Citizen Infoline Ltd Management Discussions

INDUSTRY STRUCTURE AND DEVELOPMENTS

The print and publishing industry has been profoundly altered by the digital media revolution. Newsprint is moving from print to the web even while the publishing industry at large is becoming digitized. The emergence of digital and online media has brought about a significant change in the core business model of the publishing industry. The change in technology and consumer behavior has given to new opportunities and challenges for traditional publishers.

The repaid expansion of digital media has driven publishers to reduce costs and streamline their operations. Also, the pressure on publisher has increased as a growing number of consumers prefer access to online content. Publishers are now finding innovative ways to deliver content to users. Some of the emerging trends in the publishing industry include electronic books (eBooks), podcasts, blogs, mobile publishing, and self-publishing. Some publishers have also started focusing on new opportunities such as user-generated content and online communities.

FUTURE BUSINESS PROSPECTS:

The Company is facing a tough competition from markets. There is a drastic change in the print and digital advertisement platforms. The Consumer behavior is also changing, which can pose a significant challenge to the nature of the business of the company.

OPPORTUNITIES & THREATS

Yellow pages media is aiming to get as many people as possible searching its online sites, such as www.infoline.com, as it continues to move beyond print directories and become a digital company. But low prices for internet advertising may reduce revenues and condition advertiser expectations in the long term, reducing the overall value of the market.

Any inability to accommodate increased user traffic, due to various factors, including systems or technology failure or obsolescence, on our website may cause unanticipated system disruptions, slower response time and degradation in quality of our service, which could have a material adverse effect on our business, reputation, financial condition and result of operations.

PERFORMANCE

The Financial performance of the Company is discussed in Directors Report. The Audit Committee also reviews financial performance from time to time.

CHALLENGES AND FUTURE OUTPUT

Our business strategy emphasizes the following:

1. Increase our market shares in Indias expanding yellow pages & online advertising by following a disciplined growth strategy focusing on quality and not on quantity and delivering high-quality customer service.

2. Leverage our technology platform and open scalable systems to deliver more products to more customers and to control operating costs.

3. Develop innovative products and service that attract our targeted customers and address inefficiencies in the advertising sector.

4. Focus on high earnings growth with low volatility.

INTERNAL CONTROL SYSTEMS

The Company has built adequate systems of internal controls towards achieving efficiency and effectiveness in operations, optimum utilization of resources, and effective monitoring thereof as well as compliance with all applicable laws. The internal control mechanism comprises of well-defined organization structure, documented policy guidelines, predetermined authority levels and processes commensurate with the level of responsibility.

HUMAN RESOURCES MANAGEMENT

The Companys belief in trust, transparency and teamwork improved employee efficiency at all levels. The Companys commitment to harmonious industrial relations resulted in enhancing the effectiveness of operations and enabled the achievement of benchmarks in the industry. The companys ongoing objective is to create an inspirational work climate where talented employees engaged in creating sustained value for the stakeholders. Training and orientation programs are being arranged periodically, to update the employees in the work techniques. The overall human resources are positive, and we would be able to achieve the desired objectives effectively. The Company has developed an environment of harmonious and cordial relations with its employees.

CAUTION STATEMENT

The statement in this Management Discussion and Analysis Report describing the Companys objectives, estimates etc. may be "Forward-Looking Statement" within the applicable laws & regulations. Actual results may vary from those expressed or implied; several factors that may affect Companys operations include Dependency on telecommunication and Information technology system, Government policies and several other factors. The company takes no responsibility for any consequences of the decision made, based on such statement and holds no obligation to update these in future.

DETAILS OF SIGNIFICANT CHANGES IN KEY FINANCIAL RATIO

Please see the note 43 of Financial Statements for the analysis of the following ratios.

- Debtors Turnover

- Interest Coverage Ratio

- Current Ratio

- Inventory Turnover Ratio

- Debt Equity Ratio

- Operating Profit Margin

- Net Profit Margin

For and on behalf of the Board of Directors

Place: Ahmedabad	(Omprakash L Jain)	(Ravindra Jain)
Date: 04 September, 2023	Managing Director	Director
	DIN: 00171365	DIN: 00412684