Kinetic Engineering Ltd. (KEL), a key player in India’s automotive components industry, unveiled a major strategic initiative involving a convertible warrant issue worth INR 1.7 billion. The warrants, with an 18-month conversion period, include an initial investment of INR 550 million by March 2025 from the promoters. This represents 25 percent of the warrant subscription amount for future investments, pending approval from SEBI and shareholders. Additional commitments include INR 171 million from external investors with notable contributors such as Transaction Square LLP and Sai Geeta Penumetsa.

The phased investment plan allocates INR 600 million by March 2025, followed by INR 440 million by March 2026 and INR 730 million by March 2027. This capital infusion supports KEL’s goal of achieving a revenue target of INR 10 billion by 2029, a dramatic increase from its current revenue of INR 1.5 billion. The strategy also aims to raise the promoters’ stake in the company from 59 percent to 70 percent by 2027.

Since 2017, KEL’s promoters have steadily increased their stake from 49 percent to 59 percent with the current initiative boosting holdings by an additional 11 percent. Approximately 93.5 lakh new shares will be issued to promoters, bringing their total to 2.26 crore shares and increasing the company’s outstanding shares to 3.26 crore by July 2027. The investment is led by founder and chairman Arun Firodia, supported by family trusts—the Arun Firodia Trust and Jayashree Firodia Trust.

The infusion of capital and warrant issuance highlights the promoters’ confidence in KEL’s long-term strategy, enabling the company to enhance working capital, improve manufacturing capabilities, and accelerate innovation in high-growth areas such as electric vehicle (EV) components.

Driving Growth Through EV and Innovation
KEL’s aggressive growth strategy focuses on an expanded export business, a diversified portfolio and cost-reduction initiatives. The company is sharpening its focus on EVs through its subsidiary, Kinetic Watts & Volts, incorporated in September 2022. The subsidiary is developing advanced drivetrain solutions, gear systems, and other innovative products set to be unveiled soon.

To deepen its footprint in the EV sector, KEL is bolstering its developmental capabilities and exploring collaborations with OEMs. Its long-term strategy emphasises sustainable growth, enhanced domestic and international market presence, and maintaining leadership in the automotive components sector.

The promoters’ commitment to increased investment and stake expansion underscores their confidence in KEL’s future, positioning the company to capitalise on opportunities in the evolving mobility landscape. With a focus on innovation, value creation, and strategic execution, KEL is poised for transformational growth in a competitive market.

Commenting on the development, Firodia said, “Kinetic Engineering Limited has over 50 years of experience in manufacturing. It has successfully transformed into an auto components business and enjoys strong relationships with the world’s largest OEMs. Leveraging these long-standing partnerships, we expect to finalise significant business deals shortly. Additionally, we are heavily focused on the EV segment, with plans for our subsidiary, Kinetic Watts & Volts, nearing finalisation. These initiatives will drive an 8x to 10x revenue growth, and we are pleased to make this investment to meet the required capital expenditure, working capital, and growth initiatives. This infusion of capital from the promoters reinforces our growth blueprint, enabling us to take bold strides toward achieving our INR 1,000 crore revenue milestone. We are committed to using this investment to fuel innovation, improve operational efficiencies, and meet the evolving demands of the automotive and EV industries.”

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Tier 1 automotive supplier Forvia Hella has appointed Juan Manuel Molla as the new Managing Director Lighting and member of the Management Board, effective 1 March 2026.

He succeeds Bernard Schaferbarthold, who has held responsibility for the Business Group Lighting on an interim basis, and has stepped down from the Management Board on 15 February 2026.

Molla, joins the company with over three decades of experience in the automotive industry. He has held leadership roles at various manufacturers and suppliers, most recently serving as Chief Commercial Officer at Marelli.

In his new role at Forvia Hella, Molla will oversee the strategic development of the lighting business, focusing on market requirements and technological innovation.

Dr.-Ing. Wolfgang Ziebart, Chairman of the Shareholder Committee, said, “With Juan Manuel Molla, we are gaining a highly experienced leader who brings strategic foresight, many years of industry experience, and a deep understanding of the needs of our customers as well as of international markets to the company. We are therefore very pleased to welcome Juan Manuel Molla to Forvia Hella and are confident that he will successfully continue – and further accelerate – the strategic development of the Lighting business in a dynamic and challenging market environment.”

Juan Manuel Molla stated, “I am very grateful for the trust placed in me. The automotive industry is undergoing profound transformation – which will bring changes, but above all great opportunities for the future. Our goal is therefore to respond to new market requirements with agility and flexibility, to consistently strengthen our competitiveness, and to drive the development of lighting innovations that are technologically pioneering and yet affordable. The greatest asset of Forvia Hella’s Lighting business is the expertise of our colleagues worldwide. I look forward to working with them to tackle these tasks and to shape the future of the Business Group Lighting together.”

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Bengaluru-based TSUYO Manufacturing has launched its new portfolio of electric motor and powertrain technologies aimed at the light commercial vehicle market in India. The release focuses on modular design and local innovation to support electrification in the three-wheeler segment.

