Dear Members,
EASY TRIP PLANNERS LIMITED
Your directors have pleasure in presenting the 17 th Annual Report together with the
Audited Financial Statements (Standalone and Consolidated) of Accounts of your Company for
the Year ended 31 st March, 2025.
1. FINANCIAL RESULTS
In compliance with the provisions of the Companies Act, 2013 ('Act'), and SEBI (Listing
Obligations and Disclosure Requirements) Regulations, 2015 ('Listing Regulations') the
Company has prepared its standalone and consolidated financial statements as per Indian
Accounting Standards ('Ind AS') for the Financial Year ('FY') 2024-25. The standalone and
consolidated financial highlights of the Company's operations are as follows:
( million)
| Particular |
Standalone |
Consolidated |
|
2025 |
2024 |
2025 |
2024 |
| Revenue from Operations |
4,032.35 |
4,815.25 |
5,873.24 |
5,905.76 |
| Other Income |
199.55 |
179.91 |
159.26 |
185.05 |
| Total Income |
4,231.90 |
4,995.16 |
6,032.50 |
6,090.81 |
| Total Expenses |
2,856.93 |
2,669.03 |
4,602.68 |
3,940.18 |
| Profit/(Loss) before tax |
1,374.97 |
2,326.13 |
1,429.82 |
2,150.63 |
| Exceptional Items |
- |
724.31 |
- |
724.31 |
| Total Tax Expense |
354.97 |
409.86 |
343.26 |
391.66 |
| Net profit after tax before exceptional items (net of tax) |
1,020.00 |
1,733.97 |
1,086.56 |
1,576.67 |
| Profit/(Loss) for the year |
1,020.00 |
1,191.96 |
1,086.56 |
1,034.66 |
| Other comprehensive income/(loss) for the year, net of tax |
98.92 |
1.48 |
84.41 |
(2.96) |
| Total comprehensive Income of the year, net of tax |
1,118.92 |
1,193.44 |
1,170.97 |
1,031.70 |
| Total comprehensive income/(loss) for the year |
|
|
|
|
| attributable to: |
|
|
|
|
| Equity holders of the parent company |
1,118.92 |
1,193.44 |
1,157.89 |
1,028.09 |
| Non-controlling interests |
- |
- |
13.08 |
3.61 |
2. STATE OF AFFAIRS
During the financial year underreview, your Company has achieved a Standalone Revenue
from operations of
4,032.35 million as against 4,815.25 million in the previous year. Profit before
tax is 1,374.97 million as against 2,326.13 million for the previous year.
Total comprehensive income of the year is 1,118.92 million as against 1,193.44
million for the previous year.
During the financial year underreview, your Company has achieved a Consolidate Revenue
from operations of 5,873.24 million as against 5,905.76 million in the previous year.
Profit before tax is 1,429.82 million as against 2,150.63 million for the previous
year.
Total comprehensive income attributable to equity holders of the parent of the year is
1,157.89 million as against 1,028.09 million for the previous year.
OVERVIEW
EaseMyTrip commenced operations in 2008 by focusing on the B2B2C (business to business
to customer) distribution channel and providing travel agents access through their website
to book domestic travel airline tickets in order to cater to the offline travel market in
India. Subsequently, by leveraging their B2B2C channel, they commenced operations in the
B2C (business to customer) distribution channel in 2011 by primarily focusing on the
growing Indian middle class population's travel requirements. Consequently, due to their
presence in the B2B2C and B2C channels, they were able to commence operations in the B2E
(business to enterprise) distribution channel in 2013 with the aim of providing end-to-end
travel solutions to corporates. Their presence in 3 distinct distribution customer
channels provides them with a diversified base and wide distribution network.
As of March 31, 2025, the Company provided customers with access to more than 400
international and domestic airlines, more than 2.9 million hotels in India and
international jurisdictions, almost all the railway stations in India as well as bus
tickets and taxi rentals for major cities in India. Further, EaseMyTrip also had the
largest network of travel agents with 72,000+ registered travel agents across almost all
major cities in India as of March 31, 2025.
3. TRANSFER TO RESERVE
During the financial year under review, the Company had no outstanding Share Option
balances and did not transfer any amount to the General Reserve.
The total General Reserve stands at 2,493.16 million on standalone basis whereas
2,216.82 million on consolidated basis.
4. CHANGE IN THE NATURE OF BUSINESS
There has been no change in the nature of the business of the Company. Your Company
continues to be in the business of Travel and Travel related services, and is exploring
business opportunities in Hospitality,
Aviation, Insurance Broking Sector, EV Manufacturing and Foreign Exchange Money
Changer.
