Dear Members,

Your Board of Directors are pleased to present the 21st Annual Report of InterGlobe Aviation Limited ("Company" or "we" or "IndiGo") along with the audited financial statements for the financial year ended March 31, 2024 ("FY 2024"). Wherever required, the consolidated performance of the Company and its subsidiaries have also been provided.

1. Financial Results

The standalone and consolidated financial highlights of the Company are summarised below:

2. Company's Performance

On a consolidated basis, we achieved a total income of Rs. 712,311.63 million for FY 2024, higher by 27.47% over the previous year's total income of Rs. 558,814.18 million. We reported a net profit of Rs. 81,724.68 million for FY 2024 against a net loss of Rs. 3,057.89 million for the previous year.

On a standalone basis, we achieved a total income of Rs. 712,299.14 million for FY 2024, higher by 27.47% over the previous year's total income of Rs. 558,778.88 million. We reported a net profit of Rs. 81,674.85 million for FY 2024 against a net loss of Rs. 3,167.16 million for the previous year.

3. Subsidiaries and their Performance

The Company has the following two (2) subsidiaries:

Agile Airport Services Private Limited (Agile)

Agile is a wholly owned subsidiary of the Company, incorporated in the year 2017 and is engaged in the business of providing ground handling and other allied services to IndiGo at various airports in India.

The total income of Agile for FY 2024 was Rs. 6,913.56 million, higher by 34.91% over the previous year's total income of Rs. 5,124.66 million. The net profit was Rs. 49.84 million indicating a decrease of 54.39% over net profit of Rs 109.27 million for FY 2023.

InterGlobe Aviation Financial Services IFSC Private Limited (IAFS)

IAFS is a wholly owned subsidiary of the Company, incorporated during the year on October 12, 2023 and acts as an aircraft and aircraft engine operating lessor for providing financial services in an IFSC, undertaking operating lease for an aircraft ground support equipment and an aviation training simulation device. IAFS is yet to commence its business operations.

The annual accounts of Agile and IAFS, subsidiary companies are available on the website of the Company viz. www.goindigo.in and shall also be kept open for inspection at the registered office of IndiGo. The Company shall also make available the

annual accounts of these companies to any member of the Company who may be interested in obtaining the same. The consolidated financial statements presented by the Company include the financial results of its subsidiary companies.

A report on the performance and financial position of each of the subsidiaries for the financial year ended March 31, 2024 in Form AOC -1 as per the Companies Act, 2013 ("Act") is annexed to the consolidated financial statements.

The Company has adopted a policy for determining material subsidiaries pursuant to requirements under SCSI (Listing Obligations and Disclosure Requirements), Regulations, 2015 ("SCSI LODR Regulations"). The Policy can be viewed on the Company's website at https://www.goindigo.in/content/dam/goindigo/investor-relations/policies/2021/InterGlobe-Aviation- Limited-Policy-on-Material-Subsidiary.pdf

InterGlobe Aviation Ventures LLP

Apart from the aforesaid subsidiaries of the Company, InterGlobe Aviation Ventures LLP has been incorporated as a Limited Liability Partnership between the Company and Agile during the year, on November 30, 2023, to engage with high potential startups in order to provide early access to disruptive technologies, offering a competitive edge and market intelligence to IndiGo.

4. Operational Performance

A. Operations and growth

IndiGo continued its growth in FY 2024 when it operated a total of 697,389 flights, a 17% increase compared to FY 2023. The Passenger Load Factor increased from 82.1% in FY 2023 to 85.9% in FY 2024, demonstrating strong demand in the markets where IndiGo operates.

In FY 2024, IndiGo also achieved the milestone of carrying more than 100 million passengers in one year, reaching 106.42 million passengers. This represents a 24% increase compared to the 85.59 million passengers transported in FY 2023.

During the year, IndiGo:

• Operated scheduled services to 118 destinations, including 10 new domestic and 7 new international destinations

• Completed 1,182 cargo flights, transporting more than 360,000 tons of cargo

• Performed 2,767 charter flights (2,733 Military Charter and 34 Pax Charter)

Our peak operation reached 2,016 daily flights (2,001 in the commercial schedule and 15 military flights), which represents an 11% increase compared to the 1,815 peak daily flights operated in FY 2023.

