Pune-headquartered tier 1 supplier Varroc Engineering has announced its financial results for FY2025, with revenue of INR 81 billion, up 8 percent YoY.

The company reported profit after tax of INR 1.69 billion, which was down 46 percent YoY, as compared to INR 3.15 billion for same period last year. This the company attributed due to an exceptional item worth INR 1.47 billion on the back of restructuring of subsidiaries and exit from its joint venture in China.

For Q4 FY2025, the company reported revenue of INR 20.99 billion, up 11 percent YoY, profit after tax of INR 1.03 billion.

Tarang Jain, CMD, Varroc, said, "India has now become the 4th largest economy, and the GDP had a steady growth of 6.2 percent in Q3 FY2025. Softening of Inflation in the last few quarters and interest rates reduction globally encouraged our Central Bank to reduce Repo rate by 50 basis points. Weak growth in consumption, on top of global and regional conflicts and uncertain tariff regime, may impact discretionary spending which can have impact on automotive Industry. However, we remain confident about the medium-to-the-long-term growth prospects of automotive industry.”

He revealed that in FY2025, the company filed 25 patents of which more than 10 patents were already granted to Varroc, bringing the total filings to more than 120 for the company.

“We continue to strengthen our balance sheet and return ratios. The net debt of the company in FY2025 was reduced by INR 2,348 million and as a result the net debt to equity was reduced to below 0.5x at the end FY2025 from 0.64X at the end of FY2024. The absolute net debt figure was INR 7,480 million. ROCE (before tax) for FY2025 was 20.8 percent and free cash flow generation was also healthy at INR 3,116 million or 3.8 percent of revenue before growth CAPEX in land,” he added.

IN FY2025, the company also won new business wins estimated to add INR 11,734 million in revenue, with electric vehicle constituting more than 55 percent of it.

“It is more heartening to see business wins in our overseas operations also, which will improve profitability from FY 27 onwards. Our continuing focus on revenue growth, improvement in gross margin, control on fixed cost and optimization of capex and working capital will enable us to generate healthy free cash flows in the future also,” concluded Jain.

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Indian-origin lubricant manufacturer NDTH Energy has significantly advanced its global standing with the Volvo VDS-3 approval for its EnerG G Force XL engine oil. This prestigious certification confirms the lubricant's compliance with some of the most stringent international performance standards for heavy-duty engines, specifically in areas like extended oil drain intervals, superior engine wear protection and enhanced fuel efficiency for commercial vehicles.

This achievement is a major endorsement, positioning NDTH among a select group of global lubricant companies and greatly strengthening the product's acceptance worldwide. It follows another notable milestone for the company, which was the first from the country to secure the demanding Mercedes-Benz MB 229.51 and MB 229.52 certifications for its fully synthetic engine oil. These accomplishments collectively underscore the company's consistent ability to develop products that meet exacting original equipment manufacturer specifications.

Complementing its innovation in lubricants, NDTH Energy has also formed a strategic partnership with German additive specialist GAT GmbH. This collaboration has introduced the GAT X EnerG line of automotive care products, including fuel system cleaners and engine flushes, to the Indian market. This initiative supports the national Atmanirbhar Bharat mission by elevating domestic capabilities in the automobile sector.

Navkaran Singh Sethi, Founder, NDTH Energy, said, “This achievement is a proud moment for NDTH Energy as an Indian-origin brand making its mark on the global stage. The Volvo VDS-3 approval underscores our commitment to engineering excellence, quality and sustainability while showcasing the capability of Indian manufacturers to meet the most rigorous international standards.”

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Aligarh-headquartered automotive component maker Pavna Industries is forming a a 80:20 joint venture with Taiwan-based SmartChip Microelectronic Corporation (SMC).

As per the understanding, Pavna will undertake and carry on the business of inter-alia making electronic components for the automobile industry (ICE & EV) and other industries, including hardware for residential/commercial industries, aero and medical, among others in India.

The JV will leverage Pavna’s operational, manufacturing and procurement expertise, as well as its deep understanding of the Indian automotive market, to oversee and manage the operations in India.

