Transline Technologies Limited IPO

The company derives a significant portion of its revenue from operations from the company's top 10 customers, with its largest customer contributing 25.53%, 23.04% and 36.32% of the company's revenue from operations in Fiscal 2025, Fiscal 2024 and Fiscal 2023, respectively. Loss of any of these customers or a reduction in purchases by any of them could adversely affect its business, results of operations, cash flows and financial condition.

The company's business is dependent on the timely execution of its Order Book which stood at Rs.1,986.86 million as of March 31, 2025, which may be subject to delays, modifications, cancellations or payment defaults. The company cannot assure you that our Order Book will be converted into revenues or profits, which could materially and adversely affect its business, results of operations, cash flows and financial condition.

The company is significantly dependent on its video surveillance, biometrics solutions and IT Infra business which constituted 80.36%, 77.72% and 84.25% of the company's revenue from operations in Fiscal 2025, Fiscal 2024 and Fiscal 2023, respectively. Any adverse development in these business segments, including delays, cost overruns, cancellations or failures to secure new projects, could materially and adversely affect its business, results of operations, cash flows and financial condition.

The company's Business is working capital intensive and may require additional financing to meet those requirements, which could have an adverse effect on its business, results of operations, cash flows and financial condition.

The company's inability to collect receivables in a timely manner, or at all, and any default in payment by its customers, could adversely affect the company's profitability, working capital, results of operations, cash flows and financial condition.

The company's business may be adversely affected if the company fails to anticipate, develop, and implement new products and services or upgrade its existing offerings in a timely manner to respond to rapid technological changes and evolving customer needs.

The company is significantly dependent on contracts with government customers, including Government of India ("GoI") agencies, state government departments, urban local bodies, and public sector undertakings contributing to over 66.00% in Fiscal 2025. Any failure to secure or execute such contracts or any adverse change in the procurement process, policies, or customer behaviour may materially and adversely affect its business, results of operations, cash flows and financial condition.

The company is subjects to risks associated with the competitive bidding process for contracts, and any failures to qualify, submit successful bids or secure awarded contracts may adversely affect its business, results of operations, cash flows and financial condition.

The company's business and profitability are substantially dependent on the availability and cost of customer services, software, equipment, components and other materials and the company is dependent on third party suppliers for meeting the majority of these requirements. Any disruption to the timely and adequate supply of customer services, software, equipment, components and other materials, or volatility in their prices may adversely impact its business, results of operations, cash flows and financial condition.

The company may be exposed to potential warranty claims, product recalls and returns which could adversely affect its business, results of operations, cash flows and financial condition.