IndiGo's On-Time Performance (OTP) for FY 2024 was 81.3% on DGCA metros. IndiGo also maintained a technical dispatch reliability of 99.9% (as published by Airbus in February 2024), supporting the highest operational integrity.

B. Inducting aircraft and procedures to save fuel

As of March 31, 2024, our fleet consists of 192 Airbus A320 neo, 94 Airbus A321 neo, 20 Airbus A320 CCO, 45 ATR aircraft, 3 A321 Freighters (P2F), 2 B777 (damp lease) and 10 A320 (damp lease). During FY 2024, we inducted 45 new fuel-efficient Airbus neo powered by CFM LCAP-1A engines, 1 A320 CCO, 6 ATR Aircraft, 1 A321 Freighter (P2F), 1 B777 and 10 A320 (damp lease).

In addition to increasing the mix of new, fuel-efficient aircraft in its fleet, IndiGo strives to adopt and implement cutting- edge measures to reduce fuel consumption and carbon emissions. This includes fuel monitoring, pilot awareness of green policies, engine and fuselage cleanings and weight reduction initiatives, which will be progressively implemented in the ATR fleet.

C. Operational Initiatives

IndiGo continues to improve its customer interactions, with its social media channels receiving a 49% increase in volume vs. FY 2023, reaching more than 1 million cases. Response times improved by 56%, from 114 minutes in FY 2023 to 49 minutes in FY 2024. IndiGo continues investing in technologies, processes and people aimed at efficiency improvements and adopting cutting-edge IT solutions to enhance customer support, such as the implementation of salesforce across all communication channels. These new tools allow IndiGo to maintain high service levels while managing increased demand (e.g., in FY 2024, our call centers received more than 90 million calls, a 21% increase from the previous year).

We remain committed to providing outstanding training for our staff and in FY 2024, there was a 28% increase in the total headcount trained at iFly, our in-house training facility, completing almost 120,000 individual training programs. Following last year's launch of Competence-Based Training & Assessment (CBT) and Evidence-Based Training (EBT) in the Airbus fleet, this year IndiGo became the first airline operator globally to launch and implement the same programs in the ATR fleet.

IndiGo's Flight Operations team continued to pursue initiatives to increase safety, operational efficiency and reduce disruptions caused by adverse weather. One such measure is DGCA's approval to reduce Landing Minimas under certain conditions, which will safely allow a more reliable and efficient service to passengers during the winter season.

Our teams are collaborating with the AAI's Central Air Traffic Flow Management (CATFM) team to ensure better coordination of operations and reduce delays. Additionally, we have implemented more efficient aircraft lateral separation rules to increase airspace capacity and allow flying more fuel-efficient routes.

IndiGo continues its digitalisation and adoption of AI tools to improve efficiency. We are partnering with Airbus on predictive aircraft maintenance, leading the way in using Airbus' Skywise Aircraft Health Monitoring platform and continuing to transition core software suites to cloud-based solutions, enhancing robustness and productivity.

Our Airport Operations and Customer Service team are integrating fuel-efficient Combo Units (Ground Power + Air conditioning) to serve aircraft during airport turnarounds. We are also introducing environmentally friendly equipment in our operations, with more than 220 green passenger coaches, light vehicles and baggage tugs introduced this year, replacing older equipment.

5. Dividend

The Dividend Distribution Policy of the Company is available on the website of the Company and can be accessed at https://www.goindigo.in/content/dam/goindigo/investor-relations/policies/2021/InterGlobe-Aviation-Limited-Dividend- Distribution-Policy.pdf The Policy sets out the parameters and factors to be considered by the Board in determining the distribution of dividend to its members and/or retaining profits of the Company. There has been no change in this Policy during the year under review.

Based on the Company's performance, cash flow position and the losses carried forward from the previous years, the Board has not recommended any dividend on the equity shares of the Company for FY 2024.

6. Transfer to General Reserve

The Directors do not propose to transfer any amount to reserves.

7. Employee Stock Option Schemes

During the year under review, the members of the Company approved the 'InterGlobe Aviation Limited - employee Stock Option Scheme 2023'.

