On behalf of the Board of Directors, I am delighted to present the 26^th Board’s Report of your Company, along with Audited
Standalone and Consolidated Financial Statements for the Financial Year 2024-25 together with the Auditors’ Report and Comments
on the Accounts by the Comptroller and Auditor General (CAG) of India. The detailed financial and operational performance of the
Company is produced in the report.

ELEVATION TO SCHEDULE “A” and “NAVRATNA” STATUS

During 2024-25, IRCTC was upgraded to Schedule “A” CPSE by Government of India as conveyed vide Ministry of Railways’ letter
dated July 19, 2024. IRCTC's promotion to a 'Schedule A' category CPSE signifies IRCTC's robust performance and reflects positively
on IRCTC's management, operations, and contribution to the hospitality, travel, and tourism sectors under the Ministry of Railways.

The Company added another feather in its cap when, on March 3, 2025 , IRCTC was elevated to Navratna status — making it the
25^th Navratna CPSE across the central PSEs. This is the second-highest PSU ranking, positioned between Maharatna and Miniratna.

With its elevation to Schedule A and Navratna status, IRCTC has transitioned from operational prominence to strategic autonomy,
gaining enhanced financial and managerial autonomy to pursue growth in tourism, catering, technology, and global markets.

INTEGRAL REPORTS

The reports as reproduced in the table below with relevant sub-appendices form an integral part of this Board’s Report, and have
been placed with their Annexures respectively:

The Management Discussion and Analysis Report provides
an overview of the affairs of the Company, its legal status
and autonomy, business environment, mission & objectives,
sectoral and segment-wise operational performance, strengths,
opportunities, constraints, strategy and risks and concerns,
as well as human resource and internal control systems
[Annexure - “A”].

The Report on Corporate Governance highlights the philosophy
of Corporate Governance, composition of its Board of Directors
and its Committees, their details including profile of directors
whojoined the Board during 2024-25 and thereafter, attendance
and remuneration of directors, declaration of independent
director etc., other relevant disclosures and general information
for shareholders [Annexure - “B”]. It is supplemented by the
following compliance certificates:

i.    Certificate signed by the Chairman & Managing Director
affirming receipt of compliance with the Code of Conduct
and Key Values from all Board members and Senior
Management personnel during the year 2024-25. (Placed
at Appendix - “B1”);

ii.    Certificate from Chairman & Managing Director and Chief
Financial Officer (CFO) with respect to the truth and fairness
of the Financial Statements, due compliances, and financial
reporting for FY 2024-25 (placed at Appendix - “B2”);

iii.    Certificate of compliance of Corporate Governance
provisions signed by a practising Company Secretary
(placed at Appendix - “B3”);

iv.    Certificate by practising Company Secretary regarding
non-disqualification of directors of the Company (placed at
Appendix- “B4”).

The Annual Report on CSR and Sustainability Activities provides
a brief outline of the company’s CSR and Sustainability policy,
the composition of the CSR Committee, the average net profit of
the Company for the last three financial years, prescribed CSR
expenditure, and details of CSR spent on the activities / projects
undertaken during the financial year etc. [Annexure - “C”].

Business Responsibility and Sustainability Report (BRSR)
and Independent Assurance Statement

As per Regulation 34 of SEBI (LODR), BRSR indicates the
Company’s performance against the principles of the ‘National
Guidelines on Responsible Business Conduct’, which would
enable the Members to have an insight into Environmental,
Social and Governance initiatives of the Company.

In line with Circulars issued by SEBI from time to time, the
BRSR Core KPI’s have been reasonably assured by “M/s
WIRE Consultancy”.

IRCTC’s Business Responsibility and Sustainability Report for
FY 2024-25 along with Independent Assurance Statement is
annexed as Annexure-”H”.

Pursuant to Section 204 of the Companies Act, 2013 read with
Companies (Appointment and Remuneration of Managerial
Personnel) Rules, 2014, IRCTC has appointed M/s Kumar Naresh
Sinha & Associates, Company Secretaries, an independent
practicing firm of Company Secretaries to conduct Secretarial
Audit for the financial year 2024-25. The Secretarial Audit
Report for the financial year ended March 31, 2025 is annexed
to this Report [Annexure -“D”].

The replies of the management to the observations contained
in the Secretarial Audit Report for the FY 2024-25 are placed
as Annexure-“E”.

The replies of the management to the remarks/emphasis
of matter made by the Independent Auditor in its report on
the financial statements for the year 2024-25 are placed
as Annexure-“F”.

The Form AOC-2 prescribed under clause (h) of sub-section (3)
of section 134 of Companies Act and Rule (8) of the Companies
(Accounts) Rule is placed as Annexure-“G”.

FINANCIAL PERFORMANCE OVERVIEW

Financial highlights on standalone basis for FY 2024-25 are as under:

• Capital Structure:

The authorised and paid-up share capital of the Company
at the end of the current financial year was H250 crore
(125 crores shares of H2/- each) and H160 crore (80 crores
shares of H2/- each) respectively and there was no change
in the above during the year.

There was no change in the shareholding of Government
of India in the Company during the year 2024-25. As
on 31.03.2025, President of India (PoI) held 49,91,72,170
Equity shares (i.e., 62.40% of the total paid-up equity
share capital) with balance 37.60% shares being held by
Insurance Companies, FPIs, Institutions, Mutual Funds,
Banks, Body Corporates, Individuals, etc.

The details of dematerialisation of shares, Demat
Suspense Account / Unclaimed Suspense Account are
provided in the Corporate Governance Report, as annexed
to this report.

•    Transfer to Reserves:

During 2024-25, the Company transferred H35 Crores to
General reserves.

•    Dividend:

The Board of Directors has recommended a Final
Dividend of HI/- per share (face value of H2 each) for the
financial year 2024-25, amounting to H80 Crores, subject
to approval of the shareholders in the ensuing AGM. This

Final Dividend is in addition to the first interim dividend of
H4.00 per equity share (face value of H2 each), amounting
to H320 crores, paid in November 2024, and the second
interim dividend of H3.00 per equity share (face value of H2
each), amounting to H240 crores, paid in March 2025.

Accordingly, the total dividend for the financial year 2024¬
25 aggregates to H8.00 per equity share (face value of H2
each), amounting to H640 crore which works out to 48.68%
of the post-tax profits for 2024-25 and 17.47% of Networth
as of March 31, 2025.

The declaration of dividend by the Company for the
financial year 2024-25 is in compliance with the guidelines
issued by the Department of Investment and Public Asset
Management (DIPAM), which prescribes that 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.

•    Dividend Distribution Policy:

The Dividend Distribution Policy of the Company
is available on the Company’s website at https://
www.irctc.com/assets/images/IRCTC_DIVIDEND%20
DISTRIBUTION%2 0POLICY-_31.07.2 019_CB%2 0
Comments%20r05.08.20191.pdf

•    Unpaid/Unclaimed Dividend :

The details of unpaid/unclaimed dividend are available
on the website of the Company at the link https://www.
irctc.com/iepf.html, and is also disclosed in the Corporate
Governance report.

•    Company’s contribution by way of revenue share to
Ministry of Railways:

The Company also contributes by way of revenue share
to Ministry of Railways (MoR) and the total share of such
contribution was H638.50 Crores during the year as
against H620.14 Crores in FY 2023-24.

Contribution to the revenue to MoR comprises of Haulage
Charges and Railway Share.

•    Employee Stock options:

Your Company has not provided any Employee Stock
Option during the year, therefore, disclosure requirement
in relation to ESOP under Rule 12(9) and Rule 16(4) of the
Companies (Share Capital and Debentures) Rules, 2014 is
not applicable.

OPERATIONAL PERFORMANCE

The segment wise operational performance of the Company
during 2024-25 is detailed below:

CATERING & HOSPITALITY

The Catering and Hospitality segment of IRCTC is segregated
as produced below:

Mobile Catering:

IRCTC is dedicated to providing onboard catering services
to passengers traveling by train, ensuring convenient
access to quality food during their journey. These services
are offered through two main modes: pantry cars or mini
pantries equipped with onboard storage, reheating, and
cooling facilities.

In trains equipped with pantry cars or mini pantries, food
is prepared and stored with the help of onboard facilities,
allowing for fresh meals to be served to passengers
throughout the journey

Mini-pantry

As on March 31, 2025, IRCTC successfully extended its onboard
catering services to a network of 1,269 trains, highlighting its
commitment to passenger comfort and satisfaction. The Mobile
Catering segment plays a vital role in enhancing the overall
travel experience by providing hygienic, timely, and convenient
food options for millions of travellers across the country.

•    Train-Side Vending:

A significant number of Mail and Express trains do not
have pantry cars or mini pantries onboard. To ensure
uninterrupted catering services in such trains, IRCTC
facilitates onboard food service through the Train
Side Vending (TSV) arrangement. Under this system,
food and beverages are procured from originating
and en-route stations and served fresh to passengers
during the journey. This efficient mechanism allows
IRCTC to extend catering services to a wider network
of trains, maintaining the quality and convenience
expected by travellers.

As on March 31, 2025, IRCTC provided onboard
catering through Train Side Vending in 701 trains,
either on a sectional basis or end-to-end routes.

•    On-Board deployment of Catering Supervisors:

To ensure the highest standards of service quality,
IRCTC has deployed Supervisors and Catering
Assistants for end-to-end monitoring of onboard
catering services in all premium prepaid trains. For
Mail and Express trains, monitoring is carried out on a
sectional basis.

These onboard monitoring staff play a critical role
in overseeing catering operations and maintaining
service standards. They also serve as the first point
of contact for passengers, addressing grievances and
feedback in real time, thereby ensuring swift resolution
and enhancing the overall travel experience. This
proactive monitoring framework reflects IRCTC’s
commitment to service excellence, hygiene, and
passenger satisfaction across its catering network.

Food Safety Supervisors monitor food preparation,
conduct daily/ weekly/ monthly audits, impart routine
training to the kitchen staff and collect food samples
and ensure its lab testing on regular basis.

During FY 2024-25, 25,867 samples were collected
for the purpose of testing.

•    Point of Sale (POS) Handheld Billing Machines:

To eradicate overcharging, IRCTC has made issuance
of invoices through POS machines mandatory for
all vendors. These machines enable issuing of bills
for every transaction, including those in a moving
train. This also ensures proper accounting system
and control. At present, all units, mobile and static,
have provision for billing through the POS. Efforts
have been made for cashless transactions in all
Trains, Train-Side Vending etc. under the Digital India
initiative of the Government of India.

As on 31.03.2025, 4142 POS machines were made
available in 896 rakes of Pantry cars & 4039 POS
machines in 1062 rakes of TSV trains. Additionally,
638 nos. of POS machines have been installed in 541
static catering units, including Refreshment Rooms,
Jan Ahaars, Food Plazas, Fast Food Units, Retiring
Rooms, Executive Lounges, and RYN/BNR Hotels,
under IRCTC network,

•    War Room for Real time monitoring of Static &
Mobile Catering units:

An exclusive War Room equipped with latest
monitoring & communications facilities has been
set up at IRCTC Corporate Office. It is manned
by qualified, skilled, trained and experienced
manpower. War room is functional round the clock,
24x7 on all days.

War Room is not only dealing with Passenger
Complaints/grievances on real time basis
but also deals with its prompt redressal &
feedback management.

Besides above, War room is also monitoring its
Operational Kitchens at various locations across the

country, through customized Al integrated Cameras
on Large Screens, sharing operational & other
deficiencies through system generated Al Tickets for
prompt corrective action by the Service provider.

Quality Control:

To improve the standard quality meals and service for

passengers, IRCTC has put the following systems in place:

•    Complaint Monitoring & Redressal:

There is a monitoring team in place in the Company,
which forwards the complaints feedback data to
the concerned department/s and files interim reply
to passengers online followed by final remarks on
the action taken. Complaints /feedback pertaining
to IRCTC are recorded on E CSIM (Catering Service
Information Management) on the action taken and
disposal thereof.

A passenger can give feedback or register complaint
against catering services on ‘Rail Madad’ module
that allows passengers to lodge complaints through
mobile app/web platform. There are other various
methods to register complaints such as, CPGRAM,
National Consumer helpline, Complaint Books,
etc. During 2024-25, the Company resolved 442
CPGRAM cases, 126 CPGRAM appeals, 27 RTI’s and
442 NCH matters.

•    Food Safety Audits:

The Company also undertook third Party Food Safety
& Hygiene to get feedback on hygiene, quality of
food, infrastructure facility, implementation of FSSAI
regulations. Te details of the audit undertaken for
static and mobile units is detailed below:

• Customer Satisfaction Survey:

To get the feedback and opinion of travelling
passengers, IRCTC engaged MRSI (Market research
society of India) to conduct Third party Customer
Satisfaction survey as produced below:

24¹7 live monitoring with Cameras in the Kitchen; IRCTC is
aiming to improve transparency, accountability, and overall
quality control. Central monitoring system is in place at War
Room along with zonal monitoring system at zonal offices.
The system enables live monitoring and corrective steps
in case of exceptions. For efficient monitoring of quality of
cluster kitchens, the Company has installed 1652 cameras
till 31^st March, 2025.

Regular & Surprise Inspections:

Regular onboard inspections are being conducted by
IRCTC officials periodically in trains and catering units at
stations, in addition, surprise inspections are also being
carried out by IRCTC’s officers from the Corporate and the
Zonal offices and designated Railways' officials. Necessary
corrective actions are taken on the deficiencies noticed
during these inspections. During the year 2024-25, 4249
inspections were conducted in IRCTC domain.

QR Codes:

In order to create awareness amongst travelling
passengers, concept of QR Codes was started wherein
passenger can scan the QR code available on food
packets and get the information about date of preparation
of food, name of kitchen, FSSAI license number of unit,
weight of dish etc.

Sample QR code used on food packet

On scanning QR Code the link is directed to IRCTC website
www.menurates.irctc.co.in

CCTV Monitoring:

IRCTC has made a significant progress toward the safety
and hygiene of its food operations by installing AI enabled
CCTV cameras in kitchens across the country. With the

Static Catering

Static catering units are such units which are located
at station premises and offers catering services at
affordable prices to the travelling passengers on Indian
Railway network.

As on March 31^st March, 2025, IRCTC managed 149 Food
Plazas, 161 Fast Food Units, 1 Food Court, 130 Refreshment
Rooms, 38 Jan Ahaars, 7 Executive Lounges, 52 Retiring
Rooms, 01 RYN & 02 BNR Hotels.

IRCTC manages the following static catering units:

• Food Plazas: It is a multi-cuisine plaza giving a
variety of choice for eating. The quality and rates for
items of food plazas are market driven. Food Plazas
normally provide multi-cuisine food under one roof, in
a relaxed dine-in atmosphere with a good ambience
and a common kitchen to provide a wide variety of
food items. As on 31.03.2025, IRCTC managed 149
Food Plaza across IR network.

•    Fast Food Units: These food outlets are self-service
units, where menu and prices of items are market-
driven. Generally packed food & beverage items
including aerated drinks, Biscuits, Chips, Namkeens,
Chocolates and Ready to Eat meals (RTE) and
Railneer PDW etc are served. As on 31.03.2025,
IRCTC managed 161 Fast Food Unit across IR network.

•    Food Court: Food Court consists of different food &
beverage outlets offering an array of food & beverage
items of different cuisines with common dine-in
facility. The different outlet in the food court caters to
the travelling passengers. As on 31.03.2025, IRCTC
managed 01 Food Court at Cuttak Railway Station.

