Source: SEBI
From the prospectus, ordered by severity. Wording is close to the filing — not softened.
Dependency on Key Clients
The company is dependent on a few clients for significant revenue, with the top client accounting for 84.04% of total revenue in FY2025.
Business · high
Leased Manufacturing Facilities
The company does not own its manufacturing facility and relies on rental agreements, which if not renewed, could adversely affect operations.
Operational · high
Fluctuations in Raw Material Prices
The company is vulnerable to fluctuations in raw material prices, which could impact profitability.
Market · medium
Limited Operating History
The company has a limited operating history since commercial operations started in 2023, which may hinder its ability to manage growth.
Business · medium
Delays in Statutory Filings
There have been instances of delays in statutory filings, which could lead to penalties.
Compliance · medium
What the business leans on, as the filing describes it.