As far as I understand, BPL imports components from China and just assembles them in India. So, essentially, if you buy from BPL, you are still buying Chinese products. Correct me if I am wrong.
What worries me is that BPL does not have the luxury and resources to spend on R&D. Its strategy of importing & assembling mean that there will be wafer thin profits, no matter how high the revenue. Although the increase in sales has been quite encouraging, they were also helped by a small base effect. IMO the increase in sales going forward will not be as high.
Disclosure: Have exited my position at around Rs 50. Will enter again if BPL’s operating performance improves.