Sahaj Solar

Well positioned solar PV module manufacturer in India to capture industry tailwinds and growth prospects for solar energy in India.

Diversified base of customers with a large order book.

Advanced manufacturing facilities with global accreditations.

Extensive pan-India retail network.

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

Well versed and equipped with advance technology.

Quality Assurance & Control.

The Company had advanced a loan to a body corporate where the directors of the Company were interested, in the past, which may attract the penalties or regulatory actions.

Its Registered Office from where the company operates is not owned by it.

The Company is dependent on few numbers of customers for sales. Loss of any of this large customer may affect its revenues and profitability.

The company highly depends on its major raw materials and a few key suppliers who help it procure the same. The Company has not entered into long-term agreements with its suppliers for supply of raw materials. In the event the company is unable to procure adequate amounts of raw materials, at competitive prices its business, results of operations and financial condition may be adversely affected.

The company has only one Manufacturing Facility, continued operations of its manufacturing facility is critical to its business and any disruption in the operation of the company`s manufacturing facility may have a material adverse effect on its business, results of operations and financial condition.

Its failures to perform in accordance with the standards prescribed in work order of its client could result in loss of business or payment of liquidated damages.

The company conduct its business activities on a purchase order basis and therefore, have not entered into long-term agreements with its customers.

The company is engaged in assembling of solar water pumping system and customers receives subsidy from State/Central Government. Any reduction or discontinuation of such subsidy will results in reduction in number of potential consumers.

Its business activities are exposed to fluctuations in the prices of raw materials.

The company has experienced negative cash flows in the past. Any such negative cash flows in the future could affect its business, results of operations and prospects.

If the company is experience insufficient cash flows from its operations or are unable to borrow to meet the company working capital requirements, it may materially and adversely affect its business, results of operations and cash flows.

The Company has received a notice from MSME Commissionerate for the delayed payments under MSMED Act, 2006.

The company had certain inaccuracy in relation to regulatory filings to be made with the RoC and the company has made non-compliances of certain provision under applicable laws.

Its Promoter Pramit Bharatkumar Brahmbhatt plays a key role in the company functioning and its heavily relies on his knowledge and experience in operating its business and therefore, it is critical for the company`s business that its promoter remain associated with the company.

The outstanding orders in its order book may be delayed, modified or cancelled which may have an adverse impact on its business, results of operations and cash flows.

The company is exposed to credit risk from its customers and the recoverability of the company trade receivables is subject to uncertainties.

Its Restated Financial Information for the relevant financial reporting periods are not comparable on account of certain acquisitions and divestments made by the Company in the relevant financial reporting periods.

Improper storage, processing and handling of materials and products may cause damage to its inventory leading to an adverse effect on the company`s business, results of operations and cash flows.

The company has certain contingent liabilities that have been disclosed in its financial statements, which if they materialize, may adversely affect its results of operations, cash flows and financial condition.

The Company derives a significant portion of revenue from solar pumping systems and any reduction in the production of such products could have an adverse effect on the business, results of operations and financial condition.

Its funding requirements and the proposed deployment of Net Proceeds have not been appraised by any bank or financial institution or any other independent agency and its management will have broad discretion over the use of the Net Proceeds.

The company has entered into, and will continue to enter into, related party transactions that may involve conflicts of interest.

The company faces competition in its business from domestic competitors. Such competition would have an adverse impact on its business and financial performance.

Any adverse change in regulations governing its products and the products of the company customers, may adversely impact its business prospects and results of operations.

The Company has availed Rs. 450.19 lakhs as unsecured loan as on March 31, 2024, which are repayable on demand. Any demand from the lenders for repayment of such unsecured loan may affect its cash flow and financial condition.

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 depends on its management team and other personnel with technical expertise, and if the company is unable to recruit and retain qualified and skilled personnel, its business and the company ability to operates or grow its business may be adversely affected.

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

There is no monitoring agency appointed by the Company and the deployment of funds are at the discretion of its Management and the company Board of Directors, though it shall be monitored by its Audit Committee.

If the company fails to maintain an effective system of internal controls, its may not be able to successfully manage or accurately report its financial risks.

Some of the KMPs are associated with the company for less than one year.