Leading recycler in the domestic aluminium recycling industry in India with significant entry barriers,
also positioned as a critical enabler of the aluminium industry's decarbonization imperative.
Key supplier of liquid aluminium alloy.
Strong and diversified supplier base for sourcing raw materials.
Long-standing relationships with our customers.
Strategic alliances through joint ventures.
Our facilities, technology, quality processes and engineering expertise.
Experienced and qualified management team with people focused culture.
Environment friendly business supported by green technologies and processes with focus on ESG.
The company depends on a limited number of customers for significant portions of its revenues. For December 31,
2025, 20.93% of the company consolidated revenue from operations was derived from its top 3 customers, and
32.53% was contributed by the company top 5 customers. The loss of one or more of its top customers or
significant reduction in production and sales of, or demand for its production from the company significant
customers may adversely affect its business, financial condition, result of operations and cash flows.
The company derives a substantial portion of its revenue from the sale of key products such as liquid aluminium
alloys and aluminium alloy ingots which contribute 81.85%, 78.42%, 76.95% and 73.13% of the company revenue
from operations excluding export incentives, government subsidy/ other incentive for the nine months
period ended December 31, 2025, Fiscal 2025, Fiscal 2024 and Fiscal 2023 respectively and any loss of
sales dues to reduction in demand for these products could adversely affect its business, financial
condition, results of operations and cash flows. In addition, the company may not be able to diversify into new
product lines which may adversely affect its business, revenue from operations, cash flows and financial
condition.
The company has experienced losses amounting to Rs.8,382.25 million in the Fiscal 2024 and its may continue to
incur losses in the future which could has an adverse effect on its business, results of operations and
cash flows.
The company has experienced negative cash flows from operating activities in previous Fiscals/ period where its
operating cash flows reduced by 224.16% in Fiscal 2024 to Fiscal 2025 and the company cannot assure you that its
will not experience negative cash flows in future periods. Negative cash flows may adversely affect the company
financial condition, results of operations and prospects.
The company has an outstanding proceeding initiated by Enforcement Directorate, Mumbai.
Conflicts of interest may arise out of common business objects shared by the Company and some of its
Group Companies. Additionally, the company Promoters may has in the past been associated with other companies
which may has similar names and may be in the same line of business as that of the Company.
The company Statutory Auditors has included certain matters of emphasis in connection with the Companies
(Auditor's Report) Order, 2020 in the examination report issued in respect of the Restated Consolidated
Financial Statements.
CCIIPL, CMRC and KAPL which has been identified as a group company of the Company and CCIIPL
and CMRC which has been identified as a joint venture of the Company in terms of the SEBI ICDR
Regulations, has not provided information or any confirmations or undertakings pertaining to itself that
are required to be disclosed in relation to a company identified as a group company and/or joint venture
in this Red Herring Prospectus.
As on December 31, 2025, the company had total borrowings comprising non-current borrowings and current
borrowings aggregating to Rs.13,032.17 million, on a consolidated basis. Its indebtedness and the
conditions and restrictions imposed on the company by its financing agreements could adversely affect the company ability
to conduct its business.
There is outstanding litigation against the Company, its Subsidiaries, the company Directors, its Promoters, the company
KMPs and SMPs, which if determined adversely, could affect its business, cash flows and results of
operations.
