Hexagon Nutrition Ltd IPO

A fully integrated holistic nutrition company offering end-to-end solutions across the value chain and a marketleader in customized micronutrient formulations.

Recognized wellness and clinical nutrition brand in the market.

Long Standing Relationships with our customers.

Established R&D capabilities with focus on innovation.

Manufacturing capabilities of products with quality and food safety procedures.

Well established pan India omnichannel distribution with presence across various geographies.

Professional turned entrepreneur promoters with experienced management team.

Track record of growth in financial performance.

We are significantly dependent on the premix formulation segment for a substantial portion of ourrevenues. During the nine month period ended December 31, 2025, Fiscal 2025, Fiscal 2024, andFiscal 2023, revenue from the premix formulations segment amounted to Rs. 1,377.26 million, Rs.1,546.95 million, Rs. 1,333.13 million, and Rs. 1,527.99 million, respectively, contributing 51.47%,47.61%, 44.78%, and 54.86% of our revenue from operations for the respective Fiscals. Any adversedevelopment affecting this segment may have a material adverse effect on our business, financialcondition, and results of operations.

We are dependent on a limited number of customers for a significant portion of our revenue. During the nine month period ended December 31, 2025, Fiscal 2025, Fiscal 2024, and Fiscal 2023, revenuefrom our top 10 customers aggregated to Rs. 1,118.97 million, Rs. 1,490.49 million, Rs. 1,453.69 million,and Rs. 1,271.29 million, constituting approximately 41.82%, 45.87%, 48.83%, and 45.65% of ourrevenue from operations, respectively. Loss of one or more such customers or a reduction in theirorder volumes may adversely affect our business, financial condition, and results of operations.

Reconstruction of a portion of our Nashik Facility pursuant to past regulatory actions may lead totemporary production disruptions, operational inefficiencies, and potential revenue impact

Sale of expired, defective, or non-compliant products, or failure to meet applicable quality standards,could expose us to significant liability, damage our reputation, and adversely affect our business,results of operations, and financial condition.

We do not have long-term contracts with our raw material suppliers, and volatility in raw materialprices or adverse sourcing conditions may adversely impact our operations, profitability, and financialperformance.

Our efforts to introduce new products are dependent on the success of our research and developmentinitiatives. Our inability to successfully develop and commercialise new products in a timely mannercould adversely impact our business, growth, and financial condition.

The presence of counterfeit and look-alike products, particularly in the domestic market, may harmour brand reputation, erode customer trust, and adversely impact our business and financialperformance.

Majority of our revenue from operations are generated from key states of India, includingMaharashtra, Karnataka, Tamil Nadu and Gujarat which exposes our operations to potentialgeographical concentration risks arising from local and regional factors which may adversely affectour operations and in turn our business, results of operations and cash flows.

Exposure to cross-border operational, regulatory, and macroeconomic risks across multiplejurisdictions may materially and adversely affect our business, cash flows, results of operations, andfuture prospects.

Suboptimal capacity utilisation at our manufacturing facilities may limit operational efficiency andadversely affect our business and financial condition.