1. Outbreaks of contagious diseases, such as the recent outbreak of COVID-19, may have a material adverse effect on its business, financial condition, results of operations, cash flows and prospects.
2. Its success depends on its ability to build new manufacturing plants and add production lines in a cost-effective manner, both of which are subject to risks and uncertainties.
3. The company may be unable to benefit from the government policies like PLI scheme and various other policies.
4. The company do not have long-term contracts with suppliers of solar PV cells and all other raw materials and therefore are susceptible to potential unavailability of raw materials.
5. The company is derive a significant amount of revenue from only one product and therefore its continued success is necessary for its business and prospects.
6. Changes in the price of wafers, solar PV cells and other raw materials due to changes in demand or other factors could adversely affect its manufacturing of solar PV modules.
7. The Company, certain of its Directors, some of whom are also its Promoters, and one of its Corporate Promoters are involved in certain legal proceedings. Any adverse decision in such proceedings may render it/them liable to liabilities/penalties and may adversely affect its business and results of operations.
8. The company is required to maintain certain licenses, approvals, registrations, consents and permits in the ordinary course of business.
9. Its revenue from operations is highly dependent upon a limited number of customers.
10. Reduced growth in, or the reduction/ removal of, exemption of, elimination or expiration of, government subsidies and economic incentives to promote solar energy and domestic production could reduce demand for its solar modules.