Established relationship with JSWSCPL Steel for supply of Steel Coils.
Long-standing relationships with customers, including OEMs and ODMs.
Strategically Located Manufacturing Network Enabling Just-in-Time Supply and Cost-Efficient Operations.
Integrated and Advanced Steel Processing Infrastructure.
High Entry Barriers Driven by Authorised Supplier Arrangements, Capital Intensity and Customer Approvals.
Experienced Promoters and professional management team.
The company deriveds 68.31% and 67.44%, 67.43% and 68.21% of its revenue from its top ten customers for six months
period ended September 30, 2025, and for the Fiscals 2025, 2024 and 2023, respectively. The loss of any of these
customers or reduction in business from such will have a material adverse effect on the company's business, financial
condition, results of operations and cash flows.
The cost of raw materials and components consumed accounted for 85.32%, 92.97%, 89.14% and 92.38% of its
total expenses for the six months period ended September 30, 2025 and for Fiscals 2025, 2024 and 2023, respectively.
Any volatility in prices, unavailability, or disruption in the timely and adequate supply of steel coils may materially
and adversely affect the company's business, results of operations, financial condition and cash flows.
The company's business is significantly dependent on the performance of certain end-use sectors, particularly the Home &
Commercial Appliances sector, which contributed 82.70%, 81.80%, 77.41% and 73.54% of its revenue from sale
of products for the six months period ended September 30, 2025, and for Fiscals 2025, 2024 and 2023, respectively.
Any adverse developments, slowdown, reduced demand, or cyclicality affecting this sector could have a material
adverse effect on the company's business, results of operations, financial condition and cash flows.
The company derives the company's revenue from operations from customers located across fourteen (14) states and two (2) union
territories in India, on average more than 70% of its revenue from operations for the six months period ended
September 30, 2025 and last three Fiscals was derived from Maharashtra, Gujarat and Haryana. Any disruption in
our operations in these states, whether due to internal or external factors, could restrict the company's operations and have an
adverse effect on its business, results of operations and financial condition.
the company is substantially dependent on a single supplier, JSW Steel Coated Products Limited and/or its holding
Company ("JSWSCPL"), for the supply of steel coils, which constitute a key raw material for its operations. For
the six months ended period September 30, 2025, and for the Fiscal 2025, Fiscal 2024 and Fiscal 2023, the company sourced
approximately 83.99% and 90.61%, 84.58% and 81.77%, respectively, of its total steel coil requirements from
JSWSCPL. This high level of supplier concentration exposes the company to significant risks, and any disruption in the supply
of steel coils from JSWSCPL could materially and adversely affect the company's business, results of operations and financial
condition.
Under-utilisation of its manufacturing capacities over extended periods, or significant under-utilisation in the
short term, could increase the company's cost of production and operating costs, which could adversely affect its operating
leverage, margins and financial performance.
The company's manufacturing facilities are geographically dispersed across specific regions in India, and any disruption to
the operations of these facilities or adverse developments affecting such regions could materially and adversely
affect its business, financial condition and results of operations.
The company has experienced certain discrepancies in the company's statutory filings with the Registrar of Companies ("RoC") and
other non-compliances under the Companies Act, 2013 in the past. The company cannot assure that regulatory authorities
will not initiate inquiries, proceedings or other actions against the company in the future. Any such proceedings or actions, if
initiated, may result in the imposition of penalties, fines or other regulatory measures, which could adversely affect
its business, financial condition, results of operations and reputation.
The company does not have long-term purchase commitments from the company's customers, and any reduction or cancellation of orders
could adversely affect its business, results of operations, financial condition and cash flows.
The company's business requires significant working capital, and any inability to arrange or maintain adequate working
capital may adversely affect its business, results of operations, financial condition and cash flows.
