Orient Press Limited

OPL is managed by its founding promoters Ramvilas Maheshwari (Chairman and Managing Director) and Rajaram Maheshwari (Executive director) each having around four decades in the industry. Sirectors are assisted by a team of experienced professionals. With extensive experience, the company have been able to get steady orders from its clients in the printing segment, which has been profitable over the years. Established track record of operations with long standing relationship with its clients

OPL has proven track record of operations with about four decades of existence in the industry. Overall operations remained diversified across four segments flexible packaging (50%), printing (37%), paper boards (13%), and candles (1%) providing 2 CARE Ratings Ltd. Press Release stability in the business. The company has established long-term relationship with its customers comprising reputed names including Dabur India Limited, Siyaram Silk Mills Limited, Jyothy Labs Limited (CARE AA; Stable) a

Liquidity is stretched, marked by low liquidity ratios and moderate cash accruals against high debt repayments, resulting in reliance on promoters’ funds for debt repayment. While the current ratio was at 1.1x (PY: 1.4x), its quick ratio remained lowat 0.39x (PY:0.44x) as on March 31, 2025. Average maximum utilisation for its fund-based working capital limits stood high at ~97% for 12 months ended December 2025. Average maximum utilisation of non-fund-based facilities stood at 75% for 12

Definition of Default Liquidity Analysis of Non-financial sector entities Rating Outlook and Rating Watch Financial Ratios – Non financial Sector Service Sector Companies Paper & Paper Products Short Term Instruments

Total operating income 170.70 142.70 95.84 PBILDT* 6.67 3.50 2.04 Profit after tax (PAT) -1.06 -2.78 -1.47 Overall gearing (x) 1.17 0.99 NA Interest coverage (x) 1.00 0.49 0.45 A: Audited UA: Unaudited; Note: these are latest available financial results *PBILDT: Profit before interest, lease rentals, depreciation and tax

PBILDT* 6.67 3.50 2.04 Profit after tax (PAT) -1.06 -2.78 -1.47 Overall gearing (x) 1.17 0.99 NA Interest coverage (x) 1.00 0.49 0.45 A: Audited UA: Unaudited; Note: these are latest available financial results *PBILDT: Profit before interest, lease rentals, depreciation and tax Status of non-cooperation with previous CRA: Not applicable

OPL’s overall scale of operations remained moderate marked by total operating income (TOI) registered y -o-y decline by 16.7% from ₹170.70 crore in FY24 to ₹142.70 crore in FY25 primarily due to a reduction in initial public offering (IPO) and red herring prospectus (RHP) printing orders driven by capital market sentiments. TOI in 9MFY25 further declined to ₹95.84 crore against ₹107.64 crore in 9MFY25 as the management is prioritising profitable, job‑work contracts and selective orders for flexi

OPL's operating profitability exhibited a stable trend with a PBILDTmargin within the range of 2-4% for three years ended FY25. PBILDT stood thin at 2.46% in FY25, with a y-o-y moderation of 145 bps considering increase in raw material prices and higher energy costs, which could not be entirely passed on owing to a competitive landscape. However, high depreciation and interest costs resulted in net loss in the last five years. The company reported net loss of ₹2.76 crore in FY25 compared to net

OPL’s operating cycle has stretched to 186 days in FY25 (170 days in FY24). The stretched operating cycle is mainly attributed to significant inventory of raw materials (Polymer Granules, inks, and several grades of paper among others) required for production. Polymer Granules are crude oil derivatives , and thus, their prices are inherently volatile. OPL maintains a high level of raw material inventory to mitigate the impact of price volatility and to address limited interchangeability of input

The financial profile of the company also continues to be leveraged owing to high reliance on working capital facility and de creasing net worth. The overall gearing ratio marginally improved and stood moderate at 1.13x as on March 31, 2025 (PY: 1.17x) owing to scheduled repayment of the term loan and lower utilisation of LC backed creditors. Debt coverage indicators stood weak, as marked by inadequate PBILDT interest coverage of 0.49x in FY25 (1x in FY24) and very high total debt to GCA (TD/GCA

Experienced promoters with long established relationship with its clients OPL is managed by its founding promoters Ramvilas Maheshwari (Chairman and Managing Director) and Rajaram Maheshwari (Executive director) each having around four decades in the industry. Sirectors are assisted by a team of experienced professionals. With extensive experience, the company have been able to get steady orders from its clients in the printing segment, which has

OPL has proven track record of operations with about four decades of existence in the industry. Overall operations remained diversified across four segments flexible packaging (50%), printing (37%), paper boards (13%), and candles (1%) providing 2 CARE Ratings Ltd. Press Release stability in the business. The company has established long-term relationship with its customers comprising reputed names including Dabur India Limited, Siyaram Silk Mills Limited, Jyothy Labs Limited (CARE AA; Stable) a