Unick Fix-A-Form And Printers Ltd Management Discussions

A. Global Economic Overview :

The global economy plays a pivotal role in the growth and development of nations, acting as a web of interconnected economic activities across countries. These activities can lead to both positive and negative impacts, influencing national economies through trade, investment, and financial flows.

Global economic conditions are shaped by factors such as growth dynamics, commodity price fluctuations, and monetary policy shifts. These elements affect inflation rates, trade balances, and capital movements. Recently, global interconnectedness has been further complicated by geopolitical tensions, supply chain disruptions, and climate-related challenges.

Despite significant challenges, the global economy displayed resilience in FY 2024-25. According to the International Monetary Fund (IMF), global growth for 2025 was estimated at 3.3%, slightly below the 2000-2019 historical average of 3.7%. The Organisation for Economic Co-operation and Development (OECD) reported a median services price inflation rate of 3.6% across member countries. Additionally, the Shanghai Containerized Freight Index (SCFI) fell by around 40% from early January to late March 2025, indicating a potential decrease in global trade demand.

The medium-term global economic outlook is marked by downside risks, while the nearterm scenario shows varying risks across regions. The United States may experience growth acceleration, while other countries face policy uncertainties. Disruptions in the disinflation process could hinder monetary policy easing, impacting fiscal sustainability and financial stability. Effective management of these risks necessitates balanced policy approaches to inflation control and economic activity, alongside structural reforms to boost long-term growth.

The global economic forecast for 2025 and 2026 suggests modest growth with easing inflation. The IMF projects growth at 3.3% for both years, while the World Bank estimates a slightly lower rate of 2.7%. Headline inflation is expected to decrease to 4.2% in 2025 and further to 3.5% in 2026, aligning faster with targets in advanced economies compared to emerging markets. To address slow growth and fiscal challenges, policy measures should include enhancing workforce participation, addressing demographic shifts, and investing in infrastructure.

India has solidified its position as the worlds fastest-growing major economy over the past decade, demonstrating remarkable resilience despite global uncertainties in FY 2024-25. Real GDP growth stood at 6.5%, a decline from 9.2% in FY 2023-24. According to the Ministry of Statistics and Programme Implementation (MoSPI), the real GDP was estimated at 187.95 lakh crore, while nominal GDP rose by 9.9% to 331.03 lakh crore. The Gross Value Added (GVA) increased by 6.4% to 171.80 lakh crore.

The sectoral performance showcased mixed but largely positive results. Agriculture recorded a growth of 3.8%, supported by favorable monsoon conditions, while the construction sector expanded by 8.6%, driven by infrastructure projects. Financial, real estate, and professional services reported a robust 7.3% growth, reflecting sustained market activity. The trade, hotels, transport, and communication sectors grew by 6.4%, indicating a rebound in consumer demand.

Retail inflation dropped significantly to 3.16% in April 2025, marking the lowest level since July 2019. This decline was attributed to reduced food and fuel prices, coupled with the Reserve Bank of Indias (RBI) strategic monetary policies. In response to the inflation trends, the RBI reduced the repo rate to 6.00%, adopting an accommodative stance to support both growth and economic stability.

While Indias growth prospects remain strong, potential risks include global economic slowdowns, geopolitical tensions, and inflationary pressures due to unforeseen supply shocks. However, the RBIs accommodative monetary stance is likely to bolster consumption and investment, while government policies, such as increased capital expenditure and tax incentives, are expected to sustain growth momentum. Additionally, stabilized global commodity prices and a resilient services sector are anticipated to support continued economic activity.

Looking ahead, India is expected to maintain its position as the worlds fastest-growing major economy, with the IMF forecasting growth rates of 6.2% in 2025 and 6.3% in 2026, outpacing many of its global counterparts, while the Confederation of Indian Industry (CII) estimates a more optimistic 6.5%, supported by strong economic fundamentals and strategic policy measures. Further, the IMF projects global economic growth to be much lower, at 2.8 per cent in 2025 and 3.0 per cent in 2026, highlighting Indias exceptional out performance.

