Source: SEBI
From the prospectus, ordered by severity. Wording is close to the filing — not softened.
Customer Concentration Risk
Revenue from top ten customers accounted for 99.99%, 99.43%, 100.00%, and 99.28% of Revenue from Operations for the nine months period ended December 31, 2025, and Fiscals 2025, 2024, and 2023.
high · high
Operational Reliance on India Post
We remain operationally reliant on India Post for fulfilment of delivery-related obligations.
medium · medium
Regulatory Compliance Risk
We cannot assure you that we will be able to obtain or renew such approvals in a timely manner, or at all, in the future.
medium · medium
Funding and Working Capital Risk
We cannot assure you that we will continue to generate sufficient internal accruals and/or be able to raise adequate working capital from lenders to address our future needs.
medium · medium
What the business leans on, as the filing describes it.