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Further, certain of our facilities are located near our OEM customers’ plants. In the event of a shutdown
of the OEM plants, our cost of relocation or supply may adversely impact our business, financial
condition and results of operations.

We may incur costs on account of relocating our manufacturing facilities in close proximity to the
facilities of our OEM customers

To serve our OEM customers effectively, we currently have certain manufacturing facilities which are
located in close proximity to our customers’ facilities. Each of these facilities is located near the plants
of the respective OEM customers that it caters to. If any of our customers’ facilities are moved from their
current locations or shut down, we would incur costs associated with relocating our manufacturing
facilities. Our contracts with our customers do not provide for compensation upon the occurrence of such
events. In addition, expansion to meet our growth requirements is limited by availability of land and
other location issues in certain of our existing manufacturing facilities. We are, and will continue to
evaluate various location options for our expansion plans. We may also have to incur capital expenditure
to meet such requirements. Costs associated with such changes may have an adverse effect on our
business, cash flows, financial condition, and results of operations.

We have entered into transactions with related parties. These or any future related party transactions
may potentially involve conflicts of interest and there can be no assurance that we could not have
achieved better terms, had such arrangements been entered into with unrelated parties.

We have entered into various transactions with related parties, including for purchase of goods and
services, sale of goods and services, from time to time. We cannot assure you that we could not have
achieved more favourable terms had such transactions been entered into with unrelated parties. It is likely
that we may enter into related party transactions in the future. Although going forward, all material
related party transactions that we may enter into, will be subject to the Board’s or Shareholders’ approval,
as necessary under the Companies Act 2013 and the SEBI Listing Regulations, there can be no assurance
that such transactions, individually or in the aggregate, will not have an adverse effect on our financial
condition and results of operations or that we could not have achieved more favourable terms if such
transactions had not been entered into with related parties. Such related party transactions may potentially
involve conflicts of interest. See “Financial Statements — Restated Financial Information — Annexure
VII —Note No. 43 — Related Party Transactions” on page 276. These related party transactions entered
into by us, were in compliance with the Companies Act.

We assure that all related party transactions of our Company shall be conducted in compliance with the
applicable accounting standards, provisions of Companies Act, 2013, as amended, provisions of the SEBI
Listing Regulations and other applicable law. Further, while we shall endeavour to not enter into related
party transactions which are against our interests and the interests of minority Shareholders, we cannot
assure you that such transactions, if undertaken, individually or in the aggregate, will not have an adverse
effect on our business, results of operations, financial condition and cash flows. We cannot assure you
that related party transactions could not have been made on more favourable terms with unrelated parties.
Further, there is no assurance that our related party transactions in future would be on terms favourable
to us when compared to similar transactions with unrelated or third parties or that our related party
transactions, individually or in the aggregate, will not have an adverse effect on our financial condition.

Our insurance coverage may not be adequate to protect us against all material risks. In the event of
the occurrence of such events, our insurance coverage may not adequately protect us against a
possible risk of loss.

Our principal types of coverage include among others, protection from fire, marine protection, special
perils, burglary, product liability and employee insurance policies such as group personal accident policy.
We cannot assure you that any claim under the insurance policies maintained by us will be honoured
fully, in part or on time, or that we have taken out sufficient insurance to cover all our losses. In addition,
our insurance coverage expires from time to time. We apply for the renewal of our insurance coverage
in the normal course of our business, but we cannot assure you that such renewals will be granted in a
timely manner, at acceptable cost or at all. Additionally, in future, we may be required to bear increased
premiums for our insurance to provide coverage for pandemics such as COVID-19. Our total insurance
coverage was % 29,064.88 million, which covers 100% of our total assets, as of December 31, 2020.

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