Search+Intelligent InvestingRepresentational image.SynopsisSome auto ancillary stories are best understood by products. This one is best understood by buckets. The first bucket is still old auto, and it brings most of the revenue. The second bucket is the transition layer, where the company is trying to build more powertrain-neutral and EV-linked exposure. The third bucket is the diversification layer. In FY26, the old bucket was still around 70% of revenue, with the newer buckets forming the rest. So, business is more balanced than before, but not yet transformed. For investors, the key questions are mix change, order conversion, capex efficiency, working capital, and whether newer revenue can scale without weakening returns.Here is the unusual part: Demand is not this company's problem. It has already won an order pipeline larger than a full year's sales, with the richest orders flowing into its newest, highest-value work. The risk sits on the other side of the ledger, the delivery of the order. While delivery might appear easy, it is always a challenge when a company is undergoing changing. Auto suppliers are usually associated with grease, forging presses, and ETMarkets.com 36 mins readJun 17, 2026, 08:30:00 PM 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