Any volatility in the supply and pricing of raw materials and stores & spares.
Any shortage, non-availability, or fluctuations in the price of fuel, power, and water
Significant working capital requirement.
Inability to protect intellectual property rights from being infringed upon
Manufacturing and R&D facilities are located in one state – Gujarat, and any disruption in the state can cause manufacturing to stop.
Risks associated with the overseas market like foreign currency exchange rate fluctuations, tax norms, etc.
Impact of COVID-19.
Dependency on the performance of related industries like real estate, infrastructure, etc.
Any adverse change in regulatory requirements governing its products or the products of its customers.
Modification or cancellation of orders by its customers.
Absence of long-term or definitive agreements with its dealers or customers.
Inability to accurately forecast demand for its products and manage inventory accordingly.