He said the management is confident of achieving targeted turnover of Rs 40,000 crore and return on capital employed (ROCE) of 40 percent by 2015.
On Friday, the stock of auto component maker climbed 6.96 percent to Rs 194.50. The stock hit a record high of Rs 200.95 in intraday.
Despite declining auto sales, brokerage firm Barclays has initiated the company with an overweight rating and a price target of Rs 235. It see upside potential of 22 percent from the current market price.
Below is an edited transcript of Vivek Sehgal's interview on CNBC-TV18.
Q: A lot of brokerages are bullish on you because of a proxy play in the domestic market. How are you doing in terms of market share within the domestic market considering the November sales that have not been good from an auto sales perspective?
A: The domestic play accounts for almost 20 percent of our business and the car models that we are supplying are doing relatively well. It is also a matter of 800 products that we supply.
So, market share is not much of relevance to a company like ours because we are supplying more content per car. Even if the numbers may go down for a month the content of the car is always increasing and hence we always have a superior result than the market or our peers.
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Q: Auto market is not showing signs of improvement, how are you seeing your own sales numbers?
A: Yes, auto market is weak but not all cars are slowing down. If you go deep into the numbers, maybe what you are saying is true, but the cars to whom we supply are doing well.
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