August 13, 2018

BSE Limited Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai -400 001. Tel: 022 - 2272 1233 / 34 Fax: 022 - 2272 2131/1072/ 2037 I 2061 / 41 Email: corp.relations@bseindia.com

corp .com plia nce@bseindia.com

Scrip Code: 532345

Dear Sir,

Sub: - Outcome of Board Meeting - reg.

National Stock Exchange of India Ltd. Exchange Plaza, Bandra Kurla Complex, Bandra (E), Mumbai - 400 051 Tel: 022 - 2659 8235 I 36 I 452 Fax: 022 - 2659 8237 I 38 Email: cmlist@nse.co.in

Scrip Code: GATI

This is to inform you that the Board of Directors of the company at its meeting held today i.e. on Monday, Aug 13, 2018, inter-alia approved the following:

1) Pursuant to regulation 33 of SEBI (LODR) Regulation, 2015, the unaudited financial results (Standalone & Consolidated) for the quarter ended June 30, 2018.

2) Allotment of 87,000 equity shares of Rs.2/- each on exercise of stock options under Employee Stock Option Scheme (ESOS) of the Company. Consequently, the Equity Share Capital of the Company has increased from 10,84,55,137 Equity Shares of Rs.2/- each aggregating to Rs. 21,69,10,274/- to 10,85,42,137 Equity shares of Rs.2/- each aggregating to Rs. 21,70,84,274/-

Please find enclosed copy of the Unaudited financial results (Standalone & Consolidated) for the quarter ended June 30, 2018, along with the Limited Review Report.

Further, we also wish to inform you that the Board of Directors of the company at its meeting held on April 26, 2018, advised management to look for inducting a new Strategic and/or financial Partner to reposition Gati as a global leader in the logistic space. In this regard, the management is still evaluating the opportunities as per the direction given by the Board of Directors and in case of any material development, it will be notified in line with the requirement of Regulation 30 of the SEBI (LODR) Regulations, 2015.

The meeting of Board of Directors was commenced at 11.30 a.m. and concluded at 07:45 p.m.

This is for you kind information and records.

Thanking you,

Yours faithfu!ly; For Gatl Limited

Corporate & Regd. Office: Gati Limited Plot. No.20, Survey No.12, Kothaguda, Kondapur, Hyderabad - 500 084, Telangana, India. Tel.: (040) 71204284, Fax: (040) 23112318

investor.services@gati.com I CIN:L63011TGl995PLC020121 I Toll Free No.:1860 123 4284 I www.gati.com

Sing Iii ~ Co. Chartered Accountants

161, SARAT BOSE ROAD, KOLKATA-700 026, (INDIA)

© : +91 (0)33-2419 6000/01/02 • E-mail : kolkata@singhico.com •Website : www.singhico.com

Independent Auditor's Report on Quarterly Standalone Financial Results GATI Limited pursuant to regulation 33 of SEBI (listing Obligations and Disclosure Requirements) Regulation, 2015

To, The Board of Directors of Gatl limited

1. We have reviewed the accompanylng statement of Unaudited Standalone Financial Results of Gati limited ('the Company'), for the quarter ended June 30, 2018 ('the Statement'), being submitted by the Company pursuant to the requirements of Regulation of 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with SEBI Circular No. CIR/CFD/FAC/62/2016 dated July 5, 2016.

2. The preparation of the Statement in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34 "Interim Financial Reporting" (Ind AS 34) prescribed under Section 133 of the Companies Act, 2013 read with Rule 3 of Companies (Indian Accounting Standards) Rules. 2015, as amended, is the responsibility of the Company's management and has been approved by the .Board of Directors of the Company. Our responslblllty ls to Issue a report on the Statement based on our review.

3. We conducted our review In accordance with the Standard on Review Engagement (SRE} 2410, 'Review of Interim Financial Information performed by the Independent Auditor of the Entity' issued by the Institute of Chartered Accountants of lnd!a. This standard requires that we plan and perform the review to obtain moderate assurance as to whether the financial statements are free of material misstatement.

