Belrise Industries (formerly Badve Engineering) has reported its financial results for FY2025, with revenue of INR 82,908 million, up 11 percent YoY, as compared to INR 74,841 million last year.

The EBITDA came at INR 10,211 million, up 10 percent YoY, EBITDA margin of 12.3 percent, and profit after tax at INR 3,554 million, as against INR 3,138 million last year.

The company, a leading automotive component supplier, saw 81.3 percent of manufacturing revenue coming from the two-wheeler segment, three-wheelers contributed 3.6 percent, passenger vehicles 4.4 percent, commercial vehicles contributing 7.3 percent, while remaining came from other segments.

Belrise Industries also announced that it has repaid about INR 15,960 million debt through its recent IPO proceeds, which will further reduce interest cost savings and significantly improve debt ratios.

Shrikant Badve, Managing Director, Belrise Industries, said, “FY2025 has been a great year for Belrise Industries, marking our transition into the public markets and taking us a step closer to becoming one of India’s largest and most respected process engineering companies. Throughout the year, we made meaningful progress on multiple fronts. We ended FY2025 with total revenue from operations of INR 82,908 million, including INR 65,938 million from manufacturing activities, supported by strong offtake in key accounts, a better product mix and improved throughput from mature plants. Our EBITDA margin stood at 12.3 percent with profitability remaining stable despite raw material price fluctuations and cost absorption from newly commissioned facilities.”

“A key highlight of the year is that we are moving from a Tier-1 supplier (subsystem supplier) to a Tier 0.5 supplier (system supplier). This has led to an increasing share of systems and sub-assemblies in our manufacturing revenues — products that require greater engineering input and offer higher embedded value. Around 73 percent of our portfolio is now powertrain-agnostic, giving us the ability to scale across both ICE and EV platforms. The integration of H-One India and Mag Filters has further enhanced our capabilities. These additions not only expand our product reach but also bring added relevance across PV and CV platforms, where we see growing customer interest.

From the recently completed IPO, we have already repaid debt of INR 15,960 million, which will lead to the reduction in interest costs and a significant improvement in debt ratios over the year.”

Going forward, he expects that in FY2026 the auto component industry to grow at a steady pace led by two-wheeler and passenger vehicle segments.

“We believe Belrise is well positioned to benefit from this trend and is estimated to grow faster than the industry at mid-teen levels, supported by strong relationships Tier-1 OEMs. As we move into FY26, we remain focused on expanding our presence in the 4W and CV segments, while continuing to build on our core strengths. Our approach will remain anchored in product premiumisation, engineering capability and operational efficiencies — ensuring we scale responsibly and sustainably in the years ahead.”

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Highway Roop Precision Technologies (Highway Roop), a global auto components platform formed by the integration of Highway Industries and Roop Automotives, has appointed Dharmesh Arora as its new Chief Executive Officer.

Arora brings a wealth of experience to Highway Roop, having most recently served as CEO for Asia Pacific at Schaeffler Group for over five years. Prior to that, he held the position of CEO for Schaeffler India for seven years. His extensive career also includes two decades in leadership roles within purchasing and supply chain at General Motors. He started his journey in the automotive sector in 1986 as a Product Engineer at Maruti Suzuki India, making him a seasoned industry veteran.

Mohit Oswal, Non-Executive Chairman of Highway Roop, said, “We are excited that Dharmesh has joined as CEO of Highway Roop. He is a highly experienced professional who has a deep understanding of the automotive industry and brings decades of global experience in building and managing automotive businesses”.

He added that Arora’s focus will be on "accelerating growth, driving operational excellence and leveraging innovation to deliver enhanced value for the Platform’s customers and strengthen its market position."

Dharmesh Arora said, “I am honoured to join Highway Roop at such an exciting time for India’s automotive industry. The platform’s strong manufacturing capabilities, diverse product portfolio, and global customer base create a powerful foundation for expansion.”

Highway Roop is a prominent manufacturer of forged and precision-machined components, including steering system assemblies and various transmission and powertrain applications. The company caters to electric, hybrid, and internal combustion engine (ICE) powered vehicles. The platform has also indicated its intent to acquire synergistic assets as part of its growth and expansion strategy within the auto components sector.

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Sunjay J Kapur, the 53-year-old Chairman and Non-Executive Director of Sona Comstar passed away in the UK on 12 June 2025 post a sudden heart attack. 

