August 1, 2026 Performance under recovery. Some global challenges remain but Company seems to be managing it well. Record sales; high profitability sustained despite disruptions. Management framed Q1 as disrupted by supply chain and logistics rather than demand Management quantified “about two weeks” of production lost due to upstream supply disruption (a key Indian supplier … Read more
January 28, 2026 Company continues to build from strength to strength across all its businesses. In TTM , revenues grew by 21% and profits by 80%. During last 3 years these numbers were 27% and 44% respectively. Revenue growth is lower (though attractive) due to higher base whereas profits higher (due to the nature of … Read more
August 12, 2026 Significant under performance on margins 90% of Company’s business is crude linked and hence the impact of the historically high volatility in crude prices. Loss of Pril impact. Competitive intensity also didn’t allow Company to raise prices significantly to counter the impact. against 35% increase in average raw material prices, Company could … Read more
January 30, 2026 During TTM, revenues grew by 18% and PAT by -2%. Revenues growth has been due to continued decent auto industry growth. A part of revenue growth is also contributed by increasing copper prices. Copper prices are a complete pass through to customers though with a lag of 1-2 quarters Other key takeaways … Read more
October 24, 2024 Company continues to expand in all focus segments Senior living residences launched in Gurugram in August 24. 75% booking achieved in 60 days 300 beds in care homes now. 234 added in H1FY 25 (Gurugram, Bangalore, Noida) 300 beds to be additionally added in H2 FY 25 Products portfolio expanded to 59 … Read more
October 27, 2025 Continued strong performance in a challenging environment. Management has been diversifying towards more geographies, product lines as well as customers and has demonstrated gradual success over last few years. It provides a balanced approach towards short term focus (order wins), medium term strategy and long term preparation. It develops and/ or buys … Read more
January 27, 2025 Continued strong performance. Stock has become further expensive at 48x TTM P/E. The median P/E of the stock since listing in 2020 has been at 53x TTM P/E Don’t be in a hurry. Wait for good entry points. Company otherwise is a superb buy and hold. May 28, 2024 Strong performance during … Read more
February 4, 2025 Strong performance continues. Similar outlook as previous – 20% revenue CAGR for next 3 years and 26-27% EBITDA margin. Valuations are getting into an attractive range. Currently at 41x TTM P/E. Look to enter back. May 21, 2024 Strong outlook commentary similar to the previous quarter Company guidance of 20% revenue CAGR … Read more
September 4, 2023 Past performance track record Sales CAGR over last 10 yrs of 21%. PAT CAGR of 30% and average ROE of 24%. However, a significant reason for these high CAGR is recent doubling of capacity in FY22. Without that growth would have been much lower. Cash from operations in the past have trended … Read more