Repro India Limited , a prominent player in the printing and publishing industry, has successfully resolved a protracted industrial dispute at its Mahape Plant, marking the end of an 8-year-long worker strike that began in 2017.

Settlement Details

The company has entered into a settlement agreement with the Dharmarajya Kamgar Karmachari Mahasangh, the union representing the workers at the Mahape Plant. Key aspects of the settlement include:

• Full and final settlement payments made to the affected workers
• Resolution of the long-standing industrial dispute
• Withdrawal of all related legal proceedings and cases filed by or on behalf of the union and workers
• Agreement between parties to restore normal operations at the facility

Impact and Implications

This resolution is a significant development for Repro India, potentially leading to:

1. Improved operational efficiency at the Mahape Plant
2. Enhanced labor relations and workplace harmony
3. Reduction in legal and administrative costs associated with the dispute
4. Positive impact on the company's reputation and stakeholder relations

Official Disclosure

In compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, Repro India Limited has officially informed the BSE Limited and the National Stock Exchange of India Limited about this development. The company views this settlement as a crucial step towards normalizing operations and moving forward from the long-standing issue.

Conclusion

The resolution of this 8-year industrial dispute marks a significant milestone for Repro India Limited. It demonstrates the company's commitment to addressing labor issues and maintaining a productive work environment. As the company moves to restore normalcy at its Mahape Plant, stakeholders will likely be watching closely to see how this resolution impacts Repro India's operations and financial performance in the coming quarters.

Repro India Limited , a leading player in the printing and publishing industry, has reported mixed results for Q1, with strong growth in its digital business offset by declines in its long-run vertical.

Financial Performance

Repro India's consolidated Q1 revenue reached Rs 118.00 crore, marking a 4% year-on-year growth. However, the company posted a consolidated loss of Rs 273.00 lakhs for the quarter. On a standalone basis, Repro India reported a loss of Rs 355.00 lakhs.

Digital Business Growth

The company's digital business vertical generated revenue of Rs 94.50 crore in Q1, representing a significant 22% year-on-year growth. This segment now accounts for 80% of the company's revenue share, having grown 2.5 times over the past three years.

Within the digital operations, the platform business segment grew by 38%, despite an 8% impact from changes in Flipkart's revenue recognition methods.

Long-Run Vertical Decline

The long-run vertical experienced a sharp decline, with revenue falling 34% to Rs 23.00 crore. This decrease is attributed to structural changes in NCERT's distribution model, where the decision to directly print and distribute K-12 books has bypassed academic publishers. As a result, the long-run vertical's revenue has fallen over 65% from steady state levels across five quarters.

Operational Metrics

Repro India now processes 43,029 digital books daily, representing a 13% year-on-year growth. The company has onboarded 725 publishers, which represents 55% of the Rs 70,000.00 crore total addressable market.

Future Outlook

Management is actively exploring options for the struggling long-run vertical while focusing on expanding digital operations. The company is leveraging its partnerships with multiple domestic and international platforms, including Amazon, Flipkart, and Walmart, to drive growth in its digital business.

Subsidiary Closure

In a separate development, Repro India's Board of Directors has approved the closure of Repro DMCC, a non-operational wholly-owned subsidiary incorporated in the Dubai Multi Commodities Centre (DMCC). This closure is not expected to impact the company's revenue or overall business operations.

Management Commentary

Mukesh Dhruve, Whole Time Director of Repro India, commented on the results, stating, "While we face challenges in our traditional long-run print services due to structural changes in the market, our digital business continues to show robust growth. We are focusing on expanding our digital offerings and leveraging our strong partnerships with major e-commerce platforms to drive future growth."

As the Indian book market continues to evolve, Repro India is positioning itself to capitalize on the growing demand for digital content distribution and print-on-demand services. The company's focus on technology-enabled demand generation and diversified product offerings is expected to drive its performance in the coming quarters.