He played a pivotal role in shaping Sona Comstar into a global mobility technology company that stresses on innovation, sustainability and purpose,

Kapur displayed rare leadership qualities. His passion, foresight, and relentless commitment to excellence inspired everyone who had the privilege of working with him. He was also closely involved in the workings of the Automotive Component Manufacturers Association (ACMA), the apex body representing component makers in the country, and was an active member of the Confederation of Indian Industry (CII). 

Beyond his professional accomplishments, Kapur was a devoted father and a tireless advocate for India’s manufacturing and mobility sectors.

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US-headquartered commercial duty automatic transmissions and hybrid propulsion systems manufacturer Allison Transmission has signed a definitive agreement to acquire the Off-Highway business of Dana Inc, a prominent provider of drivetrain and propulsion solutions, for approximately USD 2.7 billion.

This significant acquisition is set to expand Allison's global footprint, enhance its core technologies and strengthen its financial performance. The move will allow Allison to offer a broader spectrum of commercial-duty powertrain and industrial solutions to a wider customer base and end-users worldwide.

David Graziosi, Chaira and CEO, Allision Transmission, said, "This acquisition marks a transformative milestone in our commitment to empowering our current and future customers with propulsion and drivetrain solutions that improve the way the world works. We look forward to harnessing this momentum to increase value for all of our stakeholders worldwide."

Dana's Off-Highway business is a global entity, operating in over 25 countries with approximately 11,000 employees supporting a diverse customer base. The business is renowned for its industry-leading powertrain technologies, including axles, propulsion solutions and various drivetrain components, serving a wide array of applications in construction, forestry, agriculture, specialty vehicles, aftermarket, industrial and mining segments. Notably, it also specialises in hybrid and electric drive systems, supported by a robust global network of manufacturing facilities and technical centers.

R. Bruce McDonald, Chair and CEO, Dana Inc, said, “Dana’s off-highway business has long been committed to delivering innovative solutions for off-highway applications, and we are confident that under Allison’s ownership, the team will be well-positioned to continue that legacy.” He added that the agreement represents a strategic opportunity for Dana to ensure the business's ongoing success while allowing Dana to sharpen its focus on core priorities.

The combined entity is expected to leverage its expanded global presence and technical expertise to unlock new growth opportunities and develop differentiated solutions tailored to evolving customer needs.

Financially, the acquisition of Dana’s off-highway business is projected to be immediately accretive to Allison’s diluted earnings per share. It is also anticipated to generate approximately USD 120 million in annual run-rate synergies. Allison plans to finance the transaction through a combination of cash on its balance sheet and debt. The acquisition has received approval from the Boards of Directors of both companies and is expected to close late in the fourth quarter of 2025, subject to customary regulatory approvals.

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Minda Corporation, the flagship company of the Spark Minda Group, has entered into a joint venture with Japan-based Toyodenso Co. to develop and manufacture advanced automotive switches for the Indian market.

The new partnership aims to provide end-to-end solutions covering design, development, production and marketing for two-wheelers, passenger vehicles and other automotive segments.

As per the understanding, Minda Corporation will hold a 60 percent majority stake in the joint venture, while Toyodenso will retain the remaining 40 percent. The new greenfield manufacturing facility will be established in Noida, Uttar Pradesh, with operations scheduled to begin in the second half of FY2026–27. The joint venture has already secured orders from Indian automotive customers.

The collaboration is strategically aimed at addressing the increasing demand for advanced automotive switches in India. It also aligns with Minda Corporation’s broader strategy of expanding its synergistic product portfolio and promoting localisation of new technologies. Toyodenso is expected to bring cutting-edge technologies and engineering expertise, while Minda Corporation will leverage its strong capabilities in local manufacturing and supply chain management to support the venture’s growth.

Ashok Minda, Chairman & Group CEO, Minda Corporation, said, “We are very excited and privileged to partner with Toyodenso, a Global Japanese company with rich legacy of technological innovation. This partnership marks a pivotal milestone in our journey to drive smart mobility solutions while fostering indigenous manufacturing by integrating globally recognised technologies into India’s automotive ecosystem.”

Kiyoshi Koide, President, Toyodenso Co, stated, “Toyodenso aims to stabilise its business base and will work with Spark Minda to develop the Indian market to focus on the manufacturing and sales of automotive parts in India, which is a growing market.”

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