party transactions, Disclosure and Transparency, etc.

RETIREMENT OF DIRECTORS BY ROTATION:

As per the Companies Act, 2013 the provisions in respect of
retirement of Directors by rotation will not be applicable to
Independent Directors. In view of this, no Independent Director
is considered to be retiring by rotation but all other directors are
liable to retire by rotation. Accordingly, one third among all other
directors namely Shri Vijoy Kumar Singh, Director (International
Marketing & operation) is liable to retire by rotation and being
eligible, offer himself for reappointment.

EVALUATION & REMUNERATION:

As per provisions of Section 134(3)(p) of the Companies Act
2013, the Board’s Report of a Listed Company shall include a
statement indicating the manner of formal annual evaluation
of Board, Committees & Individual Directors etc. Ministry
of Corporate Affairs has vide its notification dated 5^th June,
2015 notified the exemptions to Government Companies from
the provisions of the Companies Act, 2013 which inter-alia
provides that Section 134(3)(p) regarding statement on formal
annual evaluation shall not apply to Government Companies
in case the Directors are evaluated by the Ministry which is
administratively in-charge of the company as per its own
evaluation methodology. Further, it has been provided that the
provisions of Sub-Sections (2), (3) & (4) of Section 178 regarding
appointment, performance evaluation and remuneration shall
not apply to Directors of Government Companies.

In terms of notification dated 05.07.2017 issued by MCA
the provisions in Schedule IV of the Companies Act, 2013
about reviewing the performance of Chairperson and non¬
independent directors and the Board as a whole by the
Independent Directors in their separate meeting and that on
the basis of performance evaluation of Independent Directors,
it shall be determined whether to extend or continue their term
of appointment shall not apply to a Government Company if the
requirements in respect of same are specified by the concerned
Ministries or Departments of the Central Government and such
requirements are complied with by the Government Companies.
In view of above, since the appointment of all Directors in the
Company is decided by the Govt. of India, the requirement
related to evaluation of directors as stated in Schedule-IV are
not applicable to CONCOR.

Similarly, the SEBI (Listing Obligations and Disclosure
Requirements) Regulations, 2015 also provides that the
Nomination and Remuneration Committee to formulate the
criteria for evaluation of performance of independent directors
and the Board of directors, evaluation of independent Directors
to be done by the Board of Directors and the independent
directors in their separate meeting inter-alia to review the
performance of Chairperson, non-independent directors and the
Board of directors as a whole. Since CONCOR is a Government
Company, which is exempt under Companies Act, 2013 from
similar provisions, the Company has sought exemption from
SEBI regarding applicability of above SEBI (LODR) provisions to
it. SEBI vide its letter dated 26.03.2025 has granted exemption
from certain provisions of SEBI (LODR) Regulations, 2015
which are Regulation 34(3) read with clause (d) of Para 4 of
Part C of Schedule V regarding Nomination and Remuneration
Committee (NRC) to lay down performance evaluation criteria
for Independent Directors; Regulation 17(10) (a) regarding
performance evaluation of Independent Directors by the Board;
and Regulation 19(4) read with clause (2) of Para A of Part D of
Schedule II regarding NRC to laid down the criteria for evaluation
of Independent Directors and Board of Director.

On perusal of the above provisions, it can be concluded that there
is no requirement for evaluation of Board, Non-Independent
Directors, Chairperson and Independent Directors under
Companies Act, 2013. For the evaluation of all the Directors in a
Government Company, the Government has already laid down
the procedure, which is being followed.

The above provision applicable for evaluation of the Chairperson/
Directors/Board, were placed before the separate meeting of the
Independent Directors in its meeting held on 29.01.2026. In the
said meeting the Directors have taken note of the provisions
and stated that being a Government Company the Directors
performance may continue to be reviewed by the Government
in the same manner as is being done every year, hitherto.
The Independent Directors have also placed on record their
appreciation for the Chairman and Managing Director, functional
Directors as well as the entire CONCOR team.

