ITL Industries Ltd Management Discussions.


The objective of this discussion is to share the Managements view on the various developments in the business environment, challenges and opportunities, as well as to provide an analysis of the Companys performance. This discussion also summarizes the Companys internal control measures and signi cant development in Human Resources. This discussion should be read in conjunction with the Letter to Shareholders, Directors Report, Financial Statements and Notes to Financial Statements included in this Annual Report.


The Industry structure has remained the same in the domestic market. In some new products for Tube & Pipe Manufacturing Company, High Speed Circular Sawing Machines, ITL has captured a reasonable market size. More and more technological advancement and updation of latest technology creates an opportunity to penetrate into new products line & global market in near future.


There is signi cant change in the outlook compared to last year. The Company continues to enhance opportunities for growth by focusing on introduction of new products and putting high emphasis on after sales & services of the products alongwith up gradation of technology.

The Company faces the normal threats, risks and concerns which are associated with competition from local and overseas




Manufacturing Division has achieved Sales / Income of Rs. 6597.14 lacs in the year 2020-21 as against Rs. 5928.94 lacs in the year 2019-20,showing a growth of 11.27% and apart from Bandsaw Machines, designing and manufacturing of equipments for production of Pipes and Tubes as well as Special Purpose Equipment based on customers needs is on up-beat. Some new models of metal cutting machines have been developed in-house and the Company is receiving good response from the customers.


Trading Division of Hydraulics has achieved Sales / Income of Rs. 2973.61 lacs in the year 2020-21 as against Rs. 2582.86 lacs in the year 2019-20, showing a growth of 15.13%. During the current nancial year, the above division is also receiving good orders from the customers.


In current year the Company is con dent of growing much faster in comparison to economy & capital goods industry looking to the present level of orders and enquiries for Manufacturing Division i.e. Bandsaw and Tube & Pipe Manufacturing equipment are showing good sign of recovery.

ITLs outlook on over-seas markets and domestic market are positive on account of its strength on cutting edge technology,

cost and effective after sales services.


The Company is falling under the capital goods industry, the growth of which is determined by overall growth of the Industry. An overall concern is pertaining to the pressure on the pro tability. However, ITL has taken all measures to reduce the Direct and Indirect cost. During the current year, the manufacturing division has shown excellent growth in orders and inquiry due the overall growth of Industry. The advancement of technology and strategic positioning of products is expected to give better results.


The Company has well established internal control systems and to further strengthen the systems, it has appointed an internal Chartered Accountant to carry out Internal Audit and to review the internal control measures. vii) DISCUSSION ON FINANCIAL PERFORMANCE WITH RESPECT TO OPERATIONAL PERFORMANCE:

During the year under review, the sales & other Income of Company Increased from Rs. 8023.40 Lacs to Rs. 8956.49 Lacs showing a growth of 11.63% & pro t after Tax of the Company for the year under review has increased from Rs. 467.54 Lacs to Rs. 504.19 lacs showing a growth of 7.84%. viii) MATERIAL DEVELOPMENTS IN HUMAN RESOURCES / INDUSTRIAL RELATIONS FRONT:

ITL Industries continues to consolidate the belief that employees are our key resource. We continue to maintain a relatively young age factor amongst our employees and we are happy to report that they have taken full advantage of the opportunities that have been created for them. It continues to encourage innovative thinking as well as invest in internal training programs and initiatives for employees. We are proud to say that we are well on our way to establishing a work culture and environment in which every employee feels stimulated and motivated to contribute and perform.

We are proud to report that we have continue to maintain cordial industrial relations, and our employees actively participate in any initiative aimed at improving productivity, co-operation and understanding. This is indeed a proud achievement and we intend to continue to maintain this enviable track record. iv) DISCLAIMER STATEMENT:

Report on Management Discussion and Analysis deals with the Companys objectives, estimates, expectations and forecasting which may be forward looking within the meaning of applicable Security Laws and/ or Regulations. The aforesaid statements are based on certain premises and expectations of future events as such the actual results may however differ materially from those expressed or implied. The Government Regulation, Tax structure, demand-supply conditions, cost of raw material & their availability, nished goods prices and economic development within India and the countries with which the Company has business relationship will have an important bearing on the statements in the above Report. The foregoing discussions and analysis only set out the management perception of the Companys environments, in the coming months, which, by their very nature are uncertain and may undergo substantial changes in view of the events taking place later. Thus, the Company should and need not be held responsible, if, which is not unlikely, the future turns to be something quite different even materially, subject to this management disclaimer, this discussion and analysis should be perused.

For and on behalf of the Board
Rajendra Jain Mahendra Jain
PLACE: INDORE Managing Director Joint Managing Director
DATE: 12/08/2021 DIN-00256515 DIN-00256047