₹18 Cr PAT? Great. Negative cash flow? Big problem. Over 80% revenue from just 10 clients? Risky. The company’s IPO opens Aug 28, 2026; but before you invest, ask: Can profits without cash really sustain growth? Their exclusive deal with Brunswick (50% of revenue) is a strength; and a weakness. One lost contract = major impact. They’re launching their own bowling bistro, ‘Duckpin’, to reduce reliance on B2B clients; smart move. But will it work fast enough? Investors are watching for the price band; and hoping the final RHP explains how they’ll fix the cash flow gap. Don’t get fooled by the shiny PAT number. Follow the real money: cash flow. Because in business, profit is opinion; cash is truth.