This throws some light on the recent history of the company:
No prior experience in the products they are currently in; parent company’s financial health is also a concern.
Company started earning revenues only from 2021, and not cooperating with credit rating agencies (a major red flag for me)
https://www.crisilratings.com/mnt/winshare/Ratings/RatingList/RatingDocs/PolymatechElectronicsPrivateLimited_March%2030,%202023_RR_316143.html
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