4. A review is limited prlmarily to Inquiries of company personnel and analytical procedures applied to financial data and thus provide less assurance than an audit. We have not performed an audit and accordingly, we do not express an audit opinion.

5. Attention is drawn to the fact that the Company has given operational advances to few parties aggregating Rs. 2015.35 lakhs in earlier years, which is long overdue and the full recoverability of which is doubtful. No impairment allowance for potential collectabllity has been recognized against above advances. Based on the rnformation received from the management of the Company regarding the assumptions used in assessing the recoverability of this amount, we were unable to determine the impact on the financial results, of a potential adjustment for Impairment that might have been necessary in order to present the balance at its estimated recoverable value.

Our opinion Is qualified In the above matter.

6. Further, without qualifying our opinion, we draw your attention to matter that loan given to a subsidiary amounting to Rs. 2000.76 lakhsln earller years, which is outstanding as at the reporting date. The management Is confident of recovery of the amount in due course and no provision is considered necessary for any possible losses that may arise in this behalf.

'h.'rKl.§6·· .. :1 ~ '\ . . '

. '. .'!

Sing Iii ct(, Co. Chartered Accountants

....... contd.

7. Based on our audit conducted as above, except for the Indeterminate effect of the matter, as described in paragraph 5 above, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with the recognition and measurement prlnclples lald down in the applicable Indian Accounting Standards ('ind AS') specified under Section 133 of the Companies Act, 2013, read with relevant rules issued thereunder and other recognized accounting practices and policies has not disclosed the Information required to be disclosed in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with SEBI Circular No. CIR/CFD/FAC/62/2016 dated July S, 2016, Including the manner in which it Is to be disclosed, or It contains any material misstatement.

Place: Kolkata Date:131

h day of August, 2018

Partner Membership Number: 066274

' GA1TLll\1lTED

·crN: tG301.1i,tc.ti99si,.Lto2tii~~ .

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2. The .. ~ompill')y Is. matoly'etigaged lrtti:.:Corrirnerce logfstlcs •. lntegra-te:d: f'relght forwarding, runnlng·~of' Fuel Stations. · · · · - ·

s·. t>t1tln~the;~urr.e~t. qu~rter~~~he 1.ncome'lax1~ppell,at~ Trib~nal bas;pas~ed.'the Order In favour: ofthe Company In 1hts: ,matt~r fl>t Asse:s-sme.nt Ye~r :2008_-09, by ~l~fJ')'!s~lrig ttre ·c{ep.i;i~ment app~al. Cot1~equently,_tfit! .. t:oi'flea.ny~11~· re,celve·<i ltltei'esr 9'fo.Rs .. 321 la~hs; wl:\lcl\ nas~.l)een.'.lhclude.d: tn-·other rncome~lt:ls.notJ<nown whetherthe,department has.gone on a r.efer.ence fo High tourt.

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6~, P'urs.uant to ... the,brder.,of:ine Hom ·bre..Hl$h:<~ourt·of:New. Cfolhl lman.'<lpp-eal~pr.eferredb,y Air- India ,,an ~rno.u:nt Of ~~2;200:, fo~h~ wa.s;;g)ve{1 ph· ac:ccjµti'tby: Al.r .lndi~i · p:eo~i.tfg"~fJji;i.~i~tjol) of qc»S$ /,ppe'~is ~f!.for.~ th'e:PJY1$tQl'.i e·e.nab;~nh~:saTd:JioJ.Pnte Hl~.o Coli'rt atN.eW'O.en:u. (llece$far:'(·a:dj\.ls'tl'.ne.rits,Jfany; wltr be ma cf e-.ln;the.~accounts_oµ,on:the-decf sf on. otthe F.fon 'ble.t-f'igh;Cburt:of New'Defhl..