5. SHARE CAPITAL
As on March 31, 2025, the authorised share capital of the Company stood at
5,00,00,00,000/- (comprising of 5,00,00,00,000 equity shares of face value 1/- each). The
paid-up equity share capital as at March 31, 2025, was 3,54,40,81,236/- (comprising of
3,54,40,81,236 equity shares of face value 1/- each).
During the financial year under review, the
Company increased its authorised share capital from
2,50,00,00,000/- (Rupees Two Hundred Fifty Crore
Only), divided into 2,50,00,00,000 equity shares of 1/- each, to 5,00,00,00,000/-
(Rupees Five Hundred Crore Only), divided into 5,00,00,00,000 equity shares of 1/- each,
pursuant to member's Special Resolution dated November 14, 2025 passed through Postal
Ballot.
PREFERENTIAL ISSUE
During the financial year underreview, the Company has issued 12,84,47,034 equity
shares of 1/- each on a preferential basis, as approved by the members through Special
Resolution passed via postal ballot on January 07, 2025.
Subsequently, after the end of the financial year
March 31, 2025, the Company has allotted 9,27,71,952* equity shares of face value 1/-
each, fully paid-up, on a preferential basis at a price of 18.22 per equity share, which
includes a premium of 17.22 per share consideration of which has been received by way of
equity swap.
* Please refer to our Stock Exchange disclosure dated
April 12, 2025 and July 9, 2025.
BONUS ISSUE
During the financial year under review, the Company issued bonus equity shares of 1/-
(Rupee One Only) each to eligible members in the proportion of 1 (one) equity share for
every 1 (one) existing equity share held by them, as approved by the members through an
Ordinary Resolution passed via postal ballot on November 14, 2024.
Consequently, the paid-up share capital of the
Company increased from 1,77,20,40,618/- (comprising of 1,77,20,40,618 equity shares of
1/- each) to 3,54,40,81,236/- (comprising of 3,54,40,81,236 equity shares of 1/- each).
6. EQUITY SHARES WITH DIFFERENTIAL RIGHTS AND SWEAT EQUITY SHARES
The Company has not issued any equity shares with differential rights as to dividend,
voting, or otherwise, nor has it issued any sweat equity shares during the financial year
under review.
7. DIVIDEND
During the financial year under review, the Board has not recommended any dividend
DIVIDEND DISTRIBUTION POLICY
Pursuant to Regulation 43A of the Securities and
Exchange Board of India (Listing Obligations and
Disclosure Requirements) Regulations, 2015 ('SEBI Listing Regulations'), the Board of
the Company had formulated a Dividend Distribution Policy ('the Policy').
The Policy is available on the Company's website URL:
https://www.easemytrip.com/investor-pdf/Policy-for-Dividend-Distribution.pdf
8. EMPLOYEES STOCK OPTION PLAN (ESOP)
During the financial year underreview, the Company has not issued any Employee Stock
Options (ESOPs)
However, in compliance with the provisions of Section
62(1)(b) of the Companies Act, 2013, the Securities and Exchange Board of India (Share
Based Employee Benefits and Sweat Equity) Regulations, 2021, and other applicable
provisions, if any, the Company had approved the "Easy Trip Planners Employees Stock
Option Plan 2022" through Special Resolution passed by the members at the Annual
General Meeting held on August 30, 2022. The validity of the said ESOP Plan was further
extended by way of Special Resolution passed by the shareholders through Postal Ballot on
September 06, 2023.
9. QUALIFIED INSTITUTIONAL PLACEMENT
The Company has not issued any securities through Qualified Institutions Placement
(QIP) during financial year under review.
10. LISTING AT STOCK EXCHANGES
The Equity Shares of the Company are listed on BSE
Limited ("BSE") and National Stock Exchange of India
Limited ("NSE") (collectively referred to as ("Stock
Exchanges").
Further, trading in the Equity Shares was not suspended on the Stock Exchanges during
the financial year under review.
11. SUBSIDIARIES
(a) Consolidated Financial Statements
During the financial year underreview, the Board of Directors reviewed the affairs of
the Company's subsidiaries. The Consolidated Financial Statements of the Company for the
financial year 2024 25 have been prepared in accordance with the provisions of the
Companies Act, 2013 ("the Act") and applicable Indian Accounting Standards
(Ind AS). The Consolidated Audited Financial
Statements, together with the Auditors' Report, form part of this Annual Report. A
report on the performance and financial position of each subsidiary is included in the
Consolidated Financial
Statements and is provided in a separate section of this Annual Report.
