Samay Project Services Ltd IPO

Strong Engineering and Technical Software and Design Team.

Good presence in multiple EPC Segments.

Existing relationship with clients.

Quality Assurance.

Experienced management team.

The company derived 63.06% and 84.26% & 62.34% and 87.14% of its revenue from its top five and top ten customers, respectively, for Fiscal 2025 and Fiscal 2024, and any inability to retain its key customers or attract new customers and expand its customer network, could negatively affect its business and results of operations.

There are outstanding litigations involving the Company and its Promoters which, if determined adversely, may affect its business and financial condition.

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

In respect of its governmental customers, projects are typically awarded to it on satisfaction of prescribed prequalification criteria and following a competitive bidding process. Its business and the company financial condition may be adversely affected if new EPC projects are not awarded to it or if orders awarded to the company is prematurely terminated.

The company derives majority of its revenues from limited number of government entities for the past 3 financial years. Any adverse changes in the central or state government policies may lead to its orders being foreclosed, terminated, restructured or renegotiated, which may have a material effect on its business and results of operations.

The Company in the usual course of Business does not have any long term contracts with its Customers and the company relies on purchase orders for delivery of EPC products and services. Loss of one or more of its orders or reduction in revenue derived from that orders, may adversely affect its Business, Results of Operations and Financial Condition.

Increases in the prices or its failures to obtain raw materials, parts and other materials required for the company operations could adversely affect its business and results of operations.

The company depends on its suppliers for raw materials, parts and other materials. Any interruption in the availability of raw materials, parts and other materials, or any disruption, breakdown or shutdown of its suppliers or any instability of its supplier base could adversely impact its operations.

The company source its majority of the raw materials from domestic market i.e. Chhattisgarh, Maharashtra, Tamil Nadu and Telangana and from International Markets i.e. China and Europe. Any adverse developments affecting its procurement in these regions could have an adverse impact on its revenue and results of operations.

The Restated Financial Statements have been provided by Peer Reviewed Chartered Accountants who is not Statutory Auditor of the Company.