Conclusion: Navigating Global Headwinds

Indias economic outlook for 2025 and 2026 is among the brightest globally, as highlighted by the IMF. Despite uncertainties and revised downward growth forecasts for other large economies, India is positioned to retain its leadership in global economic growth. With ongoing reforms in infrastructure, innovation, and financial inclusion, the country is poised to navigate challenges effectively. The IMFs projections underscore Indias resilience, reinforcing its growing significance in the global economic landscape. As global challenges persist, India not only withstands economic turbulence but also actively contributes to shaping a dynamic and resilient global growth narrative.

India withstood global headwinds in 2023 and is likely to remain the worlds fastest- growing major economy on the back of growing demand, moderate inflation, stable interest rates and robust foreign exchange reserves. The Indian economy is anticipated to surpass US$ 4 Trillion in 2024-25.

The FY 2025-26 budget, aimed at “Sabka Vikas,” balances fiscal prudence with inclusive growth: fisc deficit trimmed to 4.4% while capex remains robust. Key themes include middle-class tax reform, infrastructure ramp-up, agrarian support, and enabling MSMEs/startups amid broad economic reforms.

• Print Labels: In 2024, the Indian print label market stood at approximately USD 1.6 billion (~?13,000 cr), with forecasts expecting it to reach ~USD 2.2 billion by 2033 at a CAGR of ~3.6%

• Contrastingly, another forecast estimates ~USD 2.46 billion in 2025, growing at 13.3% CAGR through 2030.

• Commercial Printing: Encompassing book, brochure, packaging, etc., this segment reached USD 35.5 billion in 2024, with a projected rise to USD 45.9 billion by 2033 (~2.9% CAGR)

• The printing & labeling sector in India is experiencing robust growth—driven by packaging, FMCG, e-commerce, and digital transformation.

• Sustainability, traceability, and premium design trends will continue to shape investments.

• A balanced strategy across electronics (digital/hybrid tech), eco-materials, and compliance will be key for long-term success.

The most important asset of our company isnt something we can put our hands on. It isnt equipment or the physical plant, and it isnt data, technology, or intellectual property. The most valuable part of our company is the people—the human capital—and any plans to move our business forward have to start there. Without the availability of employees and labour no industry can work. Hence for that purpose the company keeps in mind the welfare of all the Employees and Labours. Company maintains smooth relations with whole of the workforce and incentives are provided to them from time to time.

Availability of Labour, Raw Material and Capital. A strong customer base is must for all the segments and hence required in this industry also. Keeping updates of all the available and updated technological changes.

India has averted the effects of the global slump and continues to grow. More and more multinational companies are now targeting India as the hub for manufacturing and exporting. This provides good opportunities to component manufacturers and service providers for accelerated growth. Project expansion is in progress demanding many companies

Maintaining existing customer base, servicing them with the goal of retaining their business is imperative. Also, the importance of the retention of expert employees cannot be ignored. Building & communicating will always be the most valuable investment organization makes to delivering sustainable growth. The pressure of senior managers to deliver will intensify significantly in future with fierce competition.

The Company has in place a Systematized setup for the purpose of Internal Control. The company has an authorized person for the purpose of management of internal control of the Organization. There are neither any Loop in the internal control of company nor is there any Activity carried which results in any interruption in the smooth functioning of the operations.

There has not been any change in the Nature of business being carried by the Company. The Company is still working hard for being a leader in the Printing industry in all over the India. There has not been any change in the operations of the company except in case of up gradation of the Technology.

The need for environmentally clean and safe operations is companys key priority. The Company policy requires the conduct of all operations in such a manner so as to ensure the Safety of all concerned, compliance of statutory and industrial requirements for environment protection and conservation of natural resources to the extent possible.