NSE · Source: SEBI
From the prospectus, ordered by severity. Wording is close to the filing — not softened.
Geographic Concentration
As of March 31, 2025, over 73.29% of revenue was recognized from projects in Gujarat and Maharashtra.
Operational · high
Dependency on Government/PSU Clients
More than 57.47% of revenue recognized from Government/PSU clients as of March 31, 2025.
Operational · high
Negative Cash Flows
The company has experienced negative cash flow in the past and any negative cash flows in the future would adversely affect our cash flow requirements.
Financial · high
Reliance on Technology Partners
The failure of our Technology Partners to deliver these products in the necessary quantities could adversely affect our ability to deliver orders on time to our clients.
Operational · medium
What the business leans on, as the filing describes it.