1. Our Company, its Promoters, Directors, Group Entities and Key Managerial Personnel are parties to certain
legal proceedings. Any adverse decision in such proceedings may have a material adverse effect on our
business, results of operations and financial condition.
2. A portion of our revenues are generated from exports. Any adverse changes in the conditions affecting these
exports and our inability to grow our business in new geographic markets may adversely impact our business,
results of operations, profitability and margins, cash flows and financial condition.
3. An increase in the cost of raw materials or a shortfall in the availability of raw materials such as Paper Cup
Board, Craft Paper, Granules for PE and PLA coating, Ink and Food Grade Chemicals - OGR, OTR and MTR
from our suppliers due to various reasons could have a material adverse effect on our business, results of
operations, cash flows and financial condition as we may not be able to pass on such costs to our customers.
4. We have experienced fire outbreak in our manufacturing facility on May 05, 2023. We regularly work with
flammable materials and activities in our operation which can be dangerous and could cause injuries to people
or property.
5. Our Company has reported certain negative cash flows from its investing activities and financing activities,
details of which are given below. Sustained negative cash flow could impact our growth and business.
6. Restated Standalone Financial Statements disclosed in the Draft Red Herring Prospectus may differ from that
of disclosed in this Red Herring Prospectus
7. We derive a significant portion of our revenue from our top 5 & top 10 customers. The loss of one or more
such customers, the deterioration of their financial condition or prospects, or a reduction in their demand for
our products could adversely affect our business, results of operations, financial condition and cash flows.
8. Our manufacturing capacity may not reach their installed capacity and we may also be unable to effectively
utilize our expanded manufacturing capacities.
9. Our business is largely concentrated in two states i.e. Madhya Pradesh and Gujarat ("States") and is affected
by various factors associated with these states.
10. Our Company procures more than 85% of its total raw material requirements mainly from five suppliers, any
dispute with them or any delay/ disruption/ strike/ lock-outs in their business operation could have a material
adverse effect on our business, production, sales and financial condition.