The business of ANG Auto Ltd. (formerly ANG Exports Ltd.) is now on the fast track.

Key growth drivers for the business are:
Collaboration with Guangdong Fuwa (one of the world's largest manufacturer of sigle piece dummy axles and the largest in Asia) for manufacture of Fully Dressed Single Piece Dummy Axle and Trailer Suspension System for the Indian and Export Market, where ANG's product quality is far superior compared to competition.
Movement up the value chain in air brake components, where ANG is one of the largest manufacturer and exporter in South East Asia.
First mover advantage in automatic slack adjusters, which has a huge demand growth potential going forward, where ANG is one of the lowest cost producer (quality tested and validated by Greening Labs, US) and has a patent application pending for the version indigenously developed by it.
Consolidation of all group businesses under the listed entity augurs well for future growth plans. FY06 a year of transition, FY07 to see full impact of group consolidation.
6 manufacturing facilities with 2 new facilities at SEZ, Noida and 1 new facility at Nalagarh, H.P. and a seventh mega facility coming up at Bhiwadi, Rajasthan at a capex of Rs.37 crores.
Tax benefits at new facilities to bring higher post-tax cash flows.
Enviable clientele such as Arvin Meritor, Axle Alliance, Mack Trucks, Bosch Rexroth etc. presenting scope for significant ramp-up in business.
The stock has been a multi-bagger in 2005 but given the robust growth prospects, based on projected FY07 earnings, the stock continues to look attractive on declines and could be an outperformer among the auto ancillary pack for next year as well.

A detailed research report is under compilation and will be made available in due course.