Global leadership in manufacturing precision engineering components using MIM technology.
Long-standing relationships with Indian and global OEM customers.
Diversified product portfolio catering to applications across multiple industries.
Backward integrated, dual-shore manufacturing capabilities with focus on efficiency.
Export driven player with extensive global distribution capability.
Experienced promoters and management team supported by large employee base.
Track record of robust financial performance.
We derive a significant portion of our revenue from our top 10 customers, who contributed 38.41%, 38.94% and
42.00% of our revenue from operations in Fiscals 2026, 2025 and 2024, respectively. The loss of such customers or
a significant reduction in demand of our products from these customers could have an adverse effect on our
business, results of operations, financial condition and cash flows.
Our business is dependent on exports and the performance of geographies where we supply our products. We export
our products to various countries and our revenue from outside India represented 77.20%, 89.92% and 88.26% of
the total revenue from operations in Fiscals 2026, 2025 and 2024, respectively. Any adverse changes in the
conditions affecting the industries in global markets in which our products are supplied, can adversely impact our
business, cash flows, results of operations and financial condition.
We do not have definitive agreements having commitment on part of our customers to purchase or place orders
with us. We generally do business with our customers on a purchase order basis and our customers do not make
long-term commitments/ agreements with us. If our customers choose not to source their requirements from us,
there may be an adverse effect on our business, results of operations, financial condition and cash flows.
Loss of any of our suppliers or a failure by our suppliers to deliver our primary raw materials such as metal powders
and polymers may have an adverse impact on our ability to continue our manufacturing process without
interruption.
We import a significant portion of our raw materials constituting 60.95%, 61.80% and 59.63% of our total
purchases of raw materials in Fiscals 2026, 2025 and 2024, respectively. Any restrictions on imports or fluctuation
in global commodity prices that affect our raw materials could adversely affect our business, results of operations,
cash flows and financial condition.
Our operations are significantly dependent on our manufacturing facilities, and the shutdown or slowdown of
operations at any of our manufacturing facilities could have an adverse effect on our business, results of operations,
financial condition and cash flows.
Our manufacturing facilities in India are concentrated in south India and any adverse developments affecting this
region could have an adverse effect on our business, results of operations, financial condition and cash flows.
A portion of the Net Proceeds will be utilized for repayment or pre-payment of a loan availed by our Company from
HDFC Bank Limited, which is one of our Book Running Lead Managers and Axis Bank Limited and Kotak
Mahindra Bank Limited which are affiliates of certain of the Book Running Lead Managers.
Our Promoters, Directors and KMPs have received certain show cause notices for alleged non-compliance with
mandatory appointment of a cost auditor and for a mandatory cost audit which could potentially impact the
reputation of the Company and we may be subject to regulatory actions in the future.
The name of one of our Promoters and our Chairman and Managing Director, Krishna Chivukula has appeared
in the list of disqualified directors in the past.