Similarly, the above provision applicable for evaluation of the
Chairperson/ Directors/ Board and statement in board report
have been taken note by the Board of Directors of the Company
in its meeting held on 24.07.2026. In the said meeting the Board

has taken note of the same and have reiterated that being a
Government Company the performance of Chairman/ Directors
may continue to be reviewed and evaluated by the Government
in the same manner as is being done every year, hitherto. The
Board also placed on record its appreciation for the contribution
being made by the Independent Directors.

The selection, evaluation criteria and the remuneration
guidelines which are being followed in the Company are
elaborated as under:

CONCOR is a Government Company under the administrative
control of Ministry of Railways. The selection procedure for all
the directors is also laid down by the Government of India and all
the directors of the company have been appointed in accordance
with the said procedure. The functional directors including CMD
are selected on the recommendations of PESB in accordance
with the procedure and guidelines laid down by Govt. of India.
Its Board of Directors are appointed by Government of India
and there is a system and procedure laid down by Department
of Public Enterprises for evaluation of its functional directors
including Chairman and Managing Director. The evaluation
framework for assessing the performance of functional directors
comprises of the following key areas:

•    Performance of the company under the MOU signed with
Ministry of Railways.

•    Performance with respect to the targets fixed for the
respective director.

The evaluation includes self-evaluation by the respective Board
member and subsequent assessment by CMD for the functional
directors and thereafter final evaluation by the Ministry of
Railways, the Administrative Ministry. In respect of CMD the
evaluation includes self-evaluation and final evaluation by
the Ministry of Railways. In respect of Government nominee
directors their evaluation is done by the Ministry of Railways as
per the laid down procedure.

The induction of officers at below Board level is made by
way of recruitment, promotion and/or lateral entry by way of
deputation/immediate absorption of the officials from Ministry
of Railways, Govt. Departments and other PSUs.

The performance of below Board Level Officials at General
Manager and above Grades is evaluated on the basis of
criteria laid down by DPE in which the achievement of MOU
targets as approved by Administrative Ministry and DPE is
given due weightage.

CONCOR follows a robust Performance Management System
(PMS) in compliance with the DPE instructions for evaluation of
performance of its officials in Dy. General Manager and below
grade. Format for evaluation comprises broad parameters for
assessment of personal traits of the officials and contribution
towards performance of the organization. The Key Result
Areas (KRAs) are proposed by the appraisee and approved by
appraiser in the beginning of the year which is subject to mid¬
year review for further modification/improvement, if any. For
the payment of Performance Related Pay (PRP) as per DPE

guidelines/ instructions, the performance rating of an individual
officer is considered.

The Company follows the guidelines of Department of Public
Enterprises (DPE) on salary structure for Board Level Executives
and as well as Below Board Level Executives and Non¬
unionised Supervisors. These are adopted by CONCOR with the
approval of Board of Directors and Presidential directive issued
thereof by the Ministry. In respect of unionised workmen, salary
and allowances are settled through collective bargaining and
settlement thereof under Industrial Disputes Act 1947.

The Nomination and Remuneration Committee of the Board
had taken note of the remuneration policy of the company
and the procedure and policy for selection of the Directors,
Senior Management and their evaluation/remuneration and
also the evaluation criteria being followed for the evaluation of
Chairman/Directors by the Government, Ministry of Railways
(Government of India).

RELATED PARTY TRANSACTIONS:

The related party transactions that were entered into during the
year were on an arm’s length basis and were in the ordinary
course of business. Omnibus approval of the Audit & Ethics
Committee is being taken for the related party transactions
which are of foreseen and repetitive nature. The transactions
entered into pursuant to the omnibus approval so granted are
placed before the Audit & Ethics Committee and the Board of
Directors on a quarterly basis. The policy on material related
party transactions, as approved by the Board has been uploaded
on the Company’s website at https://www.concorindia.co.in/
assets/pdf/CONCOR Policy MRPT.pdf. Though there are no
materially significant related party transactions entered by the
Company, the particulars as required under section 134(3) of
the Companies Act 2013 are as per Annexure-E to this report.