•    Refreshment Rooms: The menu and tariff are
regulated by Railways and the meal items served
includes snacks, a-la-carte items, standard breakfast/
lunch/dinner, Janta Khana etc. In addition, approved
brands of packed items such as aerated drinks,
Biscuits, Chips, Namkeens, Chocolates and Ready
to Eat meals (RTE) and Railneer PDW etc. are also
served. As on 31.03.2025, IRCTC managed 130
Refreshment Rooms across IR network. ¹

•    Retiring Rooms: IRCTC manages Retiring Rooms
at major railway stations to provide comfortable
accommodation facilities to the travelling passengers
at affordable prices. Retiring Room offers facilities
such as Air Conditioned Rooms and Dormitories,
Quality Linen, Locker facility for luggage, LED
Television, Bathrooms with all basic facilities such
as WC, Geysers, Shower etc. with pantry and
housekeeping services. As on 31.03.2025, IRCTC
managed 52 Retiring Rooms across IR network.

•    Executive Lounges: IRCTC has been mandated
for management of Executive Lounge at stations.
Executive lounge at stations provide services like
wash and change, wi-fi internet, live TV, channel
music, newspaper/book stand, buffet services
concierge services for pre-departure and post arrival
assistance to the passengers etc. on payment basis.
As on 31.03.2025, IRCTC managed 7 Executive
Lounges across IR network.

•    Non-Railway Catering: As on 31^st March, 2025,
the Company has completed six major Non-Railway
Catering units pan India. Prominent amongst them
are Calcutta High Court, Indian Maritime University,
NIFT Mumbai, TRAI in Delhi, Lok Bhawan in Lucknow.

•    Rail Yatri Niwas/BNR Hotels: IRCTC also manages
Rail Yatri Niwas/BNR Hotels. As on 31.03.2025, IRCTC
managed One Rail Yatri Niwas at Howrah and two
BNR Hotels at Puri and Ranchi Railway stations.

Future Strategy:

•    Ministry of Railways has undertaken station
redevelopment over IR network under ABSS. In
order toeffectively plan, coordinate, and implement
catering operations at the newly developed units,
ensuring service continuity and quality, IRCTC has
approached Zonal Railways for provision of details
of catering sites to be developed at stations for
continuity of services.

•    Development of Budget Hotels- MoU with RLDA for
undertaking the project for development of budget
hotels is under process for finalization

Budget Hotels:

As part of its expansion strategy, IRCTC aims to establish
a nationwide network of budget-friendly hotels catering
to the needs of economy-class and budget-conscious
travelers, thereby enhancing its footprint in the hospitality
sector as stated below:.

•    Budget Hotel at Lucknow: IRCTC successfully
commissioned 110 Key Budget Hotel at Lucknow.
The property started it's commercial operation
in March 2025 after taking due permissions and
acquiring licenses for operation of hotel. The hotel
has facilities to cater to demand of business travelers,
tourists and MICE.

•    Budget Hotel at Khajuraho: Work for setting up of
60 Key Budget Hotels at Khajuraho is in progress.
Development of Hotel is through PPP Model with
investment of B 7.5 crore. Expected date of completion
of Budget Hotel at Khajuraho is March, 2026.

•    Budget Hotel at Kevadia: Due to increase in footfall
at Statute of Unity and to tap the tourism potential
of upcoming tourist destination of Kevadia, IRCTC
is in process to create Budget Accommodation at
Kevadia. In the first phase, work for setting up of 125
Key Budget Hotels at Kevadia is in progress through
PPP Model with investment of B 20 crores. Expected
date of completion of Budget Hotel at Kevadia
is August, 2026.

•    Other Hotels in pipeline:

Ayodhya, Uttar Pradesh, IRCTC is in process to
purchase suitable land parcel for development of
Budget Hotel at Holy City of Ayodhya.

Vishakhapatnam, Tirupati & Amravathi, Andhra
Pradesh, IRCTC is in advance stage of discussion
to acquire suitable land parcel from Govt. of Andhra
Pradesh at Vishakhapatnam, Tirupati & Amravathi.

E-catering

We are embracing technology in the catering and
hospitality domain through the e-Catering services.
This initiative seamlessly integrates technology into the
culinary experience for train travelers. Leveraging this
internet-based service; passengers can now conveniently
book their preferred meals from a selection of partner
restaurants and food outlets using a mobile application
while travelling on trains. This innovative approach enables
passengers to enjoy delicious meals delivered directly to
their seat or berth.

New Branded Player Joins IRCTC e-Catering

In FY 2024-25, IRCTC e-Catering services has empanelled
Zomato and Swiggy as a regular e-Catering Food
Aggregator for a period of 03 years with the shared vision
of bringing convenient food options to our passengers,
to make their train journeys delightful. Both Zomato and
Swiggy are thriving in their efforts to deliver top-notch
food experiences to consumers.

Bikanerwala is a well-known brand that specializes in
Rajasthani snacks and sweets. With the addition of IRCTC
eCatering on Indian Railways, passengers can now enjoy
Bikanerwala’s offerings during their train journeys, bringing
Rajasthani flavors onboard. Key offerings include a variety
of sweets, snacks, and Rajasthani thali options.

KFC a global fast-food chain famous for its fried chicken,
offers large meal bundles through its eCatering services.
With IRCTC eCatering on Indian Railways, KFC now
delivers its signature chicken buckets, wraps, sides, and
desserts to train passengers, making it perfect for a casual
meal while traveling.

Pizza Hut is known for its pizzas and Italian-inspired meals.
Its eCatering services provide family-sized pizzas and
large orders suitable for group gatherings. Through IRCTC
eCatering on Indian Railways, Pizza Hut brings these
crowd-pleasing options directly to passengers traveling
across India, making their journeys more enjoyable.

Biryani By Kilo specializes in aromatic biryanis cooked in
traditional handis now available through IRCTC eCatering
on Indian Railways, passengers can savor this rich and
flavorful biryani on the go, perfect for long train journeys.

Additionally, efforts toward enhancing the ‘Food on Track’ mobile app were undertaken, as reflected in its achievement of
a 4.8 rating on the Google Play Store. The app was praised for its seamless experience, user-friendly interface, extensive
restaurant choices, and prompt delivery, even on long routes. These developments collectively strengthened the reliability and
outreach of IRCTC’s e-Catering services.

In FY 2024-25, IRCTC e-Catering touched all time high of average booking of meals per day as 91,543 with approximately 66%
of growth vis-a-vis previous year. The expansion of e-Catering in terms of meals booked per day is described vide chart.

e-Catering QR code for order booking

TRAVEL AND TOURISM

Tourism is one of the world’s largest economic sectors
that creates jobs, drives exports and generates prosperity
across the world. It also has the major potential to contribute
to the local economy. India being diverse in landscapes,
cuisines, heritage, adventure, wildlife and culture has
emerged as a well-known destination for both overseas
and domestic travellers in the recent years. Since Tourism
is an integral part of the economy, various development
initiatives have been taken up by the Ministry of Tourism,
Government of India from time to time.

Travel & Tourism 10 years from now: World Travel &
Tourism Council (WTTC) is forecasting a promising future
for the next decade, characterised by robust growth and
unparalleled career opportunities. The details of various
parameters in connection to travel and tourism are
elaborated below:

•    Global Growth:

WTTC anticipates a significant increase in the Travel &
Tourism sector's contribution to the global economy,
moving from 10% in 2024 to 11.5% in 2035.

•    Increased GDP Contribution:

The sector's contribution to global GDP is expected to
rise from $10.9 trillion in 2024 to $16.5 trillion by 2035.

•    Job Creation:

Travel & Tourism is also expected to be a major
source of job creation, with the sector projected to
support 449 million jobs worldwide by 2034.

•    Emerging Markets:

Emerging Markets, particularly India, are expected to
play a crucial role in driving this growth.

•    India's Potential:

WTTC projects India's Travel & Tourism sector to
grow from a GDP contribution of B 21.15 TN in 2024
to potentially B 43.25 TN by 2034, supporting nearly
63 million jobs.

The growing influence of the Tourism Sector as an
Economic Powerhouse and its potential as a tool for
development are irrefutable. Not only does the tourism
sector spearhead growth, it also improves the quality of
people’s lives with its capacity to generate large scale
employment of diverse kind. It supports environmental
protection, champions diverse cultural heritage and
strengthens peace & harmony in the world.

Facilitation as well as strengthening of tourism in India
is the main objective of Ministry of Tourism. Augmenting
Tourism Infrastructure, easing of Visa Regime, assurance of
Quality Standards in services of Tourism Service Providers,
projection of the country as a 365 days’ tourist destination,
promotion of sustainable tourism etc. are some of the
policy areas which need to be constantly worked upon to
increase and facilitate tourism in India.

Domestic Tourism together with Inbound Tourism has
emerged as a key driver of economic growth. In year
2024, India recorded Foreign Tourist Arrivals (FTAs)
of 9.66 million (Provisional) which generated Foreign
Exchange Earnings (FEEs) of B 2,77,842 crores (Provisional
estimates) with a growth of 19.8%. Besides as per the data
furnished by State/UT Governments and other information
available with the Ministry of Tourism, there were 2509.13
million Domestic Tourist Visits (DTVs) all over the country
during the year 2023.

Tourism sector is one of the fastest growing economic
sectors with a significant impact on employment which
accelerates regional development with a multiplier effect
on the activity of related sectors. Among economically
advanced states, Domestic Tourism has become the
key driving factor to the development of tourism. It can
generate resources for conservation of Cultural and
Natural Heritage and has a huge potential to make a
positive contribution to sustainable development goals
of tourist destinations. As per the 3^rd Tourism Satellite
Account (TSA), the study conducted by Ministry of Tourism,
estimated share of Tourism jobs in India during 2022-23
was 12.57%. The tourism sector contributed 5% to India’s
GDP, further highlighting its crucial role in the country’s
economic growth.

Indian Government has launched various schemes such as
PRASHAD (Pilgrimage Rejuvenation and Spiritual, Heritage
Augmentation Drive- as per which 27 new sites have been
identified for development under PRASHAD scheme),
Swadesh Darshan (5 more projects have been sanctioned
in FY 2024- 25), CBSP (Scheme of Capacity Building for
Service Providers), NIDHI (National Integrated Database
of Hospitality Industry), Dekho Apna Desh, etc. to give a
boost to Domestic as well as International Tourism Market.

Identification, diversification, development, and promotion
of niche tourism products in the country is the initiative of
the Ministry to overcome the aspect of ‘seasonality’ and to
promote India as a 365 days’ destination, to attract tourists
with specific interests, and to ensure repeat visits to the
destinations in which India has a comparative advantage.
The following niche products have been identified for
development and promotion of Adventure, Meetings,
Incentives Conferences & Exhibitions (MICE), Sustainable
Tourism, Rural Tourism, Medical and Wellness Tourism,
Eco-Tourism, Golf and Cruise Tourism amongst others.

The World Travel & Tourism Council’s (WTTC ) 2024
Economic Impact Research (EIR) in its report, revealed a
significant recovery of India’s Travel & Tourism sector,

with domestic tourism playing a pivotal role. The data
shows that while Domestic Tourism is driving the recovery
of the sector in India, International Travel spends remain
below pre-pandemic levels. According to the Global
Tourism Body’s latest research, the sector’s contribution
to India’s GDP reached just over B 19.13 Trillion in 2023 -
almost 10% ahead of 2019 levels. Employment in Travel &
Tourism grew by 10% to reach around 43 Million, 8% more
than in 2019. Domestic visitor spending was 15% ahead
of 2019, reaching B 14.64 Trillion. However the spending
from international visitors in the last year remained around
14% lower than 2019- B 0.4 Trillion less being spent by
international visitors last year than in 2019. (https://wttc.org/)

With the right government support, WTTC is forecasting
that the tourism sector could grow its annual GDP
contribution to B 43.25 Trillion by 2034, representing
7.6% of the Indian economy, and could potentially employ
almost 63 Million people across the country.The Indian
Government’s ambition to facilitate 100 Million inbound
tourists at the 100^th anniversary of India’s independence in
2047, as part of the 2047 vision, will act as a catalyst to the
Indian economy and make India one of the world’s most
popular and preferred travel destinations.

Being a Railway PSU, IRCTC specialises in rail-based
products and is the market leader in this segment. IRCTC
is one of the leading travel and tourism companies in the
market, catering to the needs of diverse tourist segments
be it land, customised or LTC packages. Besides Rail-

Based Tourism Products, IRCTC has also diversified into various other tourism businesses for increasing the market share in
the immensely competitive tourism market. Further new avenues have also been explored by planning new packages based
on heritage, culture, adventure, medical wellness and special interest tours. The efforts have resulted in launch of attractive,
competitive and economical tour packages. IRCTC has its exclusive tourism portal, www.irctctourism.com for showcasing and
booking of various tourism products in a single space, shown below as:

IRCTC has marketed the products across India though
various marketing activities especially Digital Marketing
&social media. Due to large number of followers on social
media, the business from Tourism activities increased to
H 745.00 crores in FY 2024-25 (including State Special
Trains) as compared to H 691.00 Crores in FY 2023¬
24 registering an increase of 7.81% over previous year.
The major contributors in achieving the highest Tourism
Revenue in the FY 2024-25 are Bharat Gaurav Trains
(including State Special Trains and Deluxe Train), IRCTC
Corporate Tejas Trains, Maharajas' Express, Domestic Air
Packages and Outbound Tours etc.

The performance of the major Tourism Products are
provided below:

1. Domestic Tourism

i.    Rail Tour packages:    IRCTC offers

comprehensive rail tour package with all¬
inclusive services like confirmed onward
and return rail journey, road transfers,
accommodation, meals and sight-seeing at
reasonable rates. In FY 2024- 25, IRCTC has
provided service to 21,859 passengers through
Rail Tour packages. As on 31.03.2025, 99 Rail
Tour Packages were operational with 47 tour
packages to pilgrim destination and 52 tour
packages to Leisure Destinations.

ii.    Holiday Packages: IRCTC also operates
Holiday Packages (Land Packages) which
include road transfers, accommodation, meals

and sightseeing on the basis of itinerary. In
this package, the services are being offered
to passengers when they reach at destination
(whether from Railway Station/ Airport / Bus
Stand). In FY 2024- 25, a total 29,647 passengers
availed IRCTC Holiday Packages.

iii.    Packages with Charter Train/Coach: These
are all inclusive packages like Rail Tour
Packages, where the train travel is arranged
through chartered coaches or trains by IRCTC.
In the FY 2024- 25, IRCTC operated 10 RTP with
Charter Trains/ Coaches.

iv.    Customized Tour Package: These packages
are tailor-made based on the requirement
of the tourists such as budget, level of luxury,
places of Interest, length of stay etc. During
the Financial Year 2024- 25, a total of 5,594
number of passengers availed customised
packages of IRCTC.

v.    Leave Travel Concession (LTCs): Government
of India authorised IRCTC as one amongst three
PSUs for operating LTC tours. IRCTC offers general
and customised LTC packages to Government
employees. All IRCTC tours qualify for LTC travel.

vi.    Domestic Air packages: Domestic Air Packages
facilitate group travel to pilgrim/ leisure
destinations within the country with longer
segment covered by Air Travel. IRCTC operates
several Domestic Air packages from all the
Zones to various destinations like Shirdi, Goa,
Delhi, Tirupati, Gangtok, Darjeeling, Kalimpong,
Andaman and Nicobar, Ladakh, Srinagar,
Mumbai, Puri, Konark, Ayodhya and many more.
IRCTC provide accidental insurance coverage of
B 10 lakhs to each passenger making bookings
of IRCTC Domestic Air packages. In FY 2024- 25,
IRCTC has operated 629 Domestic Air Packages
and provided services to 13,079 passengers.