Pursuant to the first provisoto Section 129(3) of the Act, read with Rule 5 and Rule
8(1) of the Companies (Accounts) Rules, 2014, the salient features of the financial
statements, including the performance and financial position of each subsidiary, are
disclosed in Form AOC-1, which is annexed as Annexure A to this Report.
Further, in accordance with the provisions of Section 136 of the Act, the Standalone
Audited Financial Statements, the Consolidated Audited Financial Statements, along with
relevant documents, and the separate audited financial statements of each subsidiary are
available on the Company's website at www.easemytrip.com.
(b) Incorporation/Acquisition of Subsidiaries during the financial year under review
As on March 31, 2025, the Company has 19 (Nineteen) Direct Subsidiaries and 2 Step-down
Subsidiaries within the meaning of Sections 2(87) of the Companies Act, 2013
("Act").
Further, the Company has incorporated following Subsidiary / Step-down subsidiary
Companies in
India and abroad namely:
n Easy Green Mobility Private Limited direct subsidiary of the Company; Easy
Trip Planners
Limited, Saudi Arabia direct subsidiary of the Company;
n Easy Trip Planners Do Brasil Ltda. direct subsidiary of the Company
n Ease My Trip Tours L.L.C step-down subsidiary of the Company and wholly owned
subsidiary of EaseMyTrip Middleeast DMCC; and
n Ease My Trip Holiday Homes L.L.C step-down subsidiary of the Company and
wholly owned subsidiary of EaseMyTrip Middleeast DMCC.
No company ceased to be the subsidiary, during the year under review.
There has been no material change in the nature of the business of the Company's
subsidiaries. The policy for determining material subsidiaries of the Company is available
on the Company's website URL: https://
www.easemytrip.com/investor-pdf/Policy-For-Determining-Material-Subsidiaries.pdf
12. SECRETARIAL STANDARDS
Pursuant to the provisions of Section 118 of the Companies Act, 2013, the Company has
complied with the applicable Secretarial Standards issued by the Institute of Company
Secretaries of India (ICSI) and notified by the Ministry of Corporate Affairs.
13. DEPOSITS
During the financial year under review, the Company has not accepted any deposits from
the public within the meaning of Section 73 of the Companies Act, 2013, read with the
Companies (Acceptance of Deposits) Rules, 2014. Further, the Company does not have any
unclaimed or unpaid matured deposits or any interest due thereon as on the date of this
Report.
14. DIRECTORS AND KEY MANAGERIAL PERSONNEL (KMP)
As on March 31, 2025, the following individuals were serving as Directors on the Board
of the Company and as Key
Managerial Personnel (KMPs):
| Sr. No. Name of the Directors |
DIN/PAN |
Designation |
| 1 Mr. Nishant Pitti |
02172265 |
Chairman & Whole Time Director |
| 2 Mr. Prashant Pitti |
02334082 |
Managing Director |
| 3 Mr. Rikant Pittie |
03136369 |
Chief Executive Officer & Whole Time Director |
| 4 Mr. Satya Prakash |
08489173 |
Independent Director |
| 5 Justice Usha Mehra (Retired) |
03361078 |
Independent Director |
| 6 Mr. Vinod Kumar Tripathi |
00798632 |
Independent Director |
| 7 Mr. Ashish Kumar Bansal |
ACSPB5909M |
Chief Financial Officer |
| 8. Mrs. Priyanka Tiwari |
ASWPT6744Q |
Group Company Secretary and Chief Compliance Officer |
Designation n Mr. Nishant Pitti (DIN: 02172265) was re-appointed as the
Whole-time Director of the Company for a term of five year with effect from May 10, 2024
till
May 09, 2029. n Mr. Rikant Pittie (DIN: 03136369) was re-appointed as the
Whole-time Directors of the Company for a term of five till June 12, 2029. n Mr.
Nishant Pitti (DIN: 02172265) resigned from the position of the Chief Executive Officer
(CEO) of the Company with effect from January 01, 2025. n Mr. Rikant Pittie (DIN:
03136369) was appointed as the Chief Executive Officer (CEO) of the Company with effect
from January 01, 2025 and was designated as the Key Managerial Personnel (KMP) under the
provisions of the Companies Act, 2013 and Listing Regulations.
In accordance with provisions of the Act and the Articles of Association of the
Company, Mr. Rikant Pittie,
Executive Director (DIN: 03136369)is liable to retire by rotation at this AGM and is
eligible for re-appointment.
