Search+Intelligent InvestingSynopsisFor many old auto suppliers, EVs raise an existential question: Will their product still be required? Here, the debate is different. The basic content remains relevant across ICE, hybrid, and EVs, while newer vehicles can carry more advanced versions of it through sensors, acoustic features, thermal control, and connected functions. That creates an unusual combination of defensive relevance and premiumisation potential. It supplies roughly 80% of India's passenger car market for what it makes. Yet in FY 2025-26 its consolidated profit fell even as revenue rose 8.7% and the company just finished the largest investment cycle in its history.On paper, this should be one of the safest bets in the whole series. The company supplies roughly eight out of every 10 cars sold in India with an essential part. Its product does not disappear when engines do; if anything, newer cars need more of it. It is, in its field, close to a monopoly. And yet last year, its profit fell. Not because sales dropped, they grew. Not because the factories ran badly, they ran better.Some companies enter this ETMarkets.com 31 mins readSep 02, 2026, 04:21:00 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