1. In the three months ended June 30, 2024, and Fiscals 2024, 2023 and 2022, we serviced 367, 476, 355 and 400 customers, respectively. We generate a significant portion of our revenues from a limited number of customers, and any loss or reduction of business from these customers could reduce our revenues and adversely affect our business, results of operations, financial condition, and cash flows.
2. Our revenues are dependent on a limited number of industry verticals, and any decrease in demand for our services in these industry verticals could reduce our revenues and adversely affect our business, results of operations, financial condition, and cash flows.
3. Our contracts with customers subject us to extensive compliance requirements. Failure to comply with the terms of these contracts may lead to breach of the termination of the contracts and action against us for breach, which may adversely affect our business, results of operations and financial condition.
4. We are exposed to the risks of providing solutions and services to the government projects / institutions and public sector enterprises.
5. Failure of our information technology infrastructure or any breach of our information technology systems may adversely affect our business, results of operations and financial condition.
6. Our business is dependent and will continue to depend on our manufacturing units, and we are subject to certain risks in our manufacturing process. Any slowdown or shutdown in our manufacturing operations or strikes, work stoppages or increased wage demands by our employees that could interfere with our operations could have an adverse effect on our business, financial condition and results of operations.
7. We rely on the timely supply of different raw materials for manufacturing, personalizing and printing our products. Our business could be adversely affected if our suppliers fail to meet their delivery obligations or raise their prices.
8. Our business may be adversely affected by costs relating to errors or product defects, and we could be faced with product liability and warranty claims.
9. Certain forms filed by us with the RoC and certain corporate records and other documents, are not traceable and have discrepacies. While we have conducted a search with the RoC, in respect of the unavailability of such forms and other records, we cannot assure you that such forms or records will be available at all or any time in the future.
10. The emergence of new and advanced technologies could render our existing solutions obsolete or irrelevant which could adversely impact our results of operations, financial condition and cash flows.