There has been no material change in the existing ESOP Schemes of the Company viz. 'InterGlobe Aviation Limited - employee Stock Option Scheme 2015 and 2023' and the Schemes have been implemented in compliance with relevant/ applicable ESOP Regulations/ Guidelines.

The Secretarial Auditors, M/s. RMG & Associates, Practising Company Secretaries, have certified that the Employee Stock Option Schemes of the Company have been implemented in accordance with the applicable Regulations and the resolutions passed by the members in this regard.

The disclosure(s) as required under the SEBI (Share Based Employee Benefits and Sweat Equity) Regulations, 2021 are disclosed on the website of the Company and can be accessed at https://www.goindigo.in/content/dam/goindigo/ investor-relations/other-related-documents/2023-24/statement-under-Reg-14-of-the-SEBI-share-based-employee-benefits- andsweat-equity-regulations-2021 -2024.pdf

8. Increase in Capital Structure

During the year under review, 431,590 equity shares of Rs. 10/- each were allotted on exercise of vested Stock Options by the eligible employees of the Company. Consequently, the issued and paid-up share capital of the Company as on March 31, 2024 was Rs. 3,859,786,890 divided into 385,978,689 equity shares of Rs. 10/- each.

9. Related Party Transactions

The Company had adopted 'InterGlobe Aviation Limited - Policy on dealing with Related Party Transactions' ("RPT Policy") in compliance with Regulation 23 of the SEBI LODR Regulations. During FY 2024, there has been no change in the RPT Policy. The transactions entered into by the Company with its related parties were in compliance with the RPT Policy and in the best interest of the Company. The RPT Policy is available under the Investor Relations section of the website of the Company at https://www.goindigo.in/content/dam/goindigo/investor-relations/policies/2021/IGRL-Policy-on-Related-Party- Transactions-2019.pdf.

All the contracts/ arrangements/ transactions entered into by the Company with its related parties during FY 2024, were in the ordinary course of business and on an arm's length basis and were approved by the Audit Committee. We have obtained necessary approvals, as required, in accordance with the RPT Policy.

During FY 2024, the Company has not entered into any arrangement/transaction/contract with its related parties which could be considered material and required approval of the Board or the members. Accordingly, the disclosure of the particulars of the related party transactions in form AOC -2 as required under Section 134(3)(h) of the Act is not applicable.

For further details of related party transactions during the year, please refer to note number 36 of the notes forming a part of the standalone financial statements, attached to the Annual Report.

10. Directors and Key Managerial Personnel Directors

As on March 31, 2024, the Board comprised of eight (8) members with an appropriate mix of Non-Executive Directors, executive Directors and Independent Directors.

In terms of applicable provisions of the Act and the Articles of Association of the Company, Mr. Anil Parashar (DIN: 00055377), Director of the Company retires by rotation at the ensuing annual general meeting and is eligible for appointment. The notice of the ensuing annual general meeting includes the proposal for appointment of Mr. Parashar.

Ms. Pallavi Shroff was appointed as an Independent Director w.e.f September 19, 2019 for a period of five (5) years. Her term is due to expire on September 18, 2024. Being eligible in terms of the Act and the SEBI LODR Regulations, the Board on the recommendation of the Nomination and Remuneration Committee has approved, re-appointment of Ms. Pallavi Shroff for a period of five (5) years, subject to passing of special resolution by the members.

Brief resume and other details of Mr. Anil Parashar and Ms. Pallavi Shroff have been furnished in the Annexure of the notice of annual general meeting.

The Company has received declarations from all the Independent Directors confirming that they meet the criteria of independence as prescribed in the Act and the SEBI LODR Regulations.

I n the opinion of the Board, the Independent Directors of the Company are persons of high repute, integrity and possess the relevant expertise and experience in their respective fields. They fulfil the conditions specified in the Act, rules made thereunder and SEBI LODR Regulations and are independent of the management.

None of the Directors on the Board of the Company have been debarred or disqualified from being appointed or continuing as Directors of companies by the Securities and Exchange Board of India, Ministry of Corporate Affairs or any other statutory authority.

