Kwick Forensic Solutions Ltd IPO

Experienced Promoter and management team with strong industry expertise and successful track record.

Diversified revenue streams.

Deep relationships with government/law-enforcement clients.

Long-standing OEM relationships.

Pan-India presence.

Highly passionate & focused on Quality Assurance, backed by ISO certifications.

Efficient operational team.

The companys products and services are significantly concentrated in the certain states, particularly Bihar and Gujarat. Any adverse developments in these regions may materially impact its business, financial condition, results of operations, and cash flows.

The company does not have long-term agreements with a majority of its customers. Any changes or cancellations to its orders or the companys inability to forecast demand for its products may adversely affect the companys business, results of operations and financial condition.

The company derives majority of its revenue from Sales of Goods and Sales of Services and any reduction in the demand of such segment could have an adverse effect on the companys business, results of operations and financial conditions.

The average cost of acquisition of Equity Shares by the companys Promoters Selling Shareholders could be lower than the Offer price determined in consultation with Book Running Lead Manager in accordance with the SEBI ICDR Regulations.

Any delays in filing Advance Tax, EPF, GST returns, TDS Return may lead to regulatory penalties and may have an adverse impact on the companys financial and operational performance.

The company is dependent on a limited number of suppliers for procurement of its raw materials, and the loss of any one or more of the companys major suppliers would have a material adverse effect on its business operations and profitability.

There have been instances in the past where the companys forensic product activities were not being aligned with the main object clause of its Memorandum of Association.

The company sources its products from the international market i.e., China, USA, Turkey, Japan, Italy etc. Any adverse developments affecting its procurement in this region could materially and adversely impact the companys revenue and results of operations.

The Company has negative cash flows in the past years, details of which are given below. Sustained negative cash flow could impact its growth and business.

The company drives 55.22%, 78.91% and 86.98%, in FY 2026, 2025 and 2024 revenue from business transactions with government entities or agencies. Any change in the governments in the markets in which the company operates, change in policies and/or its inability to recover payments therefrom in a timely manner or at all, would adversely affect the companys operations and revenues which in turn would adversely affect its profitability.