2. Inbound Tourist Targeted Tours

i. Maharajas’ Express: Maharajas’ Express has
created a brand image for IRCTC in the field
of luxury tourism in the international arena.
Launched in the year 2010, the Maharajas’
Express has won several international accolades
and has been awarded as the World’s leading
Luxury Tourist Train consecutively from the
year 2012 to 2018 at the World Travel Awards.
Maharajas’ Express operates on four different
itineraries out of which three itineraries are of
6 Nights/ 7 Days and one of 3 Nights/ 4 Days
which cover places like Udaipur, Jodhpur,
Bikaner, Jaipur, Ranthambore, Agra, Orchha,
Khajuraho and Varanasi. The itineraries have
been uploaded with departure dates on the

iii. Buddhist Circuit Special Train: IRCTC has
been operating the Buddhist Circuit utilising the
Bharat Gaurav Deluxe Rake. This rake is a fully
Air-Conditioned LHB Coach Train which offers a
7 Nights and 8 Days package covering all major
Buddhist Pilgrim destinations in India as well
as Lumbini in Nepal. The new rake of Buddhist
Circuit Train has state of the art features and
amenities such as Two exquisite Dining Cars,
Vacuum Bio-toilets, Air Suspension springs,
Security lockers, modified 2AC coaches with
side seating facility, On-board housekeeping
and Security, CCTV Camera Security, Accidental
Insurance Facility, Foot massager and Mini
library, etc. The itineraries with departure dates
of the train have been uploaded on www.
irctcbuddhisttrain.com. In FY 2024- 25, IRCTC
has operated 05 trips of Buddhist Special Train
Tours with 198 tourists in 05 trips.

iv.    Deluxe Tourist Train: IRCTC is also operating
various other Itineraries by the Bharat Gaurav
Deluxe Tourist Train viz. Sri Ramayana Yatra, Char
Dham , Bharat Nepal Yatra, Garvi Gujarat, Pravasi
Bhartiya Tour amongst others. In FY 2024- 25,
IRCTC operated 07 trip with 712 passengers.

v.    Outbound Tour Packages: IRCTC has
formulated various tour packages covering
destinations outside India. In FY 2024- 25, IRCTC
has operated 152 tours and provided services
to 3,904 no of passengers whereas, in FY 2023¬
24, IRCTC has operated 81 outbound packages
and provided services to 2,299 tourists.

3.    Air Ticketing and Corporate Travel

i.    Online Air ticketing: IRCTC’s air-ticketing micro¬
site www.air.irctc.co.in provides online booking
facility of Domestic as well as International Air-
tickets at very competitive prices with the lowest
convenience fee as compared to other portals
of Online Travel Agents (OTA) in the market.

Mobile app of IRCTC facilitates the booking
of air tickets on the go for Android and IOS
users. The average number of air ticket booked
per day through IRCTC in FY 2024- 25 is
5,118. IRCTC provides complimentary travel
insurance coverage of H 50 lakhs to passengers
of all the booking made through IRCTC
web page and App.

ii.    Corporate Travel Business: IRCTC offers
complete Travel Solutions for corporates, which
includes air ticketing, booking of domestic
including LTC tickets, as well as international
tickets, hotel bookings, Visa facilitation,
Insurance etc. IRCTC has decentralised
the business at Zonal level to make more
tie-ups with PSUs/ Ministries/ Government
Departments, etc. and better co-ordination
with the organisations. In FY 2024- 25, IRCTC
has added 26 new Corporate Clients making
the total number of corporate clients to 107
which includes PSUs/ Ministries/ Government
Departments and institutions for providing
corporate travel services.

4.    Mass Tourism

i.    Bharat Gaurav Trains: IRCTC is operating

Bharat Gaurav trains across India with the LHB
rakes provided by Indian Railways for promotion
of Rail based tourism in Domestic market at
reasonable prices. With the introduction of the
new Bharat Gaurav policy issued by Railway
Board, all Tourist Trains are being operated
under "Bharat Gaurav Policy”. IRCTC is having
10 rakes for operation of Bharat Gaurav
trains across India and one additional rake of
Karnataka Govt is also managed & operated by
IRCTC. In FY 2024- 25, IRCTC has operated 78
Bharat Gaurav train tours and provided services
to 35,445 number of passengers, whereas, in
FY 2023- 24, IRCTC has operated 86 trips and
provided service to 43,803 passengers.

The figures include amass the trips and
passengers of Bharat Gaurav Deluxe rakes
as well as Bharat Gaurav, Government of
Karnataka rakes.

ii.    State Tirth Special tours:

a.    State Special tours by Trains: IRCTC
operates the State Special Tourist Train
Tours in collaboration with various state
governments. The government selects
the beneficiaries of the tour package who
are mostly senior citizens. These train
tours cover various destinations of tourist
and pilgrim importance across India. In FY
2024- 25, IRCTC has operated 118 State
Special Trains for Delhi, Rajasthan, Madhya
Pradesh, Goa, Chhattisgarh & Odisha
Government carrying 91,536 tourists to
various pilgrim places whereas in FY 2023¬
24, IRCTC has operated 95 State Special
trains for Madhya Pradesh, Rajasthan,
Delhi, Goa, Odisha & Jharkhand and
provided services to 70,280 passengers.

b.    State Special tours by Air: IRCTC
operated State Special tours for elderly
residents of state through Air. These air
tours were organised for Rajasthan State
Government ex- Jaipur to Kathmandu on
regular basis and operated 121 tours for
total 4,667 passengers.

iii.    IRCTC Corporate Trains: Under the directives
of the Ministry of Railways IRCTC started
the operation of the corporate premium
passenger trains in 2019 with Lucknow-Delhi-
Lucknow (LJN-NDLS-LJN) Tejas Express
commencing operations on 5^th October, 2019
followed by commencement of Ahmedabad-
Mumbai-Ahmedabad Tejas (ADI-MMCT-ADI)
on 19^th January, 2020.

In FY 2024- 25, IRCTC has operated these
Corporate Trains on regular basis (i.e. 6 days a
week) and has been successful in positioning
the rake as a unique Corporate Train amongst
the travelling public. ADI- MMCT Tejas was run
at 90.8% occupancy level and LJN- NDLS Tejas
was run at 72.5% occupancy levels respectively.
IRCTC has been trying to further enhance
the occupancy of the trains by introducing
various offers to passengers in lean & peak
season along with dynamic pricing to attract
passengers, etc.

iv.    Election Special Trains: IRCTC has been
entrusted with the responsibility of moving
the Military and Para-Military forces deputed
for security duty for the general and assembly
elections from FY 2013-14 onwards. IRCTC has
been nominated as a Single window for booking
and movement of Election Special Trains along

with provision of on-board catering services to
the forces on movement. In FY 2023- 24, IRCTC
has successfully operated 542 Election Special
Trains connected with assembly elections
in Karnataka, Panchayat Election in Gujarat,
Assembly election in 5 states and General
Election 2024. However, IRCTC has operated
677 election special trains and provided services
to 6,09,983 para-military forces in FY 2024- 25.

5.    Special Purpose Tours:

i.    Educational Tours: IRCTC operates educational
tours for students under its “travel to learn”
scheme and has tie-ups with various State
Governments as well as private schools for
operating educational tours for their students.
During the year 2024- 25, IRCTC has operated
various educational tours where in total 1100
students approx. have been served.

ii.    Cultural Exchange tours: IRCTC operated

the    following Cultural Exchange tours in

FY 2024- 25 as:

a)    Kashi Tamil Sangamam 3.0 was operated
from Chennai to Ayodhya- Kashi -
Prayagraj which provided services to
1,280 participants.

b)    Yuva Sangam tours-an initiative by
Government of India under “Ek Bharat
Shresth Bharat” scheme to strengthen
people to people connect especially
between youth belonging to various States/
UTs. In FY 2024- 25,IRCTC has successfully
conducted 26 tours and provided service
to approx. 1306 participants.

6.    Other Tourism Activities

i.    Event Management: IRCTC has been
organizing various Conferences, Events
and Incentive packages for Indian Railways,
PSUs, Education Department and other
prominent institutions. In FY 2024- 25, IRCTC
has conducted various Events and provided
services to 822 members/delegates.

ii.    Booking of Charter Trains and Coaches:

Ministry of Railways nominated IRCTC as the
single window agency for online booking of all
trains and coaches on charter basis. The online
booking of FTR Trains/ coaches is done through
IRCTC’s exclusive web page, www.ftr.irctc.
co.in/ftr. IRCTC also provide list of trains where
coaches can be added to facilitate the customer,
which is updated on regular basis. During FY
2024- 25, 286 (113 trains & 173 coaches) charter
trains/ coaches were booked through IRCTC.

iii.    Hill and Heritage Charters: IRCTC actively
promotes the 5 Hill Railways of India viz Nilgiri
Mountain Railway (NMR), Darjeeling Himalayan
Railway (DHR), Kalka-Shimla Railway, Kangra
Valley Railway and Matheran Railway. IRCTC
operates hill charters over Kalka-Shimla, Nilgiri
Mountain Railway and Darjeeling Himalayan
Railways UNESCO’s “World Heritage Sites”.

In FY 2024- 25, IRCTC has operated Shimla
Kalka Hill Charter and served 25 pax.

iv.    Luxurious Railway Saloon Car: Ministry of
Railways has entrusted IRCTC with the task of
marketing and booking of Saloon Cars across
India which is now open to be booked by any
passenger or company as special rail products.

A Saloon Car generally has a living room, two
air-conditioned bedrooms - one twin bedroom
and the other similar to AC First Class coupe
with attached baths, dining area and a kitchen.

Optional services like in-house attendant,
catering, pick up and drop are arranged
as per demand of tourists. In FY 2024- 25,
IRCTC has successfully operated 27 Saloon
Cars across India.

v.    Online booking of Retiring Rooms at Stations:

IRCTC has been providing the convenience
of online booking of retiring rooms to Railway
passengers having confirmed PNR across 373
Railway Stations through IRCTC’s tourism portal.
Passengers can also book Retiring Rooms on the
go on Android and iOS mobile through IRCTC
App. Hourly booking facilities of Retiring Room
is also available at many stations. At present,
about 80% of total retiring room bookings of
Indian Railways are being done online.

IRCTC has upgraded retiring rooms at 54 stations
viz. Palakkad (PGT), Tiruchchirappalli (TPJ),
Bilaspur (BSP), Lucknow NE (LJN), Gorakhpur
(GKP), Tatanagar (TATA), Sealdah (SDAH),
Rajendranagar Jn (RJPB), Jaipur (JP), Vadodara
(BRC), Madgaon (MAO), Thivim (THVM), Lonavala
(LNL), Mumbai Central (MMCT), Agra Cantt
(AGC), Gwalior (GWL), Pune (PUNE), Bhusaval
(BSL), Solapur (SUR), Jalgaon (JL), Guntur (GNT),
Nanded (NED), Parbhani (PBN), Kazipet (KZJ),
Udupi (UD), Kacheguda (KCG), Karwar (KAWR),
Dahod (DHD), Kakinada Town (CCT), Hosapet
(HPT), Araku (ARK), Varanasi (BSB), Ayodhya
(AY), Thanjavur (TJ), Kota (KOTA), Lucknow
Jn (LKO), Ranchi (RNC), Rajamundry (RJY),
Kalaburagi (KLBG), Anand (ANND), Nadiad (ND),

Kopargaon (KPG), Adilabad (ADB), Anand Vihar
(ANVT), Maihar (MYR), Nasik (NK), Hubballi (UBL),
Saugor (SGO), Damoh (DMO), Dwarka (DWK),
Davangere (DVG), Bhopal (BPL), Durgapur (GDR)
& Srikakulam Road (CHE) under PPP model. The
upgraded retiring rooms have hotel like facilities
such as fully Air-conditioned rooms with Wifi, TV,
Geyser, linen, sofas etc.

In FY 2024-25, total bookings for Retiring rooms
was 8.78 lakhs with total revenue of H54.84
Crores as against 8.05 lakhs bookings with
revenue of H48.43 Crores during FY 2023-24.

vi.    Online Hotel Booking: IRCTC had integrated
accommodation partners (Hotel, Home stay,
Dormitories, paying Guest Houses, Yatri Niwas,
Holiday Homes, etc.) for online booking through
www.hotels.irctc.co.in and IRCTC Tourism
mobile apps - Android and iOS.

Further to boost hotel business, IRCTC has
integrated with Hotel Aggregators to widen
its offering of hotel inventory on IRCTC Hotel
website. Customers now can book more than
70,000 hotels across 2,773 cities with starting
tariff as low as H300. Most of the hotels are
located near Railway Stations, Airports and
City Centers. In 2024-25, there were 25,308
bookings with gross revenue of HI7.03 Crores
as against 12,990 bookings with gross revenue
of H4.14 Crores during FY2023-24.

vii.    IRCTC accomplished its most ambitious project
of establishing and providing services to tourists
at Prayagraj in “IRCTC Mahakubh Gram” Tent City
during Mahakumbh 2025 from 10^th January to
27^th February 2025 constructed at a distance of
around 3.5 Km from Triveni Sangam. The facility
offered Super Deluxe and Villa Tents equipped
with modern amenities with attached bathroom,
24 x 7 hot and cold water, dining facilities,
medical support and CCTV surveillance. More
than 9500 tourists availed the stay in the tent
city of IRCTC during one of the largest religious
congregation of the world. IRCTC also operated
8 Bharat Gaurav Trains with pilgrims to Prayagraj
to attend Mahakumbh originating from various
destinations of the country such as Pune ,
Secunderabad (2 Trains), Tirunelveli, Indore,
Rajkot, Udaipur and Kolkata who availed the
lodging facilities at IRCTC Mahakumbh Gram
Tent City. IRCTC earned a gross revenue of
H7.55 Crores from the Tent City Business.

viii.    Online Bus booking: In January 2021, IRCTC
launched a dedicated Bus Portal www.bus.

irctc.co.in for facilitating its customers to buy
bus tickets online. Subsequent to launch of the
Bus Portal, IRCTC endeavours to be a One-
Stop Travel Solution Provider to the customers
to choose from either or all three modes of
transportation viz. Air, Rail and Road. Presently,
online bus booking can be made across 28
states and 4 UTs.

M/s. LE TRAVENUES TECHNOLOGY LIMITED
(AbhiBus) and M/s. REDBUS INDIA PRIVATE
LIMITED (RedBus) have been engaged as
empanelled service providers. The sourcing of
bus inventories on IRCTC Bus Portal has been
implemented through API Integration done with
Abhibus & Redbus.

In FY 2024-25, total no. of passengers who
have availed the IRCTC online bus booking
service were 1,93,479. Total no. of TIDs booked
during the FY 2024-25 were 1,24,314.

On an average about 340 bus tickets were
booked per day through IRCTC Bus Portal in FY:
2024-25 as against an average of 345 tickets
booked per day during FY 2023-24. There has
been decrease of approx. 1% in passengers
travelled and increase in approx. 4% in the
revenue generated in FY 2024-25 as compared
with that of FY 2023-24.

ix.    IRCTC Mobile Apps: In a step towards
promoting IRCTC products, the company has its
user-friendly Travel and Tourism Mobile Apps for
Android and iOS users. It hosts various products
& services like Bus, Flights, Hotels, Retiring Room,
Lounge, Tour Packages, Bharat Gaurav, Cruise,
Buddhist Train, Maharajas, Golden Chariot,
National Rail Museum, Trains at a Glance, Train
Tickets, Heliyatra & Digital Memories.

x.    Tourism Portal:

In the era of modern technology where internet,
websites and apps are being widely used in
the world, IRCTC has realised its potential of
growing as an Online Travel Agency. IRCTC’s
portal offers on-line booking of Tourist Trains,
Air tickets, Tour packages be it through rail, air
or land, Hotel, Saloon Cars, AC Tourist Trains,
Event Management, etc. To be at par with the
user friendliness and facilities which other OTAs
offer, IRCTC has revamped its tourism website.

In FY: 2024-25, total transactions generated
were 11,01,752 for 21,22,743 passengers with
a gross revenue of H677.92 Cr, in comparison
to 10,23,785 transactions and 23,17,989

passengers with the gross revenue of H773.68
Cr in FY 2023-24.

xi.    Trains at a Glance (TAG): The Trains at a Glance
- time table of Indian Railways with a high
readership gives detailed information about
routes, timings of important passenger trains,
premium trains; other details which are handy
for rail travel such as reservation procedures,
rules and regulation of travelling, passenger
amenities on trains and in stations including
catering, menu types and rates, and also about
rail-based tourism. IRCTC has been entrusted
with the work of printing and publishing of TAG.

