Kilburn Office Automation Ltd Management Discussions

Industry Structure and Developments

The Corporate Insolvency Resolution Process ("CIRP") of the Company was admitted by the Honble National Company Law Tribunal, Kolkata Bench, vide order dated 02 November 2022 under Section 10 of the Insolvency and Bankruptcy Code, 2016 ("IBC"). During the entire CIRP period, the affairs of the Company were managed by the Interim Resolution Professional/Resolution Professional, and the powers of the Board of Directors remained suspended.

Following the completion of the CIRP, the Resolution Plan submitted by Candid Resources Limited was approved by the Honble NCLT on 26 February 2024. Pursuant to such approval, the new management has taken charge as per the terms of the approved Resolution Plan.

As on the date of this Report, the Company has not carried out any business operations for several preceding financial years. The new management is in the process of assessing the condition of the Company, evaluating compliance status, and reviewing available options for revival. No decision has yet been taken in respect of the future business model, business verticals, or operational direction of the Company.

In view of the above, it is currently not practicable or appropriate to comment on industry structure and developments insofar as they relate to the Company.

Opportunities and Threats

Since the Company has remained non-operational, and the new management is still evaluating potential avenues for revival, it would be premature to comment on opportunities or threats pertaining to any specific industry or line of business.

A detailed assessment shall be undertaken after the Board finalizes the business direction and operational roadmap.

Segment-Wise or Product-Wise Performance

The Company has no operational segments and did not undertake any business activity during the financial year under review. Accordingly, segment-wise or product-wise performance does not arise.

Outlook

Given that the Company is at a transition stage following the conclusion of the CIRP, an informed outlook can only be provided once the Board takes strategic decisions regarding the future business activities, operational structure, and revival plan.

A comprehensive outlook shall be presented in the next Annual Report.

Risks and Concerns

As on the date of this Report, the primary risks relate to absence of operational activity, pending regulatory compliances and procedural formalities following CIRP, requirement to restore corporate processes, internal controls, and statutory compliance mechanisms.

The Board is committed to strengthening governance and ensuring full compliance with all applicable laws.

Internal Control Systems and Their Adequacy

The Company has internal control systems commensurate with its size and the nature of its current operations. Although the Company did not have active business operations during the year under review, the internal controls relating to financial reporting, compliance processes, and statutory obligations remained in place and were found to be adequate.

The new management is additionally reviewing the existing framework and will strengthen and expand the internal control systems as and when business operations are revived, ensuring continued reliability, transparency, and regulatory compliance.

Discussion on Financial Performance with Respect to Operational Performance

As there were no operations during the year, financial performance is limited to statutory expenses, CIRP-related accounting treatments (if applicable), and administrative costs. Accordingly, an operational performance discussion is not applicable.

Human Resources / Industrial Relations

The Company did not have active operations during the financial year under review. No major developments took place on the Human Resources or Industrial Relations front.

Key Financial Ratios

In terms of SEBI LODR requirements, key financial ratios are typically disclosed where operations exist. Since the Company had no revenue, no operations, and no active business cycle, most ratios such as Debtors Turnover, Inventory Turnover, Interest Coverage Ratio, Operating Profit Margin, Net Profit Margin etc., are not meaningful for the year under review.

Any material variations in applicable ratios, if arising purely due to absence of operations, have limited analytical value and therefore are not comparable year-on-year.

Return on Net Worth

Return on Net Worth is not meaningful for the financial year under review due to the absence of operations and the ongoing transition post-CIRP.

For and on behalf of the Board of Directors Sd/-

Mr. Yogesh Ramniwas Mandhani Non-Executive Director (DIN: 01691583)

Date: December 9, 2025 Place: Mumbai