SECRETARIAL AUDIT:

Pursuant to the provisions of Section 204 of the Companies Act,
2013 and The Companies (Appointment and Remuneration of
Managerial Personnel) Rules, 2014, the Company has appointed
M/s Amit Agrawal & Associates, a firm of Company Secretaries
in Practice to undertake the Secretarial Audit of the Company.
The Secretarial Audit Report from the auditor is annexed as
Annexure-F to this report.

The Secretarial Auditor as well as the Auditor who has given
Corporate Governance Compliance certificate had given
observations in their report regarding matters related to
composition of Board of Directors i.e. not having adequate
number of independent directors on its Board during the
year and non-composition of Board committees along with
appointment of one woman Independent Director for part of the
year as per applicable provisions. The remarks of the directors on
the same are that the Director including independent directors
in the Company are appointed by President of India, through
Ministry of Railways, Government of India. The Company has
regularly requested Ministry of Railways, Government of India
for appointment of requisite number of independent directors

on its Board. Further, on the matters of observations of the
Secretarial Auditors regarding imposition of fines by the Stock
Exchanges, the matters in which fines were imposed, its period,
status along with management’s remarks on same in detail have
been provided in the enclosed Corporate Governance Report
forming part of this report.

OTHER DISCLOSURES:

A copy of the annual return is placed on the website of the
company at www.concorindia.co.in. In addition, statement
pursuant to Section 129 of the Companies Act, 2013 (AOC-
1) relating to Subsidiary Companies and Joint Ventures is as
per Annexure-G.

PARTICULARS OF LOANS, GUARANTEES AND
INVESTMENTS:

During the year, your Company has not made any investment
into its subsidiary.

The particulars of investments in Joint Venture/Subsidiary
Companies as on 31.03.2026 have been provided in the
Financial Statements of the year 2025-26. There are no loans
outstanding from the Joint Venture and Subsidiary Companies.
In CONCOR, there was no instance of one-time settlement for
any loan from the Bank(s)/Financial Institution(s) during the year.

ACCEPTANCE OF DEPOSITS:

Your Company has not accepted any deposits from public as
envisaged under Sections 73 to 76 of Companies Act, 2013
read with Companies (Acceptance of Deposit) Rules, 2014.

CREDIT RATING:

The Company’s credit rating for the Long term Non-Fund based
Bank Facilities (H800 crore) and Issuer Rating, as assigned by
M/s ICRA Limited is [ICRA] AAA (Stable) reaffirmed.

INSOLVENCY AND BANKRUPTCY CODE, 2016:

The details of application made or any proceeding pending
under the Insolvency and Bankruptcy Code, 2016 with their
status, are as under:

i)    Claims against the Company:

There are no cases filed against the Company with
National    Company    Law    Tribunal    (NCLT)    in which

claim has been made.

Two parties namely M/s. RCI Industries & Technology
(Claim amount NIL) filed cases in which CONCOR is not
the main respondent. As per company’s assessment, no
liability in these cases is being envisaged.

ii)    Claims by the Company:

There are no cases filed by the Company with
National    Company    Law    Tribunal    (NCLT)    in which

claim has been made.

MATERIAL CHANGES & COMMITMENTS:

There have been no material changes & commitments affecting
the financial position of the Company, which have occurred
between the end of the financial year and date of this report.

DISCLOSURE UNDER SEXUAL HARASSMENT
OF WOMEN AT WORKPLACE (PREVENTION,
PROHIBITION AND REDRESSAL) ACT, 2013:

Container Corporation of India Ltd. (CONCOR) complies with the
provisions of the Sexual Harassment of Women at Workplace
(Prevention, Prohibition and Redressal) Act, 2013 and an Internal
Compliant Committee has been constituted under the Act.

Container Corporation of India Ltd. (CONCOR) prohibits any
kind of Act of Sexual Harassment at Work Place and included
the acts amounting to Sexual Harassment at Workplace in its
Conduct Rules and Certified Standing Orders and Discipline
& Appeal Rules so as to prohibit any such Act. CONCOR has
an Internal Complaints Committee to receive and investigate
complaints related to "Sexual harassment at workplace"
following the guidelines issued by Hon'ble Supreme Court of
India in "Visakha Vs. State of Rajasthan".