Profile and other information ofMr. Rikant Pittie as required under Regulation 26,
Regulation 36 of SEBI (Listing Obligations & Disclosure Requirements) Regulations,
2015 and Secretarial Standard - 2 is given as an Annexure to the Notice convening this
Annual
General Meeting. year with effect from June 13, 2024
After the closure of Financial Year, the Company has appointed Mrs. Ruchi Ghanashyam
(DIN: 09148241) and Mrs. Neena Kumar (DIN: 10551695) as Independent
Directors of the Company w.e.f. 1 st July, 2025 for a term of 5 years through Special
Resolution passed by the shareholders on 30 th June, 2025 through Postal Ballot.
Further, Mr. Satya Prakash and Justice Usha Mehra
(retired) have completed their second term as Independent Director(s) on 2 nd July,
2025.
Mr. Prashant Pitti ( DIN: 02334082 ) resigned from the position of Managing Director of
the Company with effect from August 29, 2025.
Mr. Nishant Pitti (DIN: 02172265) is appointed as Chairman & Managing Director with
effect from
August 29, 2025 subject to shareholders' approval.
Mr. Vikas Bansal (DIN:11267665) is appointed as Whole-time Director with effect from
August 29, 2025 subject to shareholders' approval.
15. INDEPENDENT DIRECTORS' DECLARATION
As on March 31, 2025, the following individuals served as Independent Directors on the
Board of the Company:
1. Mr. Satya Prakash
2. Justice Usha Mehra (Retired)
3. Mr. Vinod Kumar Tripathi
During the financial year under review, there were no appointments or resignations of
Independent Directors.
Pursuant to the provisions of Section 149 of the Companies Act, 2013, and Regulation 25
of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
("Listing Regulations"), the Independent Directors have submitted declarations
confirmingthat they meet the criteria of independence as prescribed under Section 149(6)
of the Act, read with the applicable rules, and Regulation 16(1)(b) of the Listing
Regulations.
Further, in accordance with Regulation 25(8) of the Listing Regulations, the
Independent Directors have confirmed that they are not aware of any circumstance or
situation which exists or may reasonably be anticipated that could impair or impact their
ability to discharge their duties with objective independent judgment and without any
external influence.
Additionally, all Independent Directors have submitted declarations of compliance with
Rule 6(3) of the Companies (Appointment and Qualification
Directors) Rules, 2014, as amended by the Ministry of
Corporate Affairs (MCA) Notification dated October 22,
2019, pertaining to their enrollment in the Independent Directors' Data Bank maintained
by the MCA.
In terms of the provisions of the Companies Act, 2013, a meeting of the Independent
Directors was held on March 07, 2025, which was attended by all Independent Directors.
In compliance with the requirements under the Listing Regulations, the Company has
established a structured framework for the Familiarization Programme for
Independent Directors. This programme is aimed at familiarizing them with their roles,
rights, and responsibilities as Directors, the nature of the industry in which the Company
operates, the Company's business model, and other relevant matters. Details of the
familiarization programmes conducted during the financialyear under review are provided in
the Corporate
Governance Report and are also available on the Company's website at
https://www.easemytrip.com/
investor-pdf/Familiarization-Program-for-Independent-Directors.pdf.
16. BOARD EVALUATION
Pursuant to the provisions of the Companies Act, 2013 and the SEBI (Listing Obligations
and Disclosure Requirements) Regulations, 2015, the Board of Directors, at its meeting
held on 30 th May, 2025, carried out the annual performance evaluation of the Board as a
whole, individual Directors, and the functioning of its committees, including the Audit
Committee, Nomination and Remuneration Committee, and other Committees of the Board.
The methodology and criteria for the evaluation, along with the outcomes, are detailed
in the Corporate Governance Report, which forms part of this Annual
Report. The link to the board evaluation policy is
https://www.easemytrip.com/investor-pdf/2023/ Board-Evaluation-Policy.pdf.
17. COMMITTEES OF BOARD
The Company has constituted the following Committees as mandated under the Companies
Act, 2013 and the SEBI (Listing Obligations and Disclosure Requirements) Regulations,
2015, along with the applicable rules framed thereunder:
(A) Audit Committee;
(B) Nomination and Remuneration Committee (NRC); (C) Stakeholders Relationship
Committee (SRC); (D) Risk Management Committee (RMC); (E) Corporate Social Responsibility
Committee (CSR);
(F) Initial Public Offer Committee (IPO); (G) Qualified Institutional Placement
Committee
(QIP); and
(H) Sexual Harassment Committee (SHC).