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:10. -Fi~ures of 'tfie -previous ·guar:ters/perfo·dS: have. been regroup·ed/ re~arran-ged· where'ler corisl9ered 11ece.~s·aty.

PJace:.lilew, Delhi' D.ate: .. Au,gust:rta.2n1s

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Sing/ii~ Co. Chartered Accountants

161, SARAT BOSE ROAD, KOLKATA-700 026, (INDIA) !{): +91(0)33-2419 6000/01102 •E-mail: kolkata@slnghlco.com •Website: www.singhico.com

MllMRAI

Independent Auditor's Report on Quart'erly Consolidated Results of Gatl Limited pursuant to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulation, 2015

To, The Board of Directors of Gatl Limited

1. We have reviewed the accompanying unaudited statement of consolldated financial results ('CFS statement') of

Gatl Limited ('the Company'), its Subsidiaries (collectively referred to as 'the Group') for the quarter ended June

30, 2018, attached herewith, being submitted by the Company pursuant to the requirement of Regulation 33 of

SEBI (Listing Obligations and Disclosure Requirements) Regulatlons, 2015 ('the Regulation1) read with the SEBI

Circular No. CIR/CFD/FAC/62/2016 dated s'" July, 2016 ('the Circular'),

2. The preparation of statement In accordance with the recognition and measurement principle laid down In lnd!an

Account standard 34 "Interim Financial Reporting" (Ind AS 34) prescribed under Section 133 of the Companies

Act,2013 read with Rule 3 of Companies( Indian Accounting Standard) Rules, 2015 read with SEBI Circular No.

CIR/CFD/FAC/62/2016 dated s'" July,2016 Is the responsibility of company's management and has been

approved by the Board of directors of the company. Our responsibility is to issue a report on the statement based on our revie\v.

3. We conducted our review In accordance with the Standard on Review Engagement {SRE) 2410, 'Review of

Interim Flnandal Information performed by the Independent Auditor of the Entity' issued by the Institute of

Chartered Accountants of India. This standard requires that we plan and perform the review to obtain moderate

assurance as to whether the financial statements are free of material misstatement.

4. A review is limited primarily to Inquiries of company personnel and analytical procedures applied to financial

data and thus provide less assurance than an audit. We have not performed an audit and accordingly, we do not

express an audit opinion.

5. The Statement includes financial results of the following entities:

•

Gati Kintetsu Express Private limited

Gatl Import Export Trading Limited

Zen cargo Movers Private Limited

Gatl Kausar India limited

Gati logistics Parks Private Limited

Gati Project Private limited

Asia Pacific Pte limited

Including its subsldiaries

Gatl Hong Kong limited

Gatl (Thailand) Limited

Gati Cargo Express (Shanghai) Co. Limited

NF\!/ f"\FI HI RANr.AI f'>RF

Subsidiary

Subsidiary

Subsidiary

Subsidiary

Subsidiary

Subsidiary

Subsidiary

Sing hi a Co. Chartered· Accountants ....... contd.

6. Attention Is drawn to the following:

{I} In one of the subsidiary, Gati Kausar India limlted, being consolidated based on management certified

accounts, the company's obligation towards commitments fees of Rs. 837.7 lakhs, arislng in an earlier year pursuant to the terms of the amended bond subscription Agreement, is provided in the books of

account based on management's assessment of Its obligation under the said arrangement. However, in the absence of sufficient appropriate audit evidence In support of the management assessment and pending final outcome of the negotiation with the investors, the auditor of the subsidiary was unable to

comment upon the adequacy of the provision and Its consequential impact on the financial results as at March 31, 2018. No adjustments has been made during the quarter in this respect.