The company introduced its Gen 3.0 IPM motor and controller architecture, which it claims includes external Hall sensor placement and split-phase cabling to manage heat dissipation and reliability. The controller features an aluminium cast housing for thermal performance, an external bootloader for software updates and an LED system for diagnostics. The architecture also utilises upgraded MOSFET technology for high-performance applications.

TSUYO announced several technologies designed to improve vehicle efficiency and resource independence:

• Automated Manual Transmission (AMT): An AMT solution for electric three-wheelers intended to improve range, load handling, and gradeability.
• SynRM Motor: A patented magnet-less motor featuring a rotor architecture that reduces reliance on imported rare-earth materials.
• Hairpin Winding: This technology increases power density, claiming a 20% increase in performance and extended motor life.
• Axle Technology: A flat tube axle with a gear interface for L3 and Mini-L5 vehicles to improve load capacity.

Vijay Kumar, Co-Founder and CEO, Tsuyo Manufacturing, said, “India’s electric mobility journey, especially in the three-wheeler segment, demands solutions that are engineered for reality—not mere specifications on paper. At TSUYO, this launch represents a decisive step in moving India’s EV ecosystem from assembly-led adoption to engineering-led innovation. Every product we are unveiling today has been designed to address the unique operating conditions, cost sensitivities, and performance expectations of Indian vehicles and end users.”

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Tenneco Clean Air India has announced its financial results for Q3 and 9-month period FY2026. The company reported a 14.7 percent increase in value-added revenue (VAR) and a 24.8 percent rise in EBITDA compared to the same period last year.

Revenue from operations for the quarter stood at INR 12.85 billion, up 14.2 percent YoY, while profit after tax saw a decline of 5.3 percent YoY to INR 1.18 billion on the back of cost associated with new labour code implementation.

The company stated that it uses value-added revenue as its primary metric, which reached INR 11.94 billion.

Tenneco also announced that it has secured a contract to supply its DaVinci DCx suspension system to an Indian OEM (Mahindra) for an SUV platform. The program is estimated to generate INR 2.2 billion in annual revenue. The DaVinci technology utilises a mechanical design with discs to control hydraulic flow, avoiding the use of sensors or motors to manage ride quality.

Additionally, the company won a contract with a global commercial vehicle manufacturer for a modular BSVI aftertreatment system. This project has an annual revenue potential of approximately INR 1.15 billion.

Furthermore, the Board has approved the establishment of a greenfield Clean Air plant in Kharkhoda, Haryana. The project will see an estimated investment of INR 710 million, with production scheduled to begin in Q3 of FY2027. The facility is intended to support the light vehicle, off-highway and tractor segments.

Arvind Chandra, Whole-Time Director and CEO, Tenneco India, said, "The quarter demonstrated sustained execution across our business. We delivered strong business growth, resilient margins, and meaningful progress across Clean Air, Powertrain, and Advanced Ride Technologies. The selection of DaVinci DCx Suspension for a flagship SUV platform validates our product development approach and positions us to capture additional opportunities as OEMs seek to differentiate through ride quality. Unlike conventional systems, the DaVinci technology uses specially designed discs (or shim stacks) to control hydraulic flow, delivering consistent comfort across varying speeds and road conditions, achieved affordably and with a fast time to market."

Chandra also noted that the company's export order book covers 100 percent of projected FY2028 revenue, supported by tariff reductions in the US and EU.

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Posting a 21 percent revenue growth at INR 16,698 million as compared to INR 13,755 million during the same period last fiscal, Carraro India – a Tier-I solutions provider for axles, transmission systems, gears and other related components – has highlighted that it is transforming, innovating and leading across markets and technologies.

Announcing a 38 PAT increase at INR 889 million (which includes the impact of new labour code of INR 95 million) on the back of robust demand across domestic and export markets, the company has recorded an EBITDA (including other income) at INR 1,765 million, a growth of 28 percent on a year-on-year basis for the nine months’ of FY26 period with margins at 10.6 percent.

Witnessing a ramp-up of the new range of Tele Boom Handlers (TBH) axles for a major international OEM during the period under review (9Ms FY26), underlining healthy traction and strong visibility of sustained growth for the quarters to come, Carraro India also saw new projects with a domestic customer (global and Inda) contribute. This was about Tele Boom Handlers (TBH) family of axles during the respective period. This business too is expected to pan out well over the next quarters.

The company also experienced good traction in the area of backhoe loader transmission and axles. The sales of drivelines to construction equipment customers increased by approximately four percent during the nine months of FY26. It is during this period that construction equipment market declined by around five percent.

Receiving several enquiries for higher HP and technology configurations on the engineering services business side, the company signed an INR 175 million agreement with Montra for industrialisation and supply of e-transmissions.

The acceleration in shift from 2WD to 4WD tractors post GST reduction has resulting in a strong revenue growth during the nine months of FY26. Carraro India is ramping up capacity in anticipation of a sustained demand.

What was perhaps surprising was a subdued gears business performance during the respective period. In the nine months of FY26, a capex of INR 304 million was deployed to support new telescopic handler's axle production, high- performance new transmission range for agricultural applications and to grant incremental capacity for FY26 sales.

“Carraro India is not just performing – it is transforming, innovating and leading across markets and technologies,” said Dr. Balaji Gopalan, Managing Director, Carraro India Limited.

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