Hi,
The stock went up in a jiffy in last couple of months for no apparent reason.
Below are the insights from recent annual report:
Triton Group Vs Total Addressable Market:
| Particulars | Triton Sales Revenue FY’24 | India TAM FY’24 (estimate) |
|---|---|---|
| Triton Valves (Automotive) Net external revenue | 258 Cr | 400 Cr |
| Triton Futuretech (Metal) Net external revenue | 159 Cr | 30,000 Cr |
| Triton Climatech (HVAC Valves) Net external revenue | 11 Cr | 500 Cr |
Triton Valves: Major change in technology as industry now moving from tube type tires to tubeless tires [highlighted above] and in the passenger vehicle segment fitted with Tyre Pressure Monitoring Systems (TPMS). The company is market leader in tire valve segment and well poised to cater the technology shift.
What is TPMS? (More crucial role in EV)
A tire pressure monitoring system is called a TPMS. These pressure sensors measure the amount of air in your tires and alert you to a reduction in pressure or under-inflation. In order to prevent you from driving recklessly, the TPMS assists in warning you when there are pressure problems. Noticing a decrease in tire pressure early on also helps to minimize the chance of tire failure and extends the life of your tires. Tire pressure is a major factor in vehicle handling and steering precision, which is why tire pressure monitoring systems (TPMS) are so important, especially in electric vehicles.
Triton Futuretech (TFT): As explained above, TFT manufactures extruded and drawn rods and coils of brass and other copper alloys. It caters to diverse range of industries, including automotive, industrial, oil & gas, defense, writing instruments, climate control, refrigeration, watch components etc. Brass is a thermal and electrical material that is frequently utilized in applications where corrosion is an issue. The brass sector in India is expanding due to growing demand for brass products as a result of rising need for air-conditioning and cooling not only for human comfort, but also for industrial uses such as data centers, internet, and AI-related infrastructure. With the growing demand for electrical products and electric vehicles (EVs), the use of brass is also increasing.
Triton Climatech (TCT): Critical supplier of valves and components to the air-conditioner manufacturing industry (AC industry). The AC component sector is predicted to be worth Rs 16,500 crore, whereas the market for valves and related components is estimated to be Rs 500 crore. TCT’s products are all import substitutes that are being produced on a large scale in India for the first time.
Triton is expecting a decent growth of 15% in the current financial year to achieve a topline of Rs 500cr.
Disclaimer: Invested from lower levels and biased. Above study is for educational purpose only and not a buy sell recommendation by any means.
| Subscribe To Our Free Newsletter |