(Ii} The company and one of the subsidiary, Gatl Kintetsu Express (P} Ltd, has given operational advances to few parties aggregating Rs. 2747.35 lakhs In earlier years, which Is long overdue and the full recoverability of which Is doubtful. No Impairment allowance for potential collectability has been recognized against above advances. Based on the Information received from the management of the Company regarding the assumptions used in assessing the recoverablllty of this amount, we were unable to determine the impact on the consolidated financial results, of a potential adjustment for impairment that might have been necessary in order to present the balance at its estlmated recoverable value.

Our opinion is qualified In the above matters.

7. Further, without qualifying our opinion, we draw your attention to the fact that managerial remuneration paid to the Executive chairman of one of the subsidiary company for the year ended March'18 and March'17 which exceeded the limit prescribed under section 197 read with Schedule V of the Companies Act, 2013 by Rs. 78 Lakhs and Rs.63 Lakhs for respective years. The Subsidiary company has filed application to the central Government for the waiver of excess remuneration and pending receipt of the approval, no adjustment to the financial results has been made.

8. We did not reviewed the financial results / financial Information of 9 subsidiaries (Including 3 step down subsidiaries) whose financial results /financial information reflect total assets of Rs. 12672 Lakhs as at June 30, 2018 and total revenue of Rs. 5335 Lakhs, as considered In the unaudited financial results. These financial results have. not been reviewed by their auditors and are based solely on the management certified accounts. Our Conclusion Is not modified in respect of this matter.

Sing Iii et Co. Chartered Accountants ....... contd.

9. Based on our audit conducted as above and based on the consideration of management certified accounts,

except for the indeterminate effect of the matter referred in paragraph 6 (I) and 6 (II) above, nothing has come

to our attention that causes us to believe that the accompanying Statement, prepared in accordance with the

recognition and measurement principles laid down In the applicable Indian Accounting Standards ('Ind AS')

specified under Section 133 of the Companies Act, 2013, read with relevant rules Issued thereunder and other recognized accounting practices and policies has not disclosed the information required to be disclosed In terms

of Regulation 33 of the SEBI (listing Obligations and Disclosure Requirements) Regulations, 2015, read with SEBI

Circular No. CIR/CFD/FAC/62/2016 dated July 5, 2016, Including the manner In which It is to be disclosed, or It

contains any material misstatement.

Place: Kolkata Date: 13•h day of August, 2018

c Firm's Registratl

(Anura Sing I) ner

Membership Number: 066274

- GA!fl i tMl'i'EO. GIN': L63<J~1T;~i'99SPLC.Q20'J.2:1

Reg.d. &'.Corp 0.ffJce.: .Plot No 20,. Su'Ney No 1,2;. K:othagUdil'1f(ondaj'tur; ffYder.aba!'f SQQ os<l .websl.t.e: .W..V.w.gatf.cHm e.-:m~ll : . lnvestor.servlces@'.igatl.com Phone"tfo. - Olft)'.?i2!l4284 Eax.- 040'-23112318 sfAtEMEN'.ro~ :c!NAUDITEO cdNS6llOAJ:Eo .FiNANtlALRES.i.JLt5.EOR THE' 0.9'A°RTER· ENDED -30t'h'JUNE, 201a

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1.33

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. . .. . Vn<tt'J<Ht~o ·Y'ortsblld:cl~'ed S«igroeii.t·~lsa'. Re\f.ertue,R~sults, and Assets,-ancrffabllltles· fbt··the; Q_usrfor: ~n"ded ~¢lfr Jtme ~o:'fs

. i.:\.'.F.uel EPa1i' ·tr Y:/ .. .. ·'~ .\9 ... ·.

2~ ·$:egmen.t- g,_$.~*~ (P.rc?ftt t..,>° r l..i;J$"$: H :b~fti'rtl. tilK artd Jn'.f~tesHi:O:fti .M¢.tt ~~{to;~nll-

b) f.:Uet.St~.tf~n-:.

Less.:· E°i'.<G~ptibnal ft~rns .

' total .As.sejs~ ·

. · bkOthE3J~i.. . : ...... : . -· :

/. / ' .

