This case study examines an Indian manufacturing company in the metalworking industry, which has achieved significant growth since the economic liberalization in 1991. The company was once a small factory established by a young college student and is now the leading firm for cylinder block manufacturing for commercial vehicles in India. The study investigates the rapid growth process of the firm to identify the critical factors and their dynamic interaction for the growth. It is found that their competitiveness lies in “the unique business model” that enables the production line available for customers in a very short lead-time. This core competence stems from the high-end manufacturing engineering acquired through the technology transfer from the foreign manufacturing firms. Using the analytical framework based on “The Theory of the Growth of the Firm” by Edith T. Penrose（1995）, the study reveals the growth of the company was driven by diversification to multiple business segments, dynamic investment by the faith of the chairperson, penetration into interstices of the growing Indian market, and effective deployment of the enhanced service capability of the management.