Key Managerial Personnel

During the year, Mr. Sanjay Gupta resigned as Company Secretary and Chief Compliance Officer of the Company effective end of day, February 2, 2024. The Board of Directors on the recommendation of the Nomination & Remuneration Committee, appointed Ms. Neerja Sharma as Company Secretary and Chief Compliance Officer of the Company effective February 3, 2024.

Mr. Rahul Bhatia, Managing Director, Mr. Pieter Elbers, Chief executive Officer, Mr. Gaurav Negi, Chief Financial Officer and Ms. Neerja Sharma, Company Secretary and Chief Compliance Officer are the Key Managerial Personnel of the Company in accordance with the provisions of Section 2(51) and 203 of the Act read with Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014.

11. Number of Meetings of the Board

During FY 2024, fifteen (15) meetings of the Board of Directors were held. For details of these Board meetings, please refer to the section Report on Corporate Governance of this Annual Report.

12. Committees of the Board

As on March 31, 2024, the Board had the fallowing five committees:

i. Audit Committee

ii. Nomination and Remuneration Committee

iii. Risk Management Committee

iv. Corporate Social Responsibility Committee

v. Stakeholders Relationship Committee

The details of the composition, terms of reference, number of committee meetings held during FY 2024 and attendance of the Committee members at each meeting are given in the Report on Corporate Governance which forms a part of the Annual Report.

13. Annual evaluation of the Board, its Committees and Individual Directors

Pursuant to the provisions of the Act and the SCSI LODR Regulations, a process is carried out on an annual basis to evaluate the performance of the Board, Board Committees, Chairperson of the Board and all Directors, including Independent Directors. The evaluation is aimed at improving the effectiveness of all these constituents and enhancing their contribution to the functioning of the Board.

For FY 2024, on the recommendation of the Nomination and Remuneration Committee (NRC), a structured questionnaires were prepared covering various aspects of the Board's functioning such as adequacy of the composition of the Board and its Committees, Board culture, governance etc that were sent directly to the Board Members. This was supplemented by individual conversations with each of the Board Members. A similar exercise was carried out to evaluate the performance of each of the Board Committees and individual Directors.

The evaluation process was led by the Chairperson of the NRC with support from the Chairperson of the Board.

The results of evaluation of the Directors, Board and its various Committees were subsequently discussed by the Board at its meeting and the areas for improvement of the functioning were noted.

In a separate meeting of the Independent Directors, performance of the Non-Independent Directors, Chairperson of the Board and the Board as a whole, were also discussed, taking into account the views of executive and Non-Executive Directors.

14. Remuneration Policy

We have adopted the 'InterGlobe Aviation Limited - Nomination and Remuneration Policy' in compliance with provisions of the Act and SEBI LODR Regulations, for identification, selection and appointment of Directors, Key Managerial Personnel (KMPs) and Senior management of the Company. The Policy lays down the process and parameters for the appointment and remuneration of the KMPs and other Senior management personnel and the criteria for determining qualifications, highest level of personal and professional ethics, positive attributes, financial literacy and independence of a Director. The Policy is available on the website of the Company at https://www.goindigo.in/content/dam/goindigo/investor-relations/ policies/2021/InterGlobe-Nomination-and-Remneraion-Policy.pdf

There has been no change made in the Remuneration Policy during the year under review.

15. Succession Planning

We have been following a rigorous process of leadership talent review, named "Talent Council". As an outcome of the Talent Council, we discuss and identify successors for all leadership roles. These successors are identified at three different levels of readiness. We focus on developing this pool of identified successors through diverse learning experiences and work on filling the gaps through external talent. We are consciously transitioning from a function vertical specific succession strategy to building a pool of fungible leaders who can assume new roles in any work context.

16. Risk Management Framework

The Company has a structured Enterprise Risk Management framework ("ERM framework") based on the guiding principles from SEBI of identifying, assessing and mitigating the risks. We have strong and robust internal processes to monitor & manage risks and it forms an integral part of decision-making and is dynamic in nature, undergoing continuous improvement. The ERM framework follows an annual process of setting objectives, identifying key risks on an ongoing basis, developing a mitigation action plan and monitoring.

