Diversified product portfolio supported by design capabilities and customer-centric approach.
Integrated manufacturing facilities and established operational systems.
Experienced Promoters and leadership team.
Longstanding relationships with customers.
Strong presence across domestic and international markets.
The company derived 53.19% of its revenue from the company's top ten customers for the period ended June 30, 2026, of which 33.36% of
its revenue was derived from the company's top five customers. Loss of such customers or reduction in business from such
customers will have a significant adverse impact on the company's business and results of operation.
The non-availability or high cost of gold, diamonds, precious and semi-precious metals and stones may have an adverse
effect on the company's business, results of operations, financial condition and prospects. The cost of raw materials and
components consumed as a percentage of its total expenses, for the three months ended June 30, 2026 and Fiscals 2026, 2025, and 2024 was 108.13%, 92.53%, 85.41%, and 86.37% respectively. Further, the company does not have long term
agreements for supply of its raw materials. Any disruption in the timely procurement of these materials from its
existing vendors, or a failures to source suitable alternatives on acceptable terms, could adversely impact the company's production
schedules, increase its costs, and materially affect the company's business and financial condition.
The company purchased 59.40% of its total raw materials and other components from the company's top 10 suppliers for the three months
ended June 30, 2026 of which, its top 3 suppliers contributed towards 34.85%, and the company's top 5 suppliers contributed
43.44%, of its total purchases of raw materials and other components. A continued dependence on a concentrated
supplier base may adversely affect the company's ability to manage its supply chain efficiently and could have a material adverse
effect on the company's business, results of operations, cash flows, and financial condition.
The company has not entered into any long-term contracts with its clients to whom the company's supply its products. In the absence
of long-term contracts, the company cannot assure you that its will be able to maintain continuous demand of the company's products
in the future, including from its top 10 customers, which may adversely affect the company's financial performance.
The company's significant export operations are subject to international market risks that could materially affect its business,
results of operations, and financial condition. Further, the company's sources of export revenue is concentrated to certain
geographical locations. For the three months ended June 30, 2026 and Fiscals 2026, 2025, and 2024, export sales to the company's largest jurisdiction accounted for 40.65%, 37.46%, 39.61%, and 37.62%, respectively of its total export revenues.
Additionally, compliance with export norms, and customs-related uncertainties could adversely affect the company's financial
condition and results of operations.
The company is significantly dependent on its customers located in Maharashtra. For the three months ended June 30, 2026
and Fiscals 2026, 2025, and 2024, the company derived 58.19%, 69.13%, 74.48%, and 70.73%, of its total domestic revenue from
sales in Maharashtra. Loss of customers and revenue in Maharashtra could materially affect the company's business, results of
operations, and financial condition.
The company operates in a single business segment, and any adverse developments in this segment could have a material adverse
effect on its business, financial condition, and results of operations.
Any downgrade in the company's credit ratings could increase its borrowing costs, affect the company's ability to obtain financing, and
adversely affect its business, results of operations and financial condition.
The company's business is dependent and will continue to depends on its manufacturing facilities situated in Maharashtra, which
exposes it to regional risks and risks in relation to the company's manufacturing process. Any disruption, slowdown, or shutdown
in the company's manufacturing operations could adversely affect its business, results of operations, financial condition and cash
flows.
The company has issued Equity Shares during the preceding twelve months (by way of the Pre-IPO Placement) at a price which
may be below the Issue Price.
