Aluwind

Organic Growth.

Brownfield Expansion.

Tie-up with World-renowned Vendors.

Expansion of Eternia Brand.

Geographical Expansion.

Product Expansion.

Marketing Strategy.

The Company and Promoter of the Company are parties to certain litigation and claims. These legal proceedings are pending at different levels of adjudication before the court and regulatory authority. Any adverse decision may make it liable to liabilities/penalties and may adversely affect its reputation, business, and financial status.

Its business requires the services of third parties, including suppliers and subcontractors, which entail certain risks.

Its projects are typically awarded to the company on satisfaction of prescribed pre-qualification criteria and following a competitive bidding process. Its business and the company financial condition may be adversely affected if new projects are not awarded to the company.

Increase in costs or a shortfall in availability of the materials the company purchase could have a material adverse effect on the Company`s sales, profitability and results of operations.

The nature of its business exposes the company to liability claims and contract disputes and its indemnities may not adequately protect it. Any liability in excess of its reserves or indemnities could result in additional costs, which would reduce its profits.

The company results of operations and cash flows could be adversely affected, if the company is unable to collect its dues and receivables from, or invoice its unbilled services to, the company clients.

Its pricing structures does not accurately anticipate the cost and complexity of performing its work and if the company is unable to manage costs successfully, then certain of its contracts could be or become unprofitable.

Failure to anticipate and develop new products & services and enhance existing execution capabilities in order to keep pace with rapid changes in technology and industry may suffer its business.

The company has certain contingent liabilities that have not been provided for in the Company`s financials which if materialised, could adversely affect its financial condition.

Within the parameters as mentioned in the chapter titled `objects of this Issue` beginning on page 74 of this Prospectus, the Company`s management will have flexibility in applying the proceeds of this Issue. The fund requirement and deployment mentioned in the Objects of this Issue have not been appraised by any bank or financial institution.

The company generate its major portion of sales from the company operations in certain geographical regions especially Maharashtra. Any adverse developments affecting its operations in these regions could have an adverse impact on the company revenue and results of operations.

There are certain discrepancies in some of its corporate records relating to forms filed with the Registrar of Companies.

The company does not own the land on which its Pune office is located.

The Company has negative cash flows from its operating activities, investing activities as well as financing activities in the past years, details of which are given below. Sustained negative cash flow could impact its growth and business.

The Company requires significant amounts of working capital for a continued growth. Its inability to meet the company working capital requirements may have an adverse effect on its results of operations.

Its business is subject to seasonal and other fluctuations that may affect the company financial performance and business operations.

Its industry is labour intensive and the company`s business operations may be materially adversely affected by strikes, work stoppages or increased wage demands by its employees or those of the company suppliers.

At present its manufacturing facility is not fully automated. Further any disruption in production at, or shutdown of, its manufacturing facility could adversely affect the company`s business, results of operations and financial condition.

The company requires a number of approvals, NOCs, licences, registrations and permits in the ordinary course of its business. Some of the approvals are required to be transferred in the name of "Aluwind Architectural Limited" from "Aluwind Architectural Private Limited" pursuant to name change of the company and any failure or delay in obtaining the same in a timely manner may adversely affect its operations.

The company depends on certain brand names and its corporate name and logo that the company may not be able to protect and/or maintain. The company has a logo which is used for its business purpose.

Its revenues have been significantly dependent on few customers and its inability to maintain such business may have an adverse effect on the company`s results of operations.

The Company has synergistic collaboration with Eternia (a brand of Hindalco Industries Limited). If the company is unable to take benefit of such synergies or renew the said agreement, its may have to acquire the same product from the market at competitive rates thus affecting its margins which may impact the results of the company operation. However, the Company because of its long market standing has the possibilities of collaborating with other market players.

Any slowdown in the real estate sector in India could significantly decrease the demand for its products.

Any delay in completion of civil structure by the principal contractor or third parties involved or the customer could result in delay of its project execution and consequently affect the company`s business operations.