The detailed composition, terms of reference, and functioning of these Committees are
provided in the
Corporate Governance Report, which forms an integral part of this Annual Report.
18. VIGIL MECHANISM AND WHISTLE BLOWER
POLICY:
Pursuant to the provisions of Section 177(9) of the Act, the Board of Directors of the
Company has framed the igil Mechanism / Whistle Blower Policy for Directors and Employees
of the Company. The Company has adopted a Whistle Blower Policy, as part of Vigil
mechanism to provide appropriate avenues to the Directors and Employees to bring to the
attention of the management any issue which is perceived to be in the violation of or in
conflict with the business interest of the company. During the year, there have been no
complaints received.
The policy also provides access to the Chairperson of the Audit Committee under certain
circumstances.
During the financial year under review, no complaints were received under the Whistle
Blower Policy.
The Whistle Blower Policy is available on the Company's website and can be accessed at:
https:// www.easemytrip.com/investor-pdf/WHISTLE-BLOWER-POLICY_1.pdf
19. NOMINATION CUM REMUNERATION POLICY
For the purpose of selecting Directors, Key Managerial Personnel (KMP), and Senior
Management personnel, the Nomination and Remuneration Committee evaluates and identifies
individuals of integrity who possess the requisite qualifications, experience, and
leadership competencies appropriate for the respective roles. The Committee also ensures
that the candidates meet the eligibility criteria with respect to age, educational
background, and other requirements as prescribed under the Companies Act, 2013 and other
applicable laws and regulations.
Pursuant to the provision of Section 178 of the Companies Act, 2013 and the
recommendations of the Nomination and Remuneration Committee, the Board has adopted a
comprehensive Nomination and Remuneration Policy, which outlines the guiding principles
for selection, appointment, and determination of remuneration for Directors, KMPs, and
Senior Management personnel of the Company.
The salient features of the Policy as approved by the Board and amended from time to
time are as follows: i. Appointment of the Directors and Key Managerial Personnel of the
Company. ii. Fixation of the remuneration of the Directors, Key
Managerial Personnel and other employees of the Company. iii. Formulate a criterion for
determining qualifications, positive attributes and independence of a director. iv.
Specify methodology for effective evaluation of performance of Board/committees of the
Board and review the terms of appointment of Independent Directors on the basis of the
report of performance evaluation of the Independent Directors. v. To ensure a transparent
nomination process for directors with the diversity of thought, experience, knowledge,
perspective and gender in the Board. vi. Undertake any other matters as the Board may
decide from time to time.
The Nomination and Remuneration Policy of the
Company is available on the website and can be accessed at the following URL:
https://www.easemytrip.com/ investor-pdf/Nomination-and -Remuneration-Policy-20mar.pdf
20. WEB LINK OF ANNUAL RETURN
The Annual Return of the Company as on the financial year ended on March 31, 2025 in
terms of Section 92 and Section 134 of the Act is available on the website of the Company
at: https://www.easemytrip.com/ investor-relations.html expertise,
21. IEPF
During the financial year underreview, the Company was not required to transfer any
funds and equity shares to the investor education and protection fund as per the
provisions of Section 125 of the Act.
The details of unpaid/ uncashed dividend lying in the unpaid dividend account up to the
year are available on the website of the company at: https://
www.easemytrip.com/investor-relations.html
22. AUDIT REPORT AND AUDITORS STATUTORY AUDITORS
At the 16 th Annual General Meeting held on September 28, 2024, the Shareholders
approved the appointment of M/s. Walker Chandiok & Co. LLP, Chartered Accountants
(Firm Registration No.
001076N/N500013) as the Statutory Auditors of the
Company for a term of five (5) consecutive years, to hold office from the conclusion of
the 16 th Annual General Meeting until the conclusion of the 21 st Annual General Meeting
to be held in the year 2029.
The Statutory Auditors have confirmed their eligibility to continue as Auditors of the
Company in accordance with the provisions of Section 141 of the Companies Act, 2013 and
the Rules framed thereunder. In accordance with the requirements of the SEBI (Listing
Obligations and Disclosure Requirements) Regulations, 2015, they have also confirmed that
they hold a valid certificate issued by the Peer Review Board of the Institute of
Chartered Accountants of India.
The report of the Statutory Auditor forms part of this Integrated Report and Annual
Accounts
2024-25. The said report does not contain any qualification, reservation, adverse
remark or disclaimer However, the observations of the Statutory Auditors in their report
read together with the Notes on Accounts are self-explanatory and therefore, do not call
for any further explanation.
