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HDD

Hardide PLC

Chemicals First-pass screen £28m
460/1000 Overall fit
AI beneficiary 35% 30
Operating leverage 25% 75
Valuation 25% 30
Downside protection 15% 60

First-pass take

Small-cap coating manufacturer with strong operational leverage (27% growth, 48%→57% margin, £10-12m capacity) but no AI exposure. Energy/aerospace end-markets are cyclical; top-six customer concentration. Recent momentum positive but lacks valuation data and scale for full analysis.

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