Found the following data on PCB manufacturers in India
The asset turnover is around 1x for most players and margins vary depending on the complexity of PCB manufactured. PCB may be single, double or multi layered. Smartphone PCBs for example can have more than 16 layers while military electronic equipment have hundred layers.
There is another listed company called Fine line which does 30 cr of topline in the same business. Topline has been stagnant since the past 10 years.
India has been doing PCBA and backward integrating into PCB is the next natural step for the industry. How does one understand the competitive positioning or capex plans for the company going forward?
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