Integris Medtech Limited IPO

The company incurred restated loss for the year of Rs. 48.84 million for Fiscal 2024 and Rs. 405.41 million for Fiscal 2023, respectively. While we generated restated profit for the period ended June 30, 2025 and for Fiscal 2025, the restated profit for the period ended June 30, 2025 was primarily due to a significant, non-recurring exceptional gain of Rs. 2,396.23 million arising from a deemed disposal of investments. Excluding this exceptional gain, the company's underlying profitability would have been substantially lower.

The company generated 66.12%, 64.91%, 60.40% and 58.88% of its revenue from operations for the period ended June 30, 2025, and Fiscals 2025, 2024 and 2023, respectively from jurisdictions outside India. The company's reliance on key overseas markets for a majority of consolidated revenue exposes the company to economic, regulatory, and operational risks that may adversely impact the company's performance, cash flows, and future growth.

The company's business model has relied significantly on acquisitions, and continued pursuit of mergers and acquisitions may expose the company to integration, execution, and value realisation risks potentially affecting our financial condition and future performance. Furthermore, integrating acquired businesses may not yield timely or effective results, which may affect its financial condition and results of operations.

The company is required to obtain, renew or maintain certain statutory and regulatory permits and approvals for operating its business. Any delay or failures in obtaining, renewing, or maintaining key regulatory approvals, certifications, or licenses in India or international markets may restrict its ability to market and sell the company's products, which could materially and adversely affect its revenues and operations.

Self-corrective quality issues related product holds and recalls, mandatory product recalls, safety alerts, or regulatory corrective actions relating to its medical devices may result in significant operational disruption, financial loss, and reputational harm.

The Unaudited Pro Forma Consolidated Financial Information included in this Draft Red Herring Prospectus to reflect the Recent Acquisitions is not indicative of its expected financial performance in future periods or a substitute for the company's past results.

Inability to preserve and extend existing relationships with distributors, customers, and suppliers on current or comparable commercial terms could negatively affect its operations, product reach, and growth prospects.

Intense competition and pricing pressure across the company's key businesses, i.e., medical devices, clinical diagnostics, and scientific laboratory solutions may adversely affect market share, profitability, and future growth.

Inability to keep pace with rapid technological advancements and changing customer preferences may erode the company's competitive positioning and result in revenue or margin loss.

Changes in international and domestic regulations, accreditation standards, and data privacy laws across multiple jurisdictions could increase compliance costs and disrupt the company's lab solutions operations, with potential adverse effects on its financial condition.