Liqvd Digital India Ltd.

• Funding of purchase consideration for acquisition of 23.21% stake in AdLift Marketing Private Limited₹9.0 Cr
• Funding capital expenditure, operating expenditure and other expenditure to be incurred for establishment of a Full Scale Video Content Production Hub (Full Scale VCP Hub)₹10.6 Cr
• Funding our incremental working capital requirements₹6.6 Cr
• Funding inorganic growth through unidentified acquisitions and general corporate purposes

• The Company derives a material portion of its revenue from its Corporate Promoter, Concept Communication Limited, which accounted for 12.62% of consolidated revenue in Fiscal 2026, 44.12% in Fiscal 2025, and 14.48% in Fiscal 2024. If Concept Communication were to suffer a deterioration of its business, cease doing business with us, or substantially reduce its dealings with us, the Company's revenues could decline, which may have a material adverse effect on its business, results of operations, cash flows and financial condition.(Customer Concentration)

• The Company derives a material portion of its revenue from its top 10 clients, which accounted for 52.12% of revenue in Fiscal 2026, 85.95% in Fiscal 2025, and 73.46% in Fiscal 2024. If any or all of these Top 10 Clients were to suffer a deterioration of their business, cease doing business with us or substantially reduce their dealings with us, the Company's revenues could decline, which may have a material adverse effect on its business, results of operations, cash flows and financial condition.(Customer Concentration)

• The Company's Registered Office is situated in Maharashtra, and it derives a significant portion of its revenue from the state of Maharashtra, which accounted for 29.58% of revenue in Fiscal 2026, 80.82% in Fiscal 2025, and 70.80% in Fiscal 2024. Any adverse developments affecting its operations in Maharashtra could have an adverse impact on its revenue and results of operations.(Geographic Concentration)

• The Company has had negative cash flows from operating activities in Fiscal 2025 (₹ (45.95) lakhs) and negative cash flows from investing activities in Fiscal 2026 (₹ (1,264.50) lakhs) and Fiscal 2025 (₹ (54.61) lakhs). Negative cash flows over extended periods, or significant negative cash flows in the short term, could materially impact the Company's ability to operate its business and implement its growth plans.(Liquidity)

• The Company's negative cash flow from investing activities in Fiscal 2026 was primarily attributable to the payment of ₹1,400 lakhs towards the acquisition of AdLift. The equity funds raised for this acquisition were received at the end of the previous fiscal year. The Company's ability to manage such significant capital expenditures and acquisitions is critical to its financial health.(Liquidity)

• In Fiscal 2025, the Company's negative cash flow from operating activities was primarily due to increasing working capital requirements, specifically an increase in trades receivables of ₹285.42 lakhs. This increase was in line with increasing revenue from operations. A sustained increase in working capital requirements could strain the Company's liquidity.(Liquidity)

• The Company's negative cash flow from financing activities in Fiscal 2026 was primarily due to repayment of certain borrowings and interest cost on the borrowings. The Company's ability to service its debt obligations is a key factor in its financial stability.(Liquidity)

• The Company's business is currently concentrated among a limited number of significant customers. The Company may experience reduction in cash flows and liquidity if it loses one or more of its major customers or if the amount of business from one or more of them is significantly reduced for any reason, including as a result of a dispute with or disqualification by a major customer.(Customer Concentration)

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.