Multibagger or IBC - Part 18: This auto ancillary started with wheels. It now also powers wind & war

This auto ancillary is embedded deep inside the supply chains of global OEMs, yet rarely finds itself in the limelight. With 13 manufacturing units and clients across North America, Europe, and Asia, it plays a critical role in sectors ranging from commercial vehicles and agriculture to construction, defense, and renewable energy. FY25 brought a 4% revenue dip, but profitability surged 56% on cost controls, better product mix, and a subsidiary turnaround. 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.