I dont know about doubling
But we can guess earnings imo
The capacity 50% should commence by this FY
And another 23 crores will be deployed by end of next FY
This will take 2.5 years for complete Utilisation
Meaning
Almost 6 years but in that 6 years the capacity will almost be 6x
And bottom line may be in the similar line

@Samarth1 Minda has some presence. I could not find capex specifically for smart locks.

any view on battery recyling company

Dalal & Brocha has initiated coverage on Shivalik Bi-metal Controls (here).

• Global bi-metals market is projected to surge from Rs 1,600 cr to Rs 2,800 cr till FY30. Currently Shivalik commands a robust 16% global market share and aims to elevate it to 22% in the near future.

• Global shunts market is expected to grow from Rs 1,840 cr to Rs 5,200 cr by 2030. Currently Shivalik enjoys a 12-13% market share and aims to increase it to 17-18% in the coming years.

• The Management remains confident that there will be a 2-3% margin expansion on account of increasing volumes & better operating leverage reaching 26-29% EBITDA margin levels going forward.

• With minimal further capex of Rs 20-25 cr – Shivalik is confident to be able to almost quadruple its FY23 topline of Rs 470 Cr to 1600 cr with its existing setup & technology.

Rare to come across company with following combo : decent current addressable market size + market growing at good factor + market share expansion scope + margin expansion guidance + (sunrise sector). Most importantly it is a business that is expected to grow with virtually no major capital requirements.

Here is what Mr. Buffett wrote in the annual report for 1994 and 2007 (thanks to Prof for reminding in his case study on MSTC here – fantastic read it is) .

There’s a huge difference between the business that grows and requires lots of capital to do so and the business that grows and doesn’t require capital. And generally, financial analysts don’t apply adequate weight to the difference between those. In fact, it’s amazing how little attention is paid to that. Believe me, if you’re investing, you should pay a lot of attention to that.

It’s far better to have an ever-increasing stream of earnings with virtually no major capital requirements. Ask Microsoft or Google.

Disc: Same as before (invested)