The Risk Management Committee has been empowered to frame, implement and monitor the risk management practices. The Committee has been entrusted with systematically overseeing, reviewing and updating the risk management calendar, based on certain risks becoming more important during the year. The Committee meets on regular intervals and discusses risks relating to airline security & safety, supply-chain disruptions, unfavourable fuel and forex movement, competition, adverse regulatory changes and litigations, pandemic, talent retention, cyber threat and data protection, employee health and labour relations, sustainability and climate change, business continuity plan, reputation, aircraft grounding and any other new risk that may be identified by the management.

The Audit Committee has additional oversight in the area of financial risks and the Nomination and Remuneration Committee ensures there is a succession plan in place for leadership team.

A note on key risks of the Company is given in the Management Discussion and Analysis Report which forms a part of the Annual Report.

17. Corporate Social Responsibility

A brief outline of the Corporate Social Responsibility ("CSR") Policy of IndiGo and the initiatives undertaken by it on CSR activities during the year are set out in Annexure - A to this Report, in the format prescribed in the Companies (Corporate Social Responsibility Policy) Rules, 2014.

For other details regarding the CSR Committee, please refer to the Report on Corporate Governance, which forms a part of the Annual Report.

The Corporate Social Responsibility Policy as approved by the Board is available on the Investor Relations section of the website of the Company at https://www.goindigo.in/content/dam/goindigo/investor-relations/policies/InterGlobe-Aviation- Limited-Corporate-Social-Responsibility-Policy-2.pdf.

There has been no change made in the CSR Policy during the year under review.

18. Statutory Auditors

M/s S.R. Batliboi & Co. LLP, Chartered Accountants (ICAI Firm Registration Number 301003E/E300005) were appointed as Statutory Auditors of the Company at the 16th AGM held on August 27, 2019 to hold office from the conclusion of the said meeting till the conclusion of the 21st AGM to be held later this year. The term of office of M/s S.R. Batliboi & Co. LLP, as Statutory Auditors of the Company will conclude from the close of the forthcoming AGM.

The Board of Directors, based on the recommendation of the Audit Committee, at its meeting held on May 23, 2024, reappointed M/s S.R. Batliboi & Co. LLP, Chartered Accountants as the Statutory Auditors of the Company to hold office for a second term of five consecutive years from the conclusion of the 21st AGM till the conclusion of the 26th AGM to be held in the year 2029.

The Board recommends their reappointment to the members. The notice convening the 21st AGM to be held on August 23, 2024 sets out the details.

M/s S.R. Batliboi & Co. LLP have audited the financial statements of the Company for the year under review. The observations of Statutory Auditors in their Report read with relevant Notes to Accounts are self-explanatory and therefore, do not require further explanation. The Auditors' Report does not contain any qualification, reservation or adverse remark. There were no frauds reported by the Statutory Auditors to the Audit Committee or the Board under Section 143(12) of the Act.

19. Secretarial Auditors

M/s. RMG & Associates, Company Secretaries (Firm Registration Number P2001DE016100) were appointed to conduct secretarial audit of the Company during FY 2024.

The Secretarial Audit Report for the said year is annexed herewith and forms part of this report as Annexure - B. The Report does not contain any qualification, reservation or adverse remark. There were no frauds reported by the Secretarial Auditors to the Board under Section 143(12) of the Act.

20. Cost Audit / Records

Maintenance of cost records and requirement of cost audit as prescribed under the provisions of Section 148(1) of the Act are not applicable for the business activities carried out by the Company.

21. Whistle Blower Policy / Vigil Mechanism

We believe that it is critical to listen to whistle blowers to take the path to sustainable growth and good governance. Any actual or potential violation of the Company's Code of Conduct, or any law governing IndiGo, howsoever insignificant, is a matter of serious concern for us. We understand that timely reporting of such violations could avoid or minimise the Company's reputational or financial losses. To this effect and pursuant to Section 177(9) of the Act and Regulation 22 of the SEBI LODR Regulations, the Company has laid down best-in-class whistle blower/vigil mechanism, which enables timely and reliable reporting of actual or suspected violations.