The ‘Internal Complaints Committee’ consists of four members
at the senior level including one external female member.
CONCOR has 156 female employees out of total 1,238
employees. The company has created a conducive work
environment free from any kind of harassment and details for
the year 2025-26 are as below:

(a)    number of complaints of sexual harassment received
in the year : Nil

(b)    number of complaints disposed off during the year : Nil

(c)    number of cases pending for more than ninety days : Nil

CEO & CFO CERTIFICATION:

Pursuant to provisions of Regulation 17(8) of the SEBI (LODR)
Regulations, certificate for the year under review from Shri
Sanjay Swarup, Chairman and Managing Director and Shri Vivek
Gupta, Director (Finance) & CFO was placed before the Board
of Directors of the Company at its meeting held on 25.05.2026.
A copy of the said certificate on the financial statements for the
financial year ended 31^st March, 2026 is as per Annexure-H.

BUSINESS RESPONSIBILITY & SUSTAINABILITY
REPORT (BRSR):

In terms of SEBI (LODR) Regulations, for describing the
initiatives taken by the companies from Environmental, Social
and Governance (ESG) perspective, it has been mandated that
the top 1,000 listed entities, based on market capitalisation to
include Business Responsibility & Sustainability Report (BRSR)
as part of the Annual Report. SEBI has provided the format for
BRSR reporting in which it has elaborated a disclosure framework
mapping Company's performance on the nine Principles and
Core elements. In this respect, a brief of actions on the ESG front

along with Business Responsibility & Sustainability Report are
at Annexure-I and Annexure-J respectively.

SEBI vide its circular SEBI/HO/CFD/CFD-SEC-2/P/CIR/2023/122
dated 12.07.2023, has mandated top 500 companies on the
basis of market capitalisation to obtain a reasonable assurance
on BRSR Core from FY 2025-26. Accordingly, your Company
has obtained the required certificate of Reasonable Assurance
from M/s The Energy and Resources Institute (TERI) and a copy
of the same is placed at Annexure-K.

CODE OF CONDUCT:

The Code of Conduct has been laid down for the Board Members
and senior management. A copy of the same is available on the
website of the Company.

Based on the affirmation received from Board Members and
Senior Management Personnel, it is hereby declared that all the
members of the Board and Senior Management Personnel have
affirmed compliance of Code of Conduct for the financial year
ended on 31.03.2026.

CONCLUSION:

Your Directors place on record their appreciation for the
esteemed Shareholders, Institutions, State Governments where
Company operates or is planning to expand its business and
all other agencies for reposing their faith, trust and confidence
in the Company.

Your Directors express their gratitude for co-operation, support
and guidance provided by Government of India, in particular
the Ministry of Railways, Customs, Ports and above all the
customers who have continued to patronize the services
provided by your Company.

Your Directors appreciate and acknowledge the suggestions
received from Auditors and Comptroller & Auditor General of
India and are grateful for their consistent support and guidance.

Your Directors would like to place on record their deep and
sincere appreciation for the dedication, hard work & valuable
contributions made by ‘Team CONCOR for the outstanding
performance during the year and they are looking forward with
confidence and commitment for a rewarding future ahead for
all stakeholders.

For and on behalf of the Board of Directors

sd/-

(Ajit Kumar Panda)

Date: 03.09.2026    Chairman & Managing Director

Place : New Delhi    DIN: 08221385

1

   MMLP Vizag, received First Import Container from Adani
Port for Customs Clearance at MMLP Vizag in May 2025.

2

   As part of its transition from being a Rail/Terminal
Operator to a full-fledged NVOCC, Sh. Sanjay Swarup,

3

   Under Indian Railway’s Joint Parcel Project - Rapid Cargo
Service (JPP-RCS), CONCOR flagged off its 1^st door-to-
door parcel service from Kankaria, Ahmedabad (KKF) to
Sankrail, Kolkata (SGTY) on 09.11.2025. This initiative
marked a paradigm shift, as CONCOR is no longer limited
to full-container or Rake-load Traffic.