Its projects are awarded through the competitive bidding process by government authorities/bodies and Private Companies. The company may not be able to qualify for, compete and win future projects, which could adversely affect its business and results of operations.

The company relies on its in-house designing and engineering team for project execution. Loss of employee(s) may have an adverse effect on the execution of its projects.

Its Registered Office, Corporate Office and Workshop from where the company operates is not owned by it.

Delays in the completion of current and future projects could lead to payment of liquidated damages for its engineering, procurement, construction and Commissioning ("EPCC"), which could have an adverse effect on its cash flows, business, results of operations and financial condition.

Increase in the prices of raw materials and labour could have an adverse effect on its business, results of operations and financial condition.

The Company, its Directors and its Promoters are party to certain litigation and claims. These legal proceedings are pending at different levels of adjudication before various forums and regulatory authorities. Any adverse decision may make it liable to liabilities/penalties and may adversely affect its reputation, business and financial status.

Its actual cost in executing Projects may vary substantially from the assumptions underlying its bid or estimates. The company may be unable to recover all or some of the additional costs and expenses, which may have a material adverse effect on its results of operations, cash flows and financial condition.

Its business is working capital intensive. If the company experience insufficient cash flows to meet required payments on its working capital requirements, there may be an adverse effect on the results of its operations.

The company has had negative cash flows from Operating, investing and financing activities in the past and a consequent net decrease in cash and cash equivalents in some of the recent years.

The Company is dependent on a few suppliers for purchases of products. The loss of any of these large suppliers may affect our business operations.