About BlackBuck (Zinka Logistics Solutions Limited)

Zinka Logistics Solutions Limited, branded as BlackBuck, was incorporated in 2015 and has become India’s largest digital platform for truck operators, with over 1 million truck operators transacting on its platform in FY 2025, representing about 30% of India’s truck operators as stated in the report’s MD&A section dated “Annual Report 2024-25”. The platform enables digital toll and fuel payments, telematics for fleet and driver monitoring, access to loads via a marketplace, and financing for used vehicle purchases, delivered through an omnichannel distribution network across 80 districts and about 10,000 physical touchpoints as disclosed in the operational overview. The company operates nationally in India with four offices and no international offices or export revenue contribution, per BRSR disclosures as of March 31, 2025. As of FY 2025, the company has three wholly-owned subsidiaries: TZF Logistics Solutions Private Limited, BlackBuck Finserve Private Limited, and ZZ Logistics Solutions Private Limited, each with 100% ownership per the BRSR section. Key milestones in FY 2025 include a bonus issue of 56,463,000 equity shares, conversion of 256,485 CCPS into 99,764,500 equity shares, completion of an IPO of 40,834,377 equity shares at an issue price of Rs 273 per share (with an employee portion at Rs 248), and forfeiture of 419 partly paid Series D CCPS, all approved and recorded between April 2024 and February 2025 as per notes to accounts.

Zinka Logistics Solutions Limited Business Segment

• Offerings: The platform spans payments (tolling via FASTag and fuel payments), telematics (GPS tracking, fuel sensors, fleet visibility), loads marketplace (3.1 million digital loads posted in FY 2025), and vehicle financing for used commercial vehicles, as set out in the MD&A.

• Revenue composition by type (Standalone, Rs in million): Commission income Rs 164.54 crore (from Rs 1,645.38 million), subscription fees Rs 164.16 crore (from Rs 1,641.63 million), service fees Rs 91.00 crore (from Rs 910.01 million), and others Rs 2.24 crore (from Rs 22.37 million), summing to revenue from continuing operations Rs 421.94 crore in FY 2025, with conversion from lakh not applicable as the table is in “H in Million” (crore calculated as million ÷ 10) as per the MD&A table.

• Geographic split: The report’s BRSR notes “Markets served” are national (28 states) with no international markets and exports as a percentage of total turnover as Nil;

Zinka Logistics Solutions Limited Key Management

• Rajesh Kumar Naidu Yabaji — Chairman, Managing Director and Chief Executive Officer (CMD & CEO), DIN 07096048, affirmed across Corporate Governance and certifications dated May 27, 2025.

• Chanakya Hridaya — Executive Director (COO referenced in managerial remuneration section), Board member through FY 2024-25 per Board composition.

• Ramasubramaniam Balasubramaniam — Executive Director, Board member through FY 2024-25 per Board composition.

• Kaushik Dutta — Non-Executive Independent Director; Chairman of Audit Committee per committee composition.

• Hardika Shah — Non-Executive Independent Director; Member of Audit Committee and Board appointed w.e.f. April 10, 2024 as per governance report.

• Niraj Singh — Non-Executive Independent Director; Member of Audit Committee (appointed July 24, 2024) per governance section.

• Rajamani Muthuchamy — Non-Executive Independent Director; Chairman of CSR Committee as of March 31, 2025 per CSR Annexure.

• Anand Daniel — Non-Executive Nominee Director (ceased June 15, 2024; noted as Nominee earlier) per Board meetings and composition.

• Satyakam G N — Chief Financial Officer, signatory to CEO/CFO certification dated May 27, 2025 per Corporate Governance annexure.

• Barun Pandey — Company Secretary and Compliance Officer, contact listed in BRSR.

Latest Updates on Zinka Logistics Solutions Limited

• Completed Initial Public Offering of 40,834,377 equity shares at Rs 273 per share; employee reservation 22,464 shares at Rs 248; comprised fresh issue of 20,148,577 shares and offer for sale of 20,685,800 shares in FY 2025 as per notes.

• Issued 56,463,000 bonus equity shares of Re 1 each on June 7, 2024, at a ratio of 550 for every equity share held, adjusted via securities premium as approved by Board and shareholders in late May 2024 as per notes.

• Converted 256,485 CCPS into 99,764,500 equity shares on October 07, 2024, following revision of conversion ratios per waiver-cum-amendment agreement dated July 05, 2024 as disclosed in notes.

• Forfeited 419 partly paid Series D CCPS on June 1, 2024, with 64 Series D CCPS fully paid by Trifecta entities during FY 2025, per notes.

• Constituted IPO Committee on June 26, 2024, and complied with SEBI LODR requirements post-listing, with Corporate Governance compliance certificate dated May 27, 2025, confirming adherence for FY 2025 per the annexures.