A power EPC company with in-house manufacturing capabilities.
Cost efficient business model with integrated business segments.
Manufacturing facilities with diverse product offerings.
Order book across various regions in India.
Partnerships with global companies for advanced technology.
Promoters and management team, with operational and workforce oversight.
The company's business and revenues is substantially dependent on orders received from state-owned electricity
boards (SEBs) and public sector power utilities. 53.12%, 79.89% and 85.58% of the company's revenue from
operations in the Fiscal 2026, 2025 and 2024, respectively, is from government entities and in the event
any one or more such clients were to cease to issue tenders, its business could be adversely affected.
Revenue from the company's top 10 customers comprise a significant portion of its Revenue from Operations
(46.52% for the Fiscal 2026, 80.33% for the Fiscal 2025 and 90.78% for the Fiscal 2024). Any adverse
changes affecting their financial condition or the loss of any of these customers will have an adverse effect
on the company's business, results of operations, financial condition and cash flows.
The sale of cables and conductors manufactured by the Company contributes a significant portion to its
Revenue from Operations (more than 60% for Fiscals 2026, Fiscals 2025 and 2024). Any adverse
development in the company's performance in the manufacturing business could have an adverse effect on its
business, cash flows, results of operation and financial position.
Any increases or fluctuations in prices of, or delay or disruption in supply of primary raw materials could
affect the company's estimated costs, expenditures and timelines which may have a material adverse effect on its
business, financial condition, results of operations and cash flows.
The company's revenue from its EPC segment is dependent upon the company's ability to effectively secure contracts
awarded to it through the competitive bidding route. Consequently, the company's results of operations and cash
flows may be adversely affected or fluctuate materially periodically.
The company has high working capital requirement. If there are delays in the collection of receivables from its
customers or the company is unable to access suitable financing to meet working capital requirements, it could
lead to material adverse effect on its business, prospects, financial condition and results of operations.
The company has had negative cash flow from operating activities in the past and may continue to have negative
cash flows in the future, which could have an adverse effect on its profitability if the company is required to fund
this through external borrowings.
The company's continued operations at its manufacturing facilities are critical to the company's business and any disruption,
breakdown or shutdown of its manufacturing facilities may have a material adverse effect on the company's
business, financial condition, results of operations and cash flows.
The company will not receive any proceeds from the Offer for Sale portion and objects of the Fresh Issue for which
the funds are being raised have not been appraised by any bank or financial institutions. Any variation in
the utilization of its Net Proceeds as disclosed in this Red Herring Prospectus would be subject to certain
compliance requirements, including prior shareholders' approval.
The company relies on a limited number of parties for the supply of its raw material, loss of some of these suppliers
may have an adverse effect on the company's business, results of operations and financial conditions.
