The company claims to have integrated manufacturing capabilities across the production process. It operates two manufacturing facilities in Chakan, Pune, equipped with melting furnaces, gravity die casting (GDC), low-pressure die casting (LPDC), high-pressure die casting (HPDC), machining, heat treatment and testing equipment. As of March 31, 2026, these facilities had an annual melting capacity of 13,800 MT and a casting and finishing capacity of approximately 6,000 MT.
The company holds multiple quality and manufacturing certifications. It is ISO 9001:2015 certified for quality management systems, ISO 14001:2015 certified for environmental management systems, ISO 45001:2018 certified for occupational health and safety management systems, and IATF 16949:2016 certified for automotive quality management systems across its manufacturing facilities.
The company claims to have in-house design and reverse engineering capabilities. Its engineering team uses software such as CAD, Adstefan casting simulation and SolidCAM to develop customer-specific components and reverse engineer existing parts. It also claims to use equipment such as X-ray machines, coordinate measuring machines (CMM) and 3D scanning systems for product development, inspection and quality validation.
The company has diversified its business across multiple end-user industries. While automotive remains its primary business, it also manufactures components for electric vehicles, agriculture, defence, energy, healthcare and engineering goods. It has also entered the aerospace segment after obtaining vendor approval from a customer for product supply.
The company has reported consistent financial growth over the last three financial years. Revenue from operations increased from Rs 173.72 crore in FY24 to Rs 222.00 crore in FY25 and Rs 293.86 crore in FY26, while profit after tax increased from Rs 16.10 crore to Rs 23.93 and Rs 30.90 crore during the same period. Its customer base also expanded from 39 customers in FY24 to 58 customers in FY26.
The top five customers contributed Rs. 219.56 crore (74.72%), Rs. 173.06 crore (77.95%), and Rs. 146.66 crore (84.42%) to the company’s revenue from operations in FY26, FY25, and FY24, respectively. The top 10 customers contributed Rs. 260.48 crore (88.64%), Rs. 201.19 crore (90.63%), and Rs. 166.77 crore (96.00%) during the same period. Any failure to retain these key customers, secure repeat orders, or replace lost business could adversely affect the company’s revenue, operations, and financial condition.
The company’s operations are significantly dependent on aluminium, which accounted for 72.43%, 76.29%, and 74.20% of its total raw material consumption in FY26, FY25, and FY24, respectively. Since aluminium prices are subject to commodity market fluctuations and the company generally procures raw materials without long-term fixed-price supply agreements, any sharp increase in raw material costs or disruption in supply could adversely affect its profitability and financial condition.
The top 10 suppliers accounted for purchases worth Rs 84.93 crore (57.17%), Rs 63.76 crore (59.28%), and Rs 49.01 crore (65.66%) in FY26, FY25, and FY24, respectively. The company does not have exclusive supply arrangements with these suppliers and largely procures raw materials through purchase orders. Hence, any disruption in supplies, termination of supplier relationships, or inability to source raw materials from alternative vendors on similar commercial terms could adversely affect the company’s manufacturing operations and financial condition.
The company derives a significant portion of its revenue from the automotive sector, which contributed Rs 213.29 crore (72.58%), Rs 159.95 crore (72.05%), and Rs 138.75 crore (79.87%) to revenue from operations in FY26, FY25, and FY24, respectively. Any slowdown in the automotive industry, changes in government policies, shifts in vehicle demand, or failure to adapt to evolving technologies such as electric vehicles could adversely affect the company’s business, revenue, and financial condition.
The company has reported consistently negative cash flows from investing activities of Rs 57.35 crore, Rs 15.97 crore, and Rs 14.59 crore in FY26, FY25, and FY24, respectively, primarily due to capital expenditure incurred towards capacity expansion. Though the company is cash positive at the operating level, sustained reliance on borrowed funds for capital expenditure could result in higher finance costs, which in turn could weigh on the bottomline.
The company’s business is geographically concentrated, with Maharashtra, Karnataka, Punjab, Haryana and Gujarat collectively contributing Rs 262.86 crore (89.46%), Rs 192.89 crore (86.88%), and Rs 153.15 crore (88.14%) to its revenue from operations in FY26, FY25, and FY24, respectively. Any adverse political, economic, regulatory, social or natural developments in these states could disrupt the company’s operations and negatively affect its business, financial condition and results of operations.
As of FY26, FY25, and FY24, the company had trade receivables of Rs 51.81 crore, Rs 35.48 crore, and Rs 19.89 crore, representing 17.63%, 15.98%, and 11.45% of its revenue from operations, respectively. Any failure to collect these receivables on time, or defaults by customers, could increase working capital requirements, borrowing costs, and adversely affect the company’s cash flows and financial condition.
The company, along with its directors and promoters, is involved in certain legal proceedings. Any adverse ruling in these matters could adversely affect the company’s business, financial condition, results of operations, and reputation.
As of March 31, 2026, the company had contingent liabilities and commitments amounting to Rs 11.01 crore, compared with Rs 12.34 crore in FY25 and Rs 3.56 crore in FY24. If these contingent liabilities or commitments materialise, they could adversely affect the company’s financial position, cash flows, and results of operations.
As of June 30, 2026, the company had outstanding financial indebtedness of Rs 70.82 crore. Any failure to service or repay these borrowings, or comply with the associated loan covenants, could adversely affect the company’s cash flows, financial condition, and future business operations.