SECRETARIAL AUDITOR
In terms of Section 204 of the Act and the Rules made there under, M/s Sharma and
Trivedi LLP, Company
Secretaries, Practicing Company Secretaries, were appointed as the Secretarial Auditors
of the Company for the financial year 2024-25.
The Secretarial Auditors have submitted their report, confirming that the Company has
complied with all applicable provisions of corporate laws. The report does not contain any
qualification, reservation, disclaimer, adverse remark.
The Secretarial Audit Report and the Secretarial Compliance Report are annexed to this
Report as Annexure B.
Also, in accordance with the provisions of Section 204 of the Companies Act, 2013 and
the rules made thereunder and Regulation 24A of the SEBI Listing Regulations, the Board of
the Company based on the recommendation of Audit Committee approved the appointment of
M/s. SMD & Co, Company Secretaries,
(Unique Identification Number: S2023HR924000), a peer reviewed firm of Company
Secretaries in Practice as the Secretarial Auditors of the Company for a term of five (5)
to hold office from the conclusion of the
17 th Annual General Meeting until the conclusion of the 22 nd Annual General Meeting
to be held in the year 2030, subject to approval of the Shareholders of the Company at the
ensuing AGM.
INTERNAL AUDITOR
The Company appointed M/s. Crowe Advisory Services (India) LLP (LLPIN: AAO-5909),
Chartered Accountants,
Mumbai, as the Internal Auditor of the Company for the financial year 2024 25 to carry
out the internal audit of the Company in accordance with the provisions of Section 138 of
the Companies Act, 2013 and the rules made thereunder.
23. COST RECORDS AND AUDIT
The maintenance of cost records and the requirement . of cost audit as prescribed under
the provisions of Section 148(1) of the Companies Act, 2013, are not applicable to the
business activities carried out by the Company.
24. DETAILS OF FRAUD REPORTED BY AUDITOR
During the financial year under review, neither the
Statutory Auditors nor the Secretarial Auditor have reported any instances of fraud to
the Audit Committee under Section 143(12) of the Companies Act, 2013, involving officers
or employees of the Company, which would require disclosure in the Board's Report.
25. PARTICULARS OF LOANS, GUARANTEES OR INVESTMENT
The details of loans, guarantees and investments covered under the provisions of
Section 186 of the
Companies Act, 2013 are provided in the financial statements for the year ended March
31, 2025, which form part of this Annual Report.
26. CONTRACTS AND ARRANGEMENTS WITH RELATED PARTIES
During the financial year underreview, all contracts, arrangements, or transactions
entered into by the Company with related parties were on an arm's length basis and in the
ordinary course of business, and were in compliance with the applicable provisions of the
Companies Act, 2013.
Form AOC-2, pursuant to Section 134(3)(h) of the Companies Act, 2013 read with Rule
8(2) of the Companies (Accounts) Rules, 2014, is provided in
Annexure-C to this Report.
The Company has implemented robust processes and procedures for the identification and
monitoring related parties and related party transactions. The Policy on Related Party
Transactions, which ensures proper reporting, approval, and disclosure procedures for such
transactions, is available on the Company's website at:
https://www.easemytrip.com/investor-pdf/2023/ Related-Party-Transactions-Policy.pdf
27. MATERIAL CHANGES AND COMMITMENTS, addressing IF
ANY, AFFECTING THE FINANCIAL POSITION OF THE COMPANY WHICH HAVE OCCURRED BETWEEN THE
END OF THE FINANCIAL YEAR OF THE COMPANY TO WHICH THE FINANCIAL STATEMENTS RELATE AND THE
DATE OF THE REPORT
There have been no significantmaterial changes and commitments affecting the financial
position of Company between the end of the financial year which the financial statements
relate and the date of this Report.
28. CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNINGS
& OUTGO
The information required under Section 134(3)(m) of the Companies Act, 2013, read with
Rule 8(3) of the Companies (Accounts) Rules, 2014, relating to conservation of energy,
technology absorption, and foreign exchange earnings and outgo is provided in Annexure-D
and forms part of this Report.
The Company, being engaged in the Travel and Tourism industry, does not undertake
activities involving and significant development expenditure. Accordingly, the particulars
prescribed under the Companies (Accounts) Rules, 2014 in respect of conservation of energy
and technology absorption are not applicable to the Company.
However, the Company continues to adopt measures for efficient energy usage and strives
to optimize energy consumption across its operations.
