Manpower shortage in EPC sector
Management acknowledged a shortage of technical manpower due to rapid scaling, which could impact execution capacity.
POWERANDINSTRUMENTATION / Q3-FY26 / risks
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Power and Instrumentation · Material risks, their source context, and severity in the latest available quarter.
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Material risks this quarter
medium
Input cost volatility (aluminium, copper)
Rising metal prices could pressure margins, though most contracts have price variation clauses.
Client concentration on government orders
Over 97% of order book is from government clients, posing concentration risk if government spending slows.
Execution risk in new manufacturing business
The Freebar busbar manufacturing is still in ramp-up phase; full-scale production expected only by May 2026.