No my player doesn't have a composite output, that's why I'm asking the question. What did you mean "conversion not allowed under the rules"?
I was not aware that there are DVD players around with only an HDMI output.
HDMI connectivity is governed by the HTCP codes. These are set by an industry group and have the force of law. The object is to prevent piracy. This is called digital rights management (DRM). Now these codes evolve. I'm aware that it is now illegal to output an HD analog output, but I'm not aware this has progressed to low definition analog outputs, but it may have.
Now HDMI is two way communication. When you connect via HDMI, the player sends codes to the TV and the TV sends codes back to the player. This is the HDMI handshake. For a TV one initial handshake is required. For a device that receives and transmits HDMI, the handshakes have to occur repeatedly.
So in any event an older TV has no HDCP codes and can not make a handshake with an HDMI device. It also can not receive a digital signal which HDMI is.
Your only option is for you to get a TV with HDMI or a player with a composite out. I recommend a new TV. I say this as a TV with no HDMI inputs is now useless and worthless. Even the thrifts will not take them. It is time to take that TV to the recycling center.
If someone did produce the device you want, they would face heavy fines and or jail.