Rodec Pharma Limited IPO

The company' business is substantially dependent on a limited number of third-party manufacturers for the manufacture of its veterinary pharmaceutical drug products, and any disruption, termination or adverse developments affecting such manufacturers may adversely affect the company's business, financial condition, results of operations and cash flows.

The company generated significant portion of its revenues from operations only from two segments i.e. Veterinary Pharmaceutical Drugs and Animal Feed Supplements, in the period ended September 30, 2025 and Fiscals 2025, 2024 and 2023, respectively. Any adverse developments affecting these segments may adversely affect its business, results of operations, financial condition, and cash flows.

The company has a limited manufacturing history which may make it difficult for investors to assess its future growth prospects and business.

Concentration of its revenues in the state of Uttar Pradesh exposes the company to state-specific risks that could adversely affect the company's business, results of operations and financial condition.

Delay in obtaining consent to operate from the Uttar Pradesh Pollution Control Board may result in regulatory penalties.

The company derives a significant portion of its revenue from certain key customers. Any reduction in business from such customers, or termination of arrangements or formal arrangements, may adversely affect the company's business, cash flow, financial condition and results of operations.

The rely on its Veterinary Sales Representatives ("VSR"), Consignee Agents and Stockists for the sale and distribution of its products.

Any delay, interruption or reduction in the supply of the company's raw materials for manufacturing activities from raw material suppliers or finished products from the company's third-party manufacturers, or an increase in the costs of such raw materials and finished products, may adversely impact the pricing and supply of its products and have an adverse effect on the company's business, financial condition, cash flows and results of operations.

The company's past performance may not be indicative of its future growth. The company's inability to successfully implement its business plan, expansion and growth strategies could have an adverse effect on the company's business, financial condition, cash flows and results of operations.

The company's manufacturing operations are concentrated at one facility located at Ghaziabad, Uttar Pradesh, which exposes business to geographical concentration risks arising from local and regional factors that may adversely affect operations, business performance, results of operations and cash flows.