Multibagger or IBC - Part 17: Margins are slim. Promoters are all in. Is this small cap the ultimate contrarian bet?

In a sector being reshaped by EVs, many auto ancillary players are racing to stay relevant. But this small-cap firm holds an edge as its core product remains essential across vehicle platforms, unaffected by the shift from ICE to EV. However, customer concentration remains a key risk, with over 97% of sales tied to just three group entities. The good news is that the company is pushing into new product categories and deepening R&D collaborations. This series on auto ancillary companies works with the assumption that, from the whole set of auto ancillary companies, some multibagger stocks will emerge. And some companies in this space risk going bankrupt.