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VCGuy
Believe me, it’s not... • 26d
If you’ve ever bought a door lock (esp. in Maharashtra), chances are it came from 'Europa Locks'(a.k.a Welmade Locking Systems). Started in 1984 → Dr. P.A. Joshi (ex-Godrej, German-trained) launched Europa Locks, one of India's earliest 'anti-theft engineering' firms. ⤷Deep R&D, local manufacturing, and strong builder relationships. EL was built very differently. Dr. Joshi personally visited 500+ theft sites to study how locks actually fail, then engineered products for real-world break-ins. Today: Europa is still fully promoter-owned, bootstrapped, and profitable. - ₹433.9 Cr revenue | ₹113.1 Cr EBITDA | ₹79.5 Cr Net profit - 3Y revenue CAGR = 32% | 3Y profit CAGR = 55% Europa sells via B2C retail, B2B (builders, hotels, smart city projects), and paid services (key duplication, installs). What makes Europa stand out ⤵️ a). IP-led hardware → deep defensibility in a low-trust segment. b). Field-informed R&D → 50+ break-in tests per lock c). End-to-end control from raw material to after-sales (All in-house in Pune) ⏭️In an industry most overlook, Europa Locks been quietly compounding for 40+ years.
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