_{686)

e:t ·

9,

n .. te.~1

~ Jiaa· · . . !~ . . '

. ;

46· .

Aoi l.'38.

46.

J .,"S:4, 902:· .

.1 .. 'the onaudlfod consolldated·ffnand<!Y rasultS';f"ra'IJe bee:1nev1~.wed'6ytheAu_dltGorxi:tn.l~ee,af')'i'l~PP.f()\le9 ~Y. ihe' B p;if # ·:¢f ot~~~tcf(s aftts- me~~~ nit{tie(p .tlri 'A lfgt;i_st.13 ,:2.01s~ . F.Jr'i an·¢Jl)lS.'fot'tb'e' civa:r::t~t eM~<:l)u"e '.3-0J 201oa; ljave 6e~t1 reV.leW.ed b.ythe Shi.tufor,yAucOtor.

t t The ·.t.oJiipa'ny.. ·atict lt.s 1Ci subsidlarles: lncil'udihg ~ ·overseas step down ,subsidiaries C16r.oup") ·are :engaged ·prlm>arffy' In ·Hr~· bus'ihess·. Qf .rµnntirg Expr~ss,: bJ~rlbu~)on1 sifpply· ~~afo S~M~~s .. e-l;9!Tlr:rt~rce, IQgfsilcs~ . Jnt~gtate.~_;F.fe.1ghr Fo.r'wat~[fig:, w..are'hp:~slngrj.11).d rU.l'Jning·F.l'.lel .s~tlot;s_

~. o~rlnIJ.the c.utte.ht'qtla_rte,:r;- t~~ 1o:c1>me1'c!x A~P.ellaJ~Trl):JU.11_<11 .h'ci'.~ p~~s~tfth~Ota~r In favour..of.tlle Group ih. thls.1r\Citter· fdr Assess·mentYear 2<YOS@ ,. by dlsmfsslng•tl'le"departmerit·appea1. consequently, the: Group has· re-c.¢1V.~tf inte.rf.!st::'OY: Rs1. a.24, fq~fr~l ;W.~J~.h h~~«~bee.n. f!'ltlud~ " I~: othet· foc9_m~. 'tt, !s not '~11ovm Wh~th~'r' the: d ~p.qf'.tll'ien't:Jl.aS\ g'Qne."-.Qh ~,f ete·ten~·;tP-Hlgli'Cqlir,t .

4. f>Vl'..sll~{lU6 .the 0,rder'ofttff:· Hq'fl;'bi~fliglf Cpurt: of'New Q,elhl ln<•Ht aP.P.ea.ttftefetre·ct by Alffndla, i:ln arno.u·nt of'~s. '.21~0(>'.lakhs was~lve.n. .or.r;aaaounf ~y .Air lndfci, pendinit, adlucflta'tlon:·of· C:ross.A~peal5' before the Olvlsion l3erte,tl t>ftqe·said H'on:~1Jt~:.tflglf.Qo4rt~tJ:Jew"Del~f, Nece~~~ry 1!4Justr;n:ent~. !f'any; Wilf t:?e·tn~d~ ltiJh~ accoµnts :µwon •tff e:~e"~fsloo of tli~:Honq:ir~ Hlgfl Court of NeW'D-elh!. ·~ .

6. av~rd~e'·a.dV.~ri'o.e~ ·alttregatfi:ig ;()f.·Rs ~711-:1~:3 s: LaRf\s:t0.'.tw.°'.com~9nleS.whtch. ~re.telated .. J?.q rttes1 a re ~under, legal: process·o.f.recovery aricl"acrcord!hgly·nopro:1tlsio·n;ls pre·sentlyconsldered nece-ssary~ the'.Stat'utoryauditor.shave.

