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.

Any delays, interruptions or reduction in the supply of raw materials to manufacture its products and any abrupt fluctuations in the prices of the company raw materials may adversely affect the pricing of its products and may have an impact on the company Business, Results of Operation, Financial Condition and Cash Flows.

The company derives a significant portion of its revenues from a limited number of customers. The loss of, or a significant reduction in the revenues the company receive from, one or more of these customers, may adversely affect its business.

The company has certain outstanding litigation against it, an adverse outcome of which may affect its results of operations.

The company derives a significant portion of its revenue from Ball Valves, Gate Valves, Globe Valves, Butterfly Valves and Check valves, any reduction in demand or in the production of such products could have an adverse effect on its business, results of operations and financial condition.

The Company sells its products for specific use by certain Industries. Any reduction in the demand or requirement of its products in such Industries may result in loss of Business and may affect the company Financial Performance and Financial Condition.

The company source its 100 % raw materials from domestic market i.e. Gujarat and Maharashtra. Any adverse developments affecting its procurement in these regions could have an adverse impact on the company revenue and results of operations.

The company generate its major portion of sales from its operations in certain geographical regions especially, Maharashtra, New Delhi and Gujarat. Any adverse developments affecting its operations in these regions could have an adverse impact on its revenue and results of operations.

The Restated Financial Statements have been provided by Peer Reviewed Chartered Accountants who is not Statutory Auditor of the Company.

Any disruption, breakdown or shutdown of its Manufacturing operations at the company Manufacturing Facility could have an adverse effect on its Business, Financial Condition and Results of Operations.