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."

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Iochpe-Maxion, a world leader in automotive wheels production and a leading producer of automotive structural components in the Americas, has received official validation from the Science Based Targets initiative (SBTi) for its net-zero emissions strategy. This approval confirms that the company’s climate goals are consistent with the ambition to limit global warming to 1.5°C and achieve net-zero emissions by 2050 at the latest.

The SBTi has classified both the company’s near-term and long-term targets for Scope 1, 2 and 3 emissions as aligned with 1.5°C mitigation pathways. Iochpe-Maxion has committed to reducing its absolute Scope 1 and 2 emissions by 63.2 percent by 2030, using 2019 as a base year. Over the same period, it will also cut its absolute Scope 3 emissions from purchased goods and services by 25 percent, using a 2024 baseline.

By 2040, the company aims to achieve net-zero greenhouse gas emissions across its entire value chain. This long-term objective involves a 90 percent reduction in both Scope 1 and 2 emissions from the 2019 baseline, and a 90 percent cut in Scope 3 emissions from the 2024 baseline.

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The Automotive Component Manufacturers Association of India (ACMA), the apex body representing the Indian auto component industry, has appointed Vikrampati Singhania, Managing Director, JK Fenner (India), as President, ACMA for the 2025–26 term.

He succeeds Shradha Suri Marwah, who had been leading ACMA for the president. In addition, Sriram Viji, Managing Director, Brakes India, is the next President Designate.

Vinnie Mehta, Director General, ACMA, said, “The appointment of Vikrampati Singhania as President and Sriram Viji as President Designate comes at a decisive moment for our industry. The auto component sector is navigating geopolitical volatility, supply chain realignments, and accelerating electrification. Their proven leadership will be invaluable in steering ACMA’s agenda on strengthening India’s global competitiveness, securing critical raw materials, and fostering R&D and innovation. I am confident that under their stewardship, ACMA will further our industry’s vision of building a resilient, sustainable, and future-ready mobility ecosystem.”

Vikrampati Singhania, said, “It is a privilege to lead ACMA at a time when India is rapidly emerging as a trusted global partner in mobility value chains. With exports crossing record highs and EV adoption reshaping the market, our task is to strengthen resilience and competitiveness. We must deepen localization, invest in advanced technologies, and embrace sustainability as a core business imperative. Together, with the government’s continued support and our industry’s commitment, we will work towards making India not only self-reliant but also a global leader in the next generation of mobility components.”

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Delhi NCR-based component maker Sterling Tools, through its subsidiary, Sterling Gtake E-Mobility (SGEM), is foraying into the EV On-board Chargers and DC/DC converter for electric vehicles space. 

The company has inked a technology license and supply agreements with Landworld Technology Co, China to locally manufacture on-board chargers, DC/DC convertors and Multi-Function Units (incorporating On-Board Chargers, DC/DC converters as well as Power Distribution Units (PDUs)).

Sterling Tools estimates that the market size to reach around INR 30 billion by FY2030, while the revenue from the partnership to achieve INR 4.5 billion respectively.

The company will manufacture the crucial products required in the passenger and commercial vehicle segments at its EV campus in Faridabad.

Anil Aggarwal, Chairman, Sterling Tools, said, “This partnership creates greater depth in the EV ecosystem in India. We are expanding beyond our initial Motor Control Unit and powertrain platforms to meet our customer’s growing demand for advanced technology in the EV sector. EV sub-systems are being increasingly consolidated into multifunction units and Sterling hopes to offer our customers greater choices for stand-alone and multifunction units to cover multiple (vehicle) functions. The Sterling Group will continue to extend excellent technical and application support to its customers to help drive greater adoption of EVs in India.”

Lin Chen, Vice General Manager, Landworld Technology Co, said, “India’s EV market offer’s immense potential for growth and innovation. Through our partnership with Sterling Gtake, we are bringing our proven expertise in On-Board Chargers and DC/DC converters to Indian customers across several EV vehicle categories. Together, we aim to create high-quality solutions that cater to India’s EV market while contributing to the country’s self-reliance and sustainability goals."

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The Automotive Component Manufacturers Association of India (ACMA) convened its 65th Annual Session in New Delhi, focusing on the theme ‘Navigating Geopolitical Challenges - Creating a Resilient Automotive Supply Chain in India’. The event brought together senior policymakers, global leaders, and industry captains, including Nitin Gadkari, H D Kumaraswamy, Piyush Goyal, and Maros Sefcovic.

In her opening address, ACMA President, Shradha Suri Marwah, emphasised the industry's resilience. She stated, “India’s auto component sector expanded beyond USD 80 billion in FY25, with exports crossing USD 23 billion – a testament to our growing reputation as a trusted global partner".

She also acknowledged the challenges ahead, adding, "Yet the road ahead demands greater resilience as we navigate geopolitical headwinds, technology disruption, and sustainability imperatives".

A key highlight was the release of an ACMA–McKinsey study, which projects the industry will reach USD 200 billion by 2030.

H D Kumaraswamy noted the government's strong policy push, saying, “Bold reforms such as the PLI scheme have already attracted over INR 295 billion in investments and created more than 45,000 jobs, far exceeding expectations".

At the valedictory session, Nitin Gadkari underlined the long-term vision for the industry. He stated, “Our goal is to make India the world’s leading hub for smart, safe, sustainable, and affordable mobility by 2030".

Piyush Goyal reaffirmed India’s growing role as a trusted global partner, asserting, “As global trade undergoes disruption, India and the EU are working towards a fair and balanced Free Trade Agreement that will strengthen our partnership for decades". H.E.

Maros Sefcovic stressed the importance of India-EU collaboration, adding, "A balanced Free Trade Agreement will be a win-win, unlocking greater market access, high-value investments, and new technologies for both regions". The session saw over 1,200 delegates in attendance.

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