Leading brokerage firm Kotak Securities has highlighted several concerns regarding the upcoming IPO of CMR Green Technologies.It is observed that the only listing in their DRHP that ticks all the boxes is the risk profile, which includes large past losses, projected loss in sales, lack of long-term business contracts and high reliance on a few customers.Furthermore, the company reported a profit of ₹104 crore in FY23, but followed it up with a massive loss of ₹838 crore in FY24, followed by a profit of ₹155 crore in FY25, and despite returning to profit, a total net loss of ₹579 crore over the three-year period.Market analysts say such sharp fluctuations raise concerns about the stability of earnings, projections and future cash flows – key considerations for IPO investors looking to protect their investments.
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