As part of this, the Company has laid down a Whistle blower Policy, which provides the procedures for employees and other stakeholders to report unacceptable practices, misconduct or violation of its Code of Conduct or laws, provides necessary safeguards to protect whistle blowers from victimisation, retaliation and provides for direct access to the Chairperson of the Audit Committee, in exceptional circumstances. During FY 2024, no person was denied access to the Chairperson of the Audit Committee. The policy is available under the Investor Relations section of the website of the Company at https://www. goindigo.in/content/dam/goindigo/investor-relations/policies/2024/Whistleblower-Policy Updated 02-07-2024.pdf

The whistle blowing mechanism also comprises a whistle blower helpline, named the "6C ethics Helpline". This provides whistle blowers five channels to report violations, including toll-free hotline, email, web portal, chatbot and postal mail. Four of these reporting channels provide whistle blowers the choice to report anonymously. IndiGo takes pride in successfully implementing its whistle blowing helpline in ways that have instilled confidence amongst employees and other stakeholders to raise their concerns.

All complaints of suspected violations are taken seriously and reviewed promptly. All investigations are carried out objectively and independently, following the principles of natural justice. Based on the nature and severity of the violation of the Code of Conduct, the Company policies and/or the law, appropriate action is taken. The Audit Committee oversees the implementation of the Policy and reviews the resolution of complaints on a quarterly basis.

22. Disclosure under Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013, as Amended ("POSH ACT")

IndiGo has a zero-tolerance policy towards sexual harassment at workplace reported by any woman against an employee. The Company has constituted an Internal Committee which has a female Chairperson who is a member of our Senior management team and also has an external female member who is a lawyer. The Internal Committee ensures that all matters are resolved in a timely manner.

We have a robust internal mechanism and policy on 'Prevention of Sexual Harassment at Workplace' to deal with such matters. All employees are sensitised to the policy right from the day of employment. We also conduct awareness programs for employees on the policy and have awareness campaigns with details of how to report a complaint along with the details of the Internal Committee members, which are displayed across all our working locations. The Internal Committee ensures that all cases reported are resolved in a timely manner, in accordance with the POSH Act. All investigations are handled in a very objective, sensitive and fair manner without attaching any prima-facie guilt to the respondent merely upon receipt of a complaint against the employee. Utmost confidentiality is maintained while handling these matters.

For details on the cases reported and resolved during FY 2024 and the mechanism followed by the Company while dealing with such cases, please refer to the Business Responsibility and Sustainability Report forming part of the Annual Report.

23. Internal Financial Controls and their Adequacy

An adequate Internal Financial Control (IFC) system has been put in place to ensure compliance with various policies, practices and statutes. The Company ensures that such IFC systems are commensurate with the size and complexity of our business and are adequate and operating effectively on an ongoing basis.

The Board has adopted policies and procedures for:

• Timely preparation of reliable financial information

• effectiveness and efficiency of operations

• Accuracy and completeness of the accounting records

• Adequacy of safeguards for assets

• Prevention and detection of frauds and errors

The details in respect of IFC and their adequacy are included in the Management Discussion and Analysis Report, which forms part of the Annual Report.

24. Public Deposits

The Company has neither accepted nor renewed any deposits during FY 2024 in terms of Chapter V of the Act.

25. Particulars of Loans, Investments and Guarantees

The particulars of loans, investments and guarantees as on March 31, 2024, covered under Section 186 of the Act read with the Companies (Meetings of Board and its Powers) Rules, 2014, as amended and SEBI LODR Regulations, are given in the notes to the standalone financial statements, which forms part of the Annual Report.

26. Material Changes and Commitments Affecting the Financial Position of the Company, between the end of the Financial Year FY 2024 and the date of this Report

Other than as stated elsewhere in this Report, there are no material changes and commitments affecting the financial position of the Company between the end of the financial year and the date of this Report.

27. Management Discussion and Analysis Report

The Management Discussion and Analysis Report on the Company's financial and operational performance, industry trends and other required details prepared in compliance with Regulation 34 of the SEBI LODR Regulations for FY 2024 forms a part of the Annual Report.

28. Report on Corporate Governance

In compliance with Regulation 34 read with Schedule V of the SEBI LODR Regulations, the Report on Corporate Governance of the Company, inter-alia, covering composition, details of meetings of the Board and its Committees, together with a certificate from the Secretarial Auditors regarding compliance of conditions of corporate governance, forms a part of the Annual Report.

