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Bain Capital-backed Dhoot Transmission bets on India EV shift to drive growth
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Yahoo News Singapore - Latest News & Headlines
By Vivek Kumar MAug 6 (Reuters) - IPO-bound Dhoot Transmission expects India's shift to electric vehicles to drive growth as the auto components maker expands its product portfolio and ties with automakers, a top executive said.
Chhatrapati Sambhajinagar-based Dhoot Transmission makes wiring harnesses for automotive and industrial applications.
Advertisement AdvertisementAdvertisement Advertisement"Electrification will be the biggest growth driver for us, with premiumization following close behind," Nitin Kalani, chief financial officer at Dhoot Transmission, said in an interview ahead of the company's $322.21 million initial public offering.
Dhoot Transmission expects to benefit from the greater wiring-harness content in EVs compared with internal combustion engine vehicles.
The shift is also reflected in Dhoot's non-harness portfolio, which rose to 23% of revenue currently from about 18% in fiscal 2024.