Fly-Hi Maritime Travels Ltd IPO

Proven Track Record.

Experienced Management.

Establish Relationship with Customers.

Skilled and hardworking force.

Distributor for better customer servicing.

Business operations in outside India.

The company derives a significant portion of revenue from markets outside India and any adverse developments in such markets or policies could adversely affect its business and results of operations.

The company has executed agreements with its large clients. If the companys customers choose not to source their requirements from it, or the company is unable to procure new orders on a regular basis or at all, this may adversely affect its business, financial condition, results of operations and cash flows.

The Companys operations requires significant amount of working capital for a continuing growth. Its inability to meet the companys working capital requirements may adversely affect its results of operations.

The Company has delayed in complying with certain statutory provisions under various laws. Such delayed compliance/lapses may attract certain penalties.

There are certain discrepancies and non-compliances pertaining to GST, TDS, TCS, EPF and ESI noticed in some of the companys financial reporting and/or records relating to filing of returns and deposit of statutory dues with the taxation and other statutory authorities.

The company requires working capital for its smooth day-to-day operations of business and any discontinuance or its inability to acquire adequate working capital timely and on favourable terms may have an adverse effect on the companys operations, profitability and growth prospects.

The companys majority of the business is dependent on an exclusive distributor appointed by it to work exclusively for the company and who contributes to majority of its revenues from operations. Any dispute or due to inferior service provided by them to the companys customers or any other sort of disruption may result in loss of business for the company and may adversely affect its revenues and profitability.

The companys business depends on its relationships with a limited range of suppliers i.e. third party vendors, and any adverse changes in such relationships, or the companys inability to enter into new relationships, could adversely affect its business and results of operations.

Few of the companys License and registration is registered in the name of erstwhile Fly-Hi Maritime Travels Private Limited and certain certificates or registration is yet to be applied with concerned authorities for amendment or new certificates or renewal.

The company depends on its third-party service providers and vendors/suppliers in certain aspects of the companys operations and unsatisfactory services provided by them or failures to maintain relationships with them could disrupt its operations.