Search+Intelligent InvestingRepresentational image.SynopsisOn paper this is a friction-material company. In practice, the larger force inside the company is an investment portfolio. The friction business is EV-resistant, which is rare and valuable. But customer concentration, a zeroed-out JV, related-party activities, and a new untested commodities trading bet complicate the picture. This is a story of two companies sharing one ticker.For sixty companies, this series has asked auto-ancillary makers one brutal question: When the engine disappears, are you a multibagger in the making or a slow walk to the bankruptcy court? Company number 61 refuses to answer it. Its products survive the EV transition, because they are needed irrespective of whatever powers the wheels. So the disruption that haunts the rest of this series does not really threaten it. The harder questions are ETMarkets.com 25 mins readJun 04, 2026, 11:48:00 AM ISTGift this Story to your friendsFONT SIZEAbcSmallAbcMediumAbcLargeSAVEPRINTCOMMENTContinue reading with one of these options:Limited AccessFreeLogin to get access to some exclusive stories & personalised newslettersLogin NowUnlimited AccessStarting @ Rs120/monthGet access to exclusive stories, expert opinions & in-depth stock reportsSubscribe NowETUh-oh! This is an exclusive story available for selected readers only.Worry not. You’re just a step away.What’s Included withETPrime Membership
ET Prime Special Series: Multibagger or IBC - Curious case of one stock, two companies. Only one of them makes brakes
On paper this is a friction-material company. In practice, the larger force inside the company is an investment portfolio. The friction business is EV-resistant, which is rare and valuable. But customer concentration, a zeroed-out JV, related-party activities, and a new untested commodities trading bet complicate the picture. This is a story of two companies sharing one ticker.
548 words~2 min read
