1. The company derives a significant portion of its revenue from operations from the company top ten customers, with its single largest customer contributing more than 17.39%, of its revenue from operations in the six months period ended September 30, 2024. 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.
2. The company is dependent on the performance of industries in which its customers operate and fluctuations in the performance of such industries may result in a loss of such customers, a decrease in the volume of work the company undertake or the price at which it offer its services.
3. Its success depends on the company ability to generate sufficient volume of cargo and optimise revenue to achieve desired profit margins and avoid losses. Any failures on its part to achieve desired operating or net profit margins could have an adverse impact on its business, results of operations and financial condition.
4. The company faces significant competition from domestic and international shipping and logistic players which may lead to a reduction in its market share, which in turn may adversely affect the company business, results of operations, financial condition and cash flows.
5. The company is subject to various risks associated with transportation and its may face claims relating to loss or damage to cargo, personal injury claims or other operating risks that are not adequately insured.
6. The company success largely depends upon the knowledge and experience of its Promoters, Directors, Key Managerial Personnel and Senior Management as well as its ability to attract and retain personnel with technical expertise. The company inability to retain its Directors, Key Managerial Personnel and Senior Management or its ability to attract and retain other personnel with technical expertise could adversely affect its business, results of operations and financial condition.
7. Any disruptions which affect its ability to utilize the company transportation network in an uninterrupted manner could result in delays, additional costs or a loss of reputation or profitability.
8. Its operations may be subject to strikes and work stoppages by the company employees and are also susceptible to risks relating to compliance with labour laws, either of which could result in an increase in its employee benefits expense impacting the company profitability.
9. Its cargo handling services are dependent on the ports and jetties on which the company provide its services. Majority of these ports and jetties are situated across the west coast of India. Any adverse developments affecting its operations in such ports and jetties, could have an adverse impact on its business, financial condition, results of operations and cash flows.
10. The Company has in the past committed procedural non-compliances in respect to GR Waiver Approval by the Foreign Exchange Management Act 1999 and RBI Master circular Master Direction No. 16/2015-16 dated January 01, 2016. However, no adverse actions have been taken by the statutory authorities in relation to such non-compliances.