Shining Tools Ltd IPO

Our manufacturing facility and our registered office is situated at Survey no. 63/2, Plot No. 2, Rajkot, Gondal Highway, Pipaliya, Gondal, Rajkot-360311, Gujarat, India resulting in concentration in a single region. Any interruption for a significant period of time, in these facilities may in turn adversely affect our business, financial condition and results of operations.

We have only one Manufacturing Facility, continued operations of our manufacturing facility is critical to our business and any disruption in the operation of our manufacturing facility may have a material adverse effect on our business, results of operations and financial condition.

Our historical revenues have been largely dependent on few customers and our inability to maintain such business may have an adverse effect on our results of operations.

Our results of operations and cash flows could be adversely affected, if we are unable to collect our dues and receivables from, or invoice our unbilled services to, our clients.

Majority portion of our domestic sales are derived from the western zone and any adverse developments in this market could adversely affect our business.

Statutory records, including filings with the Registrar of Companies, are presently untraceable, particularly with respect to documentation evidencing one instance of historical share allotment.

Our Company may incur penalties or liabilities for non-compliance with certain provisions of the GST Act, Income Tax, and other applicable laws in previous years.

Volatility in the supply and pricing of our raw materials, or failure by suppliers to meet their obligations, may have an adverse effect on our business, cash flows, financial condition, and results of operations.

The Restated Financial Statements have been provided by Peer Reviewed Auditor who is not Statutory Auditor of our Company for the Financial Year ended March 31st 2023 and March 31st 2022.

There are certain discrepancies/errors noticed in some of our corporate records relating to forms filed with the Registrar of Companies and other provisions of Companies Act, 2013 during the last five years. Any penalty or action taken by any regulatory authorizes in future for noncompliance with provisions of corporate and other law could impact the financial position of the Company to that extent.