Pragyawan Technologies Ltd IPO

As per the F&S Report, we are one of the largest suppliers of customized toolkits for multiple trades under PMVY as on December 31, 2025.

Pan-India operational presence supported by an established supply chain, infrastructure and localised workforce.

Track record of growth in financial performance supported by proven execution capabilities.

Asset light business model enabling capital efficiency and operational flexibility.

We have maintained longstanding relationships with our customers and revenue generated from our top ten customers amounted to 99.99%, 99.43%, 100.00% and 99.28% of our Revenue from Operations for nine months period ended December 31, 2025, and Fiscals 2025, 2024 and 2023, respectively. Any loss of such customers or reduction in business or demand from such customers may adversely affect our business, results of operations, financial condition and cash flows.

Our revenues are generated from a diversified mix of customers comprising Central/State Government, public sector undertakings, private sector customers across both our verticals. Further, revenues from these verticals have fluctuated historically and may continue to fluctuate, and our inability to secure new projects or any slowdown or downturn in either vertical could adversely affect our business, financial condition and results of operations.

Our Revenue from Operations have grown at a CAGR of 131.07% between Fiscal 2023 and Fiscal 2025. However, such historical growth rates may not be indicative of our future performance, and there can be no assurance that similar levels of growth will continue, which may adversely affect our business, results of operations, and financial condition.

While our Order Book has grown over last few years, the orders may be delayed, modified, cancelled or not fully paid by our customers, which could adversely affect our business, results of operations and financial condition.