29. RISK MANAGEMENT POLICY
Pursuant to the provisions of Section 134(3)(n) of the Companies Act, 2013, the Company
has adopted appropriate measures for the development and implementation of a Risk
Management System.
The system is designed after identifying elements of risk which, in the opinion of the
Board, may pose a threat to the Company's continued existence.
The Company has established a comprehensive Risk Management process involving risk
identification, assessment and prioritization, followed by coordinated efforts to
mitigate, monitor and manage the impact or likelihood of adverse events, while also
seeking to maximize potential opportunities.
The Risk Management framework is periodically reviewed by the Board of Directors to
ensure that executive management is effectively through a structured and well-defined
approach. Identified major risks are addressed on an ongoing basis through appropriate
mitigation strategies.
The Company's Risk Management Policy is available on its website at:
https://www.easemytrip.com/ investor-pdf/2022/Risk-Management-Policy-20-12-22. pdf?v=1
30. CORPORATE SOCIAL RESPONSIBILITY (CSR)
The Company has implemented its CSR initiatives through the EaseMyTrip Foundation,
focusing on a broad spectrum of activities including environmental sustainability,
protection of national heritage, promotion of art and culture (such as restoration of
historical buildings and sites), healthcare support, promotion of education - particularly
for girls by providing essential amenities, animal welfare, and the training of
sportspersons.
Your Company regards Corporate Social Responsibility as an integral part of its
business philosophy. It aims to operate in a sustainable manner that contributes
positively to society and aligns with stakeholder interests. In accordance with Section
135 and Schedule VII of the Companies Act, 2013, the Board of Directors has constituted a
CSR Committee, which has formulated a comprehensive CSR Policy.
This policy is available on the Company's website at:
https://www.easemytrip.com/investor-pdf/2024/ Corporate-Social-Responsibility-Policy.pdf
For the FY 2024 25, the CSR budget was 3,35,00,426/-, out of which the Company spent
1,44,08,139/- on CSR activities. The Annual Report on CSR activities for the year ended
March 31, 2025, along with the composition of the CSR Committee, is provided in Annexure E
to this
Report.
31. MANAGEMENT'S DISCUSSION AND ANALYSIS
In accordance with the provisions of Regulation 34(2) of the SEBI (Listing Obligations
and Disclosure Requirements) Regulations, 2015, the Management Discussion and Analysis
Report forms an integral part of this Integrated Annual Report.
32. CORPORATE GOVERNANCE REPORT
Pursuant to the provisions of Regulation 34(3) read with Schedule V of the SEBI
(Listing Obligations and Disclosure Requirements) Regulations, 2015, the
Report on Corporate Governance for the financial year 2024-25 forms an integral part of
this Integrated Annual Report.
33. BOARD POLICIES
The details of the policies approved and adopted by the Board as required under the Act
and Securities and
Exchange Board of India (SEBI) regulations are provided in Annexure F to the Board's
report.
34. NUMBER OF MEETINGS OF THE BOARD
The Board of Directors met fourteen (14) times during the financial year under review.
The details of these meetings, including the dates and attendance of Directors, are
provided in the Corporate Governance Report, which forms part of this Integrated Annual
Report. The maximum interval between any two consecutive Board meetings did not exceed
120 days, thereby complying with the requirements prescribed under the Companies Act,
2013.
35. BUSINESS RESPONSIBILITY AND
SUSTAINABILITY REPORT (BRSR)
As mandated under the SEBI (Listing Obligations and Disclosure Requirements)
Regulations, 2015, the Business Responsibility and Sustainability Report (BRSR), detailing
the initiatives undertaken by the Company from an Environmental, Social, and Governance
(ESG) perspective, forms an integral part of this Annual Report.
36. PARTICULARS OF EMPLOYEES
Pursuant to Section 197 of the Companies Act, 2013, read with Rule 5(1) of the
Companies (Appointment and Remuneration of Managerial Personnel) Rules,
2014, the requisite details are provided in Annexure G to this Report.
Further, in accordance with Rule 5(2) of the said Rules, a statement containing the
names and other particulars of the top ten employees in terms of remuneration drawn, as
well as details of employees receiving remuneration in excess of the prescribed limits, is
not applicable in this financial year.
37 INTERNAL FINANCIAL CONTROL & ITS ADEQUACY
The Management of the Company engaged M/s. ADMS &
Co., Chartered Accountants, to assist in the updating of the Risk Control Matrix
("RCM") and to carry out the necessary testing of internal controls. The RCM,
along with the results of the control testing, was reviewed and adopted by the Management
and shared with the Statutory Auditors for their independent assessment.
