Pooja Logistics Ltd.

Peer median P/E 14.2×, as printed in the filing.

• Customer Concentration · The company depends on a limited number of key customers for a majority of its revenues, exposing it to a high risk of customer concentration. A decrease in revenues from these customers could materially and adversely affect the business, results of operations, cash flows and financial condition.

• Industry Dependency · The company is highly dependent on the performance of the FMCG industry. A slowdown, regulatory changes, supply chain disruptions, or other adverse developments in this industry may reduce the demand for its services.

• Customer Retention · There is no guarantee that the company will retain the business of its existing customers or maintain the current level of business with each of these customers.

• Related Party Risk · The company has a subsidiary, Truckit India Private Limited, which is a related party.

• Related Party Risk · The company has significant related party transactions, including sales to the subsidiary Truckit India Private Limited, remuneration to directors, and rent/salary expenses payable to relatives of key managerial personnel.

• Related Party Risk · The company has significant related party balances outstanding at year end, including trade receivables from the subsidiary Truckit India Private Limited and director's remuneration payable.

• Regulatory Compliance · The company has not applied or received any exemptions from SEBI from complying with any provisions of securities laws.

• Corporate Actions · The company has not undertaken any split or consolidation of its equity shares in the one year preceding the date of this Draft Red Herring Prospectus.