Cargotrans Maritime Ltd Management Discussions

A. INDUSTRY STRUCTURE AND ECONOMIC DEVELOPMENTS

Global Maritime Overview

The global maritime industry remains the backbone of international trade, supporting 80% of world trade by volume and 70% by value. It serves as the critical lifeline for global supply chains, facilitating the movement of goods, energy resources, and raw materials. As international trade continues to recover from post-pandemic disruptions, maritime trade volumes have surged, driving growth in shipping and port services globally.

The shipping industry has undergone rapid technological advancements, which include the automation of ports, digitalization of operations, and the increasing adoption of eco-friendly shipping solutions. International organizations like the International Maritime Organization (IMO) and United Nations Conference on Trade and Development (UNCTAD) have set ambitious goals for reducing the environmental impact of shipping, driving investment in cleaner technologies and alternative fuels.

Indian Maritime Sector

India, strategically positioned along the worlds busiest trade routes, remains a signi cant maritime player, contributing signi cantly to the global shipping and trade volumes. The Indian maritime sector continues to be a vital contributor to Indias economy, with maritime trade accounting for approximately 95% of the countrys trade by volume and 70% by value.

The Maritime India Vision (MIV) 2030, launched in 2021, has accelerated the growth trajectory of Indias maritime sector. With over 150 initiatives outlined under this Vision, signi cant progress has been made in upgrading port infrastructure, promoting port-led industrial development, and improving the regulatory environment. In 2025, the focus has shifted towards implementing advanced technologies, such as arti cial intelligence (AI), machine learning (ML), and Internet of Things (IoT) for smarter ports, and green shipping technologies to reduce carbon emissions in line with Indias climate goals.

B. RECENT AMENDMENTS/CHANGES IN THE MARITIME INDUSTRY IN 2025

1. Maritime Safety Bill, 2025:

Introduced to enhance maritime safety, aligning Indian laws with SOLAS and MARPOL conventions. Key provisions include stricter port and ship safety audits and new ballast water management regulations.

2. Inland Waterways Authority (IWAI) Act:

Promotes development of inland water transport with new multimodal terminals and environmental sustainability guidelines for inland shipping.

3. IMO Carbon Intensity Regulation (CII):

Requires ships to reduce carbon intensity by 40% by 2030. New compliance measures include mandatory CII ratings and corrective action for non-compliance.

4. Customs Regulations (2025):

Revamped to streamline cargo clearance with e- ling systems and reduced waiting times, alongside increased penalties for incorrect cargo declarations.

C. OPPORTUNITIES, RISKS, AND CONCERNS

Opportunities

Private Port Expansion and Investment:

With the government encouraging private investment in port infrastructure under the Public-Private Partnership (PPP) model, there are signi cant growth opportunities for private players to develop state-of-the-art terminals and logistics hubs. The focus will be on enhancing containerization, multi-modal connectivity, and digital port management systems.

Green Shipping and Sustainability:

New international environmental regulations are providing opportunities for shipping companies to adopt sustainable practices. Green shipping technologies, such as LNG-powered vessels and wind-assisted propulsion, are gaining traction, o ering long-term savings in fuel costs and reducing emissions.

Technology Integration in Port Operations:

The maritime sector is embracing digitalization, automation, and AI to optimize port operations and shipping logistics. The integration of technologies such as AI-powered tra c management systems, robotics for container handling, and blockchain for securing cargo documentation presents signi cant opportunities for industry players to improve e ciency and security.

Risks and Concerns

Rising Operational Costs:

The implementation of new environmental regulations, especially those concerning carbon emissions reduction, will lead to increased operational costs for shipping companies. Additionally, the adoption of new technologies requires signi cant capital investment.

Geopolitical Instability:

Geopolitical tensions and con icts, particularly in the Middle East and East Asia, continue to pose a threat to global trade and shipping operations. Trade sanctions, disruptions to maritime routes, and rising piracy risks could have a direct nancial impact on shipping companies.

Cybersecurity Threats:

The increasing reliance on digital technologies exposes the maritime industry to greater cybersecurity risks. Cyberattacks on ports, vessels, and shipping networks could disrupt operations, damage company reputations, and lead to nancial losses.

D. HUMAN RESOURCE MANAGEMENT

The company remains committed to developing and retaining a skilled workforce. In line with industry standards and regulatory changes, the company is focusing on:

Training on Environmental Compliance:

Ensuring employees are well-versed in the new environmental regulations and standards for sustainable shipping practices.

Enhancing Cybersecurity Awareness:

Given the increasing digitalization of port and vessel operations, sta are being trained in advanced cybersecurity measures.

Promoting Diversity and Inclusion:

Continued e orts to foster a diverse and inclusive workplace to enhance employee engagement and retention.

E. FINANCIAL PERFORMANCE AND KEY RATIOS

Below is a summary of key nancial ratios for FY 2024-25 compared to FY 2023-24:

Ratios	2024-25	2023-24	Change %	Reason for Change
Current Ratio	2.69	4.08	(34.06%)	Due to corresponding increase in Current Assets and Current Liabilities
Operating Pro t Margin %	0.05	0.04	18.73%	NA
Net Pro t Margin %	0.03	0.03	Nil	NA
Debtors Turnover	8.15	8.74	(6.72%)	NA
Interest Service Coverage Ratio	7.87	31.73	(75.19%)	Due to increase in Debts and Interest Exp
Debt Equity Ratio	0.49	0.50	(2.01%)	NA

F. STATUTORY COMPLIANCE:

The company has adhered to all statutory requirements under the Companies Act, 2013, SEBI Regulations, and the Maritime Safety Act as amended in 2025. Additionally, the company has complied with International Maritime Organization (IMO) regulations and environmental guidelines.

G. FORWARD LOOKING STATEMENTS:

Outlook for future are estimates based on certain assumptions and expectations of future events, eco -political and other developments across the country, the company cannot guarantee that these are accurate or will be realized. Statements in Management Discussion and Analysis describing the Companys objectives, expectations or predictions may be forward-looking within the meaning of applicable securities law and regulations. The companys actual results, performance or achievements could thus di er from those projected in any forward-looking statements.

H. CAUTIONARY STATEMENT:

Statements in this report describing your Companys objectives, projections, estimates, and expectations may be ‘forward-looking statements, within the meaning of applicable laws and regulations, based on the beliefs of Companies Management. Your Companys current views concerning future events are subject to risks and uncertainties. Many factors could cause the actual result to be materially di erent from those projected in this report, including changes in general economic and business conditions, changes in currency exchange rates and interest rates, the introduction of competing services, a lack of acceptance of new services, andchanges in business strategy.

	FOR AND ON BEHALF OF THE BOARD FOR CARGOTRANS MARITIME LIMITED
	EDWIN ALEXANDER	MANJU EDWIN
Place: Gandhidham	CHAIRMAN	WHOLE-TIME DIRECTOR
Date: 21st August, 2025	DIN : 05211513	DIN: 05224705