Severeconcentrationpage 25
Top 5 customers account for over 70% of revenue
We derive more than 70% of our revenue from operations from the sale of products to our top Five customers during the last 3 fiscal years.
2 days leftSMEEngineeringPPEL
Poojaa Precision Engg IPO
Poojaa Precision Engg IPO is a sme IPO raising ₹160 Cr at ₹285 – ₹301 a share. The smallest application you can make is 400 shares, costing ₹1,20,400 at the top of the band. Bidding closes on 30 Jul 2026 and the shares list on 4 Aug 2026. So far it has been subscribed 0.00× in total.
₹285 – ₹301
Price band
₹1,20,400
Minimum to apply (400 shares)
₹160 Cr
Issue size
30 Jul 2026
Bidding closes
0.00×Subscribed · all exchanges
No bids yet
populated partly populated we hold nothing here — the tab says why
What the prospectus says could go wrong
Read from the 374-page prospectus. Indian prospectuses list hundreds of risk factors, most of them generic boilerplate. These are the 14 specific to this company; 43 generic ones were skipped. Every one is quoted verbatim with its page, so you can check it against the document.
Severepromoterpage 29
Promoter and senior manager on past disqualified directors list
The name of one of our Promoters and Non-Executive Director, Vaishali Dakshendra Agrawal and one of our Senior Management Personnel, Shekhar Sharadchandra Dravid have appeared in the list of disqualified directors in the past.
Severeregulatorypage 30
Company unable to trace key historical ROC filings
We do not possess some of the prescribed forms filed with the Registrar of Companies, Pune, Maharashtra, particularly relating to forms filed, inter alia, in respect of allotments of equity shares, increase in authorized share capital, appointment of statutory auditor, change in registered office, appointment of directors, filing of financial statements etc.
Severeregulatorypage 32
Repeated non-compliance with Companies Act sec 123(4)
Our Company has failed to comply with provisions of section 123(4) of the Companies Act, 2013 which require the amount of dividend declared to be deposited in a scheduled bank in a separate account within five days from the date of declaration, for the financial years 2021-22, 2022-23, 2023-24 and 2024-25.
Severefinancialpage 38
IPO proceeds deployment risk: only 28.63% of machinery ordered
As on date, we have placed orders aggregating to ₹3161.16 lakhs, representing approximately 28.63% of the proposed capital expenditure against which an advance payment of ₹2284.41 lakhs has been made. The balance machinery and equipment are yet to be ordered.
Severeconcentrationpage 38
Geographic concentration: Maharashtra is 60.64% of revenue
Maharashtra 17,818.29 60.64% ... Due to the geographic concentration of our operations in certain states in India, our operations are susceptible to local and regional factors
Highpromoterpage 43
Non-original promoters hold 82.63% with no industry experience
Our Corporate Promoter and some of our individual promoters namely Rahul Sohanlal Ranka, Vaishali Dakshendra Agrawal, Dakshendra Brijballabh Agrawal and Bhavya Dakshendra Agrawal are not the original promoters of our company... they collectively hold 82.63% of the equity share capital... our promoter, Dakshendra Brijballabh Agrawal and Bhavya Dakshendra Agrawal do not have prior experience in our line of business
Highlitigationpage 42
Legal proceedings against promoters aggregating Rs. 18.8 Cr
Our Company is party to certain legal proceedings... Against the Promoters 1 12 2 1880.39
Highconcentrationpage 27
Over 72% of revenue tied to cyclical automotive sector
A significant portion of our revenue from operations in each of the last three Fiscals is attributable to the automotive sector.
Highoperationalpage 26
Aluminium dominates raw materials with unhedged price risk
The majority of the raw material that we consume comprises Aluminium which is subject to fluctuation in commodity prices.
Highoperationalpage 28
New magnesium casting venture entered without prior experience
As we have limited prior experience in magnesium casting, we may face risks relating to technology stabilisation, process optimisation, quality control, raw material sourcing, skilled manpower availability and customer acceptance.