Railway Board has entrusted IRCTC with printing
and selling of TAG online. IRCTC has been
printing and publishing Trains at a Glance for
Indian Railways since 2018 with the 41^st, 42^nd,
43^rd, 44^th& 45^th edition launched in 2018, 2019,
2022, 2023 & 2025 respectively.

Also, Trains at a Glance - 2025 is available in
digital format as “e-Book”. e-Book TAG-2025
(English) was made live on 08.01.2025 & e-Book
TAG-2025 (Hindi) was made live on 27.01.2025
respectively. Physical Book TAG-2025 was
made live on 11.02.2025.

Total 15,236 books including Physical & e-Book
of TAG-2023 were sold out with a gross revenue
of H11.88 lakhs as compared to the 12,941 total
books including Physical & e-Book being sold
out with a gross revenue ofH14.67 lakhs as
compared to the TAG-2022.

xii.    Indian Railway Magazines: IRCTC has opened
its new segment by providing a separate online
platform for booking of two Annual Railway
Magazines (both in English & Hindi) - Indian
Railways & Bharatiya Rail on 01.10.2020 which
has enhanced the reach of magazine to huge
prospective readers due to digitalization.

Presently, these magazines are also being
booked in digital format as “e-Magazine”,
and started getting good response from
the subscribers.

In FY: 2024-25, total TIDs generated were 660
with a gross revenue of H1.83 lakhs as against
504 TIDs generated with a gross revenue of
H1.58 lakhs during FY: 2023-24.

xiii.    Online Ticketing for National Rail Museum

(NRM): Online Ticketing System of National
Rail Museum (NRM), Chanakyapuri, New Delhi
is being managed by IRCTC since 14^th April,

2022 by facilitating visitors, who wish to book
their online tickets in advance through website
(www.nrmindia.org) for visiting Museum, and
for different Rides. Institutional Bookings
by Schools & other Institutions are also
enabled in the system.

Ticket booking can be made via multiple
payment modes, i.e., Credit/Debit cards, Net
banking, Wallets, UPI, etc. Further, counter
bookings are also enabled with POS machines
for digital payments.

QR codes enabled tickets can be scanned
through the Mobile App provided to the Ticket
checking staff at the different counters for
facilitating the easy entry of visitors.

In FY: 2023-24, 81,921 tickets were booked with
a transaction value of H2,52,47,922, where as in
FY 2024-25, 69,961 tickets were booked with a
transaction value of H2,08,82,893.

xiv. Heliyatra: IRCTC has tied up with Uttarakhand
Civil Aviation Development Authority (UCADA)
for providing Helicopter ticket booking system
for passengers to visit Shri Kedarnath Dham.
IRCTC has developed the Helicopter ticketing
website: www.heliyatra.irctc.co.in and has
successfully launched online Helicopter ticket
booking from 08.04.2023 for Shri Kedarnath Ji.
IRCTC also expanded online Helicopter ticket
booking for Hemkund Sahib Ji from 22.05.2024.
IRCTC has signed an MoU with UCADA for a
period of 5 years.

The online ticketing system for Helicopter
service to visit the Holy Shrine of Shri Kedarnath
Dham and Shri Hemkund Ji Sahib by the
pilgrims, is a prestigious project for IRCTC,
which is unique with complexities and multiple
variations. IRCTC is handling administrative
& Technical operations, Payment Gateway
accounting/ reconciliation, etc.

In FY 2024-25, total 74,497 tickets were booked
for 1,98,916 pilgrims, with total transaction value
of H122 Cr., and IRCTC Convenience Fees
amounting to H5.64 Cr. (Excl. GST).

Tourism Planning

IRCTC being a tourism arm of Indian Railways, in initial
phases, IRCTC has developed and promoted more of Rail
based tourism products. But to manage the competition in
the market, IRCTC has also launched and operated various
non- rail-based tourism products. With this extremely
diversified tourism product lines, there is tremendous
scope of growth in the field of tourism and it is seen that as

per the projection given by WTTC projects robust growth
for the Travel & Tourism sector in the next 10 years (2024¬
2034), with a compounded annual growth rate (CAGR) of
6.1% for the global economy.

IRCTC has been adding new feathers into its cap by
launching more Rail was well as non-rail based tourism
products to further enhance and consolidate tourism
business in the coming years.

IRCTC has been mandated to promote domestic tourism
with launch of "Bharat Gaurav Trains” which are also being
used for operation of State Special tourist trains. Also to
promote International Tourism, more of outbound tour
packages are being launched.

IRCTC is having in total 10 Bharat Gaurav rakes which
have been utilised to promote domestic tourism across
India and operation of 01 rake of Karnataka Govt is also
managed by IRCTC. These rakes have been kept with
minimum composition of 14 coaches.

However Specific thrust areas of the company identified
now for the coming financial year 2025- 26 are:-

1.    Bharat Gaurav Trains: To increase the business
from Bharat Gaurav Trains, IRCTC is taking additional
rake under BGT policy. It is expected that IRCTC will
operate 200 trips in FY 2025- 26 including State
Special Train Tours. The popular Bharat Gaurav
circuits are Sri Ramayana Yatra, Bharat Nepal Yatra,
Char Dham Yatra, Dakshin Darshan Yatra etc. and
specially curated circuits include Chhatrapati Shivaji
Maharaj Circuit, Guru Kripa Yatra, Jyotirlinga Yatra, Jain
Circuit Yatra, Baba Saheb Ambedkar Circuit Yatra etc.

2.    Rail Tour Packages: In previous year, IRCTC has
launched more than 100 Rail Tour Packages. In FY
2025-26, IRCTC will focus more on rationalisation of
RTPs and increase of occupancy of these packages.

3.    Golden Chariot: IRCTC has already launched the
dates of Golden Chariot for FY 2025-26, 2026- 27 &
2027- 28 for future planning and making the product
available in Domestic & International market.

4.    Cultural Confluence and exchange program under
EBSB (Ek Bharat Shreshta Bharat) scheme: IRCTC
with Ministry of Education will operate Yuva Sangam
Tour for identified HEIs as cultural exchange program
to give exposure to students about culture, heritage
and local touch.

5.    Customised Holiday packages: On the basis of
demand of customers, IRCTC will plan and develop
more customized packages for small groups of
family and friends, which will give tailor-made
variety to customers.

6.    Outbound tours: To provide competitively priced
packages for IRCTC international tours as well as
promote ease of Business, IRCTC has emphasized on
flexibility in policy guidelines, vendor diversification,
quality deliverables as well as imbibing cost & quality
competitiveness.

7.    Domestic Air Packages: Special thrust has been
given for this segment and the plan is to increase the
business tremendously. Focus on DMC strengthening
with quality deliverables is being ensured.

8.    State Special tours by Air: The operation of State
Special tours by Rajasthan was a resounding success
carrying 4,667 pax across 121 Tours from Jaipur
to Delhi and onwards to Kathmandu with similar
return scheduling. The Concept is being planned to
emulated across other states.

9.    Online Hotel Business: Presently IRCTC has
business tie ups with one of the leading OTAs for
providing online hotel room inventory. Apart from
that, IRCTC also does direct tie ups with individuals
and chains. Further, IRCTC is in the process of
establishing tie-ups with more hotel chains and room
inventory providers for increasing its business and
offerings to customers.

10.    MICE: There is a huge potential in this segment.
IRCTC is aggressively pitching itself as a potential
MICE player to tap the market by approaching
Corporate Houses and Ministries for conducting
Meetings, Incentive Tours, and Conferences etc.

INTERNET TICKETING

IRCTC’s internet ticketing website and mobile application
empower passengers to book railway tickets effortlessly from
the comfort of their homes, offices, or any location-eliminating
the need to visit a Passenger Reservation System (PRS) counter
in person. This digital convenience not only saves valuable time
but also greatly minimizes the hassle traditionally involved in
railway ticket booking.

With over two decades of remarkable growth, IRCTC has evolved
into one of the largest e-commerce platforms in the Asia-Pacific
region. This robust growth has empowered the common man
to harness the benefits of modern technology, making online
ticketing more accessible, convenient, and affordable.

In 2024-25, IRCTC’s Website and Mobile App facilitated 86.38%
of all reserved ticket bookings on Indian Railways, reaffirming its
leadership in online rail ticketing.

The site offers round-the-clock ticket booking services, except
for a 35-minute break from 23:45 hrs to 00:20 hrs. In the
financial year 2024-25, the IRCTC Website and Mobile App
recorded an average daily ticket sale of 13.88 lakh tickets,
registering an increase of 11.84% from the previous financial

year's daily average of 12.38 lakh tickets. These numbers
highlight the system's impressive growth and ascendancy in the
Indian e-commerce space.

Convenience Fee:

IRCTC collects Convenience Fee on e-ticket bookings at the
rate of H15/- + GST per ticket for Non-AC Classes and H30/- +
GST per ticket for AC Classes (including First Class/FC). For
those users, who make online payment for e-tickets through
BHIM/UPI payment mode, Convenience Fee is charged at a
reduced rate @ H10/- + GST per ticket for Non- AC Classes and
H20/- + GST per ticket for AC Classes (including First Class),
to promote digital payments, thereby fulfilling the Digital India
mission of the Government of India.

Internet ticketing through Ask Disha Chatbot:

Ask DISHA Chatbot (Digital Interaction to Seek Help Anytime),
an AI and Machine Learning-based innovative system, has
significantly improved upon traditional customer support
mechanisms. This advanced feature has streamlined the
booking process, offering quicker resolutions and an enhanced
user experience. The steady growth in bookings facilitated
through Ask DISHA is a clear indicator of its effectiveness
and reflects the promising future of AI-driven assistance in
passenger services.

Overview:

a.    Internet Ticketing: With a transaction volume of more
than 422.11 Lakh per month and 82.58 Lakh logins per
day, the Company operates one of the most popular and
transacted websites in the Asia-Pacific region. During FY
2024-2025, on an average 13.88 lakh tickets per day
were booked online for approx 24.41 Lakh passengers
per day for travelling on Indian Railways, which comprises
of approximately 86.38% of Indian Railways’ reserved
tickets booked online.

b.    NGeT System: Since the Next Generation E-Ticketing
(NGeT) System was implemented as a replacement for the
previous e-ticketing system, it has increased progressively
in per-minute ticket booking capacity from 2000 to
7200 tickets, which improved the system's efficiency. In
addition, a state-of-the-art data center has been setup in
CRIS premises at Chanakyapuri, New Delhi, to support

the upgraded system, increase the capacity and inflow of
daily bookings which is regularly updated to keep up with
technological advancements. The Company has a strong
customer database and leverages the same to crosssell
and add value to its products to enhance customer
engagement and derive top-line growth.

The NGeT System has now capacity to book over 30,000
tickets per minute, making it one of the most efficient
online ticketing systems globally. We have achieved
Highest ticket booking record of 30,155 tickets in a minute
on 12-March-2025 at 10.01 AM date.

The NGeT System's outstanding performance and success is another break through in IRCTC's commitment to innovation and
technological advancement. The magnificent growth, efficiency and seamless experience have enabled millions of people to
access affordable and convenient online ticketing service, further solidifying its status as a leading e-commerce website.

c. IRCTC Rail Connect Mobile App e-ticketing: During FY 2024-25, average mobile ticket booking was 7.47 Lakhs per day, with
14.63 Crore downloads on the Mobile App and Daily Mobile Logins as 59.79 Lakhs. During FY 2024-25, more than 2725 lakh
tickets were booked using Mobile App, as against 2322 Lakh tickets booked in FY 2023-24. IRCTC Rail Connect Mobile is
one of the top most rated Mobile Apps of India in Google play store.

Rail Connect Mobile App is available on both Android and iOS: platforms.

d.    IRCTC i-Pay - Payment Aggregator: IRCTC’s own Digital Payment Gateway- IRCTC i-Pay (A PCI-DSS Compliant Payment
Solution) is a one-stop payment solution which facilitates payments through all payment modes (like Internet Banking, Debit
Card, Credit Card, Wallets, UPI Account & Autopay) and for safe and secure transaction between the merchant website, multiple
issuing institutions, acquiring banks and the payment gateway providers. During FY 2024-25, i-Pay has generated a revenue of
H126 Crores with growth of 9.99% in comparison of revenue of H115 Crores in last FY 2023-24.

e.    To expand the PA business beyond IRCTC, IRCTC has established a subsidiary, IRCTC Payments Ltd, on February 10, 2024. The
RBI authorization is currently in process, with an application for In-Principle Approval submitted on December 12, 2024. Final
authorization is expected within a year. IRCTC Payments Ltd’s entry into the country’s payment ecosystem, primarily targeting
the Government/PSU sector, is anticipated to boost ongoing digitization of payments and will create new opportunities for
business growth and technological development for IRCTC.

f.    New User Interface (UI): IRCTC has been constantly
contributing to enhance the customer experience and
convenience while booking reserved rail e-tickets through
its Website and Rail Connect Mobile App with the aim of
retaining its customer base. Keeping in mind the same,
IRCTC had launched the New User Interface of e-ticketing
Website and Mobile App with modified functionalities and
some additional features. Revamping of IRCTC e-ticketing
user interface was a Digital India initiative, which promises
to transform the service delivery experience offered
to travellers. Further, the New Interface for e-ticketing
enhances user experience and facilitation of the IRCTC
Website www.irctc.co.in and the IRCTC Rail Connect
Mobile Apps (Android & iOS: Platforms) with user-friendly
features and more comfortable navigation, which is
secured with advanced data systems and processes. The
look-and-feel of the interface is being changed with time,
with a simplified and appealing design.

g.    IRCTC Payment System: Diverse payment methods
and high transaction success rates are critical for the
growth of e-commerce and the enhancement of customer
experience. IRCTC is supporting a broad spectrum of
payment options, including Internet Banking, Credit &
Debit Cards, Digital Wallets, UPI, Book Now Pay Later
(BNPL), EMI, and iPay Autopay. This system is seamlessly
integrated across the IRCTC NGeT Rail Ticketing website,
mobile application and other integrated digital platforms.

For international users, IRCTC enables ticket bookings via
International Cards through integrated secure payment
gateways. The transactions on the IRCTC platform are
secured through OTP/PIN/Password verified and also 3D
Secure Authentication protocols (including Verified by
Visa, Master Card Secure Code, and American Express
Safe Key) are in place, as well as by the National Payments
Corporation of India (NPCI) for RuPay and UPI payments.

