HRS Aluglaze Ltd IPO

The company order book may not be representative of its future results. Projects included in the company order book and its futures projects may be delayed, modified or cancelled for reasons beyond its control which may materially and adversely affect the company business, prospects, reputation, profitability, financial condition and results of operation.

Its business is dependent on certain key customers and the loss of any of these customers or loss of revenue from sales to any key customers could has a material adverse effect on the company business, financial condition, results of operations and cash flows.

The company does not have firm commitment agreements its customers. If the company customers choose not to source their requirements from it, there may be a material adverse effect on its business, financial condition, cash flows and results of operations.

The company business and profitability are substantially dependent on the availability and the cost of its raw materials and components consumed for which the company relies on third parties. Any disruption in timely and adequate supply of the raw materials, or volatility in the prices of raw materials or failures to maintain cordial relations with the company suppliers may adversely impact its business, results of operations, financial condition and cash flows.

The company projects is generally awarded to its upon meeting prescribed pre-qualification requirements and through a competitive bidding process. Any failures to secure new project awards may adversely affect the company business operations and financial condition.

The company manufacturing unit and its operations are geographically concentrated in Gujarat. Consequently, its are exposed to risks from economic, regulatory and other developments which could have an adverse effect on the company business, results of operations and financial condition. Further, its continued operations are critical to the company business and any shutdown of its manufacturing unit may adversely affect the company business, results of operations and financial condition.

Due to the seasonal nature of the industry we operate in, its may not be able to achieve complete utilisation of the manufacturing unit, which in turn could materially and adversely affect the company business, financial condition and results of operation.

The company is dependent on its manufacturing unit, and any loss, or shutdown, or under-utilization of the production capacities of the company manufacturing unit may has an adverse effect on its business, financial condition and results of operations.

The Company has, in the past, experienced delays and non-compliances in filing e-forms with the Registrar of Companies ("RoC"), including annual returns, financial statements, and charge-related forms. While no regulatory actions or penalties have been imposed to date except below mentioned, there is no assurance that such actions will not be levied in the future. The Company cannot guarantee that similar delays will not occur in the future, and if regulatory authorities impose penalties or take punitive actions against the Company or its directors/officers, it could negatively affect the Company's business and financial condition.

The company proposed capacity expansion plans relating to the new manufacturing facility at Rajoda, Ahmedabad are subject to risks of unanticipated delays, cost overruns, regulatory hurdles, and its may not be able to derives the intended benefits from the project.