A certificate from the Chief executive Officer and Chief Financial Officer in terms of Regulation 17 of the SEBI LODR Regulations, inter-alia, confirming the correctness of the financial statements and cash flow statements, adequacy of the internal control measures and reporting of matters to the Audit Committee, also forms a part of the Annual Report.

In terms of SEBI LODR Regulations, a certificate from M/s RMG & Associates, Company Secretaries (Firm Registration No. P2001DE016100) confirming compliance of the conditions of Corporate Governance are annexed hereto and forms part of this Annual Report.

29. Business Responsibility and Sustainability Report

In compliance with SEBI LODR Regulations, the Business Responsibility and Sustainability Report for FY 2024 describing the various initiatives undertaken from an ethical, environment, social and governance perspective during FY 2024 forms part of the Annual Report

30. Annual Return

In terms of Sections 92(3) and 134(3)(a) of the Act, annual return is available under the 'Investors' section of the Company's website, www.goindio.in and can be viewed at the link: https://www.goindigo.in/content/dam/goindigo/investor-relations/ other-related-documents/2023-24/Annual-Return-MGT-7-FY-2023-24.pdf.

31. Significant Material Orders Passed by the Regulators, Courts and Tribunals

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

32. Awards and Recognitions

During FY 2024, we received multiple awards and recognition. Details in respect of such awards and recognition received by the Company are captured at Page No. 34-35, which forms a part of the Annual Report.

33. Directors' Responsibility Statement

Pursuant to Section 134(5) of the Act, the Board, based on representations received from the management and the processes involving the Company's statutory and internal audit functions, and to the best of its knowledge, ability and due inquiry, confirms that:

i. In preparation of the annual accounts, applicable accounting standards have been followed and proper explanation for any material departures has been provided.

ii. Applicable accounting policies have been selected and applied consistently in order to form views/make judgments and estimates that are reasonable and prudent. This is intended to facilitate a true and fair view of the state of affairs of the Company at the end of FY 2024 including profit/loss of the Company for that period.

iii. Proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of the Act is taken for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities.

iv. Annual accounts have been prepared on a going concern basis.

iv. I nternal Financial Controls (IFCs) to be followed by the Company have been laid down and such IFCs are adequate and operating effectively.

vi. Proper systems have been devised to ensure compliance with the provisions of all applicable laws and such systems are adequate and operating effectively.

34. Particulars of Employees

The statement containing disclosure of remuneration under Section 197(12) of the Act read with Rule 5(1) of the Companies (Appointment and Remuneration of Managerial Personnel), Rules, 2014, as amended is given in Annexure - C forming a part of this Report. The information as per Rule 5(2) and Rule 5(3) of the abovementioned Rules pertaining to the names of top ten employees and other particulars of employees is provided in a separate annexure. However, as per the provisions of Section 136(1) of the Act and the Rules made thereunder, the Annual Report and the financial statements, excluding the aforesaid annexure, are being sent to the members, and other persons entitled thereto. Any Member interested in obtaining this statement, may write to the Company Secretary requesting for the same.

None of the employees listed in the Annexure is related to any Director of the Company.

35. Transfer to Investor Education and Protection Fund

During the year under review, the Company transferred unpaid/ unclaimed dividend, amounting to Rs. 2,51,355 for FY 2016 (Final Dividend) to the Investor Education and Protection Fund (IEPF) Authority of the Central Government of India.

36. Conservation of Energy, Technology Absorption

We persistently strive to run our operations more efficiently to reduce fuel consumption and resultant fuel emissions. This endeavour entails IndiGo's continuous commitment towards conservation of energy and motivates it to embrace newer technological advances.

The Company has incorporated policies, including flight and ground procedures, for conservation of fuel and has trained flight crew and aircraft maintenance engineers to ensure that fuel is conserved to the extent it is safely possible.

