JNK India Ltd IPO

The company derives a significant portion of its revenue from orders which are contracted to the company by Contracting Customers, any failure to obtain new contracts may impact its revenue from operations, cash flows and financial conditions materially and adversely.

The number of orders the company has received in the past, the company current Order Book and its growth rate may not be indicative of the number of orders the company will receive in future. The order wins and any delays in execution of its orders expose it to time and cost overruns and variability in revenue, materially and adversely impacting the company revenue from operations, cash flows and financial conditions.

The company is unable to trace some of the historical records and there have been certain instances of regulatory non-compliances in the past. Its may be subject to regulatory actions and penalties for any such past or future non- compliance or delays and its business, financial condition and reputation may be adversely affected.

The company has derived majority of its revenues from its Corporate Promoter, JNK Global and use their experience and technology support for select projects. Any kind of dissociation with JNK Global may have an adverse impact on its business, results of operations and cash flows.

Availability and cost of raw materials may adversely affect its business, results of operations, financial condition and cash flows. Also, the company does not enter into any long-term contracts with its suppliers.

Any downside in the capital expenditure of oil and gas, petrochemical and fertilizers industry would create an adverse impact on its revenue from operations, cash flows and financial conditions.

The company derives a majority portion of its revenues from sales of Heating Equipment. Loss or decline in the demand of such Heating Equipment may result in an adverse effect on its business, revenue from operations and financial condition.

The company is subject to various laws and regulations, including environmental and health and safety laws and regulations. If the company fail to obtain, maintain or renew the licenses, permits and approvals required to operate its business, or fail to comply with applicable laws, its business, results of operations and financial condition may be adversely affected.

The company is an asset light Company wherein its outsource its fabrication process to third-party fabricators for most of the company projects which presents numerous risks.

Its market capitalization to revenue from operations multiple, market capitalization to tangible assets multiple and enterprise value to EBITDA multiple at the Offer Price may not be indicative of the market price of its Equity Shares on listing or thereafter.