Gulf Oil Lubricants – A low risk way to play the economic cycle?

Hi,

What the management has said is that the fast charger market is expected to be more than INR 10,000 crore to INR 12,000 crore by FY 2030. So if Tirex can continue to maintain their share of 8 % to 10 %, Tirex revenue at the lower end would be Rs.1000 crore in FY2030.

And at 51 % stake, that is Rs.500 crores. Note that Tirex will be making 240 kW chargers, these cost upwards of Rs.20 lac to 30 lac per piece based on a google search for similar products.

Electric Vehicle (ev) Super Fast 240 Kw Dc Charger at 3128160.00 INR in Pune | Hmv Products Global (tradeindia.com)

Truck Exicom 240 kW EV DC Charger, For Buses,Trucks And Cars at Rs 2130000 in Thane (indiamart.com)

So assuming an average of Rs.25 lac per piece, you will need to sell about 4,000 chargers to make Rs.1,000 crore revenue for the company. Now whether this pricing will hold is anybody’s guess. In any case, more recently the company seems to have broad-based their plans since the MoU signed with the Government of Gujarat mentions producing 10,000 chargers annually. We will have to wait for the next concall to get additional details on this I think.

Tirex Chargers and Government of Gujarat Ink MoU for One of the Largest EV DC Charger Manufacturing Plants in India (businesswireindia.com)