The company has in the past entered into related party transactions and may continue to do so in the future.

Compliance with, and changes in, safety, health and environmental laws and regulations may adversely affect its business, prospects, financial condition and results of operations.

If the company is unable to source business opportunities effectively, its may not achieve the company financial objectives.

Its insurance coverage may not be adequate.

The industry segments in which the company operate being fragmented, its faces competition from other players, which may affect the company`s business operations and financial conditions.

Failure or disruption of its IT and/or business resource planning systems may adversely affect the company`s business, financial condition, results of operations, cash flows and prospects.

If the company fail to maintain and enhance its brand and reputation, the company clients` recognition of, and trust in it, and its business may be materially and adversely affected.

Its operations are subject to accidents and other risks and could expose it to material liabilities, loss in revenues and increased expenses. Further glass being a fragile commodity is also susceptible to breakages.

If the company is unable to manage its growth or execute its strategies effectively, the company`s business and prospects may be materially and adversely affected.

The Company has no formal supply agreement or contract with its vendors/suppliers for the uninterrupted supply of major materials. Its business may be adversely affected if there is any disruption in the material supply.

The Company is dependent on vendors/suppliers providers for the delivery of its input materials and products and any disruption in their operations or a decrease in the quality of their services could affect the Company`s reputation and results of operations.

Its lenders have imposed certain restrictive conditions on the company under its financing arrangements.

The Company has unsecured loans which are repayable on demand. Any demand loan from lenders for repayment of such unsecured loans, may adversely affect its cash flows.

Its lenders have charge over the company movable and immovable properties in respect of finance availed by it.

The company has not made any alternate arrangements for meeting its working capital requirements for the Objects of the issue. Further the company has not identified any alternate source of financing the `objects of the Issue`. Any shortfall in raising / meeting the same could adversely affect its operations and financial performance.

Its ability to pay dividends in the future will depends upon the company future earnings, financial condition, cash flows, working capital requirements, capital expenditure and restrictive covenants in its financing arrangements.

The deployment of funds raised through this Issue shall not be subject to any Monitoring Agency and shall be purely dependent on the discretion of the management of the Company.

Its future funds requirements, in the form of issue of capital or securities and/or loans taken by the company, may be prejudicial to the interest of the shareholders depending upon the terms on which they are eventually raised.

Its success depends largely upon the services of the company`s Directors, Promoters and other Key Managerial Personnel and its ability to attract and retain them. Demand for Key Managerial Personnel in the industry is intense and its inability to attract and retain Key Managerial Personnel may affect the operations of the Company.

In addition to normal remuneration or benefits and reimbursement of expenses, some of its Directors and key managerial personnel are interested in the Company to the extent of their shareholding, as lenders and dividend entitlement in the Company.

Its Promoters and members of the Promoter Group will continue jointly to retain majority control over the Company after the Issue, which will allow them to determine the outcome of matters submitted to shareholders for approval.

The company could be harmed by employee misconduct or errors that are difficult to detect and any such incidences could adversely affect its financial condition, results of operations and reputation.

The average cost of acquisition of Equity Shares by its Promoters could be lower than the issue price.

The Issue price of its Equity Shares may not be indicative of the market price of its Equity Shares after the Issue and the market price of the company Equity Shares may decline below the issue price and you may not be able to sell your Equity Shares at or above the Issue Price.

Any future issuance of Equity Shares, or convertible securities or other equity linked securities by its may dilute your shareholding and any sale of Equity Shares by its Promoters or members of the company Promoter Group may adversely affect the trading price of the Equity Shares.

Fluctuation in the exchange rate between the Indian Rupee and foreign currencies may have an adverse effect on the value of its Equity Shares, independent of the company operating results.

QIBs and Non-Institutional Investors are not permitted to withdraw or lower their Bids (in terms of quantity of Equity Shares or the Bid Amount) at any stage after submitting a Bid.