The Company, its Promoters and Directors are involved in outstanding litigation proceedings; an adverse outcome could impact reputation, business, financial condition and cash flows.

Some manufacturing facilities and warehouses of the Company are on leased premises; inability to renew leases or relocate on suitable terms may adversely affect operations.

The Company's revenue is dependent on a limited number of customers, with top 10 customers contributing 29.97% of FY26 revenue from operations; losing them could hurt results of operations.

The Company has experienced negative cash flows in past years, including a negative investing cash flow of ₹922.78 lakhs in FY26; recurrence could adversely affect its financial condition.

The Company has had instances of delayed payment of statutory dues such as Income Tax, GST and Provident Fund; delays or non-payment could attract penalties affecting its financial condition.

The Company's total indebtedness stood at ₹4,456.16 lakhs as of March 31, 2026; incurring further debt or inability to service it could adversely affect its financial condition and operations.

The Company has delayed certain statutory filings with the Registrar of Companies in the past, including a 284-day delay in a Form 23 filing, which may attract regulatory penalties.

The Company acquired Tirupati Plastic, Noble Polymers, Shreeji Plastic and Balaji Polymers via Deeds of Assignment without a formal Business Transfer Agreement, exposing it to dispute risk.

Trade payables form a major part of the Company's current liabilities (₹3,527.56 lakhs as of FY26, average payable days of 83); failure to manage them could hurt purchases and liquidity.

The Company's manufacturing capacity utilization was around 57.66% in FY26; under-utilization or inability to effectively use expanded capacities could adversely affect future business performance.