On the other hand, SMC will contribute its present and future technical skills, innovations and R&D capabilities in automotive e-lock systems, EV components like motor controller, throttle body, dashboard for two-wheeler & three-wheeler, EV charging piles and e-locking solutions for residential and commercial applications. SMC’s engineering and product development expertise will ensure the JV remains technologically advanced and globally competitive.

Swapnil Jain, Managing Director, Pavna Industries, sai,d "This strategic partnership is an important milestone on our path to emerging as a mobility solutions leader in advanced technologies. By merging Pavna's manufacturing and market capabilities with SMC's state-of-the-art electronics knowledge, we expect to speed up the penetration of EV technologies in India as well as grow into new high-growth markets. With this partnership, we will also further enhance our capacity to serve domestic and global markets with innovative, dependable, and sustainable solutions."

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Gulf Oil Lubricants India Limited, a Hinduja Group company, has announced its unaudited financial results for the quarter ended 30 June 2025, reporting its highest-ever quarterly volume, revenue, and EBITDA. The company achieved double-digit volume growth, which was more than three times the industry growth rate. Consolidated quarterly revenue exceeded INR 10 billion for the first time.

On a standalone basis, the company's revenue from operations was INR 9.96 billion, a 12.57 percent increase YoY, with a Profit After Tax of INR 9.6 billion, up 9.81 percent YoY. Consolidated revenue reached INR 1.01 billion, an increase of 13.69 percent YoY and PAT grew by 12.90 percent to INR 951.7 billion, . The company's EV charger subsidiary, Tirex, also saw significant growth, with its revenue for the quarter increasing by over 163 percent.

Strategic Developments and Outlook

The Board of Directors has approved an INR 550 million capital expenditure (Capex) plan to increase manufacturing capacity by 70 percent, from 140 million litres to 240 million litres. This expansion will be spread over two years and is a key strategic initiative to support the company’s growth ambitions. The Silvassa plant's capacity will increase by 55 percent to 140 million litres, while the Chennai plant's capacity will double to 100 million litres.

Ravi Chawla, Managing Director and CEO, Gulf Oil, said, “The year began on a strong note, delivering yet another market leading performance achieving double-digit volume growth of 11% during the quarter, clearly over 3x the industry growth rate. This underscores the strength of our brand and continued trust of our consumers. Our EV charger subsidiary, Tirex, continued to perform well and closed the quarter with over 163 percent growth in topline catering to broader customer base."

Manish Gangwal, CFO, Gulf Oil, added, "We are quite excited to see our consolidated revenue crossing INR 10 billion as we concluded the quarter with highest-ever volume, revenue and EBITDA, driven by strong strategic execution resulting in profitable, volume-led growth.” He also noted that the company's operating profit for the quarter was Rs. 126.58 crores, a growth of 8.9% over the same period last year.

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Minda Corporation, the flagship company of tier 1 supplier Spark Minda, has announced its financial results for Q1 FY2026 with revenue of INR 13.86 billion, up 16.2 percent YoY, EBITDA of INR 1.56 billion, EBITDA margin of 11.3 percent and a net profit growth of 4.7 percent at INR 650 million.

The tier 1 supplier attributes the growth to its strong product portfolio, expanding customer base and a focus on product premiumisation.

During the period, Minda Corporation also entered into an agreement with Toyodenso to establish a 60:40 joint venture in India for manufacturing and selling of advanced automotive switches.

It aims to provide end-to end solutions for automotive switches across two-wheelers, passenger cars and other automotive segments in India. The new JV has already received orders from customers in India with a greenfield plant to be set up in Noida. The operations are expected to commence in H2 of FY2027.

Furthermore, Minda Corporation also inked a collaboration with Qualcomm to co-develop Smart Cockpit Solutions.

Ashok Minda, Chairman and Group CEO, Minda Corporation, said, “The first quarter of FY26 witnessed a strong performance, supported by resilient demand across key vehicle segments. Leveraging our focus on operational excellence, technology integration, and customer-centric initiatives, we continued to strengthen our market position. As we progress through the year, we remain focused on expanding our market reach, enhancing exports, and delivering sustainable value to our stakeholders through consistent execution and strategic initiatives.”

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