Talbros Automotive Components Ltd. does not see any threat from India’s increasing push to electric vehicles to the growth prospects of the auto parts maker.
Shares of the Mumbai-based company had risen over 90 percent last year but were off to a wobbly start this year, falling over 16 percent so far. The drop in the stock’s market value is in line with the NSE Nifty Auto Index
“Our exposure to passenger vehicles segment is merely two percent,” Chief Financial Officer Naveen Juneja, the chief financial officer of Talbros Automotive told BloombergQuint in an interview.
The company predominately caters to the commercial vehicles industry, Juneja said. “We expect to grow between 14-15 percent in the near term and up to 20 percent by the end of next financial year.”