End-to-end technology-led power transmissions and industrial drive solutions provider across business
verticals.
Highly diversified offerings across business verticals and customer industries.
Established parentage and trusted brand backed by global and local R&D capabilities.
Deep relationships with marquee customers built through decades of collaboration, a strong sales team and
dealer network and after-sales service support.
State-of-the-art manufacturing infrastructure with embedded industry 4.0 principles supported by an efficient
and localized supply chain network.
Stable and experienced management team delivering strong financial performance.
We depend on a limited number of suppliers for procurement of raw materials and components
required for our manufacturing operations. Our largest supplier is Bonfiglioli Riduttori S.p.A, a
related party. Purchases from our related parties represented 15.53%, 16.75%, 15.18%, 17.00% and
19.98%, and purchases from our top 10 suppliers represented 40.84%, 41.74%, 41.20%, 45.62% and
47.52% of our total purchases of raw materials and components in the six months periods ended June
30, 2026 and 2025 and in Fiscals 2025, 2024 and 2023, respectively. As we do not have definitive
agreements with our suppliers, any interruption in the availability of raw materials and components
on account of any disruption, breakdown or shutdown of our suppliers' operations could adversely
impact our operations.
Any increase in the prices of raw materials and components required for our operations or levy of
duties on the materials we import for our operations, could adversely affect our business, financial
condition, results of operations, and cash flows.
Any unscheduled, unplanned or prolonged disruption of operations at our manufacturing facilities
could materially and adversely affect our business, financial condition, results of operations and cash
flows.
Any actual or perceived defects in our gearboxes and drive systems or the sales and after-sale services
provided through dealers or third parties may adversely impact our brand, reputation, and ability to
sell our products, which could have an adverse impact on our operations.
We depend on BSPA, one of our Corporate Promoters, for certain aspects of our operations, including
the license to manufacture and sell products under its intellectual property including the "Bonfiglioli"
trade name and trademark for which we pay a consideration of 6% of our annual sales of the specified
products (excluding sales to BSPA and net of discounts and allowances). Any adverse change in our relationship with BSPA could have an adverse impact on our business, financial condition, results of
operations, cash flows and reputation.
We depend on BSPA, one of our Corporate Promoters, and other companies in the Bonfiglioli Group
for certain aspects of our operations including administrative and corporate services. Any adverse
change in our relationship with BSPA and the companies in the Bonfiglioli Group could have an
adverse impact on our business, financial condition, results of operations, cash flows and reputation.
We have entered into and will continue to enter into related party transactions with BSPA and
companies within the Bonfiglioli Group that may involve conflicts of interest, which could adversely
impact our business. The arithmetic aggregate absolute total of income from related parties
represented 19.91%, 14.29%, 15.59%, 17.66% and 17.70% of our total income in the six months
periods ended June 30, 2026 and 2025 and in Fiscals 2025, 2024 and 2023, respectively, while the
arithmetic aggregate absolute total of expenses from related parties represented 32.71%, 32.38%, 24.83%, 25.20% and 28.66% of our total expenses in the six months periods ended June 30, 2026 and
2025 and in Fiscals 2025, 2024 and 2023, respectively.
We depend on a limited number of customers for our sales, and revenue from our top 10 OEM
customers represented 31.72%, 37.83%, 36.60%, 34.38% and 32.82% of our total revenue from
operations (continuing operations) in the six months periods ended June 30, 2026 and 2025 and in
Fiscals 2025, 2024 and 2023, respectively. As we do not have long-term binding agreements with all our customers, any reduction in orders from, or loss of, any of our major customers could adversely
affect our business, financial condition, results of operations and cash flows.
Failure to successfully commercialise co-engineered products could adversely affect our business,
financial condition, results of operations, and cash flows.
Certain corporate records and forms filed by us with the RoC, are not traceable. While we have
conducted a search with the RoC, in respect of the unavailability of such forms and other records, we
cannot assure you that such forms or records will be available at all or any time in the future.
