Master Chains N Jewels Limited

• Funding working capital requirements of our Company₹3.50k Cr
• General Corporate Purposes

Except as stated in this section, there are no outstanding criminal proceedings (including first information reports) involving the Company, Promoters or Directors; actions by statutory or regulatory authorities involving the Relevant Parties; disciplinary actions including penalty imposed by the SEBI or Stock Exchanges against the Promoters in the last five Financial Years; claims involving the Relevant Parties for any direct or indirect tax liabilities; or proceedings involving the Relevant Parties determined to be 'material' by the Board. There are also no outstanding criminal proceedings and actions by regulatory or statutory authorities involving Key Managerial Personnel and the Senior Management.

• A significant portion of our business operations and revenue generation is concentrated in the western and southern India, which accounted for ₹13,097.97 million, ₹10,710.56 million and ₹8,630.10 million representing 77.94%, 70.83% and 67.81% of our revenue from operations in Fiscals 2026, 2025 and 2024, respectively.(Geographic Concentration)

• Our top 10 customers accounted for ₹4,838.39 million, ₹4,851.26 million and ₹3,795.09 million representing 28.79%, 32.08% and 29.82% of our revenue from operations for Fiscals 2026, 2025 and 2024, respectively.(Customer Concentration)

• We do not have any long-term contracts with our customers and any loss of one or more of our top customers, or the deterioration of their financial condition or prospects, or a reduction in their demand for our products, could adversely affect our business, results of operations, financial condition and cash flows.(Customer Concentration)

• We operate under a relationship-driven wholesale model, and a significant portion of our revenue from operations is derived from a limited number of customers, including several jewellery businesses, single-store and multi-store retailers, and wholesale jewellers.(Customer Concentration)

• A significant disruption in business from such top customers in the event that any of these customers reduce their order volumes, delay payments, or terminate their relationship with us, whether due to circumstances specific to such customer or adverse market conditions or the economic environment generally, may materially and adversely affect our business, results of operations and financial condition.(Customer Concentration)

• Our revenue from operations is also concentrated in certain states, particularly Maharashtra, Karnataka, Telangana, Gujarat and Tamil Nadu. Maharashtra accounted for approximately 40.43%, 31.17% and 26.78% of our revenue from operations in Fiscal 2026, Fiscal 2025 and Fiscal 2024, respectively.(Geographic Concentration)

• Cancellation by customers or delay or reduction in their orders or instances where anticipated orders fail to materialize can result in mismatch between our inventories of raw materials and of manufactured products, thereby increasing our inventory costs, which may adversely affect our profitability and liquidity.(Inventory Management)

• We have faced certain instances of delays in payments from our clients in the last three financial years, we cannot assure you that we will not have any such incidences in future.(Credit Risk)

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.