To ensure maximum security and data privacy, all payment
transactions are conducted via secure URL redirection
method in encrypted format which eliminates the risk
of data leakage. Through server to server calls, attacks
against man-in-the-middle are safeguarded thus ensuring
complete transaction integrity.

h. Tatkal Scheme for Reserved Tickets: The Tatkal charges
have been fixed as a percentage of fares at the rate of 10%
of the basic fare for second class and 30% of the basic fare
for all other classes subject to minimum and maximum limits.
Tatkal tickets are issued for the actual distance of travel,
instead of end-to-end, subject to the distance restrictions
applicable to the train. The same Tatkal berth/seat may
be booked in multiple legs till preparation of the charts.
At the time of preparation of charts, the unutilised ones
are released to the General RAC/Waiting list passengers.
Tatkal booking opens at 10 AM for AC Classes and 11 AM
for Non-AC Classes for normal users. Tatkal tickets can

be booked one day in advance from the train originating
station excluding the date of journey of enroute stations.
The scheme is available on www.irctc.co.in and IRCTC Rail
Connect Mobile App where customers can book tickets on
the Tatkal scheme seamlessly.

i.    VIKALP Scheme: Travellers who have been put on the
waiting list, irrespective of a booking quota or concessions,
can choose maximum five trains under this scheme.
It does not confirm a berth, since it depends on the
availability of seats in the given train. There is no refund
or extra fare charged for these changed trains, including
the Tatkal prices. Either all passengers of a PNR opting for
this scheme will be transferred to alternate trains in the
same class or none will. Once confirmed in an alternate
train, the cancellation charges apply as per the usual
rules. A person can be transferred to any train available
within the window as per selection made by the user. The
train list once selected under VIKALP can be changed or
updated only once.

j.    Loyalty Program: In 2020, IRCTC and SBI launched a
new co-branded contactless credit card on NPCI's RuPay
platform. Subsequently, in Feb 2022, IRCTC collaborated
with Bank of Baroda to introduce the BOB Loyalty Co¬
Branded Credit Card on the RuPay platform. In another
stride towards enhancing its Co-Branded Credit Card
cum Loyalty Program, IRCTC partnered with HDFC Bank
in March 2023 and with RBL BANK in July 2024, to launch
two new Co-Branded Credit Cards in collaboration with
both banks on the indigenous RuPay platform. These co¬
branded credit cards offer frequent rail travellers significant
savings on their journeys and special benefits on retail,
dining, and entertainment, along with transaction fee
waivers. In addition, these collaborations have contributed
in increasing the traffic on their website and app, which
in turn generated a revenue of H39.54 Crores in Financial
Year 2023-24 and H44.48 Crores in Financial Year 2024-25.

k.    BHIM/UPI Payment Mode: During FY 2024-25,
total BHIM/UPI transactions were 2344.04 which is
46.28% of total online ticketing as against 1792.72
transactions in FY 2023-24.

l.    Travel Insurance: IRCTC introduced the travel insurance
for Indian citizens who use the IRCTC website application
to book their tickets. The travel insurance provides
accidental coverage to passengers during their travel with
the Indian Railways. In case of an accident due to collision
between trains, derailing of the train carrying passengers
or any other kind of train accident, the passengers or the
nominee can claim compensation. The coverage of the
policy is on a PNR basis and includes death, permanent
total disability, permanent partial disability as well as
hospitalisation charges. This travel insurance, up to B
10 lakhs, is provided to passengers who opt for it by
paying a premium B 0.45 per passenger. During the fiscal
year, a total of 53.43 Crores passengers have opted for
Travel Insurance.

m.    Concessional Booking: The concessional booking
facility is also available for Divyang (physically challenged)
passengers for booking of online tickets on IRCTC’s
Website and Mobile Apps using ID cards provided by the
Indian Railways.

n.    Online Booking for Railway Pass Holders: Online
booking of Reserved Rail ticket, using the Railway Pass has
been implemented for Railway employees. Convenience
Fee and Travel Insurance is not applicable for these
bookings. During FY 2024-25, 38.69 lakh tickets were
booked online using Railway Pass/PTOs as compared to
33.67 lakh tickets in FY 2023-24.

o.    E-ticketing Portal for Para Military Forces: IRCTC’s
e-ticketing facility has proved to be an extremely convenient
tool for the Paramilitary Forces for handling their reserved
train e-ticket requirements. It has also eliminated the need
for cumbersome manual processes of railway warrant
management, the reconciliation and accounting between
Indian Railways and the Ministry of Home Affairs.

IRCTC has developed a dedicated website to maintain the
e-ticketing system along with the Warrant Management
System for booking of e-tickets through this portal to
travel in trains in a hassle-free manner. As a result, there is
continuous growth in ticket booking. During FY 2024-25, a
total of 12.32 lakh tickets were booked through paramilitary
forces, which is 15.36% more, as against 10.68 lakh tickets
booked in FY 2023-24.

Presently we are serving Seven Central Paramilitary
Forces, namely AR (Assam Rifles), BSF (Border Security
Force), CISF (Central Industrial Security Force), CRPF,
ITBP (Indo Tibetan Border Police), NSG (National Security
Guard) and NDRF (National Disaster Response Force).

p. Data & Cyber Security: The Company relies on state-
of-the-art technologies to ensure that the confidentiality,
integrity and availability of all its online services and its
data are adequately secured from the prevailing cyber
security threats. The Company safeguards its data with
advanced security systems and successfully defends the
system against malicious virus or other cyber threats.

IRCTC’s E-Ticketing System is a well-protected system,
equipped with industry-standard state-of-the-art security
technologies for protection from cyber threats and data
theft. This includes Network Firewalls, Network Intrusion
Prevention System and Web Application Firewalls, DDoS
Protection Services etc. The website runs on an Extended
Validation (EV) SSL/TLS Certificate that provides end-to-
end data encryptwwion between the website and its users.
Sensitive data like user passwords are stored in encrypted
form in the database. In continuous efforts to improve the
security posture of NGeT System, IRCTC has engaged CERT-
In empanelled Security Auditor for Bi-Annual Cybersecurity
Audit of Applications and ICT infrastructure.

All online payment integration, including net banking and
Credit/Debit Card are implemented on the URL-redirection
model wherein all users are redirected to concerned
banks/payment gateway websites for the on-line payment
process, fully eliminating any chance of Credit/Debit card
data leakage at the IRCTC end.

The company has deployed a number of security
solutions viz. Web Application Firewalls, Privileged Identity

Management, Secure Email Gateway and Malware
Sandboxing solutions, DDoS Protection Services (Clean
Pipe Services) etc. with the objective of enhancing its
cyber security posture for its Travel & Tourism and Catering
services. A Vulnerability Management Solution has been
deployed by IRCTC for overview of vulnerabilities in its
environment and timely remediation of same.

In order to provide secure and reliable remote access
to its enterprise applications for its workforce, a Zero-
Trust based Secure Access Solution with multi-factor
authentication capability has been implemented. The
solution will allow IRCTC workforce to safely log in to
corporate applications and desktops any-time any-where
and to access private applications/systems they need to
be efficient and productive.

Information Security Policies, including Privacy Policy, of
IRCTC are uploaded on IRCTC Corporate Portal (under
Employee Login). The web link is not available publicly.

Internet Ticketing Statistics:

a. No. of E-Tickets and Passengers Booked: A total of
5065.28 lakh tickets have been booked in 2024-25 as
compared to 4529.83 lakhs tickets in 2023-24 registering
a growth of 11.82%. In total, 8910.54 lakh passengers
booked E-Tickets in 2024-25 as compared to 8025.06
lakh passengers in 2023-24 registering a growth of 11.03%.

b. The ratio of Passenger to Ticket during the year was 1.76:1.

Tickets Vs Passengers

c. E-ticketing Revenue Collection: During the year 2024-25, an amount of B 70,214.71 crores was collected as Ticket Fare from the
users as E-ticketing revenue, which is 13.73% more than the last year’s collection of H61,736.71 crores.

Year Wise e-Ticketing Fare Revenue Collected (K in Cr.)

d. Growth of Online Reserved Rail Ticketing

Year Wise e-Tickets Booked (in Lakhs) & Growth (in %)

e. Segment-wise Online Ticket Booking Share 2024-25

Segment Wise e-Ticket Booking %age FY 2024-25

New Initiatives taken during 2024-25

a)    New services added on IRCTC Website and Mobile App

during FY 2024-2025:

1.    Booking of DMRC QR based ticket under- ”One
India One Ticket” Initiative through IRCTC website
& Android Mobile App w.e.f - 10^th July 2024 & iOS
Mobile App w.e.f.- 31^st July 2024).

2.    Time limit for advance reservation ARP Booking
(reduced from 120 days to 60 days) in IRCTC Website
& Rail Connect Mobile App w.e.f. 01.11.2024.

3.    RBL Bank Cobrand Credit Card integrated under IRCTC
Loyalty Program on IRCTC Website w.e.f. 14.09.2024
and on IRCTC Mobile App w.e.f. 01.02.2025.

4.    IRCTC SBI Loyalty Programme has been enhanced
by integrating the SBI Rupay Premium Credit Card, on
website effective from 01.10.2024.

5.    Option of selecting Catering Service option as
Jain Meal, Veg (Diabetic) & Non Veg (Diabetic)
implemented in all the pre-paid trains on Website
w.e.f. 30.09.2024 and on Mobile App (Android & iOS)
w.e.f. 20.09.2024.

b)    New services added on Marketing during FY 2024-2025:

1.    Push Notification Services on IRCTC Website and
Mobile App: 929.74 crore push notifications for IRCTC
in-house items were sent to subscribers nationwide
using this facility. These alerts included information
about various IRCTC goods, like bus booking,
Ramayana Yatra, e-Catering, Bharat Gaurav tourist
trains, and many more.

2.    New Feature of Gen AI is integrated on AskDisha
Chatbot w.e.f. 31.12.2024. Have implemented Voice-
to-text and text-to-voice capabilities over generative
response layer to provide accessibility and enhance
the user experience in Ask Disha Chatbot.

Highlights of Internet Ticketing FY 2024-25

I. IRCTC e-ticketing platform has achieved highest
ever per minute booking record of 30,155 on
12-March-2025 at 10:01 AM.

2.    IRCTC e-ticketing platform has achieved highest booking
in a day record of 16,17,404 on 6-March-2025.

3.    Total number of tickets booked were 5065.28 Lakhs,
which is 11.82% more than last year.

4.    Total 14.63 Crore Mobile App (on Android & iOS:)
Downloads till 31^st March, 2025.

5.    Mobile Bookings: The average Mobile App bookings
during 2024-25 were 7.47 Lakh tickets per day, as
compared to 6.34 Lakh tickets in 2023-24. 53.80% of
IRCTC e-tickets have been booked through IRCTC Mobile
App during FY 2024-25.

6.    Share of Reserved Rail tickets booked online was 86.38%
in 2024-25, as compared to 82.68% of the reserved tickets
booked online in 2023-24. There has been continuous
increase in online booking share over the years.

7.    Achieved the highest-ever one-day Google Ad Manager
revenue more than H14 Lakhs on 27.10.2024.

Future Strategy:

IRCTC with its optimistic outlook has planned to bring into its
system some new projects which not only promise to promote
IRCTC Brand name but also proves the company’s expertise
and adaptability to latest innovative technologies in vogue in the
market place. At the same time, it is also anticipated to create
new businesses and thereby generate additional revenues
for the company. IRCTC is not only widening its business
arena, but also using innovative technologies in vogue, for
system improvement.

Following are some future projects to be undertaken by
Internet Ticketing:

1. Same Day Online Refund:

IRCTC has been constantly contributing to enhance the
customer experience and convenience for reserved rail
e-tickets through its Website and Rail Connect Mobile
App with the aim of retaining its customer base. IRCTC
e-ticketing system has to address the payment and
refund issues which is the main reason for the largest
number of complaints.

The earlier traditional file based method of refund were
getting initiated for refund to user on T+1 day. However,
towards improving efficiency in Refund with respect to
Delayed and Failed transactions and reducing customer
complaints, now, IRCTC has implemented its own
functionality of ”Same Day Refund Initiation API” for failed
transaction cases (where user’s Account gets debited and
ticket not booked) of online Rail e-ticket transactions to the
Users on same day of transaction.

The first step put forward in this process was laid in the
month of December’2023. Now all such transactions are
being initiated for refund on the same day. *The next

step put forward, Same day refund initiation for user
cancelled tickets and Waitlist drop tickets implemented
w.e.f. 07.08.2024, all such refund will be initiated same day
for cancelled ticket also.* The refund for the transactions
done through UPI are being refunded on the same day in
user’s account.

2.    IRCTC Unified Portal and Super App:

IRCTC is providing various travel, tourism & related
services to its customer viz. Air, Hotel, Bus, Packages,
Retiring Room, Cruise, Train Tickets, Cabs, Helicopter,
eCatering, Lounges, B2B & B2C, etc. The present services
are rendered with multiple URLs.

IRCTC aspires to revamp the legacy system into a unified
portal encompassing the existing multiple services and
adding new services along with a Super App containing
all the services as a one stop solution. The complete
revamp will be based on Mobile first approach using state
of the art technologies including generative AI, with an
objective to simplify and enhance user experience and
assist the user to plan and book an end to end travel
experience. The end to end revamp and development as
a scalable, reliable and customer-centric platform involves
creation of UI/UX, front end, middleware, and backend
IT infrastructure hosted on cloud, network and Security
infrastructure. The product/solution will be designed to
seamlessly incorporate future products or services that
IRCTC may introduce during the contract term.

The single unified application utilizing generative AI and
ML will help the customer plan and book an end-to-
end experience. This will require use of state-of-the-art
technologies as well as building of best in class/ exhaustive
inventories including but not limited to Air, Road, Rail,
Hotels, Packages, Cruises, Experiences etc.

3.    Online & Offline Passenger Ship Ticket Booking System
for Lakshadweep:

IRCTC has been awarded with the project to develop,
host and maintain online & offline Integrated Passenger
Ship ticket booking system for Lakshadweep by the
Union Territory of Lakshadweep Administration (UTLA)
for a period of 10 years. The scope includes developing
a highly scalable, agile, secure, state-of-the-art and user
centric ticketing system that will enhance the experience
for passengers, promote operational efficiency and
support the long-term transportation goals of UTLA.
Besides this, the online Cargo booking & Helicopter
booking in Lakshadweep may also be taken up by IRCTC
at a later stage.

4.    Marketing revenue is envisaged to increase multi-fold
over the next 5 years through the premiumisation of
Ad inventory using the rich data inputs of IRCTC. IRCTC
aims to transform the marketing strategy powered by AI/
ML analytics and enhanced user engagement, better

compliance with evolving data protection norms, potential
for cross-selling IRCTC products and full control over
ad operations. IRCTC envisions to become a leader
in data-driven digital advertising to deliver contextual,
personalized and compliant advertising experience.

5.    iPay:

As mentioned above , subsequent to obtaining PA
authorization from RBI, IRCTC Payments Limited will
expand its market reach in a phased approach, adapting
to evolving business requirements.

IRCTC Payments Limited, as Government-backed Payment
Aggregator, will have transformative impact on nation's
payment ecosystem which will directly contribute to further
strengthening the Digital India initiative. As India transitions
toward a cashless economy, IRCTC Payments will catalyse
financial inclusion, drive digital payment adoption, and
enhance transaction efficiency across various sectors

6.    Other Ticketing and OTA Initiatives:

i.    With its past experience in e-ticketing domain viz.
CWG Ticketing, the current Char Dham Heli Yatra
portal (Kedarnath and Hemkund Sector) as well
as ticketing services over Metro Corporations and
various upcoming projects such as RRTS Metro
Services, Lakshadweep and Andaman Ferry
Ticketing, IRCTC aspires to become an e-ticketing
giant in the travel and leisure sectors. The online
ticketing platform shall be able to provide such
services for multiple use cases on commercial basis
which may be integrated with the unified portal as per
user requirement.

ii.    IRCTC can quickly venture into event booking for self
and third parties. IRCTC can venture into ticketing for
Central and State Governments. Providing ticketing
as a service and capturing new business in event
booking shall also be explored and established.

iii.    The ticketing/ OTA vertical of IRCTC will be a new
focus to boost exponential growth.

iv.    All Government Manual Warrant systems, like those
of the state police department will be made digital
on the lines of the paramilitary portal as part of the
unified portal.

This will increase the share of internet ticketing
to more than 90% coupled with Infrastructure and
Technological Upgrades.

7.    Towards One India - One Ticket Initiative:

a) QR Based Tickets of DMRC (Delhi Metro Rail
Corporation): For enhancing the convenience of the
passengers in transit while arriving or leaving Delhi,
IRCTC has already started the booking of DMRC QR
based ticket under- ”One India One Ticket” Initiative

through its website & Android Mobile App w.e.f - 10^th
July 2024 & iOS Mobile App w.e.f.- 31^st July 2024.
The project has been accepted very well amongst
the passenger fraternity.

b) Namo Bharat Train By RRTS (Regional Rapid Transit
System) In a significant step towards enhancing the
convenience and ease of travel for passengers, the
Indian Railway Catering and Tourism Corporation
(IRCTC) and the National Capital Region Transport
Corporation (NCRTC) have entered into a
Memorandum of Understanding (MoU) to introduce
QR code-based ticketing for NCRTC services through
the IRCTC portal.

