Ardee Engineering Ltd IPO

Deep domain expertise backed by a demonstrable record of timely execution of customised large, complex projects including first of its kind projects.

Long standing relationships with marquee customer base.

Strong market presence in high growth pre-engineered buildings and material handling system business lines.

Strong backward integration supported by strong in-house design and engineering expertise.

A majority of our revenue from operations is from our top 5 customers (which accounted for more than 60% of our total revenue from operations in the six months ended September 30, 2024, Fiscal 2024, Fiscal 2023 and Fiscal 2022). Loss of any such customers or reduction in business or demand from such customers will have a significant adverse impact on our business and results of operation.

We depend on our PEB vertical for a significant portion of our revenues (50.20%, 50.11%, 40.87% and 71.78% of our revenue from operations in the six months ended September 30, 2024, Fiscal 2024, Fiscal 2023 and Fiscal 2022). Our inability to effectively supervise projects under our PEB vertical may lead to project delays which may adversely affect our business, results of operations, financial condition and cash flows.

We rely on the availability of steel and other raw materials, as well as third-party suppliers and manufacturers, for the uninterrupted supply of raw materials. We do not have continuing or exclusive arrangements with any supplier, and our top 10 suppliers contribute to more than 50% of our total raw material and supply costs. The loss of key suppliers or delays in raw material deliveries could adversely impact our business, financial condition, results of operations, and cash flows.

We have significant working capital requirements and if we experience insufficient cash flows or are unable to access suitable financing to meet working capital requirements, our business, financial condition and results of operations could be adversely affected.