Millworks Technologies Limited IPO

Experienced Promoters having deep domain knowledge to scale up the business.

Management team with an established track record.

Established track record of successfully completed orders.

Efficient operational team.

The companys revenues has exhibited significant fluctuations in the past and may continue to vary in the future, which may adversely affect its business, financial condition and results of operations.

The companys high level of trade receivables relative to its revenue from operations indicates elongated working capital cycles and exposes the company to collection risks, which may adversely affect its liquidity and financial condition.

A substantial portion of the Companys revenue for the period ended March 31, 2026 was derived from its first/top customer. Accordingly, any reduction, delay, or termination of business from such customer, or the loss of such customer for any reason, could materially and adversely affect the Companys revenues, profitability, financial condition.

Dependency on Certain Business Partners for Defense Sector Project Execution.

The Company has some instances of non-compliances and delayed compliances with some statutory provisions of the Companies Act 2013 and delayed compliance may attract penalties against the company which could impact the financial position of its to that extent.

The company is dependent on a few customers for a significant portion of its revenues. Further the company generally does not enter into long-term arrangements with its customers and any failures to continue the companys existing arrangements could adversely affect its business and results of operations.

The markets in which the companys customers compete is characterized by sectors specific to the industries which its cater to, and their rapidly changing preferences and other related factors including lower manufacturing costs. Accordingly, the company may be affected by any disruptions in the industry which can adversely impact its business, financial condition, results of operations, cash flows and prospects.

Any failures to compete effectively in the highly competitive global industry of high precision and critical components manufacturing could have a material adverse effect on the companys business, results of operations, financial condition, cash flows and future prospects.

The Company has negative cash flows during certain fiscal years in relation to its operating, investing and financing activities. Sustained negative cash flows in the future would adversely affect the companys results of operations and financial condition.

The companys business is working capital intensive. Any insufficient cash flows from its operations or inability to borrow to meet its working capital requirements, it may materially and adversely affect the companys business and results of operations.