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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India Resurgence Fund (IndiaRF), an investment platform promoted by Piramal Finance and Bain Capital, has acquired a majority stake in Fine Edge Engineering, which houses the iron casting and machining business of Ashok Iron Works and its related entities.

Founded in 1974, the Belagavi, Karnataka-based Ashok Iron Works Group manufactures machined iron castings. The company operates four foundries with an annual capacity of 144,000 metric tonnes and seven machine shops capable of producing 600,000 parts per year.

The company manufactures engine blocks, engine heads and transmission housings weighing between 20 kilograms and 5,000 kilograms, with capabilities to machine engine blocks from single-cylinder to 18-cylinder configurations. Its products supply industrial engine, agricultural equipment and automotive manufacturing sectors.

Shantanu Nalavadi, Managing Director, IndiaRF, said, “IndiaRF is excited about the Company’s growth potential and sees significant opportunities to further strengthen its capabilities and scale the business. We will support the business through investments in capacity expansion, R&D, new product development and operational excellence, while building on its long-standing customer relationships. The Company is also well positioned to benefit from growing demand for high-horsepower engine applications, particularly as the global data centre build-out accelerates.”

Jayant Humbarwadi, Joint Managing Director, Ashok Iron Works Group, said, “Over the past four decades, we have built a strong position in the iron casting and machining industry, supported by long-standing customer relationships, strong R&D capabilities and a focus on meeting our customers' evolving requirements. We are a single- or dual-source supplier to most of our customers and are pleased to partner with IndiaRF, whose experience in transforming businesses will support the Company's next phase of growth.”

The transaction provides capital for capacity expansion and research and development activities, while positioning the manufacturing unit to meet supply demands across industrial and high-horsepower engine markets.

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Automotive tier 1 supplier Uno Minda has announced its financial results for Q1 FY2027, achieving INR 55.57 billion in consolidated revenue, up 26 percent YoY. Last year, the company attained normalised revenue of INR 44.20 billion (i.e. excluding prior period income of INR 690 million) in Q1FY2026.

The EBITDA came at INR 5.72 billion, net profit of INR 2.96 billion, up 24 percent YoY.

This company witnessed growth across its core product offerings, including switches, lighting, alloy wheels, seating, as well as its new-age EV systems and alternate fuel divisions.

Ravi Mehra, Managing Director, Uno Minda, said, “Q1 FY27 reinforces Uno Minda’s strategic trajectory as we continue to outperform the broader automotive market. The ongoing shift toward vehicle premiumisation, connected mobility, and electrification is fundamentally elevating per-vehicle content across segments. By aligning our R&D roadmap with these structural industry shifts and accelerating execution across our new-age platforms, we are not just participating in market growth—we are driving the technological evolution of the vehicle cabin. Backed by disciplined capital deployment and expanding capacity, we are exceptionally well-positioned to lead the next phase of mobility innovation”

Sunil Bohra, CFO, Uno Minda, added, “Q1 FY27 marks a historic milestone for Uno Minda, as we delivered our highest-ever quarterly revenues with 26% YoY growth and a 24% increase in PAT. While we navigated a challenging commodity pricing environment during the quarter, underlying demand across the automotive sector remains strong. Our resilient performance reflects the strength of our technology leadership, product diversification, and focus on operational efficiencies. Driven by multiple growth initiatives, strategic investments, and increasing momentum in our new-age businesses, we remain confident of delivering sustainable, profitable growth while creating long-term value for our shareholders and other stakeholders.”

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Automotive supplier BorgWarner has secured extensions for multiple high-voltage inverter programs with a European original equipment manufacturer (OEM). The contract covers inverter designs for plug-in hybrid and 800V battery-electric vehicle platforms, with the start of production planned for 2029.

Under the agreement, BorgWarner will supply updated high-voltage inverters for plug-in hybrid vehicles incorporating its Application-Specific Integrated Circuit (ASIC) technology, configured to interface with the OEM's vehicle operating system.

For 800V battery-electric applications, the company will supply traction inverters utilising its Viper silicon carbide (SiC) power switches paired with a dual-sided-cooled power module.

Isabelle McKenzie, President and General Manager, BorgWarner PowerDrive Systems, said, “Extending several high-volume programs at the same time confirms BorgWarner's leading position in power electronics and the strength of our technology, in-house expertise and customer focus. Evolving our inverters generation by generation together with our customers, for both hybrid and fully electric applications, is how we build trusted, long-term partnerships with the world's leading OEMs.”

The inverter families are developed to support power management across both hybrid and electric drive architectures.

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Automotive cable and shifter manufacturer Remsons Industries has appointed Rahul Prabhakar Desai as its new Chief Executive Officer, effective 3 August 2026. He succeeds Amit Srivastava, whose resignation takes effect at the close of business hours on 4 September 2026.

Desai comes with three decades of experience in automotive manufacturing, including 17 years in executive roles. Before joining Remsons Industries, he was Executive Director and Chief Executive Officer at Pinnacle Industries, overseeing five manufacturing facilities.

He previously served as Chief Executive Officer at CIE India, managing multiple business divisions and ten manufacturing plants, and held leadership positions at GKN Sinter Metals and Inteva Products.

Throughout his career, Desai has managed greenfield plant setups, manufacturing optimisation projects and supply partnerships with original equipment manufacturers. He holds a bachelor's degree in mechanical engineering, a Six Sigma Black Belt certification and has completed executive management training at the Indian Institute of Management Ahmedabad alongside technical programs in Japan and the United States.

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