Alpex Solar Ltd IPO

The company involves in the case of Deputy Commissioner of Income Tax v. Alpex Export Private Limited & Ors Criminal Revision Petition 132/2023 before the Hon'ble Delhi High Court.

The company may not be successful in bidding for and winning bids for solar water pumps EPC projects to grow its business.

Its Restated Financial Statements are Prepared and Signed by the Peer Review Chartered Accountants who is not Statutory Auditors of the Company.

Its business operations may face less sales in unfavourable solar weather conditions could have a material adverse effect on its business, financial condition and results of operations.

The company has not taken any steps to order the machinery/equipment required for the proposed aluminium Plant. In the event of any delay in placing the orders, or in the event the vendors are not able to provide the equipment/ machineries in a timely manner, or at all, the same may result in time and cost over-runs.

Its may continue to derives a material portion of the company revenue from its top five customers and its financial dependence on its top Five customers particularly "Luminous Power Technologies Private Limited" poses a potential risk. A reduction in business from "Luminous" or any other major clients could have negative implications for both its revenue and profitability.

Majority of its state wise revenues from operations for the last 3 years is dependent majorly on Uttar Pradesh. Any adverse developments affecting its operations in these states could have an adverse impact on its revenue and results of operations.

The company involves in the consumer court cases where customer not satisfied with the warranty.

Its face competition in its business from domestic competitors. Such competition would have an adverse impact on its business and financial performance.

Non-availability of secretarial records of the company filed with ROC since incorporation and non-updating of recent records at MCA.