Shivganga Drillers Ltd IPO

Diversified Service Portfolio and Market Adaptability.

Strong project execution capabilities and significant equipment base suited to diverse and challenging operating conditions.

Established Relationships with major upstream players resulting to strong order book.

Experienced Leadership and Skilled Workforce with focus on quality and high operating standards.

The company derives a significant portion of its revenue from a limited number of customers, primarily Sun Petrochemicals and a PSU engaged in the exploration and production of oil and gas, and any slowdown or loss of business from these key clients could materially and adversely affect the company's business, financial condition, cash flows and results of operations.

The company derives a substantial portion of its revenue from a single industry and a concentrated base of clients, with the company's top five customers contributing 97.98%, 99.57%, 99.77% and 99.78% of our revenue from operations for the quarter ended June 2025 and Fiscals 2025, 2024 and 2023, respectively, and our largest customer contributing 53.98%, 66.00%, 71.54% and 35.34% in the corresponding periods; any change in outsourcing trends or loss of key clients may materially and adversely affect its business, financial condition, cash flows and results of operations.

The company's business is directly affected by the demand for onshore drilling rigs and drilling services which in turn is directly related to the factors affecting E&P activities in the markets in which the company operates. Factors adversely affecting the E&P activities in these markets would adversely impact its business, revenues and financial condition.

Expiry of its existing contracts or termination of our contracts may adversely affect the company's results of operations and financial condition. Additionally, the company has not in the past but may in the future incur liquidated damages.