Highpromoterpage 42
Promoter personal guarantees contingent on company borrowings
Some of our Promoters namely Anil Shivajirao Kulkarni, Rahul Sohanlal Ranka, Sanket Anil Kulkarni and Jayshree Anil Kulkarni have provided personal guarantees in respect of certain borrowings availed by our Company. Such guarantees are contingent liabilities of our Promoters and may be invoked by the respective lenders in the event of any default
Highfinancialpage 42
Trade receivables rising sharply as share of revenue
our trade receivables amounted to Rs. 5181.59 lakhs, Rs.3548.11 lakhs and, Rs.1989.15 lakhs, respectively, representing 17.63%, 15.98 % and 11.45% of our revenues from operations for the respective periods
Highregulatorypage 46
Repeated delays in PF, ESI, GST, TDS and Professional Tax filings
our Company has faced challenges in adhering to various statutory provisions, spanning key regulations such as the Goods and Services Tax Act, the Employees Provident Fund and the Employees State Insurance Act... delays primarily manifested in areas such as the depositing of GST amounts, provident fund contributions
Extracted from the issuer’s own prospectus and ranked by how specific and material each risk is to this company. Severity is our assessment of the disclosure, not a prediction — and nothing here is a recommendation to apply to this issue.
What’s in court
The issuer’s own summary of outstanding legal proceedings — SEBI requires this table in every prospectus. Counts and amounts are as disclosed; the disclosed aggregate at stake is ₹22 Cr.
| Against | Criminal | Tax | Other material | Amount at stake |
|---|---|---|---|---|
| The company | 0 | 2 | 1 | ₹0.1 Cr |
| Promoters | 1 | 12 | 2 | ₹19 Cr |
| Directors | 2 | 2 | 0 | ₹1.1 Cr |
| Group companies | 0 | 1 | 1 | ₹2.0 Cr |
case₹11 Crpage 276
Matushree Real Estate Developers Pvt Ltd vs Gauri Land Developers LLP & Bhavya Financial Services Pvt Ltd & Ors — Contempt Petition (CONP/15/2025) before Bombay High Court alleging non-compliance with consent terms; ₹1052.00 lakhs in unpaid instalments
case₹7.8 Crpage 275
Santosh Poddar & Ors vs Bhavya Financial Services Pvt Ltd & Ors — Contempt Petition (CONP/45/2025) before Bombay High Court for alleged breach of undertakings re 40% commission on 'Gauri Excellency' project; ₹775.80 lakhs
case₹2.0 Crpage 280
G K Founders Pvt Ltd (Group Company) — GST demand of ₹197.61 lakhs (Form GST DRC-01C) for ITC mismatch between GSTR-3B and GSTR-2B for tax period Nov 2024
case₹0.8 Crpage 278
Gautam Pradyot Doshi (Director) vs Deron Properties Pvt Ltd & Ors — Criminal Misc Application (No. 1014/2021) alleging fraud/cheating for non-completion and non-refund of advance of ₹78.00 lakhs (out of ₹125 lakhs total) for 3 commercial offices
casepage 280
G.K. Founders Pvt Ltd (Group Company) vs Maharashtra Pollution Control Board — Writ Petition (WP/9254/2023) before Bombay High Court challenging closure order u/s 33A Water Act / 31A Air Act; amount not stated
All amounts originally stated in Rs lakhs have been converted to Rs crore (1 crore = 100 lakhs). The 12 promoter-bucket tax cases include direct/indirect tax matters for individuals labelled 'Director' in the body text (Anil Kulkarni, Rahul Ranka, Sanket Kulkarni, Vaishali Agarwal) but listed within the 'Litigations involving the Promoters' section. Company's Motor Vehicles challan matter (Section A(e)) and Group company's Writ Petition (Section D(f)(I)) have amounts marked '-' / not stated and are excluded from aggregate amounts. Grand total of ₹21.96 crore is computed from stated amounts only; the prospectus does not state a single explicit grand total. No subsidiaries are disclosed in this section.. Outstanding means unresolved — a listed case is an exposure, not a verdict.
Source documents
What the issuer and the exchanges published. Everything else on this tab is read out of these.