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Source: SEBI
From the prospectus, ordered by severity. Wording is close to the filing — not softened.
Customer Concentration Risk
Top 10 customers account for over 99% of revenue.
Operational · high
Dependency on Government Contracts
91.59% of order book from railways and metro sectors.
Operational · high
Legal Proceedings
Ongoing litigations could adversely affect financial condition.
Legal · medium
Input Cost Volatility
Dependence on imported metals and precision castings exposes to cost fluctuations.
Market · medium
Regulatory Compliance
Subject to various regulatory approvals and compliance requirements.
Regulatory · medium
What the business leans on, as the filing describes it.