News: Company reports mixed performance in Q1FY23 wherein topline came in lower than anticipated at Rs 531 crore, down 7.5% QoQ with margins coming on expected lines and expanding by 70 bps QoQ at 17%. Resultant PAT for the quarter stood at Rs 34 crore, down 9% QoQ.
View: Company is traversing well onto its path of diversifying its sales mix towards more powertrain agnostic & EV components (9% in Q1FY23 vs. 6% in FY22). With healthy order book both from domestic as well as global OEM’s across automotive and non-automotive segment, the company is well poised to clock healthy profitable growth ahead.
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