1. The company derives significant portion of its revenue from sell of Gherkins as accounted for 84.90%, 93.50%, and 90.90 of the company revenue from operations in Fiscal 2022, 2023 and 2024 respectively. An inability to anticipate and adapt to evolving consumer preferences and demand for particular products, or ensure product quality may adversely impact demand for its products and consequently the company's business, results of operations, financial condition and cash flows.
2. Improper storage, processing or handling of whole products of Gherkins, Baby Corns, Banderilla, Chilies, Bell Pepper and other products may result in spoilage of, and damage to, such whole Gherkins, Baby Corns, Banderilla, Chilies, Bell Pepper and other products which may adversely affect its business prospects, results of operations and financial condition.
3. Real or perceived product contamination could result in reduced sales, product liability and damage to its reputation, and subject the company to regulatory action.
4. The company is highly dependent on its management team and certain management personnel, any loss of such team members or the inability to attract or retain research and development personnel may materially adversely affect its business performance and research and development efforts.
5. The company derives a significant portion of its revenue from customers located overseas, including in Russia, which is currently involved in a war with Ukraine.
6. The company completed its conversion from a Partnership firm to a public limited company on November 22, 2023. However, the accounts of the partnership firm were subsequently closed on January 23, 2024.
7. The company faces foreign exchange risks that could adversely affect its results of operations and cash flows.
8. Its top ten customers contribute majority of the company's revenues from operations. Any loss of business from one or more of them may adversely affect its revenues and profitability.
9. The discontinuation of, the loss of business with respect to, or a lack of commercial success of, a particular product for which the company is a significant supplier could affect its business and results of operations.
10. The requirement of funds in relation to the objects of the Issue has not been appraised.