P S Raj Steels Limited - IPO

1. Strong, experienced and dedicated senior management team and qualified workforce.

2. Long term relationship with Jindal Stainless Limited.

3. Cost effective supply chain.

4. Ability to provide good quality services and customer satisfaction.

5. Ability to scout for new opportunities and capitalising the same.

6. Consistent track record of growth and financial performance.

7. Well known name in Stainless Steel Pipes & Tubes.

8. Geographical presence in more than 18 states of India.

9. Ability to serve diverse customer needs.

1. Our Company's sale from trading is expected to decrease in F.Y. 2025 due to decrease in sales to group entity.

2. The part of the revenue earned by our Company is from the Related Parties/ Group Entities. The loss of any of them may affect the revenue of our Company negatively.

3. Our business is largely concentrated in four states ("States") and is affected by various factors associated with these states.

4. Our Company has reported certain negative cash flows from its investing activities and financing activities, details of which are given below. Sustained negative cash flow could impact our growth and business.

5. We source approximately 95% of our raw material requirement from a single supplier, Jindal Stainless Limited ("JSL"). Cancellation or any delay by JSL or any disruption/ strike/ lock-outs in their business operation could have a material adverse effect on our business, production, sales and financial condition.

6. We do not have any long-term agreements with Jindal Stainless Limited, our key supplier, for the continuous supply of raw material. Absence of such agreements leaves us vulnerable to sudden disruptions in supply, potential price increases, or unfavourable adjustments to supply terms, all of which could adversely affect our production schedules and financial stability.

7. Our cost of production is exposed to fluctuations in the prices of raw material particularly HR Coil and CR Coil. Fluctuations in the prices of these raw materials can have a significant impact on our production costs and overall financial performance.

8. Our Company is dependent on few numbers of customers. Any loss of top 10 customers will significantly affect our revenues and profitability.

9. We do not have long-term agreements with any of our customers, the loss of one or more of them or a reduction in their demand for our products could adversely affect our business, results of operations, financial condition and cash flows.

10. Our Company, our Promoters/ Directors and our Group Entities are parties to certain legal proceedings. Any adverse decision in such proceedings may have a material adverse effect on our business, results of operations and financial condition.