Associated Coaters Ltd Management Discussions

<dhhead> MANAGEMENT DISCUSSION AND ANALYSIS REPORT </dhhead>

The discussion and analysis of our financial condition and results of operations is based on our Financial Statementsforthe period ended 31st March, 2025.

This discussion contains forward looking statements and reflects our current views with respect to future events and financial performance. Actual results may differ materially from those anticipated in these ForwardLooking Statements as a result of certain riskfactors existing in the industry.

We are a specialized service provider in the field of surface treatment and powder coating, with a core focus on the pretreatment and powder coating of aluminium extrusions. Over the years, we have developed a strong technical foundation and industry expertise, enabling us to cater to a wide range of client requirements with precision and reliability. Our range of services includes Powder Coating, PVDF Coating, Wood Finish Coating, and Industrial Fabrication. Each of these services is delivered using advanced techniques and quality materials to ensure long lasting performance, aesthetic appeal, and compliance with industry standards.

Our company is proudly certified under ISO 9001:2015 for our Quality Management System, which reflects our unwavering commitment to quality, consistency, and customer satisfaction. We strive to deliver work that not only meets but exceeds client expectations in terms of material standards, workmanship, scheduling, and overall project execution. Our processes are designed to maintain high efficiency, ensure safety, and uphold environmental responsibility while maintaining profitability and competitiveness in the market.

We have built a solid reputation and longstanding relationships with a diverse clientele, which includes some of the most respected names in the private sector. Through our network of experienced fabricators and collaborators, we have successfully executed projects for prominent organizations such as Infosys, Shyam Steel, Bandhan Bank, Merlin Elements, and Ambey Gateways, among others. Our sustained growth and client trust stand as a testament to our dedication to excellence, innovation, and integrity in every project we undertake.

While, we offer majority of our services in eastern India, however we gradually intend to expand our business operations domestically and internationally. We plan to diversify and expand our presence in other Indian states for the growth of our business.

Specialized Services: The Company specializes in the pretreatment and powder coating of aluminium extrusions, showcasing a high level of expertise in its niche.

Strategic Location: Situated strategically in Kolkata, with a strong presence in eastern India, the company has positioned itself as a key player in the region.

Approved Applicator: The status of being the first approved applicator of Akozonobel, Jotun, and Asian Paints in architectural coating in eastern India establishes a strong competitive advantage.

Certifications: Being an ISO 9001:2015 certified organization reflects the Companys commitment to quality management systems and adherence to international standards.

Diverse Coating Lines: The Company has invested in various coating lines, including automatic powder coating, wood finish, and PVDF coating, showcasing versatility in its services.

Limited Geographic Presence: While the Company has a strong presence in eastern India, there might be opportunities for expansion in other regions that are yet to be explored.

Dependence on Specific Suppliers: Reliance on specific suppliers for raw materials may pose a vulnerability in the supply chain if any disruptions occur.

Market Expansion: Exploring untapped markets in other Indian states and international regions can provide avenues for business growth.

Diversification of Services: The company can explore diversifying its services further,

Potentially expanding into related segments within the coating industry.

Growing Industry: The increasing demand for powder coating and architectural coating presents opportunities for capturing a larger market share.

The Companys philosophy is to establish and build a highperforming organization, where each individual is motivated to perform to the fullest capacity, to contribute to developing and achieving individual excellence and departmental objectives and to continuously improve performance to realize the full potential of our personnel. Industrial relations are cordial and satisfactory.

Strong execution capabilities with industry experience

Existing client relationship

Quality Assurance

Experienced management team

SD/ SDI

Jagjit Singh Dhillon Harbhajan Singh Thethi

DIN:07980441 DIN: 10416459

Address: 197, Diamond Harbour Road Address: 199, Diamond Harbour

Kolkata 700034 Mandal Para, Kolkata 700034

Date: 26.05.2025 Place: Kolkata