Strategy

RECALIBRATION TO ADVANCE

Our strategy reflects a clear shift – focused on scaling high-potential verticals, strengthening domestic anchors, and aligning capital to core advantage. This recalibration positions us to lead with resilience, pursue quality growth, and create sustained value across cycles.

Strategic Priorities	Actions Undertaken and Potential Outcomes
S1Focusing on the Indian market	The AAM India acquisition strengthens our position in the local passenger and Light Commercial Vehicle market. In addition to Forging, we aim to increase our content per customer via supply of ferrous and aluminum castings. Defence and aerospace being scaled up in line with Make in India.
S2Scaling high-growth verticals	Defence order book expanded to ₹9,500 crore; span pipeline across artillery, vehicles, and naval systems. Aerospace business growing at 15–20% annually with wins from global OEMs and new facility investments. Ferrous casting (JSA) reached ₹697 crore in revenue with margins at 14.9%. Strategic investments in machining and ring mills for aerospace signal the shift to integrated systems and sub-systems.
S3Transitioning from components to products	Acquisition of AAM India provides strong push to increasing share of proprietary products Product-led growth being driven across defence, aerospace, and industrial verticals.
S4Scaling the Indian subsidiaries	Developing full-stack EV powertrain systems. New KSSL plant to consolidate defence manufacturing and unlock future capacity. Electronic products manufacturing line operational. Utilization likely to receive a step up with server manufacturing at the recently inaugurated SMT line.
S5Financial prudence and operational focus	Net debt-to-equity reduced to 0.17×; ₹2,623 crore cash on books as of FY2025. FY2026 CAPEX to be focused solely on India; Capex intensity to come down sharply in FY2026 as overseas capex got concluded. Operational improvements underway via cost control to optimize operations.
S6Digitalization and organizational capability	AI and digital tools being deployed to drive cost reduction and productivity. Workforce realignment and facility upgrades aimed at next-gen efficiency. Organizational 2.0 model enhancing execution bandwidth and agility.

STRATEGY

RECALIBRATION TO ADVANCE