They are steadfast in its dedication to finding and taking unparceled opportunities for expansion and accelerating their growth through strategic initiatives. They acquired WPI which opens up a lot of opportunities for them. This also makes SJS innovative capabilities a lot higher by leveraging exotech and WPI skills to grow their customer base and to penetrate more markets. With this SJS also gains access to more cutting edge and high tech products which will help them solidify their position in the market. SJS also is looking to diversify their revenue stream with these new acquisitions which will allow them to achieve sustainable growth in the future. SJS holds a strong place in the Indian decorative aesthetic industry and they can do everything from design to delivery of a product. They have 2 subsidiaries which are exotech and WPI. Exotech manufactures chrome plated and painted injection modules parts for multiple different things such as 2 wheelers, consumer appliances and farming. WPI which they recently acquired specialise in designing and developing high value functional parts for passenger vehicles and consumer electrical. They operate in high value aesthetics areas which focus on consumer needs and wants. With their dedication to on aesthetics and premium content their is a significant opportunity across the entire supply chain. They are strategically positioned to take advantage of the growing market trend. They deploy a lot of high tech stuff to offer products such as decals, appliques dials, overlays, domes/3D lux logos, aluminium badges, in-mould decoratives (IMD), in-mould labelling (IML), in-mould Forming (IMF), optical plastics, lens mask covers, and chrome-plated parts. These products can all serve various industries which can boost their growth. SJS has a remarkable track record of creating innovative designs. SJS is a trusted partner to a lot of the OEMS particularly in the automotive and the consumer appliances center. The average tenure of their relationship with their top 10 partnerships exceed 20 years. With them holding a top spot in India already they are planning on strategically expanding their global footprint. Their main clients are Auto OEMS, Tier one Auto Component Suppliers, Consumer Appliances Players, Telecom Players and Others. For their revenue break up 2 wheelers and passenger vehicles contributed to 73.8 percent with consumer appliances and others contributing to the rest. Their broad portfolio of products span around 14 product categories and 7 distinct industries. Despite global headwinds the Indian economy seems to be resilient and steady and is currently the 5th largest economy in the world. Indias GDP increased by nearly one percent from 7.2 last year to 8.2 this year. This growth is driven by several factors such as government and private investment and controlled inflation and stuff like that. The Indian automotive industry as a whole saw a lot of resilience driven by a combination of things such as enhanced consumer confidence, new model launches and the shift towards premiumisation. Positive market indicators such as improved vehicle availability, increased electric vehicle adoption, and government support for sustainable mobility can lead to a decent trajectory for the industry. The industry is also seeing a gradual transition to advanced tech stuff and 3d components for the car. With them acquiring WPI they opened up a lot of new avenues for them by adding products like IMD, IMF and IML. They acquisitions of Exotech and WPI allowed for several new things to be open for them to explore and also the companies complemented their existing product portfolio. Their revenue grew by 45 percent in fy 24. Their automotive segment has acquired several new clients and they have also received various orders from several esteemed clients in the segment. Inorganic growth is essential for their company. The shift from conventional injection moulding to IML/IMF is a big trend in the aesthetics market and the acquisition of WPI makes sure that they can capitalise on this trend. Their exports grew by 51.1 percent. What really set them apart this year was the acquisition of WPI which is an industry leader in IMF/IML. Because of this acquisitions it gives them an advantage because of the tech skills that come with WPI. With this acquisitions they gained several things such as strong growth and high margins at a favourable valuation and they have also achieved several of their strategic objectives like new emerging technologies, expansion of customer base, enhancement of manufacturing capabilities, and strengthening of management bandwidth. They are also working with OEM to launch more innovative products and they are aiming to Increase their kit value for their consumer appliances and Passenger vehicles by 3 to 4 times and for their 2 wheelers by 1.5 to 2 times. They are working to expand their capacity to cater to all the growth that they expect to see. One of the things that they believe is absoultely crucial is development of new products and they have been very consistent at this in the last fey years. They believe that their future growth trajectory will be fuelled by premiumisation and futuristic designs. They are very excited about the potential of optical plastics and cover glass and how it could reduce their dependancy on 2 wheelers. Their export business has also been doing very well with them starting to sell to various countries including Turkey, Brazil, Argentina, and Colombia. They have also recently got a sales agent in South Korea to expand over there and they are looking for ways to get into more and more markets. They also realise that outside of india and a few specific countries the Passenger vehicles market are much bigger then the 2 wheelers. To expand their product portfolio they plan to enter new market segment with existing OEM as well as new OEMS. By successfully acquiring Exotech and getting strong growth it has allowed them to feel confident about acquiring new companies. Their acquisition of WPI is supposed to reduce their dependency on 2 wheelers and diversify their portfolio further. The global economy is supposed to witness some growth with inflation dropping faster than expected. The Indian economy is supposed to be one of the fastest growing economy for the next few years. The Indian government wants to focus on diversifying its supply chain and relying on its own country to boost their exports. The Indian decorative aesthetic industry is going to grow at a CAGR of 20 percent. It works on making products more visually appealing and is really starting to Take hold. The Indian 2 wheelers industry also witnessed robust growth thanks to a multitude of factors. These sector is supposed to witness growth supported by the government policies to help farmers and stuff like that. The Indian passenger vehicles also witnessed strong growth fuelled by many factors such as new model launches, greater availability, and stuff like that. Various government schemes are also helping the Passenger vehicle segment by a lot but there is a concern of over supply but despite that the Passenger Vehicle segment should also witness some strong growth. Indias consumer durables sector also witnessed some transformation in the last few years because of the changing customer preferences and advanced technology. The demand for customer durables in India is on the rise driven by more disposable income and various other stuff most of it is to do with the advance of tech and AI and e-commerce. Government initiatives are also going to help this sector a lot. 

Summary

SJS is a leading player in the Indian decorative aesthetic segment and they provide their products mainly in India. With their position in India being one of a market leader they are now expanding outwards into the world. They have recently acquired a company called WPI which is going to help diversify and boost their product portfolio. They offer a lot of products and they offer products for 14 different product category and 7 different segments. They mainly get their revenue from 2 wheelers and Passenger vehicles. Their main clients are Auto OEMS, Tier one Auto Component Suppliers, Consumer Appliances Players, Telecom Players and Others. They have 2 subsidiaries which are WPI and Exotech.

Personal thoughts. 

I think that because of all the focus all the companies that I have read about have on premiumisation and customisation their business is defiantly a very profitable one with a lot of opportunity. With them getting a lot of revenue from 2 wheelers is also going to help hem a lot as motorcycle is one of the main modes of transport in India. I also think that since they have successfully acquired one company and now acquired another company recently it means that they have plans too acquire companies to grow their portfolio. I really like their focus on expanding into different market. One thing that I noticed that is a bit bad is that they said that they have products for 7 different things but mostly their revenue comes from 3 different segments so maybe they have some spaces where they can cut down on their expenses.