| Automotive - Commercial Vehicles | Forged and machined components like crankshafts, axle beams, steering knuckles for commercial vehicle OEMs. | High entry barriers due to technology, existing OEM relationships, and product reliability. | B2B OEMs in commercial vehicle manufacturing. | Crankshafts and precision machined components with stringent quality standards. | 983 | 70 | Sales mainly through long-term OEM supply contracts. | Contractual sales, project-based pricing with long-term agreements. | Growing commercial vehicle production, increased demand for high-precision components, and EV front axle beam introduction. | |
| Industrial Equipment and Machinery | Forged parts for oil and gas, power generation, railways, wind turbines, and other industrial machinery. | In-house metallurgical testing and critical product manufacturing capabilities. | B2B OEMs in industrial equipment sectors. | Specialized forged components requiring heavy-duty pressing and precision machining. | 297 | 21 | Sales through OEM contracts and direct supply agreements. | Project and contract-based sales. | Industrial infrastructure development and diversification into wind turbine components. | |
| Automotive - Passenger Vehicles and Farm Equipment | Machined crankshafts and forged components for passenger vehicles and farm equipment OEMs. | Growing footprint in passenger vehicle forging coupled with capacity expansions. | B2B automotive OEMs in passenger vehicles and agriculture machinery segments. | Machined light-weight forged components. | 140 | 9 | Contractual sales and OEM supply agreements. | Contract pricing with OEMs, recurring supply contracts. | Expanding passenger vehicle supplies including SUVs and steady farm equipment demand. | |
