The company holds nearly 66% market share in supplying leaf spring to the truck makers such as Ashok Leyland, Tata Motors and Bharat Benz. It is the world's third largest leaf spring manufacturer.The company dominates the parabolic spring type suspension with a market share of 90-95% and enjoys superior margins than conventional leaf spring suspension. The unorganised players have market share of over 85% and their products are cheaper by 15%.The company expects it can gain sizeable market share from the unorganised sector after the implementation of the Goods and Services Tax (GST) bill. At the Friday's closing price of `159, the stock was available at 11.5 times the FY18 projected earnings. One, given the pickup in freight movement, heavy commercial vehicles (HCV) growth is expected to remain above 15%.

Source: Economic Times June 12, 2016 23:59 UTC