GLEN Industries Ltd IPO

The Company is dependent on external suppliers for most of its machinery / component requirements and raw materials.

Its business of the Company is impacted by fluctuations in raw material prices, domestic and global.

The company relies on third-party transportation providers for all of its input materials and product distribution. Failures by any of its transportation providers to deliver the company input materials and products on time or at all, could result in loss in sales.

If there are delays or cost overruns in utilisation of Net Proceeds, its business, financial condition and results of operations will be materially and adversely affected.

The company business is dependent and will continue to depends on its manufacturing facilities, and the company is subject to certain risks in its manufacturing process. Any slowdown or shutdown in the company manufacturing operations or strikes, work stoppages or increased wage demands by its employees that could interfere with the company operations could have an adverse effect on its business, financial condition and results of operations.

The company derives a significant portion of its revenues from exports and are subject to risk of international trade.

The company is subject to strict quality requirements, regular inspections and audits, and the success and wide acceptability of its products is largely dependent upon the company quality controls and standards. Any failures to comply with quality standards may adversely affect its business prospects and financial performance, including cancellation of existing and future orders.

The company individual Promoters plays key role in its functioning and the company heavily relies on their knowledge and experience in operating its business and therefore, it is critical for the company business that its Promoter and Executive Directors remain associated with it. The company success also depends upon the services of its key managerial personnel and the company ability to attract and retain key managerial personnel and its inability to attract them may affect the company operations.

The company is subject to increasingly stringent environmental, health and safety laws, regulations and standards. Non-compliance with and adverse changes in health, safety, labour, and environmental laws and other similar regulations to its manufacturing operations may adversely affect the company business, results of operations and financial condition.

The restated financial statements have been provided by peer reviewed chartered accountants who is not statutory auditor of the Company.