The company's business depends on its single manufacturing facility at Dindori, Nashik; any slowdown, shutdown, equipment breakdown, strike or work stoppage could adversely affect operations and results.

The company derives a significant part of revenue from major customers (top 10 contributed ~52.99% in FY2026, single customer ~15.73%) without long-term agreements, exposing it to loss-of-customer risk.

The company is heavily reliant on a few suppliers, with its single largest supplier contributing over 50% of purchases in the last three years, and has no long-term supply agreements at fixed prices.

The company derives a portion of revenue from exports (~23.32% of revenue in FY2026 to countries including Iraq) and is subject to international trade, geopolitical and tariff risks.

Exchange rate fluctuations may adversely affect results, as the company's export sales and import purchases are denominated in foreign currencies and it does not engage in currency hedging.

The company is subject to strict quality requirements; any failure to comply with quality standards may adversely affect business prospects and lead to cancellation of existing and future orders.

The restated financial statements were provided by peer-reviewed chartered accountants who are not the statutory auditor of the company, which may affect reliance on such financial information.

Inventories and trade receivables form a major part of the company's current assets; failure to manage them could adversely affect sales, profitability, cash flow and liquidity.

Geographical concentration of the company's manufacturing facility and business in a single location may adversely affect its operations, business and financial condition.

The company is subject to increasingly stringent environmental, health and safety laws and standards; non-compliance or adverse changes may adversely affect its business and results of operations.