Search+Intelligent InvestingRepresentational imageSynopsisAt first glance, this auto ancillary company looks like a conventional two-wheeler supplier. But its business mix tells a wider story. A newer aluminium-led segment has overtaken its older safety-linked segment. EV-linked sales have started showing up, and management says content per EV can be higher than ICE in some products. Yet, investors should not ignore the fine print. Exports are still small, customer concentration is high, and raw material pass-through can affect reported margins. This is not just a growth story. It is a story of mix, discipline, and transition risk.For 63 companies, this specialised series has asked auto ancillary companies a single, blunt question: As the engine disappears, are you a multibagger in the making, or a slow walk to the bankruptcy court? Company number 64 answers the growth half convincingly. It is the durability half that needs work.This company has built its identity around two-wheeler safety systems. It also has a growing aluminium lightweighting business, a small safety ETMarkets.com 27 mins readJun 24, 2026, 09:27:00 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