Swastika Castal Limited IPO

1. Substantial portion of our revenues are dependent on few customers and the loss of, or a significant reduction in purchases by any one or more such customers could adversely affect our financial performance.

2. Financial and Market Risks.

3. Our design and engineering team designs our products as per the specifications provided by the Customers. Any variation from the customer specification may lead to increase in cost or reduce margins.

4. We rely significantly on some suppliers for the supply of our raw materials. If these suppliers are unable or unwilling to supply raw materials on time or otherwise fail to meet our requirements, our business will be harmed. An inability to procure the desired quality, quantity of our raw materials and components in a timely manner and at reasonable costs, or at all, may have a material adverse effect on our business, results of operations and financial condition.

5. The aluminium casting and manufacturing business is inherently capital-intensive, requiring substantial financial investment to establish and maintain operations.

6. We may be unable to obtain, renew or maintain statutory and regulatory permits, licenses and approvals required to operate our business which could result in an adverse effect on our results of operations. We require certain statutory and regulatory permits, licenses and approvals for our business.

7. If there are delays in setting up the proposed expansion or if the costs of setting up and the possible time or cost overruns related to the proposed facilities or the purchase of plant and machinery for the proposed facilities are higher than expected, it could have a material adverse effect on our financial condition, results of operations and growth prospects.

8. We rely on repetitive orders from our long-term customers.

9. The aluminium casting and manufacturing industry presents significant entry barriers.

10. We operate through direct contracts with our customers.