HD Fire Protect Limited

• to carry out the Offer for Sale of up to 26,284,500 Equity Shares of face value of ₹5 each by the Promoter Selling Shareholders aggregating up to ₹ [●] million
• achieve the benefits of listing the Equity Shares on the Stock Exchanges

Except as disclosed in this section, there are no outstanding criminal proceedings, all outstanding actions by statutory or regulatory authorities, outstanding claims related to direct and indirect taxes, other pending litigation involving the Company, Subsidiary, Directors and Promoters, or litigation involving Group Companies which have a material impact on the Company. There are no disciplinary actions by SEBI or a stock exchange against Promoters in the last five Fiscals, no criminal proceedings involving KMPs or Senior Management, and no pending actions by regulatory and statutory authorities against KMP or Senior Management. There are no pending litigation involving Group Companies which may have a material impact on the Company. There are no findings/observations of any inspections by SEBI or any other regulator involving the Company which are material.

• Any malfunction or failure of our fire protection equipment and systems could result in loss of life, property damage, invocation of warranties, legal claims, and reputational harm, which could adversely affect our business, financial condition, and results of operations.(Product Performance and Liability)

• We generated 32.78%, 34.69%, 36.24% and 33.33%, of our revenue from operations from outside India for the three months period ended June 30, 2026, and Fiscals 2026, 2025, and 2024, respectively. Any adverse changes in the conditions affecting the industries in global markets in which our products are supplied, including our key markets such as Middle East and Rest of Asia, could materially adversely affect our business, results of operations, financial condition, cash flows and future prospects.(Geographic Concentration)

• We are also required to obtain, maintain, and renew country specific approvals, registrations, and certifications both product specific such as UL Listing, FM Approval, CE Marking and region-specific such as CCCF Test Report carrying MA, CNAS and ILAC-MRA marks. The process of obtaining product certifications is inherently time-consuming and may be subject to delays arising from factors such as the need for technical clarifications, limited availability of testing facilities or approval laboratory slots, resource constraints within approval bodies, and changes in certification requirements imposed by regulatory authorities.(Regulatory Compliance)

• A product that performs well in one region may fail to generate traction in another, due to variations in fire safety norms, climate, end-use industries, price sensitivity, and customer preferences. Product acceptance varies across geographies, influenced by local regulatory frameworks and market preferences. For instance, AR-SFFF foam systems are mandated in certain markets where the use of fluorinated surfactants is being phased out or prohibited. Such regulatory requirements are not uniformly applicable across all regions.(Market Acceptance)

• The success of our products in different geographies remains inherently unpredictable. This unpredictability makes it difficult for us to plan capacity, inventory, marketing strategy, or revenue projections accurately across countries.(Market Acceptance)

• We are subject to several legal, regulatory, and compliance requirements across jurisdictions, including import-export regulations, local product certifications, and foreign currency controls.(Regulatory Compliance)

• Our customers, suppliers and we are subject to risks that are specific to each country in which we operate, as well as risks associated with carrying out business operations on an international scale.(Geographic Concentration)

• In the event of a product failure or performance shortfall, we may be contractually obligated to fulfil warranty obligations, which could result in financial liabilities. These may include the cost of product recalls, penalties for project delays, customer dissatisfaction, or third-party claims.(Product Performance and Liability)

Each bar is a fixed formula applied to the figures shown above, scored 0–100. This is a reading of what the company disclosed — not a recommendation to apply or avoid, not a price target, and not a prediction of listing performance. Dimensions that could not be extracted are excluded rather than assumed, so coverage varies between documents.

• HD Fire Protect Limited - Prospectus16 Oct 2026
• HD Fire Protect Ltd. - DRHP13 Oct 2026