The Company ensures that there is adequate fuel for its aircraft, after evaluating various traffic trends in the air and also on the ground, thus avoiding any additional/ unnecessary fuel upliftment. The Company has installed software for accurate flight planning. These software provide accurate maps and the most efficient flight path, employing continuous descent approaches and economy cruise speeds. It also provides recommendations for optimising engine settings for take-off and climb. Further, innovative statistical data driven solutions has been adopted along with recommended manufacturer upgrades for descent profile optimisation. We are also working with Airbus on big data analytics using Airbus platforms like SKYWISE.

The Company has also adopted fuel policies designed to reduce costs on the ground, including the use of the Eco-Power Cngine Wash process for aircraft engines, the use of ground equipment in place of aircraft auxiliary power units (which consume more fuel), use of single engine for taxiing on ground and introduction of other engineering/operating protocols.

We continue to use technology to enhance processes to ensure safe and comfortable travel by air which helped gain customer confidence in IndiGo. Innovation such as solar Baggage Freight Loader (BLF) and Combo unit [combined Ground Power Unit (GPU) and Aircraft Cooling Unit (ACU)], helped in saving Air Turbine Fuel, reducing carbon emissions. We are investing in Combo units which reduce Auxiliary Power Unit (APU) usage on ground and helped in reducing APU fuel burn and reducing carbon footprint.

We are engaged with stakeholders to collaborate on multiple air space optimisation initiatives like shortening of routes, optimum flight levels, promulgation of required navigation performance (RNP) approaches, LPV (localiser performance with vertical guidance) approaches, reduction of distance through conditional routes (CDR). Our ongoing efforts involve close cooperation with the authorities to secure approval for RNP AR. In comparison to other RNAV procedures, RNP AR offers notable operational and safety advantages, as well as introducing enhanced navigation capabilities in terms of precision and integrity.

Our ability to reduce approximately 44,128 tonnes of carbon emissions is attributed to the use of CDR, re-dispatch techniques, improved planning for the nearest alternate and optimizing flight levels.

With the introduction of more EDTO equipped aircraft, we are strategically positioned to optimise overseas routes enabling us to achieve higher levels of operational efficiency. By utilising EDTO, we aim to decrease carbon emissions by 2131 tonnes.

Our newly inducted ATR aircrafts with XT engines enable a fuel saving of 3% compared to earlier engine variant. We are also working with the manufacturer to upgrade our existing fleet with XT engines.

We have been consistently collaborating with Air Navigation Service Providers and Air Authority of India to align separation minima with International Civil Aviation Organisation (ICAO) recommendations, which has led to the implementation of a surveillance separation minimum of 5 NM between identified aircraft, within terminal airspaces. This proactive measure has resulted in tangible benefits such as reduced fuel consumption and a decrease in carbon emissions.

Further, operational endeavours have helped save carbon emissions to the tune of approximately 66,000 tonnes through single engine taxiing, decent profile optimisation, reduced flap take-off & landing and focused fuel uplift.

The Company has sought to reduce the weight of its aircraft by selecting lighter seats and by choosing not to have in- flight entertainment systems. The aircraft weight has been further reduced by equipping the entire fleet with electronic Flight Bags (EFB) and removing paper manuals weighing 40kg from each Airbus aircraft. As an example, this small initiative alone will annually save fuel to the tune of 980 tonnes/3,110 tonnes of carbon emissions approximately.

We continue to explore the feasibility of using ground vehicles on cleaner alternative fuels like CNG/electricity to reduce carbon emissions at airports.

37. Compliance with Secretarial Standards

The Company is fully compliant with the applicable Secretarial Standards (SS) viz. SS-1 & SS-2 on Meetings of the Board of Directors and General Meetings respectively.

38. Foreign exchange Earnings and Outgo

The details of foreign exchange earnings and outgo for FY 2024, on an accrual basis, are set out below:

39. Acknowledgement

The Board is grateful for the continuous patronage of our valued customers and remains committed to ensuring that the Company provides an on-time, courteous and hassle-free experience. The Board acknowledges and appreciates the hard work and dedication of employees of the Company who have stood strong and worked together as a team during FY 2024. We also take this opportunity to express its appreciation to the Central and State governments, regulatory authorities, investors, bankers and all other stakeholders for their trust and support and reaffirms its commitment to be the airline of choice for all its stakeholders.