Synopsis
Sometimes, it’s the quiet ones you need to watch. This company spotted the EV shift in 2010, long before it was trendy, and has built a full-stack offering. Its latest EV tie-ups, including one that jacks up kit value to levels considered high in the industry, are a sign of how deep the EV play runs. With exports making up 9% of revenue and 700+ aftermarket dealers in India, it’s not just riding the OEM demand wave. Add to that 300+ patents and rising R&D spends, and you have a company betting big on innovation. Clearly one to track if you’re following India’s EV transformation.
This series on auto ancillary companies works with the assumption that, from the whole set of companies, some multibagger stocks will emerge. And some companies in this space risk going bankrupt.How does the revenue of an auto ancillary company grow? Either by selling the same products to newer customers (customer expansion) or by selling new products to existing customers (product expansion). Regular readers of our series on auto ancillaries
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