Innovative Tyres & Tubes Ltd Management Discussions

In terms of Regulation 34 of SEBI (Listing Obligations and Disclosure Requirements), Regulations, 2015 the Management Discussion and Analysis Report (MDAR) is structured as follows: ? Industry structure and developments ? Opportunities ? Segment-wise or product-wise performance ? Outlook ? Threats, Risk and Concerns ? Internal Control System ? Financial and operational performance ? Material Development in Human Resources Some Statements in this discussion may be forward looking. The Company’s actual results, performance or achievements can thus differ materially from those projected in any such forward-looking statements in the management discussion and analysis on account of various factors such as changes in Government regulations, tax regimes, impact of competition, etc.

The Company is principally engaged in the business of manufacturing and Processing of Automotive Tyres and Tubes. During the year under review the Company came out of CIRP process and started the production as well as Export.

The new management of the Company is well equipped with the vision to take Company towards high growth with optimum utilization of resources of the Company in proper manner. New management is taking diligent efforts to boost the capacity utilization of the Company which remained underutilized in the past few years due to inadequate working capital. The Company is in the process of hiring qualified professionals to stimulate the vision of new management towards the Company. The Company is well placed to encash the opportunity in terms of ease of doing business and the relaxations provided by the government which will accelerate the business of the company in terms of revenue.

The Company was in CIRP since near about 2 years and not been performing well in the past few years with respect to business operations due to tremendous financial pressure which led to inadequate working Capital. The new management of the Company is trying to streamline the business activities of the Company. The extent of impact on the future operational and financial performance of the Company will depend on the future developments, the impact of the CIRP on customers, vendors all of which are to be convinced by the time.

Since, the company operates its business under one segment only the report on segment wise performance is not furnished.

The new management of the Company shall review the existing risk management policy and lay down defined risk management mechanism covering the risk mapping and trend analysis, risk exposure, potential impact and risk mitigation process. Management is yet to set up exercises to be carried out to identify and evaluate, manage and monitor various risk.