Godavari Biorefineries Limited - IPO

1. Prominent manufacturer of ethanol-based chemicals and one of the largest producers of ethanol in terms of volume.

2. India's largest integrated biorefinery in terms of installed capacity as of March 31, 2024.

3. Diversified product portfolio and well-established relationship with a diversified marquee customer base across industries and geographies.

4. Well-developed in-house research and development capabilities.

5. Member of the Somaiya group and experienced promoter, board of directors, key managerial personnel and senior management.

1. The company depends on a few suppliers for supply of a significant portion of raw materials (excluding sugarcane). Any failures to procure such raw materials from these suppliers may have an adverse impact on its manufacturing operations and results of operations.

2. The company derives a significant portion of its revenue from a few customers and the loss of one or more such customers, the deterioration of their financial condition or prospects, or a reduction in their demand for its products may adversely affect the company's business, results of operations, financial condition and cash flows.

3. The company derives a significant portion of its revenue from a few products. The company results of operations may be adversely affected if revenue from such products decline.

4. SEBI has in the past directed the Company to refund amounts received pursuant to certain allotments to Sameerwadi Sugarcane Farmers' Welfare Trust or to pro rata distribute Equity Shares, to beneficiaries of the Sameerwadi Sugarcane Farmers' Welfare Trust.

5. The company is dependent on certain third party manufacturers for the sale of products under its retail brand ivana'. Any disruption in such third party manufacturers' ability to supply these products or their failures to meet the quality standards or delivery timelines could adversely affect its business, financial condition and results of operations.

6. The company is dependent on the availability of sugarcane, molasses and feedstock for the manufacturing of its products in the sugar, distillery and cogeneration segments. Any shortage of sugarcane, molasses and feedstock may adversely affect its operations, growth prospects and results of operations.

7. There are certain outstanding legal proceedings involving the Company and some of its Promoters and Directors. Failures to defend these proceedings successfully may have an adverse effect on its business prospects, financial condition, results of ongoing operations and reputation.

8. The company has availed certain unsecured borrowings which may be recalled by its lenders at any time.

9. Its failures in maintaining the company quality accreditations and certifications may negatively impact its brand and reputation.

10. Its sugar, distillery and cogeneration segments are dependent on the availability of sugarcane which is subject to seasonal vagaries, adverse weather conditions, crop disease and pest attacks that may adversely affect crop yields impact the availability and quality of sugarcane and feedstock which may have an adverse impact on its business, financial condition and results of operations.