Under this partnership, passengers shall be able to book
online tickets for NCRTC journey through the IRCTC
platform will have the added convenience of seamlessly
booking NCRTC QR code-based tickets. These QR
tickets can be issued in sync with the 60 days Advance
Reservation Period of Indian Railways. By integrating these
services, passengers can effortlessly plan their entire
journey in one go. The NCRTC QR code-based ticket will
be seamlessly generated and printed on the Electronic
Reservation Slip (ERS). This integration aims to streamline
travel experiences, eliminating the need for passengers to
endure long queues and saving valuable time.

8.    Flutter:

Flutter is a development tool used for building beautiful,
natively compiled applications for Android, iOS & Website
from a single code. It's known for its cross-platform
capabilities, allowing developers to create native-like
applications on various platforms with lesser effort and
time keeping all platforms in sync. This will help to maintain
the native IRCTC Apps (for iOS and Android devices) in a
single flutter code for both platforms. It will also reduce the
additional manpower requirement for iOS.

9.    Co-Branded Credit Card cum Loyalty Program:

IRCTC had introduced its Loyalty program in collaboration
with the leading Credit Card issuers in India, whereby
frequent travellers earn travel reward points at the time of
booking rail tickets at IRCTC portal using the card issued
by the card issuer. These points may be used to book
tickets later.

Ultra filtration - Colloidal, suspended particles and pyrogenic
species are filtered out through Ultra Filtration membranes.

6. UV sterilization - UV-light causes change in the genetic
material of micro organisms and thus prevents them
from reproducing.

Rinsing, Filling, and Capping:

Bottles are air-conveyed to automatic RFC (Rinsing, Filling &
Capping) machine. Bottles are rinsed using high-pressure jets,
filled using precision nozzles, and capped in a controlled 20°C
environment-ensuring superior product integrity.

Company’s continued focus on welfare schemes, employee
engagement, and social security has reinforced its position as
a progressive public sector enterprise committed to the holistic
well-being of its workforce.

As on 31^st March, 2025, the Company had a total manpower
strength of 2794 personnel with the following details:

#Engaged through Manpower Service Provider Agency for providing
support services.

The percentage of women employees, SC/ST/OBC employees,
person with disabilities and ex-servicemen out of regular
employees of the Company is mentioned below:

Employee Welfare and Digital HR Transformation

At IRCTC, our human capital continues to be our greatest
asset. With ongoing emphasis on employee engagement,
health, safety, upskilling, and well-being, the Human Resource
Department has made great strides towards creating a
vibrant, inclusive, and caring environment of work. Building
upon the framework of employee welfare of past years, some
digital and welfare-centric initiatives were initiated this year,
signaling a movement towards an integrated, transparent, and
technologically driven HR ecosystem.

During the year under review, the Company sustained its
strategic drive toward digital transformation by progressively
replacing manual systems with electronic solutions. These
efforts were aligned with the overarching objective of enhancing
operational efficiency, transparency, and employee enablement.
A number of in-house developed software applications were
successfully designed, tested, and implemented across key
functional domains, contributing significantly to administrative
simplification and governance improvement.

New Initiatives Rolled Out during FY 2024-25

1. Digital Transformation of HR Services:

• Medical Card Issuance (HRMS Module): IRCTC
implemented an end-to-end digital Medical Card
Issuance system through the HRMS portal (https://

ess.irctc.com). The module enables employees to
apply for fresh medical cards, renew, and modify card
details in the case of transfers or promotions. The
online process has eliminated paperwork, reduced
processing time, and ensures that employees and
their families continue receiving uninterrupted
medical services irrespective of location or
designation changes.

•    Online Employee Grievance Redressal: To

streamline grievance redressal and make it more
employee-centric, IRCTC introduced an online
grievance redressal platform. This module allows
for centralized grievance registration, tracking,
and solution. Through a transparent process, now
employees can keep track of their progress, get
responses on time, and escalate unresolved cases
through an integrated and accountable process.

•    Re-launch of Passport NOC Module Post Technical
Enhancements: Following initial user feedback and
identification of technical issues, the Passport NOC
module was upgraded and successfully re-launched.
Enhancements included:

•    Improved user experience and bug resolution.

•    Integration with employee profiles for faster
data retrieval.

•    Conducting internal training sessions for HR
users across zones to ensure smooth adoption.

•    D&AR Clearance Module: An online D&AR
(Discipline and Appeal Rules) clearance module was
implemented to provide for timely and traceable
clearance of passport-related cases, foreign travel,
outside employment, and other official demands. The
system electronically channels requests to related
departments for verification, keeping records in
secure and traceable form, with a marked reduction
in turnaround times and administrative labor.

•    Talk to Management Portal: The “Talk to
Management” interface was enhanced to provide
a more formalized and interactive platform for
employees to put forward recommendations, ideas,
and comments in direct communication with top
management. As opposed to the grievance redressal
system, this module is designed to encourage
a culture of communication and involvement,
wherein employees are able to contribute towards
organizational growth. The module also features a
tracking tool to track the status of their submissions.

•    APAR for E7 & E8 Grades: To automate and harmonize
the performance appraisal process, an in-house new
APAR (Annual Performance Appraisal Report) module
was created for E7 and E8 grade officers. The module

spans the complete appraisal process right from self¬
appraisal to review and final submission-all through
an online secure and effective workflow. This has
improved timeliness, transparency, and precision in
the performance review process.

•    Marriage Gift Claim Module: The procedure for
claiming marriage gifts was computerized to simplify
and speed up the disbursal of benefits. Employees
are now able to apply online for the benefit with
the system automatically checking eligibility and
settling the claim. This has cut paperwork by leaps
and bounds, infused transparency, and speeded up
approvals with ease while keeping correct digital
records for audit and reference purposes.

•    Expansion of HRMS Features: There were
constant enhancements to the HRMS portal for
increasing its usefulness and ease of use. Several
features for leave management, transfer application,
employee data updates, and circulars regarding
company policies were combined into a single
interface. These enhancements have contributed
to the portal becoming a one-stop solution for the
majority of the needs of HR, minimizing reliance on
manual interventions and fostering a digital self¬
service culture.

2. Health, Safety, and Social Security Measures:

IRCTC has been providing free consultation services to
the employees of Corporate Offic and North Zone by
empaneling General Physician, Gynecologist & AYUSH
physicians. Carrying forward the efforts of FY 2023-24,
empanelment of in-house doctors continued to extend
accessible primary healthcare to the employees.

Expansion of coverage under the Group Life Insurance
Scheme, IRCTC has extended the coverage with monetary
limit of 70 months basic pay plus dearness allowance for
all employees of IRCTC, ensuring financial protection in
the event of natural or accidental death.

Grant of Ex-gratia amount of H25,000/- to dependent
family members of the deceased employees as funeral
expenses, Compassionate ground appointments to the
next of kin of deceased employee, and continuation
of the Post-Retirement Medical Scheme for the retired
employees demonstrate IRCTC’s social security focus for
active as well as retired employees.

Medical Health Check-up of Spouse of the Employee: As
a welfare measure for its employees, IRCTC has recently
started the facility for Optional Preventive Medical Health
Check-up of Spouse of the employees who has crossed a
certain age (45 years in case of males and 40 years in case
of females). This scheme will be helpful for the spouse of

the employees to get their regular preventive health check¬
ups and medical treatments. Further, extending this facility
to the dependent determines the IRCTC’s investment in
the creation of healthy workforce; and it can be seen as an
investment in the well-being and protection of employees
& their family, which will result in improved performance,
productivity, and loyalty.

3.    Apprenticeship Engagement

Consistent with the Ministry of Skill Development &
Entrepreneurship, 73 apprentices were engaged during
FY 2023-24 (4.07% of total strength). The program
extends to FY 2024-25 with more emphasis on industry-
ready skill building, where 97 apprentices were engaged
which is approximately 5.12% of the total employee
strength against the minimum engagement of 2.5% as per
the Government guidelines.

4.    Prime Minister Internship Scheme (PMIS):

IRCTC successfully implemented the first phase of the
Prime Minister Internship Scheme (PMIS), an initiative by
the Ministry of Corporate Affairs aimed at enhancing youth
employability by providing practical exposure in a Corporate
environment. Out of approximately 1000 applications
received for 500 internship positions, 117 candidates were
shortlisted across key functional areas such as Tourism, IT,
HR, Finance, Legal, and Catering. However, 33 candidates
joined on internship under this scheme in IRCTC. The
scheme not only enabled young individuals to gain
valuable hands-on experience but also helped IRCTC tap
into fresh talent and innovative perspectives.

Following the encouraging response and outcomes of the
initial phase, IRCTC launched the second phase of PMIS in
2025, targeting the engagement of 467 interns across its
six regional zones and corporate office. IRCTC also decided
to pay a stipend of H5000/- per month additional to the
monetary remuneration in the form of stipend being paid
the Ministry of Corporate Affairs under the PMIS scheme.
The continued execution of this scheme reflects IRCTC’s
strong commitment to supporting the national agenda of
skill development and preparing a future-ready workforce
through structured, real-world learning opportunities.

Steps and Initiatives taken by IRCTC for Health & Safety
Improvements of Human Resources in CPSEs:

IRCTC recognizes that the health and safety of its
employees are of paramount importance. In alignment
with the Government of India’s mandate and the directives
issued by the Railway Board, IRCTC has proactively taken
several steps to improve the well-being of its workforce.
The organization regularly conducts training sessions,
workshops, and webinars on various health and safety-
related topics to enhance awareness and promote a
culture of health consciousness among employees.

The following key initiatives were undertaken during FY 2024-25:-

The above table refelects the complaince of Health and Safety parameter prescribed by Ministry of Railways for the
purpose of MOU 2024-25.

Particulars of Employees:

The provisions of Section 134(3)(e) of the Act are not
applicable to a Government Company. Consequently,
details on Company’s policy on Directors’ appointment
and other matters as required under Section 178 (3) of the
Act, are not provided.

Similarly, Section 197 of the Act is also exempt for a
Government Company. Consequently, there is no
requirement of disclosure regarding the statement
showing the names and other particulars of every
employee of the Company, who if employed throughout
/ part of the financial year, was in receipt of remuneration
in excess of the limits set out in the rules are not provided
in terms of Section 197 (12) of the Act read with Rule 5 (1) /
(2) of the Companies (Appointment and Remuneration of
Managerial Personnel) Rules, 2014.

Industrial Relations:

Harmonious Industrial Relations were maintained in your
Company throughout the year. Man-days loss due to internal
industrial action was reported as ‘NIL’ for FY ‘25.

Use of Information Technology/ERP

Information Technology remains a critical enabler
across departments, fostering real-time communication,
efficiency, and digital innovation. Several IT-led initiatives
were undertaken during the year to support both internal
stakeholders and external engagement:

>    Al-Powered Surveillance Infrastructure: Around

1,500 CCTV cameras integrated with AI-based
analytics were deployed across locations
for real-time    monitoring and enhanced

situational awareness.

>    Strengthening    of Cybersecurity Measures:

Following the transition to the World Trade Centre
(WTC) premises, the IT team collaborated with
the National Critical Information Infrastructure
Protection Centre (NCIIPC) to bolster network
security, improve threat response, and reinforce
infrastructure resilience.

>    Modernization    of Monitoring Facilities: A

state-of-the-art War Room was developed
as a centralized control center for real-time
monitoring via advanced CCTV systems.
In parallel, a hi-tech Board Room was
commissioned with advanced conferencing
technologies to facilitate high-level internal and
inter-agency meetings.

>    ERP and Government Portal Integration: The
Company successfully integrated its ERP
system with the Government e-Marketplace
(GeM), ensuring seamless and transparent
procurement processes. Additionally, IRCTC
commenced operations on the TReDS portal,
aligning with government guidelines for timely
vendor payments, particularly to MSMEs.

>    Third-Party System Integration: External
applications such as CSIM and Air Ticketing
systems were integrated with the ERP,
delivering comprehensive and end-to-end
service capabilities.

>    Financial Reconciliation Efforts: The IT and
finance teams worked in close coordination
to streamline financial reconciliation activities,
enhancing data accuracy and reporting integrity.

>    Successfully implemented Fixed Asset module
in the company.

These developments underscore IRCTC’s ongoing
commitment to harnessing digital technologies for
improved service delivery, employee empowerment,
process transparency, and robust information
security-contributing meaningfully to the Company’s
digital-first vision.

VIGILANCE

The vigilance wing in IRCTC is a key department acting as
direct link between CVC, Railway Board Vigilance and the
Organization. It has been entrusted with the responsibilities
of mandate to carry on various surprise checks and scrutinize
records/documents of various other departments from time
to time for detection of any, malpractices, corruption and
unwarranted/unlawful business conduct in the organization.
It coordinates with IRCTC management and Railway Board
Vigilance in dealing with matters of vigilance administration,
policy and disciplinary proceedings against erring officials.
IRCTC vigilance wing is headed by a full time CVO assisted by
Deputy CVO & PS to CVO, 2 Vigilance Officer, and 4 Vigilance
Inspectors in Corporate office. Further there are 5 Vigilance
Officers, one in each zone for handling vigilance related matters
in the Zonal office & field units. CVO being the extended arm
of CVC is deeply engaged in furthering culture of transparency,
fair procedures, good business conduct and raising vigilance
awareness in the organization. The focus area of vigilance
department is to promote work culture of intelligence gathering,
monitoring and surveillance. Efforts are being made to
undertake pro-active preventive Vigilance measures. This is to
ensure fair systems and procedures in place thereby increasing
transparency and reducing scope for discretion.

During the period 2024-25, the vigilance department
investigated in detail 28 complaints and 32 complaints having
no Vigilance angle were forwarded to concerned department
for necessary action. Total 29 preventive/surprise checks were
conducted in catering and e ticketing sector. The malpractices
and incidents of corruption so detected were communicated
to the concerned department for stringent action against the
licensees and erring employees. The resultant fine recovered
was to the tune of H 14,29,449/-. As a mandate of CVC, CMD
undertook periodical review of activities and performance of
vigilance department with CVO.

As per the directives of Central Vigilance Commission (CVC)
“Vigilance Awareness Week” was observed at IRCTC from
28^th October to 3^rd November 2024 with the theme, ‘•ÝhcIZbi
g aif Hit g'Cg, Culture of Integrity for Nation's
Prosperity” and all employees took “Integrity Pledge”. Various
programs, competitions, and seminars were conducted in all
the offices of the IRCTC with the view to create awareness
about preventive measures. Additionally, the "TEJASathon”
initiative was replicated this year, featuring interactive sessions
with passengers aimed at enhancing public awareness. It was
observed to encourage all stakeholders, employees, associated
vendors and citizens to collectively participate, fight against
corruption and to raise public awareness regarding existence,
causes, gravity and the threat posed by corruption.

Integrity Pact:

IRCTC has implemented the integrity pact programme in line
with the recommendations of the Central Vigilance Commission
with an objective to ensure that all activities and transactions
between a Company or Government departments and their
Suppliers are handled in a fair, transparent and corruption-
free manner. The adoption of the Integrity Pact by IRCTC
has helped in establishing healthy business practices. To
ensure transparency and healthy competitiveness in public
procurements/ contracts, IRCTC has adopted the Integrity Pact.
Two(02) Independent External monitors are appointed in IRCTC
with the approval of the CVC. Currently, Shri Apurva Varma, IAS
(Red.) and Shri Bharat Prasad Singh. IFoS (Red.) are IEMs for
Integrity Pact in IRCTC. A coordinator has also been appointed
for Integrity Pact for monitoring and implementation of Integrity
Pact. Integrity Pact now being used in all the tenders which are
beyond the identified threshold values.

Establishment of Vigil Mechanism:

Disclosure regarding establishment of vigil mechanism
is included under the Corporate Governance Report
at Annexure-"B".

