Its commercial success is largely dependent upon the company ability to develop and design innovative products suitable for the requirements of its customers. The company inability to effectively utilize and manage its ability to develop and design innovative products would impact its business, revenue and profitability.

The Company is reliant on the demand from the healthcare industry for a significant portion of its revenue. Any downturn in the healthcare industry or an inability to increase or effectively manage its sales could have an adverse impact on the Company's business and results of operations.

The commercial success of its products depends to a large extent on the success of the products of its end use customers. If the demand for the end use products in which its products are used as a raw materials declines, it could have a material adverse effect on its business, financial condition and results of operations.

The company depends on a few customers of its products, for a significant portion of the company revenue, and any decrease in revenues or sales from any one of its key customers may adversely affect its business and results of operations.

The company generates its major portion of sales from its operations in certain geographical regions. Any adverse developments affecting its operations in these regions could have an adverse impact on its revenue and results of operations.

The Company had negative cash flows in the past years, details of which are given below. Sustained negative cash flow could impact its growth and business.

The company has a limited operating history in respect of its products, which may make it difficult for investors to evaluate its business and prospects.

A part of the Issue proceeds will be utilized by the Company for repayment or prepayment of loans availed by the Company.

The company import majority of its raw materials from China. Any inability to pass on increased price of the key raw materials, used for manufacturing its products may affect the company profitability.

The company highly depends on its key raw material and a few key suppliers who help it procure the same. The Company has not entered into long-term agreements with its suppliers for supply of raw materials. In the event the company is unable to procure adequate amounts of raw materials, at competitive prices its business, results of operations and financial condition may be adversely affected.