Renewed focus on clientele and product diversification to drive growth

Growth story steered by capex and product mix change

Stronger volumes & profitability improvement continues

Management to focus on asset light model

Scope for significant growth in topline/bottomline, strong balance sheet and strong management pedigree

Order book reported at INR 7,500 cr at highest ever level; Order-inflow continued to remain strong

Its sheer brand strength along with a prudent long term strategy render it a multibagger

Inexpensive valuation of 8x FY20E P/E and ability to generate free cash flows in excess of INR600cr every year provides margin of safety

Increasing utilization to spur margins across segments

Beneficiary of GST + Product mix driving profitability