Your Company has established Whistle Blower Policy/ Vigil
Mechanism to report genuine concerns about ethical behaviour,
actual or suspected fraud, violation of Code of conduct and also
instances of leak of unpublished price sensitive information.
The said vigil mechanism provides for adequate safeguards
against victimization of persons who use the mechanism and

has provision for direct access to the Chairperson of the Audit
Committee in appropriate or exceptional cases.

CORPORATE SOCIAL RESPONSIBILITY

The Company has been consistently engaged in a broad
spectrum of Corporate Social Responsibility (CSR) initiatives,
addressing various dimensions of social welfare and upliftment
across the country. The key focus areas identified under its
CSR framework include, inter alia, healthcare and sanitation,
education, and the empowerment of women and socially/
economically disadvantaged communities.

During the year, the Company fully utilized its allocated CSR
budget of H24.90 crore towards a range of approved activities. A
comprehensive report detailing the Company’s CSR initiatives,
in line with the provisions of the Companies Act, along with
the key highlights for the year, is annexed as Annexure “C”
to this report.

The composition of the CSR Committee is provided in the
Corporate Governance Report. The CSR policy of the Company
can be accessed at the website of the Company on the web link
https://www.irctc.com/assets/images/CSR-Vision-Document.pdf

COMPLIANCES

• Right to Information Act:

A well-defined mechanism is in place to deal with RTI
applications received under the Right to Information Act
2005. Senior level officers have been designated as
‘Central Public Information Officers’ (CPIOs) with GGM
level officer as First Appellate Authority.

As required under the RTI Act, detailed information is
hosted and regularly updated on the official website of the
Company, i.e., https://www.irctc.com/rti.html which inter-alia
includes details of CPIOs / APIOs/Appellate Authorities,
third party audited reports on mandatory disclosures, etc.

The Company has aligned with the online RTI portal
launched by DoPT, Govt. of India, and all the applications/
appeals received through the portal are disposed off
through the portal only. The Quarterly Reports / Annual
Reports are submitted, within the prescribed timeline, on
the website of the Central Information Commission, i.e.,
www.cic.gov.in.

During 2024-25, a total of 2890 RTI Applications and 213
RTI Appeals under the RTI Act, 2005 were received and all
the applications were dealt/disposed-off in a timely manner.

Assistant Manager/Rail Neer has been nominated as the
Official Language Officer.

Retired Senior Official Language Officers/Official Language
Officers from the Official Language Department of
Central Government Offices/Undertakings/Public Bodies/
Departments in all the Zonal Offices of IRCTC has been
appointed as Consultant/Official Language. Consultant/
Official Language has been deployed in 05 zonal offices
of IRCTC. Apart from this, in all zonal and regional offices
Senior officers/employees of other departments have
been designated as Official Language Officers and Official
Language Assistants.

In compliance with the orders of Home Ministry , Official
Language Department and Railway Board, libraries have
been established in all the zonal and regional offices
including the corporate office of IRCTC. Various types
of interesting and informative Hindi books are available
in these libraries . These include novels , short story
collections , poetry collections and many books on various
contemporary topics by reputed and well-known writers
and authors of Hindi literature.

Hindi Pakhwada:

In Corporate Office, Official Language Pakhwada from 09
September, 2024 to 23 September, 2024 was organized.
During this time the Hindi Day message of Railway Minister
and Chairman and Management Director were circulated to
All offices including the corporate Zonal and Subordinates
Offices. Official Language Fortnight was also organised in
the subordinate offices of the Corporation office.

During this period, several competitions were organized
to remove the hesitation of working in Hindi. Employees
participated with great enthusiasm in these competitions.
Some pictures of the competitions are given below: -

In addition to this, Dictation competition and on the
last day of the fortnight, on 23.09.2024 , a Hindi-Quiz
competition was organized, in which the participation
of employees was encouraging. In total, more than 200
employees participated in these competitions, out of
which 40 employees were honoured with certificates and
cash prizes by the Chairman and Managing Director on the
basis of their excellent performance on 15 October 2024.
Earlier, the Chairman and Managing Director congratulated
all the award winning employees and encouraged other
employees to perform even better in the future.

Inspection by Parliamentary Committee on Official
Language:

During 2024-25 , the second sub-committee of the
Parliamentary Official Language Committee inspected the
Regional Office , Bhubaneswar on 24.10.2024, Guwahati
on 20.11.2024 , Ernakulam on 10.01.2025 and Chandigarh
office on 28.02.2025. The Committee expressed
satisfaction over the progress of official language in IRCTC
and praised the work done in official language. Chandigarh
office of IRCTC was awarded 'Good' by the Parliamentary
Official Language Committee for the progress of use
and dissemination of official language and excellent
coordination. Certificates were also provided.

Pictures related to the inspection of the Parliamentary
Committee are given below:-

• Disclosure Requirement under Sexual Harassment of
Women at Work Place Act (Prevention, Prohibition and
Redressal Act) 2013:

The provisions of the Sexual Harassment of Women at
Workplace (Prevention, Prohibition and Redressal) Act,
2013 and the rules thereon are being strictly complied
with. The Company is committed to the prevention of
sexual harassment of women at workplace and takes
prompt action in the event of reporting of such incidents.

IRCTC has also in place a “Policy on Prevention, Prohibition
and Redressal of Sexual Harassment of Women at
workplace”, duly approved by the Board of Directors.

In accordance with the Act, to provide protection against
sexual harassment of women at workplace and to maintain
their safety, IRCTC has nominated the Internal Complaints
Committee(s) with the composition as required under
the Act, at the Corporate Office as well as Zonal offices
of the company.

The detail of complaints, received, disposed off and
pending during the year 2024-25 is reproduced below:

The complaint is being examined and is not pending for more than 90 days

• Procurement from Micro and Small Enterprises (MSEs):

In line with the Public Procurement Policy of the Government
of India, as amended, the Company is required to procure
minimum 25% of the total procurement of Goods and
Services from MSEs, out of which 4% is earmarked for
procurement from MSEs owned by SC / ST entrepreneurs
and 3% from MSEs owned by women. The procurement
from MSEs during FY 2024-25 was as under:

Several initiatives were undertaken to identify the
entrepreneurs for procurement of goods and services
from MSEs owned by SC / ST enterprises and
women owned MSEs.

There are no Micro and Small Enterprises, to whom the
Company owes dues, which are outstanding for more
than 45 days as on 31^st March 2025. The same has been
uploaded on the DPE MOU dashboard.

•    Facilitation for payment of invoices
through TReDS Portal:

In exercise of powers conferred by Section 9 of the Micro,
Small and Medium Enterprise Development Act, 2006
(27 of 2006), the Central Government issued instructions
that all CPSEs shall be required to get themselves on
boarded on the Trade Receivables Discounting System
(TReDS) platform, set up as per the notification of the
Reserve Bank of India.

In compliance with the above instructions, as on 31^st
March, 2025, your Company was on-boarded on all the
existing TreDS platforms, viz, Receivables Exchange of
India Limited (RXIL), C2Treds, Invoicemart and M1xchange
to facilitate financing of trade receivables of MSEs by
discounting of their receivables and realisation of their
payment before the due date.

Further, as mandated vide DPE’s OM dated 22^nd July,
2024, the Company integrated its ERP system with GeM
portal during FY 2024-25.

•    Mandatory use of GeM for procurement:

During the year, GeM portal was extensively used for
procurement of capital goods, consumables as well as
services across zones & regions. During FY 2024-25
IRCTC’s total procurement through GeM was as under.

COMPLIANCES UNDER THE COMPANIES ACT
2013 / SEBI (LODR) REGULATIONS 2015

• Annual Return:

As required under the provisions of the Companies Act,
2013, the Annual Return is hosted on the Company's
website and can be accessed from the link https://irctc.
com/Annual%20Return.html

•    Deposits:

The Company has not accepted or invited any deposits
from the public under Chapter V of the Companies Act,
2013 read with Companies (Acceptance of Deposit)
Rules, 2014 during the year under review. Therefore, the
information required to be reported under Rule 8 (5) (v) of
Companies (Accounts) Rules, 2014 is NIL.

Further, as provided in Secretarial Standards, information
regarding details of National Company Law Tribunal
(NCLT)/National Company Law Appellate Tribunal (NCLAT)
orders with respect to depositors for extension of time for
repayment, penalty imposed, if any is also NIL.

•    Particulars of loans & guarantees given, investments
made and securities provided:

During the year, the Company has not provided any loan or
provided any guarantee under section 186 of Companies
Act, 2013 read with Companies (Meetings of Board and
its Powers) Rules, 2014. However, the Company has made
an additional equity contribution of H10,00,00,000 (Rupees
Ten Crores Only) in IRCTC Payments Limited, its wholly
owned subsidiary, by subscribing 1,00,00,000 equity
shares of H10/- each. These shares rank pari-passu with
the existing equity shares of the subsidiary and have been
issued on a rights issue basis.

The details of investments made by the Company in IRCTC
Payments Limited during the FY 2024-25 forms part of the
notes to the financial statements, which are provided in
the Annual Report.

•    Contracts and arrangements with related parties:

During the Financial Year, the Company has not entered
into any material transaction with any of its related
parties, which have potential conflict with the interest of
the Company at large. All the contracts / arrangements /
transactions entered into with related parties were in the
ordinary course of business and on arm’s length basis.
Accordingly, the disclosure of Related Party Transactions
as required under Section 134(3)(h) of the Companies Act,
2013 read with Section 188 of the Act and Rule 8(2) of
the Companies (Accounts) Rules, 2014 in Form AOC-2 is
annexed to the report as “Annexure-G”.

In accordance with the requirements prescribed under
Companies Act, 2013, SEBI (LODR) Regulation, 2015 and
Accounting Standard -24 on Related Party disclosures, the
details of transactions with related parties are disclosed
in the Notes to Financial Statements for the year ended
31^st March 2025.

•    Internal Financial Control System:

Your Company has established adequate Internal Financial
Controls by laying down policies and procedures to ensure
the efficient conduct of its business, safeguarding of its assets,
prevention and detection of frauds and errors, accuracy
and completeness of the accounting records, and timely
preparation of reliable financial information commensurate
with the operations of the Company. The effectiveness
of these Internal Financial Controls is ensured through
management reviews, self-assessment and independent
testing by the Internal Auditor. These assessments indicates
that your Company has adequate Internal Financial Controls
over Financial Reporting in compliance with the provisions of
the Companies Act, 2013 and such Internal Financial Controls
are operating effectively. The Audit Committee reviews the
Internal Financial Controls to ensure its effectiveness for
achieving the intended purpose. Independent Auditors
Report on the Internal Financial Controls of the Company
in terms of Clause (i) of Sub-Section 3 of Section 143 of the
Companies Act, 2013 by the Statutory Auditors is placed
along with the Financial Statements.

M/s G. Deep & Co., Chartered Accountants were engaged
for certification of Internal Financial Control (IFC) for FY
2024-25, in accordance with the applicable provisions of
the Companies Act, 2013 and rules framed thereunder.

The report on Internal Financial Control was placed
before the Audit Committee for the consideration and
deliberations. Details of the internal control system are
provided in the Management Discussion and Analysis
Report given at Annexure-"A".

•    Risk Management:

The Company has in place a Board Level Risk Management
Committee and the details of the composition, meetings
held and terms of reference of the Committee are included
under the Report of Corporate Governance placed as
Annexure -"B".

The Company also has a below Board level Committee
constituted of GGM/GM level officers, including GGM
(HRD) as Chief Risk Officer (CRO). The functions of the
Committee are to identify the risks related to the specific
business segments of IRCTC in order to establish an
appropriate risk management framework in the Company.

During meetings of below Board Risk Management
Committee, various risks have been identified and
deliberated at the Board level committee. The details
of the identified risks with their mitigation strategies are
mentioned in the Management Discussion & Analysis
Report enclosed as Annexure-“A”.

•    Significant and Material Orders:

There are no significant or material orders passed by
the regulators or courts or tribunals impacting the going
concern status and the Company's operations in future.

•    Secretarial Standards:

The Company has complied with Secretarial Standards
issued by the Institute of Company Secretaries of India to
the extent applicable.

•    Investor Education & Protection Fund (IEPF):

As of now, there is no amount due for transfer to IEPF and
details of unclaimed dividend as on March 31, 2025 are
available on the website of the Company, and this is also
disclosed in the Corporate Governance report.

•    Reporting of frauds by auditors:

The Auditors in their report for the year have not reported
any instance of fraud committed by the officers/employees
of the Company.

•    Credit Rating of securities:

During FY 2024-25, the Company has not received any
credit rating by the rating agencies.

•    Corporate Insolvency Resolution Process initiated
under the Insolvency and Bankruptcy Code, 2016:

The Company has no information to disclose under above.

•    Failure to implement any Corporate Action:

The Company has implemented all Corporate Actions
successfully within prescribed timelines. Therefore, the
Company has nothing to report.

•    Details of one-time    settlement with    banks/

financial institutions:

The company didn’t make one time settlement with banks/
financial institutions during the financial year. Therefore,
there is nothing to report.

•    Compliance of the provisions relating to the Maternity
Benefit Act, 1961:

The Company has complied with the provisions relating to
Maternity Benefit Act 1961.

•    Particulars relating to Conservation of energy,
Technology Absorption and Foreign Exchange Earnings
and Outgo etc.:

The details pertaining to Conservation of Energy and
Technology Absorption; and Foreign Exchange Earnings
and Outgo, as required to be disclosed under Section

134(3)(m) of the Companies Act, 2013 read with Rule 8 of
the Companies (Accounts) Rules, 2014 is given as under:

Conservation of Energy:

Your Company is committed to minimizing adverse
environmental impacts resulting from its operations,
products, and services. To achieve this, the company
implements various efforts and initiatives aimed at utilizing
processes, practices, materials, and products that prioritize
pollution avoidance, reduction, and control.

Furthermore, IRCTC ensures compliance with relevant
environmental laws and regulations while effectively
operating pollution control facilities across all its
plants and units. This proactive approach is integral to
safeguarding the environment, promoting a safe and clean
environment, and reducing dependence on conventional
energy sources.

The particulars on Conservation of Energy in details are
mentioned in Business Responsibility and Sustainability
Report enclosed as Annexure - “D”.

Technology Absorption:

Details are mentioned below in the table:

•    Expenditure incurred on Research and Development:

Your Company does not undertake exclusive research
projects as it does not have the presence in such a domain.
However, to improve the technical capability and enhance
competence, some methods and techniques have been
developed and innovative systems have been introduced
for its business segments.

•    Foreign Exchange Earnings and Outgo:

The Foreign Exchange earned in terms of actual inflows
during the year and the Foreign Exchange outgo during
the year, in terms of actual outflows, compared to previous
year is mentioned below:

•    Retirement of Directors by Rotation:

In accordance with the provisions of the Companies Act,
2013, and the Articles of Association of the Company,
Shri Rahul Himalian (DIN: 10393348), Director (Tourism &
Marketing), is liable to retire by rotation at the ensuing 26^th
AGM of the Company and, being eligible, offers himself for
re-appointment. The details of Shri Rahul Himalian, seeking
re-appointment at the ensuing AGM, are contained in
the Notice of AGM.

•    Policy on Performance Evaluation of Directors:

The provisions of Section 134(3)(p) of the Companies
Act, 2013 require a listed entity to include a statement
indicating the manner of formal evaluation of performance
of the Board, its Committees and of individual Directors.
However, the said provisions are exempt for Government
Companies as per Ministry of Corporate Affairs (MCA)’s
notifications dated 05.06.2015 and 05.07.2017. IRCTC
being a Government Company under the administrative
control of the Ministry of Railways is also exempted from
the above-mentioned provisions of Companies Act.

In IRCTC, the evaluation of performance of Functional
Directors includes self-evaluation by the respective
functional directors and subsequent assessment by CMD
with final evaluation by the Ministry of Railways.

The performance evaluation of CMD 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 procedure laid
down. Since, Independent Directors are appointed by the
administrative ministry, their evaluation is also done by the
Ministry of Railways and Department of Public Enterprises.

