Synopsis
In its 2017-18 annual report, this company stated: “The future belongs to Electric vehicles (EVs), and LEDs will be significantly efficient on these vehicles” and that “plans are on the anvil to localise products (for EVs)”. The 2021-22 annual report shows it was not all tall talk. The company, it said, had set up a “state-of-the-art electronics plant in Bawal, Haryana, where [it] will manufacture cutting-edge electronic components and technology software – focusing on developing EV components. Cut to Q3FY25: 33% of its total order book of Rs. 2,600 crore comes from EVs.
This series on auto ancillary companies has an assumption that from the whole set of auto ancillary companies some multi-bagger stocks will emerge and some companies in this space have the risk of going bankrupt. The fifth company in our series on auto ancillaries adapting (or not) to the electric vehicle (EV) transformation in the auto industry is a dominant force in one particular component. Now, when it comes to auto ancillary companies, some
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