Great discussion. Glad we started talking about MTAR. Can anyone shed light on competition? In the DHRP and mgmt discussions, this was highlighted as a risk esp. In clean energy space where the Co. Gets 60%+ revenue. To shed more light, MTAR did call out that its buyers take aggressive cost cutting approach over a period of time which it can counter with lean mgmt and R&D (one of the divisions are focused on this). Interestingly, economies of scale play a large factor here. If I recollect correctly, the cost
of production can fall by 33% as volume increases. It’s here that it called out that its competitors have more access to resources than it does. Further, a concentrated customer base (Bloom and 2-3 potential in the future) may not give it bargaining power. With so many Indian Cos foraying into green hydrogen (Reliance announcing that it would produce at Rs1/kg and India would be an exporter), where do we see MTAR stand up against esp. If clean energy would become a volume play for MTAR. It has its USP in nuclear and Space sector.
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