MEMORANDUM OF UNDERSTANDING

The Memorandum of Understanding (MoU) is signed on annual
basis between your Company and administrative ministry, i.e.
Ministry of Railways to assess and enhance performance of the
Company trough the targets set therein.

The performance of the Company has been rated as “Excellent”
based on the outcomes achieved with reference to the key
performance indicators (KPIs) enshrined in the Memorandum of
Understanding (MoU) for the financial year 2023-24.

The MoU reflecting the targets for the year 2024-25 has been
finalised by Ministry of Railways and Department of Public
Enterprises (DPE) and the evaluation of the performance
parameters of MoU for the year 2024-25 is in process.

Apart from performance parameters, the MoU for FY 2024-25
also contains compliance parameters such as, procurement of
Goods & Services through MSEs including SC/ST and Women
entrepreneurs, acceptance/rejection of Goods & Services on
TReDs portal, procurement from GeM as per the approved plan,

compliance of the provisions related to CSR, Companies Act,
and SEBI (LODR) etc. The performance of IRCTC for each of the
above parameter has been stated in the respective paragraph
of the Board’s Report.

AWARDS AND ACHIEVEMENTS

1.    World Travel Awards 2024 - Asia's Leading Luxury
Train 2024: Maharajas’ Express at Asia & Oceania Gala
Ceremony 2024 on 06.09.2024 at Manila, Philippines.

2.    Seven Stars Luxury Hospitality and Lifestyle Awards at
Almafi Coast Italy- (12^th October 2024)

•    Best Luxury Rail Operator- IRCTC

•    Best Luxury Train- Maharajas Express

•    Best Heritage Experience - Golden Chariot

3.    IRCTC Awarded for the best Tourism Portal at the 9^th
Edition of ITCTA B2B International Tourism Expo, Conclave
and Awards at an event held at New Delhi on 05.07.2024.

4.    IRCTC received a Certificate of Excellence and a
Trophy at the iLounge Media 3^rd PSU Transformation
Conclave & Awards in the category of “Innovative
Product Development” for the Heliyatra Online Ticketing
Service on 05.12.2024

5.    In recognition of surpassing 1 million subscribers, the
channel has been honored with the prestigious YouTube
Golden Play Button, marking a significant milestone in
IRCTC’s digital outreach journey.

DETAILS OF SUBSIDIARIES AND ASSOCIATE/
JOINT VENTURE COMPANIES

During the financial year 2024-25, no subsidiary, joint venture,
or associate company was incorporated or ceased operations.

Your Company has following subsidiaries and associate/joint
venture companies as on March 31, 2025:

a. Subsidiary Companies:

IRCTC Payments Limited:

IRCTC Payments Limited was incorporated on February
10, 2024, as a wholly owned subsidiary of Indian Railway
Catering and Tourism Corporation (IRCTC), with the primary
objective of engaging in the payment aggregator business.
The company has an authorized share capital of H25 crores,
comprising 2.5 crore equity shares of H10/- each. The paid-
up share capital also stands at H25 crores, fully subscribed
through the issuance of 2.5 crore equity shares of H10/- each.

The vision behind establishing IRCTC Payments Limited
is to extend payment aggregator services not only within
IRCTC but also to a wider ecosystem, including various
Government departments and private organizations. The

company aims to build a comprehensive digital platform
that facilitates seamless, secure, and efficient financial
transactions. This strategic move is designed to open up
new revenue streams for IRCTC while delivering end-to-
end, superior service experiences to customers across
sectors, making every transaction effortless and reliable.

To operate as a payment aggregator, IRCTC Payments
Limited is required to obtain Payment Aggregator (PA)
Authorization from the Reserve Bank of India (RBI), in
accordance with the guidelines issued for payment
aggregators. The authorization process involves
two stages: in-principle approval and final approval.
Accordingly, IRCTC Payments Limited has submitted its
application for PA authorization to the RBI on December
12, 2024. The application is currently under review, and in¬
principle approval is awaited. As of now, IRCTC Payments
Limited has not commenced commercial operations and
will do so upon receiving the necessary approvals.

Further information regarding the Board of Directors, Chief
Executive Officer (CEO), Chief Financial Officer (CFO),
and Company Secretary of IRCTC Payments Limited is
available on the official IRCTC website. Stakeholders and
the general public can access these details through the
following web link: https://www.irctc.com/Subsidairy.html.

b. Associate/Joint Venture companies:

Royale Indian Rail Tours Limited (RIRTL):

Royale Indian Rail Tours Limited (RIRTL) is a joint venture
between IRCTC and Cox & Kings Limited in the ratio of
50:50 incorporated on 27^th November, 2008 with an
objective to acquire, furnish, maintain, manage and
operate luxury trains and to market holiday packages.

Accordingly, a luxury train having 23 coaches was
manufactured, fabricated and funded by the company
and was marketed in the name of Maharajas’ Express and
was leased to the Royale Indian Rail Tours Limited (RIRTL)
for the purpose of running, operating and managing the
luxury tourist train for a period of 15 years. However, due to
certain issues between the equity partners, the lease of the
luxury train was withdrawn and the JV Agreement dated
10^th December, 2008 was terminated. Cox & Kings Limited
initiated arbitration proceedings seeking restoration
of Joint Venture Agreement. The Arbitral tribunal after
concluding the Arbitration proceedings passed an Award
dated 31.07.2023 in favour of IRCTC by rejecting all the
claims of Cox & Kings.

IRCTC has also filed a petition against Royale Indian Rail
Tours Limited (RIRTL) and Cox & Kings Limited and others
before National Company Law Tribunal (NCLT) (erstwhile
Company Law Board) under sections 388B, 397, 398, 399
and 403 of the Companies Act, 1956 and the said petition

is sub-judice. NCLT has declared the said company (RIRTL)
to be in managerial dispute. Details of the Joint Venture
are covered in the notes to accounts of the standalone
financial statements for the period ending March 31, 2025
vide note no. 37.2(ii) and 45. The parties have also taken
permission from the NCLT for not holding the Board and
General meetings of RIRTL without its approval in July,
2013. The matter relating to the winding up of RIRTL,
whereby an express order from NCLT is to be obtained, is
under process and further course of action would be taken
accordingly based on the developments in this process.

CONSOLIDATION OF FINANCIAL STATEMENTS

The Board of Directors of the Company, at its meeting held on
May 28, 2025, approved the Standalone and Consolidated
Financial Statements for the financial year 2024-25. However,
the Consolidated Financial Statements for the financial year
2024-25 have been prepared based on the management-
certified financial statements of the wholly owned subsidiary
company, IRCTC Payments Limited.

In compliance with the first proviso to Section 129(3) of the
Companies Act, 2013, a statement containing the salient
features of the financial statements of the subsidiary company,
IRCTC Payments Limited, is annexed to the Consolidated
Financial Statements and forms part of this Annual Report.

The audited financial statements (Standalone and Consolidated)
of the Company for the financial year 2024-25, along with
the financial statements of its subsidiary company, would be
made available on the Company’s website at www.irctc.com. In
accordance with the provisions of Section 136 of the Companies
Act, 2013, shareholders interested in obtaining a copy of the
said financial statements may access them at: https://www.irctc.
com/financial_reporting.html.

As mentioned in the paragraph above, the Board meetings and
general meetings have not been held in RIRTL since financial
year 2010-2011, due to pending dispute with Cox & Kings
Limited. Therefore, the financial statements of RIRTL, as required
under section 129(3) of the Companies Act 2013, could not be
consolidated with the financial statements of the Company, as
also explained and disclosed in the Notes to accounts of the
financial statements for the period ending 31^st March 2025.

AUDITORS

Statutory Auditor:

Under Section 139(5) of the Companies Act 2013, Comptroller &
Auditor General of India has appointed M/s N.K Bhargava & Co.,
Chartered Accountants as Statutory Auditor of the Company to
audit the financial statements for the financial year 2024-25. The
details of payment made to Statutory Auditor during financial
year 2024-25 on consolidated basis is mentioned below:

Secretarial Auditor:

Pursuant to the provisions of Section 204 of the Companies Act,
2013, read with the Companies (Appointment and Remuneration
of Managerial Personnel) Rules, 2014, IRCTC has appointed
M/s Kumar Naresh Sinha & Associates, an independent firm
of Practicing Company Secretaries, to conduct the Secretarial
Audit of the Company for the financial year 2024-25.

The Secretarial Audit Report for the financial year ended March
31, 2025, as provided by the Secretarial Auditor, is annexed to
this Report and marked as Annexure “D”.

Internal Auditor:

In accordance with the provisions of Section 138 of the
Companies Act, 2013, read with Rule 13 of the Companies
(Accounts) Rules, 2014, the Company has appointed M/s S.K.
Misra and Gujrati, Chartered Accountants, an independent
professional accounting firm, as the Internal Auditor for the
financial year 2024-25. The details regarding the scope and
functions of the firm are provided in the Management Discussion
and Analysis Report.

Cost Auditor:

The business segments of IRCTC are not covered under Cost
Audit Rules notified by Ministry of Corporate Affairs. However,
the Company conducted the cost audit of cost records
maintained by the Rail Neer Plants on a voluntary basis only
through M/s HMVN & Associates, appointed as the Cost Auditor
for the year 2024-25.

COMMENTS OF COMPTROLLER & AUDITOR
GENERAL (C&AG) OF INDIA

The Comptroller & Auditor General of India has undertaken
supplementary audit on the financial statements (Standalone &
Consolidated) of the Company for the year ended 31^st March,
2025 under Section 143(6) of the Companies Act, 2013.

The comments of the C&AG on the financial statements
(Standalone & Consolidated) of the Company for the year
ended 31^st March, 2025 shall also form part of this report.

C&AG Paras from Other Audits:

In addition to the supplementary audit of the financial statements
mentioned earlier, the Comptroller and Auditor General (C&AG)

conducts various types of audits. During the financial year
2024-25, the C&AG team issued six paras ( two paras under
Part II-A and four paras under Part II-B) during the transaction
audit of the IRCTC Corporate Office, covering the period
2023-25. These paras relate to operating losses of the Tejas
train, inadmissible payment to TADK by the company toward
regular employees, execution of the Budget Hotel (Khajuraho),
awarding of work for Zimbra mail services to RailTel, allotment
of vehicles in contravention of CVC Guidelines, and outstanding
refund receivable with Income Tax. The replies to these paras
are currently under consideration of Management and will be
provided shortly to CAG.

DIRECTORS’ RESPONSIBILITY STATEMENT

Pursuant to the requirement under Section 134 of the Companies
Act, 2013, with respect to Directors’ Responsibility Statement, it
is hereby confirmed that:

(a)    In the preparation of the annual accounts, the applicable
accounting standards were followed and there was no
material departures from the same;

(b)    The Directors had selected such accounting policies
and applied them consistently and made judgments and
estimates that were reasonable and prudent, so as to give
a true and fair view of the state of affairs of the Company
as on 31^st March, 2025 and of the profit of the Company for
the year ended on that date;

(c)    The Directors had 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;

(d)    The Directors had prepared the annual accounts of the
Company on a ‘going concern’ basis;

(e)    The Directors had laid down internal financial controls
which were being followed by the Company and that
such internal financial controls were adequate and were
operating effectively; and

(f)    The Directors had devised proper systems to ensure
compliance with the provisions of all applicable laws and
that such systems are adequate and operating effectively.

DIRECTORS AND KEY MANAGERIAL PERSONNEL
(KMPs)

Since the last Annual General Meeting, the following changes
have taken place in the composition of the Board of Directors
and Key Managerial Personnel (KMPs) of the Company:

Appointments:

1. Shri Shivendra Shukla (DIN: 10765384), ED (PM), Railway
Board was appointed as Government Nominee Director
on the Board of IRCTC w.e.f. September 03, 2024.

2.    Shri Rabindra Nath Mishra (DIN: 09050821), EDF/C&PPP,
Railway Board, was entrusted with the additional charge
of the post of Director (Finance), IRCTC, w.e.f October 1,
2024, in accordance with the Ministry of Railways’ letter
dated September 30, 2024.

3.    Shri Sudhir Kumar, GGM (Finance), was appointed as
Chief Financial Officer (CFO) w.e.f. January 16, 2025. He
has also been assigned with additional charge of Director
(Finance) by Ministry of Railways vide letter dated July
22, 2025. Accordingly, he has assumed the additional
charge of Director (Finance), in addition to his own, w.e.f.
July 22, 2025.

4.    Shri Namgyal Wangchuk (DIN: 09397676) was reappointed
as an Independent Director w.e.f. April 15, 2025, after
completion of his three years tenure as Independent
Director on November 11, 2024.

5.    Shri Sanjay Gaur (DIN: 09399463) was appointed as an
Independent Director w.e.f. April 15, 2025.

6.    Shri Manoj Kumar Sharma (DIN: 11214123) assumed the
additional charge of Director (Catering Services), in
addition to his own, w.e.f. August 01, 2025, in accordance
with Ministry of Railways letter dated July 22, 2025.

Cessations:

1. Shri Neeraj Sharma (DIN: 08177824), ceased to be
Government Nominee Director of the Company w.e.f.
August 01, 2024, on account of superannuation.

2.    Shri Ajit Kumar (DIN: 07247362), Director (Finance) &
Chief Financial Officer (CFO), ceased to hold the office
w.e.f. October 01, 2024, upon attaining the age of
superannuation.

3.    Shri Vinay Kumar Sharma (DIN: 03604125) completed his
tenure as an Independent Director on November 08, 2024.

4.    Shri Gaisingam Kabui, Former GGM (Finance) & CFO w.e.f.
October 1, 2024, was relieved from IRCTC on December
16, 2024, upon completion of his deputation tenure.

5.    Shri Rabindra Nath Mishra (DIN: 09050821) relinquished
the additional charge of Director (Finance) on July 22, 2025
in terms of Railway Board’s letter dated July 22, 2025.

6.    Dr. Lokiah Ravikumar (DIN: 10045466) Director (Catering
Services), ceased to hold the office on July 31, 2025 due
to superannuation.

The Board of Directors of your Company place on record
its sincere appreciation for the valuable contributions and
dedicated service rendered by Shri Neeraj Sharma, Shri Ajit
Kumar, Shri Vinay Kumar Sharma, Shri Gaisingam Kabui, Shri
Rabindra Nath Mishra and Dr. Lokiah Ravikumar, during their
association with the Company. The Board acknowledges
their significant contributions to the growth, governance, and
strategic direction of the Company and extends its best wishes
for their future endeavours.

The following directors are holding office as on the date of the report:

ACKNOWLEDGEMENTS

Your Directors are highly grateful for all the help, guidance and support received from the Ministry of Railways, DIPAM, DPE, Ministry
of Finance, MCA, Ministry of Tourism, and other agencies in Central and State Governments. Your directors acknowledge the
constructive suggestions received from Auditors and Comptroller and Auditor General of India and are grateful for their continued
support and cooperation.

Your Directors thank all stakeholders, business partners and all members of the IRCTC Family for their faith, trust and confidence
reposed in the Board. Your Directors wish to place on record their sincere appreciation for the unstinting efforts and dedicated
contributions put in by the IRCTC family at all levels to ensure that the Company continues to sustain, grow and excel.

For and on behalf of Board of Directors

Sd/-

(Sanjay Kumar Jain)

Place: New Delhi    Chairman & Managing Director

Date: August 04, 2025    DIN: 09629741

1

   Jan Ahaars: The menu and tariff of meal items served
at Jan Ahaar are regulated by Railway. It serves
snacks and a-la-carte items and standard breakfast/
lunch/dinner & Janta Khana. In addition, packed food
& beverages such as aerated drinks, Biscuits, Chips,
Namkeens, Chocolates, Ready to Eat meals (RTE) and
Railneer PDW etc. are also served. As on 31.03.2025,
IRCTC managed 38 Jan Ahaars across IR network