Sandhar Technologies, a maker of automotive components, is in focus after Macquarie initiated coverage on the stock with an 'outperform' rating. Arvind Joshi, whole time director-finance of Sandhar Technologies, spoke to CNBC-TV18 about the company's business plans and growth prospects.

“We are still very optimistic with regard to both the sectors as well as the company per se. Our investments are paying off well. We have seen a huge amount of traction coming up in Q4 as compared to the previous quarters in many of our businesses. This is despite the fact that the industry per se is not doing well. However, if you fragment the industry, you would have to see each of the different mobility segment have played out in a different manner. You would see the two-wheelers definitely having a modest growth and passenger cars showing a declining growth but you have the commercial vehicle segment, which has grown phenomenally,” Joshi said on Tuesday.

“On the construction equipment side, on the infrastructure side, we do see phenomenal growth coming in. The fact that we have been able to diversify our business fragmented and reach out into many of the other mobility segment from two-wheelers, within the two-wheelers into the scooters, from motorcycles to moving into mopeds, in the passenger vehicles supplying to expanding our customer base in the passenger vehicle segment, commercial vehicles – we remain the leaders in terms of our locking systems and the rear-view mirrors. However, having said that, we have tried to invest in multiple technology platforms and that is what is ensuring that our content per vehicle continuously increases with the same customer, it increases within the same model and we are here talking in terms of a growth rate, which would be in multiples of what the industry is growing at,” he said.

In terms of guidance, Joshi said, “Across the various technology platforms, be it cheap metal, be it aluminium, be it zinc, be it moulded plastics or even painted parts and all – all put together they are the sum of parts. It would be difficult for me to say how much of content would increase but definitely the type of new products, which we are developing, they are definitely bound to add up almost about Rs 500-1,000 depending upon the type of vehicle, which you are looking at. We are likely to see the scooters as well as the motorcycles having upside coming in because of the new product development, raising the content per vehicle by at least Rs 500 in each of these vehicles.”