1. Its electric vehicle supply equipment business ("EV Charger Business") is correlated with and thus dependent upon the continuing rapid adoption of, and demand for electric vehicles ("EVs")
2. The company is dependent on the five most significant customers under its critical power solutions business ("Critical Power Business"), who contributed over 50% of its revenue from operations in each of the last three Financial Years. Loss of any of these customers or a reduction in purchases by any of them could
adversely affect its business, results of operations and financial condition.
3. The company is dependent on global suppliers for the supply of raw materials and key inputs and may not be able to reduce its dependency on such imports. If critical components or raw materials become scarce or unavailable, then its may incur delays in manufacturing and delivery of its products and in completing its development programs, which could damage the company business.
4. Its operations are dependent on the company continued research and development initiatives, and its inability to identify and understand, or keep up with evolving industry trends, technological advancements, customer preferences and develop new products to meet its customers' demands may adversely affect its business.
5. The disruption, shutdown or breakdown of operations at its manufacturing facilities may have a material adverse effect on its business, financial condition and results of operations.
6. The company typically do not enter into long-term arrangements with its customers, and do not have any firm commitment of quantity or price of products to be supplied thereunder. If its customers choose not to renew their agreements with it or continue to place order with the company, its business and results of operations will be adversely affected.
7. The company derived a portion (more than 50%) of its revenue from operations in each of the last three Financial Years from customers in the Indian telecommunication sector. Any adverse changes in the Indian telecommunications sector could adversely impact its business, results of operations and financial condition.
8. The company depends on third parties for the uninterrupted supply of components and raw material and delivery of its products. Volatility in the price or disruption in the supply of raw materials or failure of its suppliers to meet their obligations could impact its production and increase its costs.
9. If the current sales of its Li-ion based energy storage solutions ("Li-ion Batteries") are not maintained due to, amongst others, any delay in the industry wide adoption of Li-ion Batteries or its obsolescence in the future, its business, financial condition and results of operations may be adversely affected.
10. A portion of its revenue from its Critical Power Business is dependent on it winning bids. Bidding for a tender involves various management activities such as cost estimations and an inability to accurately measure the cost may lead to loss of tender creating an adverse impact on its business, results of operations, financial condition and cash flows.