Inland Printers Ltd Management Discussions

Your Directors have pleasure in presenting the management discussion and analysis report for the year ended on March 31, 2025. The Management Discussion and Analysis have been included in consonance with the Code of Corporate Governance as approved by The Securities and Exchange Board of India (SEBI). Investors are cautioned that these discussions contain certain forward looking statements that involve risk and uncertainties including those risks which are inherent in the Companys growth and strategy. The company undertakes no obligation to publicly update or revise any of the opinions or forward looking statements expressed in this report consequent to new information or developments, events or otherwise.

The Management of the Company is presenting herein the overview, opportunities and threats, initiatives by the Company and overall strategy of the Company and its outlook for the future. This outlook is based on Managements own assessment and it may vary due to future economic and other future developments in the country.

ECONOMIC OVERVIEW

The print industry has been plunged into a perfect storm. COVID-19 has propelled digital transformation and shifted its paradigm to "web-to-print", implying that industry players can no longer wait. As we know, every crisis comes with opportunities. While the print industry has undoubtedly taken a severe hit during the pandemic, 2024 will be the year when industry players will be pushed to capitalize on opportunities beyond printing.

The challenge of operating during the lockdown has affected the hierarchy of operations. While some of the restrictions may recede over time, others could have a long-lasting impact. Advanced print technology has a far-fetched future, embracing innovative media and communication waves that go beyond imagination. Though print is not much in use, the industry is all set to expand due to privacy issues and oversaturation that digital platforms experience.

The consensus reveals that significant changes are ahead. Some of the leading printing companies are adapting to innovative ways and adopting digital printing technology for customization.

Newspaper printing and magazines were the worst hit during the pandemic. The sales stopped because of widespread work-from-home, and readers switched to online channels. Even IKEA stopped publishing catalogues to control the budget – the most critical printing job worldwide. The graphics industry – PoS (point of sale) and wide-format display were affected by lockdowns as people stopped visiting shops, bars, restaurants, and hotels. Also, commercial printing like newsletters, manuals, and business forms suffered severely. This radical decline in demand saw several service providers shut down. Post-pandemic, a new and open environment will create better opportunities for companies that managed to survive. Once this happens, there will be fewer instances of low-value printing operations happening.

INDUSTRY STRUCTURE AND DEVELOPMENT

The company is actively considering expansion, support growth plans of the Company, long-term working capital, general corporate purposes and to peruse the main object of the company as stated in its Memorandum of Associates (MOA).

OPPORTUNITIES & THREATS

The growth of the Company is subject to opportunities and threats as are applicable to the industry from time to time. The Company has risk management policy in place for risk assessment and treatment of the same. The company does not foresee any major threats to its growth and market share in the coming years. The existing capacity should take care of the companys requirement at least for the next four to five years.

SEGMENTWISE PERFORMANCE:

The Companys business activities during the year could not generate any income. Therefore, the requirement of segment wise reporting is not applicable.

OPPORTUNITIES/ OUTLOOK:

The company is taking all steps to restart the business & expects a better outlook in the coming years.

THREATS:

The major threat for the company is the fact that the company does not have any funds presently.

RISKS AND CONCERNS:

Your company is taking adequate measures to safeguard against Risks & Concerns.

INTERNAL CONTROL SYSTEM AND THEIR ADEQUACY:

Your Company has been maintaining an adequate internal control system commensurate with the size & nature of its business.

HUMAN RESOURCES POLICIES:

The company considers human resources as most valuable assets, among all other assets of the Company. Envisaging the future expansion, the policy of the company is to actuate the talent by providing opportunities to develop themselves within the organization.

CAUTIONARY STATEMENT:

Due to unfavourable market conditions your company is facing profitability problems. However, your management is making optimum efforts to minimize the overheads & cost reduction.

FINANCIAL MANAGEMENT AND FINANCIAL PERFORMANCE:

The Company is in the process of financial restructuring which will help the Company to reflect better its operational efficiency, improvements in the future years and reflect the true shareholder value. Further, there would be a positive impact on the various key financial ratios such as Net Profit Margin, Return on Capital Employed and Return on net worth etc.

ENVIRONMENTAL ISSUES:

As the company is not carrying on any manufacturing activity, the matter relating to produce of harmful gases and the liquid effluents are not applicable.

DETAILS OF SIGNIFICANT CHANGES (I.E. CHANGE IN 25% OR MORE AS COMPARED TO THE IMMEDIATELY PREVIOUS FINANCIAL YEAR) IN KEY FINANCIAL RATIOS:

NOT APPLICABLE SINCENO SIGNIFICANT CHANGE

DISCLOSURE OF ACCOUNTING TREATMENT:

Not applicable since no different treatment from that prescribed in an Accounting Standard has been followed.

STATUTORY COMPLIANCES:

Being a responsible legal entity, the company has duly complied with all the compliances with all the regulatory authorities during the year under review.

CAUTION:

Statements which are based on and describe about managements expectations, estimates, projections, objectives, intentions and assumptions are forward looking statements. Words such as "expects," "anticipates," "plans," "believes," "scheduled," "estimates" and variations of these words and similar expressions are intended to identify forward-looking statements, which include but are not limited to projections of revenues, earnings, segment performance, cash flows. Forward-looking statements are made pursuant to the Companies Act, 2013, securities laws and all other applicable acts, statues, rules and regulations as amended from time to time. These statement are not guarantees of future performance and involve certain risks and uncertainties, which are difficult to predict. Therefore, actual future results and trends may differ materially from what was forecasted in forward-looking statements, expressed or implied.

The Company does not undertake any obligation to update or publicly release any revisions to forward-looking statements to reflect events, circumstances or changes in expectations after the date of this report.

For and on behalf of the Board Inland Printers Limited

Sd/- Sd/-

Bhavesh Ramanlal Patel Kishor Krushna Sorap

Director Whole Time Director DIN: 07144964 DIN: 08194840

Place: Mumbai Date: 30^th August, 2025