Pavna Industries Limited has announced its financial results for the second quarter and first half of FY2024-25. The automotive components supplier has reported an operational revenue of INR 795 million in Q2 FY2024-25 as compared to INR 683 million in FY2023024, marking a year-on-year rise of 16.29 percent. The company has recorded an EBIDTA of INR 99.7 million for the same period as compared to INR 69.5 million in the corresponding quarter in the fiscal prior, marking a year-on-year rise of 43.53 percent. 
The EBIDTA margin registered by the company during the second quarter of FY2024-25 was 12.54 percent as compared to the EBIDTA margin of 10.16 percent during corresponding period in FY2023-24. The Profit After Tax (PAT) recorded during the second quarter of FY2024-25 was INR 33.7 million as compared to INR 19.1 million in Q2 of FY2023-24, marking an increase of 76.43 percent. 

H1 FY2024-25 results
Pavna Industries Limited reported an operational revenue of INR 76.9 million for the first half of the 2024-25 financial year, marking a quarter-on-quarter growth of 3.33 percent. The EBDITA was INR 78.9 million with a quarter-on-quarter growth of 26.34 percent. The PAT for H1 FY2024-25 was INR 22.5 million with a quarter-on-quarter increase of 49.77 percent. 
Commenting on the performance, Swapnil Jain, Managing Director, Pavna Industries Ltd, mentioned, "We are pleased to announce a robust performance for Q2FY25, which is a result of our expert strategic initiatives, strong market positioning, and operational resilience. As India cements its position as a global hub for auto component sourcing, Pavna Industries is well-positioned to contribute to and benefit from this momentum. We are especially encouraged by the government's ambitious targets for the electric vehicle market, with anticipated exponential growth targets set to make India the largest EV market by 2030. Our recent initiatives, including securing a land parcel in Pantnagar for a new greenfield plant and our recent fundraise, are aligned with our long-term vision of supporting India’s EV and automotive expansion. These developments, combined with our diversified and innovative product portfolio and proximity to key auto clusters, enable us to respond swiftly to the needs of our valued OEM clients. I am confident that Pavna Industries will continue to drive growth and deliver value for our stakeholders, as we advance our commitment to quality, innovation, and customer-centricity."

Samvardhana Motherson Automotive Systems Group B V, a wholly owned subsidiary of Samvardhana Motherson International Limited (SAMIL), is all set to acquire Japan-based company Atsumitec, a manufacturer of high-precision machined components such as gear shifters and transmission parts, for USD 57 million.

As part of the multi-phase agreement, Motherson will purchase 95 percent of Atsumitec's voting shares. Honda Motor Company will keep the remaining five percent. The acquisition is part of Samvardhana Motherson's strategy to expand its share of business with Japanese original equipment manufacturers and diversify its product portfolio. Along with giving the business access to global metal and machining skills, the move will strengthen its position in important markets, namely Vietnam.

The transaction is subject to Japanese authorities' merger control permission, and it is likely to be finalised by the first quarter of fiscal 2026, following multiple legal stages, including a share buyback from Honda Motor and the acquisition of Atsumitec's Indonesian unit.

Eurogrip Tyres has signed cricketer M S Dhoni as its brand ambassador. The tyre manufacture is of the opinion that Dhoni reflects its values of dependability, performance and passion as its brand ambassador. 
As the brand ambassador, the cricketer will endorse Eurogrip brand and the entire range of products hereafter. These consists of two-wheeler, three-wheeler and off-highway equipment tyres. 
With over four decades of expertise in tyre design and manufacturing, Eurogrip Tyres is offering an extensive range of products to suit varying needs and applications in India and other markets of the world. The company’s products are designed in Milan, Italy. They are also globally tested and certified.
Speaking about his new assignment, Dhoni averred, “Being associated with a brand like Eurogrip is truly exciting as this is a category that is very close to my heart. My love for motorcycles and riding began long before my cricketing journey, and over the years, I have had the chance to ride a variety of bikes – from timeless classics to top-of-the-line superbikes. Choosing the right tyres is essential for a safe and enjoyable ride and Eurogrip Tyres’ expertise in this domain stands out. I am looking forward to this exciting journey with Eurogrip.”
 

Tata AutoComp Systems, one of the leading automotive components manufacturers, has appointed Manoj Kolhatkar as its new Managing Director and CEO.

Kolhatkar marks his return to the Tata Group, where he had earlier spent 22 years across functions at Tata AutoComp Systems as well as Tata Motors. In his last role, he served as the MD of Gabriel India and later as Group Co-COO at Anand Group.

Arvind Goel, Chairman, Tata AutoComp Systems, said, “It gives me great pleasure to welcome Manoj Kolhatkar to the Tata AutoComp family. His extensive industry knowledge, visionary leadership, and track record of driving transformative growth align perfectly with Tata AutoComp’s mission to innovate and excel. As we navigate an exciting phase of expansion and diversification, Manoj’s strategic acumen and commitment to excellence will undoubtedly propel us to new heights.”

Manoj Kolhatkar, said, “I am deeply privileged to join Tata AutoComp Systems as Managing Director and CEO. TACO has established itself as a trailblazer in the automotive industry, and I am excited to lead the organisation in its next phase of innovation and global expansion. Together with our talented team and valued partners, we will strive to deliver transformative solutions, strengthen our foothold in diversified industries, and create sustainable value for all our stakeholders. I am committed to upholding TACO’s legacy of excellence while shaping a future of growth and opportunity.”

Pune-based component maker Carraro India has got final approval from the Securities and Exchange Board of India (SEBI) to raise INR 18 Billion through an Initial Public Offering (IPO).

Established as a subsidiary of Carraro in 1997, it started manufacturing transmission systems in 1999 and axles in 2000. The company has grown as a leading leading supplier of transmission systems for tractors and off-highway vehicles, and agricultural and construction equipment.

It operates two manufacturing plants in Pune: one for drivelines and one for gears. These facilities are equipped with advanced technologies for casting, machining, assembly, prototyping, testing, painting, and heat treatment. In FY2024, the company claims its driveline manufacturing plant had a capacity utilisation of 81.07 percent and gears manufacturing plant of 89.94 percent. It is a leading supplier to 38 manufacturers in India and counts the likes of CNH, TAFE, Mahindra and Mahindra, John Deere India, Escorts Kubota, Action Construction, and International Tractors among its clients.

Carraro India has also established a dedicated R&D unit christened Carraro Technologies India for new products.