·q·ua!Jfl~d·t~'{s m~tl~r' iY;J theitflmh~d:.re.vl~w r~·P.Q~:

7., Th'e· Gto):ipJ1a'd1.ccirtifn"Jt:t:e.d t.Q.trali~f~~ pOftlorl.Of a' pffli:e~biJll.dlngto.:,ap'r.tvate'tru:St.for:. a c,ons[de'fatlon.of 13'$ 62-S Laktis·<aga inst wh'icifi":an advance Rs 150 lakhs1 had already been received. Profit on·the.aforesald safe.win be ~ftqt:mt~p on;c9ropi~ttOJ'I ofsaJ~

8, Tilte r~r:ou.per<}tl<5n~Jt~(~'to- ~~e .. E,x~t);l~lv~~~~~Jr.m.<!n· qf tfl_e'~ s~l:is!di~:iy (G:ati!-IS!b.~e~µ. ~~Pr~·s$.' Pt.lVP.t~ llir.ilte~) dur.lrrg:ttreyep_~·eod·e:ctM.ar~.tf3l,2018 irn:ct March 3.1; W17 .tlps exceededtbe-Jlrntt ~te$c'riP.ed onder -section 19-7 of the t'ompanles;J\ct> .1013,i. f>•f .. Rs:. 78' .. takhs and Rs. 63 ,lakh~· foF respective: years;. The Com·pany-has> filed ;:i11r'f!ctat1o_n I macr~ forthe.r.-r;~p,tes·et1r~flqn . to ~tre CentJq,J µovetl'.'l:tt.i¢nt fi;>r- ·t6.~, ~a11,1er. of. above eil.~~~s remiJnet.allo.t:i .atnq~eridft'lg'..t~celp't;of:tne .appro.val,. no.~adjus'tnients to fina.ri:clal results: ~ave been r.nade. lhe

, sameihas'been reP,ortedfln Audltreporfof fln-anclal year·emfed M~rtb i~.20l~i~n~ rt:owreferre~ in 1~·etr .... rev!ew repg~ ~·~ ~rr ~.rnl>~·~~J.s:·of..m~~~i:.

9. O:urfng: the~quader..:£108)'3.42 .shares~were .a'.llotted af a .premlum~df.'Rs 4~;6Q per share: and.er Employee.·stotk ·~ptj9·b:;s:cfie_rrie-rn~.~s)\.¢or:r.$eq~~r1,~'fv.nvl'Tl~~:9f~ciurtv:~~~x¢~(b~s'.ln·~t~;t~~dJti?tn ~Qj~3:1.49;7:9S to·10,84;'S:s;1:a.1-.

·th~ ~rb\ip Ha~-4~ao,Z.SO'.$Mres·~·t~ pe·n'Wl'.lgifof allotmerit:ui\def ES:OS'..as';o.1Uune:,ao,2n1s,

~id. The·value,of;lnvestment .ln ao.·assodatE!"had.bE!·errrl"ully.proYfdsd:in earll'ery~ars1therefore~the':shate oflloss·ln 1lie1t,tf~s;no~ i)'e;eh c.ons,1rteeeci. 11:1 :cpri~t1lt~~te·~ accdunts.

11.,. Th~ fig.I.ires t::if last.quarter for .the ~i'evtous year are. the balancing .figures- In respect of the full 'ffnanclal' y,ear en·ded March gi,,_2018:antftlie. unaudited publish-ed y,ecir to date;f~ures up:t<Hhird quarter ended oecel'!'lb'er '31; 2Ql? whl~!f~re;~y_~Je~t ~~ tirtirteli:r~vlew.

12. ,F'lgute pf'the prevhtUs quartef./ pertodsrhave been r.e•arranged/re._gr:ouped\where-.ever constdered necessary.

Pla~e.~:,N,~V.(Dt;!!ht pate'MOg\i.st:l31 ~Ql.8

~·

· Ftir GAttllMITED

~~ MatrehC!fa Aga-rw~l

f_o'i.)l'\de'f.::a'nd CEO. QIN.: OQ·p~719