HI,
Just my thoughts. Do they Design and Develop any product on their own in the 5% you mentioned as the product they manufacture. I have gone through the website. They have listed all the products from other companies which they trade. Can you please let me know the product they developed? Do we see any technological moat for their own products? (I believe in technological superiority of any company selling any products). As you have mentioned this is a well establised and go-to company for all water treatment related products. Apart from this, what are the entry barriers for others in the services this company is providing?
Sorry for too many questions. It would be nice to know.
If Water Treatment is the theme based on which we need to invest in this, why not we go for EMS Limited in this space which is an EPC company?
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