Kavach 4.0 looks almost complete. Current version being used is 3.2. Ongoing development seems to reason for slow execution.

“The Ministry of Railways, on Friday, informed the Cabinet Secretary that the Indian Railways plans to implement the Kavach safety system across 44,000 km of track within the next five years.”

“During a review meeting focused on Kavach 4.0, Vaishnaw instructed officials to promptly equip all locomotives with the system once it is ready. According to the report, at present, three manufacturers are producing the Kavach system, while others are in different phases of development.”

Disc: invested

A look back at FY24

Look at the capex over FY23 and FY24. The capacity has gone up from 12.5K to 32.5K which is 2.7x in April 2024

Now let us look at the guidance for FY25. Revenues of Rs 900-950 crs in FY25 and Rs1250-1300cr in FY26 (up from 596crs in FY24) implying 60% growth in FY25 and 37% growth in FY26 and margins expected too move upto 19-20% (up from 17% margins). People can do that math

Stocks looks like a doubler to me in 2 years.

Disclosure: Invested

I have concerns on few points here w.r.to. IPO and Gains.
These concerns may or may not have any impact on Share Price or Listing Gains.

1. I believe the promoters are getting distracted by focusing on AI/ New Startups rather then innovation around Better Battery Life / Charging Infra etc.
2. I am a user of the bike and I can say with experience the build quality is not great. Being in Metro like Mumbai, I am worried, 1 pothole or speed breaker is going to damage the front fork/suspension.
3. Competition – Active because of the trust in brand and loyal following will be a real competitive threat.

Amara Raja signs licensing agreement with a Slovakian company for lithim ion cells.

HBL also last year approved 60 Cr CAPEX for lithium ion cell production.

Does anyone know the differences in the technologies of HBL Li-ion v/s the above Slovakian company’s LFP technology?