The Statutory Auditors have reviewed the RCM and testing outcomes and provided their
observations, which were duly considered and adopted by the Board.
The implementation of the RCM is expected to enhance the effectiveness of the Company's
internal control environment and contribute positively to the long-term growth of the
Company by identifying and eliminating operational inefficiencies.
During the financial year underreview, the internal controls were evaluated and no
material weaknesses in the design or operational effectiveness of such controls were
reported. Based on the review and evaluation, the Board is of the opinion that the
Company's internal financial controls are adequate and operating effectively.
38. DETAILS OF SIGNIFICANT AND MATERIAL ORDERS PASSED BY THE REGULATORS, COURTS AND
TRIBUNALS or During the financial year under review, no significant material orders
were passed by any regulators, courts, or tribunals which would impact the going concern
status of the Company or its future operations.
39. PREVENTION OF SEXUAL HARASSMENT AT WORKPLACE
The Company has implemented a Prevention of Sexual Harassment (POSH) Policy in
accordance with the provisions of "The Sexual Harassment of Women at the
Workplace (Prevention, Prohibition and Redressal) Act,
2013" and the Rules framed thereunder. The policy is applicable to all employees
across the Company and its subsidiaries, including permanent, contractual, temporary, and
trainee staff.
The Company is committed to providing a safe, secure, and dignified work environment
that is free from any form of discrimination or harassment. To promote awareness and
ensure compliance, regular training and sensitization programmes are conducted for
employees.
In compliance with the Act, the Company has constituted duly formed Internal Complaints
Committees (ICC) at all operational units to address any grievances or complaints
pertaining to sexual harassment. The Company has complied with all statutory requirements
relating to the constitution and functioning of the ICC.
No complaints pertaining to sexual harassment were received by the Internal Complaints
Committees.
40. COMPLIANCE WITH THE PROVISIONS OF MATERNITY BENEFIT ACT 1961
During the year under review, the Company has made compliance with the applicable
provisions of the
Maternity Benefit Act 1961
41. DETAILS OF APPLICATION MADE OR ANY PROCEEDING PENDING UNDER THE INSOLVENCY AND
BANKRUPTCY CODE, 2016
During the financial year under review, no application was made by the Company, nor is
any proceeding pending against the Company under the Insolvency and Bankruptcy Code, 2016.
42. CYBER SECURITY
During the year, Cyber Security and related risks were reviewed by the Risk Management
Committee and necessary actions were taken to mitigate any risk associated with Cyber
Security.
43. OTHER DISCLOSURES
During the financial year under review, disclosure the pertaining to the details of
differences amount of valuation conducted at the time of one-time settlement and the
valuation carried out for obtaining loans from banks or financial institutions, along with
the reasons thereof, is not applicable to the Company.
44. DIRECTOR'S RESPONSIBILITY STATEMENT
Pursuant to Section 134(5) of the Companies Act, 2013, the Directors, to the best of
their knowledge and belief, confirm that: a) in the preparation of the annual accounts for
the year ended March 31, 2025, the applicable accounting standards had been followed,
along with proper explanation relating to material departure(s), if any; b) the Directors
have selected such accounting policies and applied them consistently and made judgements
and estimates that are reasonable and prudent, so as to give a true and fair view of the
state of affairs of the Company as at the end of the financial year March 31, 2025 and of
the profit of the Company for that period; c) the Directors sufficient have taken proper
and care for the maintenance of adequate accounting records in accordance with the
provisions of this Act for safeguarding the assets of the Company and for preventing and
detecting fraud and other irregularities; d) the Directors have prepared the annual
accounts on a 'going concern' basis; e) the Directors have laid down internal financial
controls to be followed by the Company and such internal financial controls are adequate
and are operating effectively; and f) 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.
ACKNOWLEDGMENT
The Board of Directors wishes to place on record its deep and sincere appreciation to
the Company's bankers, business associates, consultants, and various Government
authorities for their steadfast support and cooperation extended to the Company's
operations during the financial year under review. The Board also conveys its profound
gratitude to the esteemed shareholders for their enduring trust, confidence, and
encouragement, which continue to inspire and strengthen the Company's journey towards
sustained growth and excellence.
For and on behalf of the Board
Easy Trip Planners Limited
|
Nishant Pitti |
| Date: August 29, 2025 |
Chairman |
| Place: Delhi |
DIN: 02172265 |
|