MIL is uniquely positioned in the domestic auto ancillary space as a provider of a wide variety of product solutions straddling established and growing opportunities. The company is also one of the few credible players in the high growth potential segments of airbags and alloy wheels. MIL possesses a steady state organic business riding on value migration i.e. higher kit value. We like MIL courtesy its progressive product profile, healthy capital efficiency and consistent positive CFO generation. Accordingly, we assign a...