Leading market position offering customers an energy efficient solution across industries with high
growth potential.
High barriers to entry for competitors.
Strategically located facilities offering community gas generation and distribution.
Marquee customer base with long-term relationships driven by our value proposition.
Track-record of implementing eco-friendly solutions and promoting sustainable development.
Experienced Promoters and senior management team with strong industry expertise and extensive
product knowledge.
The company operations are limited to providing steam and other industrial gases to customers in close proximity to its facilities. Further, the company's business and growth plans are dependent on its ability to find suitable land for the development of the company steam and other industrial gas facilities which are in close proximity to the industrial clusters where its potential customers are located.
The company's top ten customers contributed 47.87% of its revenue from operations in Fiscal 2026. The company also derives a significant portion (90.72% in Fiscal 2026) of its revenue from operations from repeat orders. Loss of any of these customers or a reduction in purchases or repeat orders by any of them could adversely affect the company's business, results of operations, cash flows and financial condition.
The company's business and profitability are substantially dependent on the availability of coal for its steam production with purchases of coal contributing 77.29%, 76.19% and 92.01% of the company's total purchases for Fiscal 2026, Fiscal 2025 and Fiscal 2024, respectively.
The company has previously entered into related party transactions with Group Companies, which constituted 99.27% of total related party transactions in Fiscal 2026. Its may continue to enters into related party transactions with Group Companies in the future.
The company has previously entered into related party transactions, and Its may continue to do so in the future.
The company relies on its top ten suppliers for the company's material requirements which constituted 81.71%, 75.35% and 76.53%, of its overall purchases in Fiscal 2026, Fiscal 2025 and Fiscal 2024, respectively. Any increase in the prices, availability and quality of materials or loss of these suppliers could adversely affect the company's reputation, business, results from operations, financial conditions and cash flows.
The success of the company's business depends on the continued demand for steam and industrial gas, and any change in this demand could materially and adversely affect its business, results of operations, cash flows and financial condition.
The company has in the past been in violation of certain material approvals of the Gujarat Pollution Control Board such as operating a boiler before receiving the final approval from the regulatory authority. In the future, Its may incur increased costs, be subject to penalties, or have the company's approvals and permits revoked for non-compliance with the approvals of the Gujarat Pollution Control Board.
The company requires various permits, licenses and approvals to operates its businesses, and the failures to obtain or retain such licenses or approvals in a timely manner or at all may adversely affect the company's business, results of operations, cash flows and financial condition.
The company were awarded a work order for the Pirana facility through a tender by the Ahmedabad Municipal
Corporation. The company is required to pay Ahmedabad Municipal Corporation a royalty after commercial
operation of the facility, and such royalty payments may adversely affect the profitability of the Pirana
facility. Further, its construction of the facility has been delayed which could attract contractual penalties
and interest which, if assessed, could adversely affect the company's business, results of operations, cash flows and
financial condition. In addition, if the company has not recovered its investment or achieved the company's projected rate of
return for the facility at the end of the 10 year term to its work order and such term is not renewed, the company's
business, results of operations, cash flows and financial condition could be adversely affected.
