Since 2018, the company has been certified as a manufacturer of medical diagnostic X-ray equipment by AERB. They also obtained a license to manufacture medical devices for testing from The Central Drugs Standard Control Organisation (CDSCO).
The company's testing lab is now NABL-certified for medical diagnostic X-ray equipment testing.
The company has garnered certificates for its fabrication work in compliance with EN Standards and is recognized as a welding workshop that meets the standard requirements.
Their electrical control panels have CE certification, ensuring product quality and safety. For international export orders of medical X-ray systems, they conduct tests in accordance with IEC standards, facilitating distribution and use in multiple countries.
The company's revenue from operations increased at a CAGR of 42.90% from Rs. 5,977.39 lakhs in 2021 to Rs. 12,205.82 lakhs in 2023. They have also seen profit growth, rising from Rs. 220.08 lakhs in 2021 to Rs. 1,238.30 lakhs in 2023.
Saakshi Medtech relies heavily on key customers for selling its products. In 2023, 2022, and 2021, the top five customers accounted for 93.08%, 90.45%, and 90.57% of their revenue from operations, respectively. The potential loss of these customers or a decrease in revenue from them could significantly impact the company's business and cash flow.
The company's primary revenue source comes from the sale of electrical control panels and cabinets. Any failure to predict or adapt to changes in product requirements, maintain product quality, or reduce demand for these items may adversely affect their revenue and growth.
The company faces potential disruptions due to delays, interruptions, or reductions in the supply of raw materials needed for manufacturing. Key components like weld nuts, bolts, rivets, washers, conduits, hose clamps, gaskets, etc., are imported from countries like the USA, China, and Germany.
The company's manufacturing facilities, factory units I and II, operate on leased premises from the Maharashtra Industrial Development Corporation, and their lease agreements may not be renewed upon expiration.
The company's expansion plans for factory unit III are subject to potential delays, uncertainties, and cost overruns.
The company primarily manufactures and sells its products in India, serving multinational customers with global headquarters in North America and Europe. Their operations are exposed to country-specific risks based on their customer locations.
The company is involved in legal proceedings and potential litigations, and an adverse decision in these cases could result in liabilities, penalties, or prosecutions, adversely affecting their business.
The company has availed unsecured loans, including Rs. 33.47 lakhs as of March 31, 2023, which lenders may call at any time.
As of March 31, 2023, the company had contingent liabilities totaling Rs. 581.94 Lakhs, and if these liabilities materialize partially or fully, it could impact the company's financial condition.
The company faces foreign currency fluctuation risks due to importing certain raw materials and components, which may affect its operational results.