B C C Fuba India Ltd Management Discussions

Dear Stakeholders,

B C C Fuba India Limited: Company Overview Introduction

Established in 1985 for the manufacture of professional-grade PCBs, B C C Fuba India Limited was one of the early entrants in the Indian PCB market. The company originated as a joint venture with Fuba Hans Kolbe & Co., Germany, Europes largest PCB manufacturer, and DEG, a prominent European financial institution.

The facility was equipped with state-of-the-art machinery imported from Germany, Italy, France, the UK, the USA, and China. This technological foundation combined the worlds best manufacturing and quality control processes with unique methods developed by Fuba Hans Kolbe & Co. Over the years, B C C Fuba India Limited has continuously advanced its capabilities to keep pace with technological changes and customer needs.

Today, B C C Fuba India Limited boasts a combination of highly advanced equipment and an expert, experienced team, ensuring the highest quality standards. The companys commitment to excellence is reflected in its long list of eminent clients.

The Indian Printed Circuit Board (PCB) industry is entering a transformative phase, driven by strong government support, rising domestic demand, and global supply chain shifts. With the Indian government targeting electronics manufacturing worth USD 500 billion by 2030, PCB and PCBA (Printed Circuit Board Assembly) segments are expected to grow significantly. According to various policy estimates, the value of PCBAs alone could reachUSD 87.5 billion by 2030, while the domestic PCB market, currently estimated at around USD 6.3 billion, is projected to reach USD 24.7 billion by 2033, reflecting a robust CAGR of 15–18% over the next five years.

This growth is being fuelled by initiatives such as the Production Linked Incentive (PLI) scheme , SPECS, and Make in India, which aim to reduce import dependency and promote large-scale domestic manufacturing of components, including PCBs. Additionally, increasing demand fromsectorslike automotive electronics, e-mobility (EVs) 5G infrastructure, telecom, and consumer electronics will continue to push the demand for high-quality, multilayer, rigid-flex PCBs.

Despite the promising growth, challenges such as dependency on imported raw materials (e.g., copper laminates), a gap in advanced PCB technology (like HDI and flexible circuits), and the need for skilled manpower remain critical. However, these challenges also present opportunities for investment in local supply chains, technology partnerships, and workforce development.

With the China+1 strategy gaining global traction and India positioning itself as a trusted PCB industry in India is well-placed to evolve from a largely import-dependent market into a self-reliant and globally competitive hub for PCB and PCBA manufacturing by 2030.

During the year under consideration, there have beensignificant improvements on all fronts. Your Companys revenue from the core Printed Circuit Board manufacturing operations increased to 47,06,85,780, reflecting a 45.89% growth in core revenue-generating activities.

The Company recorded Earnings Before Interest and Tax (EBIT) rising by 44.99%, from 4,09,83,115 in the previous year to 5,94,22,536 in the current year.

Leveraging the strong reputation of the "FUBA" brand for high-quality, professional-grade printed circuit boards, the Company continues to attract new customers while also expanding businessfromexistingclients . Our emphasis on product excellence, customer satisfaction, and cost efficiency has enabled us to enhance our market position both

India and abroad.

We remain committed to delivering sustained growth, strengthening stakeholder value, and capitalizing on emerging opportunities across various high-potential sectors, including automotive, e-mobility, and industrial electronics.

The rise in digitization and the increasing use of electronics and machinery in daily life are driving up demand for electronic components. As PCBs are fundamental to any electronic device, this demand is expected to continue growing. technology and the proliferation of smart devices further accelerate this trend, creating a robust market Innovations for PCB manufacturers. Consequently, companies in this sector are poised for significant growth, meeting the ever-expanding needs of various industries such as consumer electronics, automotive, healthcare, and industrial automation.

The Company has a robust internal control system to safeguard assets against unauthorized use or loss, ensuring transactions are authorized, recorded, and reported accurately. This system is supplemented by internal audits, management reviews, and documented policies, guidelines, and procedures.

Industrial relations within the company have been cordial and satisfactory, fostering a positive working environment. Recognizing the crucial role of human resources, the company is committed to their development, aiming to make the organization a great place to work. This approach not only strengthens employee satisfaction but also enhances overall organizational effectiveness in achieving its strategic goals.

The companys commitment to human resource development includes continuous training and skill enhancement programs, designed to empower employees and ensure they remain at the forefront of industry trends. By investing in their workforce, the company aims to foster innovation and maintain a competitive edge in the dynamic e-mobility sector.

The details of significant changes (25% or more) in the key financial ratios in FY25 compared to FY24 is as follows:

The facts and figures in the Managements Discussion and Analysis describe the companys projections and estimates, which may differ from actual results.