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HDFC Securities Retail Research
Rico Auto Industries Ltd. is an established player in the auto ancillaries industry, with a track record of over three decades. It enjoys a strong market position in its key product segments: high-pressure aluminium and ferrous die cast components.
The company is receiving strong orders from the domestic as well as export markets driving its topline growth. Monsoons have been good and the company expects strong revival in two-wheeler sales.
Also the new hybrid SUV launches from Toyota and Maruti Suzuki India Ltd. have received good response. Toyota has already indicated higher offtake.
On the export front, faster adoption of electric vehicle is leading to higher sales of aluminium casted components. Since 2018, Rico has been focusing on the emerging EVs and hybrid vehicle components and have started supplying to BMW, Toyota, Stellantis (PSA) and Renault.
Rico has been gradually expanding its capacities on back-to-back order basis.
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