Technocrats Plasma Systems Ltd IPO

Design and development capabilities.

In-house manufacturing facility with integrated testing capabilities.

Recognition from customers.

Experienced Promoters with strong management team having domain knowledge

Substantial portion of the companys revenue from operations is from its top 10 customers (which accounted for62.61%, 83.89% and 55.70% of the companys total revenue from operations for the Fiscal Year ended March 31,2026, March 31, 2025 and March 31, 2024). Loss of any such customers or reduction in business ordemand from such customers will have a significant adverse impact on the companys business and results ofoperation.

The company is dependent upon few suppliers for the material requirements of its business. Further, the company does nothave definitive agreements or fixed terms of trade with most of its suppliers. Failures to successfullyleverage the companys relationships with existing suppliers or to identify new suppliers could adversely affect its business operations.

Any disruptions to the supply, or increases in the pricing, of the raw materials and finished products thatthe company procures, may adversely affect the supply and pricing of its products and, in turn, adversely affect the companys business, cash flows, financial condition and results of operations.

The companys revenue is significantly dependent on certain geographical regions, and any adverse developmentsin these regions could adversely impact its business, financial condition and results of operations.

The companys success is dependent on its relationship with the companys customers, and its does not, generally enter into longterm purchase contracts. This exposes it to risk emanating from the inability to retain the companys establishedcustomers as its clients.

If the company is unable to effectively manage or expand its sales and service network or pursue the companys growthstrategy, its business prospects, financial condition, and results of operations may be adversely affected.

The company requires certain approvals, licenses and permits for its operations, and failure to obtain or renew themin a timely manner may adversely affect the companys business.

The companys manufacturing operations is concentrated in Maharashtra, exposing it to regional and local risks.Any significant disruption in this region could materially and adversely affect the companys manufacturingoperations, business, financial condition, results of operations and cash flows.

The companys Statutory Auditor has included certain qualifications in the Annexure to the Auditors Report forfinancial statements pertaining to F.Y. 2022-23.

The companys net cash flows has been negative in some years in the past. Any negative cash flow in the future mayaffect its liquidity and financial condition.