P.M. Telelinnks Ltd Management Discussions

As of April 2023, India was the worlds second-largest producer of crude steel, with an output of 10.14 MT. In FY22, the production of crude steel and finished steel stood at 133.596 MT and 120.01 MT, respectively. The growth in the Indian steel sector has been driven by the domestic availability of raw materials such as iron ore and cost-effective labour. Consequently, the steel sector has been a major contributor to Indias manufacturing output.

The Indian steel industry is modern, with state-of-the-art steel mills. It has always strived for continuous modernisation of older plants and up-gradation to higher energy efficiency levels.

The Indian steel industry is classified into three categories - major producers, main producers and secondary producers.

The Company was incorporated as a Limited Company on 05.03.1980 and was engaged in the business of manufacturing of Cold Roll Steel. In 1997 the Company entered in to Pipes and Tubes of HR and CR steel. In 1999 the company expanded and added galvanizing of tubes and ventured in to different shapes of Tubes and also added Jointing Kits for Telecom Cables.

At present the company is into Trading Activities of IRON and STEELS such as TMT Bars, REBARS, TOWER PARTS etc,

Company has recorded the revenue of Rs. 68,986.51 thousand during 2024-25 as compared to Rs. 3,06,793.48 thousand in 2023-24.

Other incomes is 38.95 for 2024-25.

There is Loss before Tax for Rs. 131.46 thousand 2024-25 of Rs. compared to Profit before Tax of Rs. 1,058.40 thousand in 2023-24.

The Profit After Tax for 2024-25 of Rs. 49.54 thousand as against Profit After Tax of Rs 792.03 thousand in the previous year 2023-24.

The EPS for 2024-25 is Rs. 0.00 thousand as compared to Rs. 0.08 thousand in Previous Year.

Risks are inherent to our business as our operating environment is complex, highly regulated, and dynamic. To attain our strategic growth objectives, protect the interests of all our stakeholders and meeting legal requirements we have an established process of identifying, analysing, and responding appropriately to all business risks. We have a well-embedded Risk Management Framework to ensure that we are well-placed to manage any adverse effect posed by financial, operational, strategic or regulatory related risks.

Our framework adopts appropriate risk mitigation measures for identified risks across functions. The process ensures that new risks, which might arise, or the impact of existing risks which might have increased, are identified and a strategy is put in place for mitigating such risks. The major risks identified by the management are regulatory, competition, supply chain disruption, cyber and data security.

Your Company has a robust and reliable system of internal controls commensurate with the nature of the business, and the scale and complexity of operations. The Company has adopted policies and procedures covering all financial, operating and compliance functions. These controls have been designed to provide a reasonable assurance over:

1. Effectiveness and efficiency of operations

2. Safeguarding of assets from unauthorised use or losses

3. Compliance with applicable laws and regulations

4. Prevention and detection of frauds and errors

5. Accuracy and completeness of the accounting records

6. Timely preparation of reliable financial information

The current system of Internal Financial Controls (IFC) is aligned with the requirement of the Companies Act 2013, The Internal Audit team (IA) function of the Company functionally reports to the Chairperson of the Audit Committee, thereby maintaining its objectivity.

Your directors are focusing to strengths its Domestic Market through expansion of its activities and will make the necessary investment when attractive opportunities arise.

India remains a bright spot in the global steel industry and the steel demand in the country is expected to show a healthy growth of 2025 according to the latest Short-Range Outlook of World Steel Association. Global steel prices generally witnessed a declining trend in June 2025 with prices going down in all the major steel markets compared with the previous month, due to a combination of local and global issues. Prices of most of the finished steel products saw month- on-month decline in India, China, the USA and the European Union. On a year-on-year basis,

however, prices of a few products saw an uptick in India while they came down elsewhere compared with the same month of the previous year

OUTLOOK:

Your company has been following the philosophy of providing the highest quality products and services at the lowest possible prices. Your Companys philosophy to provide high class quality products i.e., full value for money, to consumers would greatly benefit in the long run. Your company will continue to follow this philosophy in the new operations that it is likely to undertake.

HUMAN RESOURCES:

Your Company believes in creating an environment, wherein human resources derive a sense of purpose, passion and personal growth at work, leading to organizational performance. Towards realizing this, the company relies on the four pillars, namely, performance management, talent engagement, Capability development and maintaining cordial industrial relations. It also believes in review of its HR processes and systems on an ongoing basis to optimize costs, time and labour.

Statements in the Management Discussion and Analysis describing the Companys objective, projections, estimates, expectations may be forward-looking statements. Actual results may differ materially from those expressed or implied due to various risks and uncertainties. Important factors that could make a difference to the Companys operations include global and Indian demand-supply conditions, finished goods prices, changes in government regulations and policies, tax regimes, economic conditions within India and the countries within which the Company conducts business and other such factors. The Company does not undertake to update these statements.

We, Ravi Surana Pukhraj, Chief Executive Officer and Surana Dipin, Chief Financial Officer of P. M. Telelinnks Limited certify that:

A. We have reviewed financial statements and the cash flow statement for the year ended March 31, 2025 and that to the best of our knowledge and belief:

i) these statements do not contain any materially untrue statement or omit any material fact or contain statements that might be misleading;

ii) these statements together present a true and fair view of the companys affairs and are in compliance with existing accounting standards, applicable laws and regulations.

B. There are, to the best of our knowledge and belief, no transactions entered into by the company during the year which are fraudulent, illegal or violative of the companys code of conduct.

C. We accept responsibility for establishing and maintaining internal controls for financial reporting and that we have evaluated the effectiveness of internal control systems of the company pertaining to financial reporting and we have disclosed to the auditors and the Audit Committee, deficiencies in the design or operation of such internal controls, if any, of which we are aware and the steps we have taken or propose to take to rectify these deficiencies.

D. We have indicated to the auditors and the Audit committee

i. Significant changes in internal control over financial reporting during the year;

ii. Significant changes in accounting policies during the year and that the same have been disclosed in the notes to the financial statements; and

iii. Instances of significant fraud of which we have become aware and the involvement therein, if any, of the management or an employee having a significant role in the companys internal control system over financial reporting.