Dhoot Transmission IPO

Established leadership position in India and scaled operations in 2W and 3W wiring harnesses, supported by an extensive and critical product portfolio.

Its positioned to capitalize on key industry trends, leveraging our differentiated capabilities to deliver sustained growth and value.

Strong business foundation anchored by a marquee customer base and diversified business mix, enabling sustained growth.

Strong financial performance.

Professional & Experienced Management Team, robust R&D team and investor support.

We derived a significant portion of our revenue from operations (Rs.29,626.97 million, Rs.23,049.09 million and Rs.18,052.79 million, i.e. 65.47%, 66.91% and 64.53%, in Fiscal 2026, Fiscal 2025 and Fiscal 2024, respectively) from the two-wheeler (2W) automotive sector in India, and Rs.5,817.77 million, Rs.4,305.00 million and Rs.3,275.70 million, i.e. 12.86%, 12.50% and 11.71%, in Fiscal 2026, Fiscal 2025 and Fiscal 2024, respectively, from the three-wheeler (3W) automotive sector in India, in each case primarily through the sale of wiring harnesses, which constituted 77.08%, 78.00% and 81.93% of our revenue from operations in Fiscals 2026, 2025 and 2024, respectively. Any adverse changes in these sectors in India, or in demand for, pricing of or technology relating to wiring harnesses, could adversely impact our business, results of operations, cash flows and financial condition.

We are dependent on our top five and top ten customers. Our top ten customers (based on contribution to revenue from operations in Fiscal 2026) contributed 80.93%, 81.81% and 77.90% of our revenue from operations in Fiscals 2026, 2025 and 2024, respectively. Any failure to maintain our relationship with these customers will have an adverse effect on our business, results of operations, cash flows and financial condition.

We do not have firm, long-term volume commitments with OEM customers. Termination, modification or reductions in customer requirements could adversely affect our business, results of operations, financial condition and cash flows.

Our business is capital intensive and we incur substantial capital expenditure and working capital requirements and may require additional financing to meet those requirements, which could have an adverse effect on our business, results of operations, cash flows and financial condition.

We derived 90.14%, 89.80% and 86.92% of our revenue from contract with customers in Fiscals 2026, 2025 and 2024, respectively, within India as a % of revenue from operations. Any adverse changes in economic or regulatory conditions that negatively affect the demand for our products in these markets could affect our results of operations.

Certain of our facilities including at Hosur, Tamil Nadu and Pithampur, Madhya Pradesh currently operate at high-capacity utilization levels and we may not be able to meet additional demand for our products until we are able to increase our capacity. Further, if we underestimate or overestimate the demand for our products, the capacity utilization of our manufacturing facilities may be under-utilized or over-utilized, respectively, which could adversely affect our profitability and manufacturing schedules.

We regularly work with hazardous materials, and heavy machinery at our manufacturing facilities and activities in our operations can be dangerous, which could cause injuries to people or damage property.

Failure or disruption of our IT systems may adversely affect our business, financial condition, results of operations and prospects.

Our Statutory Auditors and Previous Statutory Auditor have reported an emphasis of matter in the audit report for Fiscals ended March 31, 2024.

We have in the past entered into a number of related party transactions and may continue to enter into related party transactions in the future, and there can be no assurance that we could not have achieved more favourable terms if such transactions had not been entered into with related parties.