| Railway Safety Systems and Signaling | Advanced train collision avoidance systems, SIL-4 ATP, axle counters, and signaling safety products. | Exclusive RDSO approvals, in-house technology, early-mover advantage in indigenous ATP systems. | B2B; Indian Railways, metro rail corporations, and rail infrastructure contractors. | Proprietary safety systems with high technical complexity and recurring service contracts. | 40 | 32 | Contract-based sales and long-term maintenance services to Indian Railways and associated entities. | Project pricing with recurring maintenance contracts; competitive bidding for tenders. | Government safety mandates, RDSO approvals, expanding train automation demand. | Kavach 4.0 from Progota India |
| Railway Electrification and Propulsion Systems | Battery chargers, propulsion control units, traction systems, and locomotive diagnostic solutions. | R&D capability, proprietary tech, exclusive supplier relationships with rail manufacturers. | B2B; Indian Railways and rolling stock manufacturers. | Indigenous propulsion technology and diagnostic systems with strong margins. | 50 | 40 | Project orders and supply contracts for electrification and retrofit projects. | Order-based sales with aftersales support and upgrades. | Railway electrification drive, net-zero emission targets, modernization of rolling stock. | Advanced Rail Controls products, Zero-Emission Diesel Loco Propulsion |
| Electronic Components and Flex PCB Manufacturing | High-value flex printed circuit boards, assembly and manufacturing services for rail and other industries. | Largest domestic flex PCB capacity with key client relationships. | B2B; global OEMs, Indian rail and industrial sectors. | Premium flex PCBs and rail-grade electronics assemblies. | 30 | 24 | Sales of flex PCBs and contract manufacturing with recurring orders from OEMs. | Volume-based contract manufacturing and direct sales. | Import substitution, diversification into high value electronics manufacturing. | Fusion Electronics Flex PCBs, Box Build Assemblies |
