The auto parts industry is accelerating ahead

The auto parts industry had a monumental FY23. The industry's combined revenue grew about 33 per cent year-on-year to hit an all-time high of Rs 5.6 lakh crore. The growth was secular, with auto part manufacturers with a market cap above Rs 10,000 crore witnessing double-digit revenue growth. Profitability also witnessed significant improvement as margins zoomed. Auto component industry-top performers The companies in the list achieved double-digit revenue growth in FY23 Company M-cap (Rs cr) Revenue growth (%) PAT growth (%) 1Y share price return (%) Ramkrishna Forgings 10492 37.9 25.3 256.4 ZF Commercial Vehicle 24714 35.4 123.6 33.1 UNO Minda 33947 35.2 83.7 4.9 Timken India 24101 27.4 19.5 8.8 Bosch 53889 26.7 17 6.2 Cummins India 47501 25.9 31.5