The company is an automotive component manufacturing, based in India, offering a diverse range of safety-critical systems and other engineering solutions for two-wheelers, three-wheelers, four-wheelers, commercial vehicles and agri-vehicles. Its product portfolio includes metal chassis systems, polymer components, suspension systems, body-in-white components and exhaust systems, among others. Its products are largely agnostic to vehicle powertrain types, reflecting its ability to cater to EV and internal combustion engine (ICE) vehicles. It also specializes in precision sheet metal pressing and fabrication.

For the year/period ended (Rs. in Cr.)

For year/ period ended ( in Cr.)

• Largely EV-agnostic product portfolio, strategically positioned to scale in tandem with the burgeoning EV market in India.
• Diverse Product Range.
• Technological Integration.
• Distinguished market leader in the high-growth field of precision sheet metal pressing and fabrication within a large and growing automotive component industry.

• Listing the equity shares on stock exchanges.
• To provide liquidity and a public market for the equity shares in India.
• Repayment/pre-payment, in full or in part, of certain outstanding borrowings availed by our Company.
• General corporate purposes.

The Company operates in niche segments, providing solutions to the auto industry. At the upper price band of INR 90, it is expected to list at a P/E of 18.83 and a P/B of 2.5, offering one of the most attractive valuations in its segment. Therefore, we recommend subscribing to the issue from a long-term investment perspective.