Shah Investor's Home Ltd.;

• Funding working capital requirements of our Company₹60.0 Cr
• General corporate purposes

There are no outstanding criminal proceedings, statutory/ regulatory actions, SEBI disciplinary actions, or outstanding tax claims. Any pending civil litigation/arbitration involving the Relevant Parties where the monetary impact is not quantifiable or does not exceed the threshold (₹90.96 lakhs) is considered 'material' and disclosed if the outcome could have a material adverse effect on the business, performance, prospects, operations, financial position or reputation of the Company. Pre-litigation notices from third parties are not considered outstanding litigation until the Relevant Parties are impleaded as parties.

• A significant portion of revenue is derived from Gujarat (93.74%, 93.30%, and 93.53% for Fiscals 2026, 2025 and 2024 respectively). Any decrease in revenues from western India, including due to increased competition or supply, or reduction in demand, may have an adverse effect on the business, cash flows, results of operation and financial condition.(Geographic Concentration)

• The broking segment contributes 64.78%, 68.90%, and 71.60% of revenue for the Fiscals 2026, 2025 and 2024, respectively. Any reduction in revenue from the broking segment could have a material adverse effect on the business, results of operations, cash flows and financial condition.(Business Concentration)

• Brokerage income is directly proportionate to the traded value and order size. The number of orders and trading volume are affected by external factors beyond control such as general macroeconomic conditions, monetary and taxation policies, prevailing market conditions, fluctuation in interest rates, and inflation.(Macroeconomic Sensitivity)

• There is constant pressure on brokerage yields in the securities industry. If competitors provide better services, lower margins, better rates of interest on margin trading facility, or more appealing products, clients may migrate to them, hindering the ability to retain and attract new clients.(Competition)

• The brokerage fee levels are primarily driven by the competitive landscape. If increased competition forces the company to provide additional products and services or lower brokerage fees to attract clients, it could adversely affect the Broking Segment.(Competition)

• The company plans to expand into other states. However, it cannot assure that these initiatives (marketing campaigns, opening new branches, creating a network of authorised persons, referral schemes) will yield the expected growth or be successful.(Expansion Strategy)

• The company is subject to extensive statutory and regulatory requirements and supervision by authorities such as SEBI, MCX, AMFI, APMI, NSDL and Stock Exchanges. Any failure to comply with applicable law or changes in the regulatory framework could result in action being initiated by relevant authorities.(Regulatory)

• The company is subject to regulatory limits on brokerage fee rates and net worth requirements imposed by the exchanges.(Regulatory)

• Shah Investor's Home Limited - RHP23 Sept 2026