Tier 1 supplier MAHLE has announced its financial results for 2024. The company shared despite a turbulent economic landscape and declining global sales, it ended 2024 on a resilient note with an EBIT of EUR 423 million, up from EUR 304 million in 2023, consolidated net profit saw a slight to EUR 22 million. Sales fell to EUR 11.7 billion, a 5.6 percent organic decline, driven by weak markets in Europe and North America and slower EV adoption outside China.

CEO Arnd Franz credited the gains to rigorous transformation efforts under the MAHLE 2030+ strategy, including streamlined operations, a sharper focus on electrification, thermal management and efficient combustion engines and a EUR 186 million reduction in debt.

While most business units saw declining revenues – such as a 9.9 percent dip in Thermal Management and 8.0 percent in Engine Systems – Aftermarket emerged as a bright spot with 6.2 percent growth, bolstered by strong performance in Asia-Pacific. MAHLE also improved its equity ratio to 20.1 percent, marking the first upward trend in five years, while reducing headcount in line with falling sales. The company’s innovation pipeline remained robust, with EUR 630 million invested in R&D, leading to 536 new inventions and 427 patent applications. Among 2024’s highlights was a bionic high-performance fan that cuts noise by half in electric and fuel cell vehicles, a new evaporative cooling system for fuel cell trucks and the integration of electric drive components in heavy truck axles.

Order momentum was strong, with EUR 10.3 billion in new bookings across all strategic areas and powertrain types. These included over EUR 1 billion in battery cooling systems and electric compressors. The company also introduced a new group structure to strengthen focus areas and improve internal agility, consolidating business units and streamlining leadership. MAHLE sees promising growth potential in non-automotive applications, driven by its expertise in thermal management and compact electric motors.

Looking ahead, the company remains cautious amid geopolitical tensions and calls for clearer regulatory support for technology diversity in Europe. Franz emphasised that with the right political and economic framework, MAHLE is well-positioned to continue creating jobs and shaping a sustainable mobility future.

Comments (0)

ADD COMMENT

Link Copied!

Chennai-based Sundram Fasteners has announced its unaudited financial results for Q1 FY2026, which saw the company report record profits and strong revenue growth. The company reported its highest-ever standalone revenue from operations at INR 13.50 billion, a slight increase from INR 13.10 billion a year ago.

The growth was primarily fuelled by a robust domestic market, with domestic sales rising 8.78 percent to INR 9.30 billion. However, export sales faced challenges, declining to INR 3.79 billion. Despite this, the company achieved its highest-ever EBITDA of INR 2.38 billion, with an improved margin of 17.5 percent, a result of better operational efficiency, stable commodity prices, and a favourable product mix.

Sundram Fasteners also posted its recorded net profit of INR 1.38 billion for the quarter. Consolidated figures also showed a strong performance, with the company recording its highest-ever consolidated revenue from operations at INR 15.33 billion and a consolidated net profit of INR 1.47 billion.

Arathi Krishna, Managing Director, Sundram Fasteners, said, "I am pleased to share that our first-quarter performance underscores the fundamental strength and resilience of our operations, as well as our unwavering commitment to delivering value to our customers. Compared to the same period last year, we have grown propelled primarily by robust domestic demand across our key segments. This progress is a testament to the dedication and expertise of our teams, who continue to drive operational excellence and uphold the highest standards of product quality. Their efforts have enabled us to successfully navigate an evolving and challenging market environment. Our export markets continue to pose challenges amidst global economic headwinds and ongoing geopolitical uncertainties. Despite these conditions, we remain confident in the competitive strength of our product portfolio and the durability of our long-term partnerships. We are further strengthening our foundation by prioritizing investments in innovation, capacity expansion, and customer engagement, ensuring we are well positioned for sustained growth in both India and International markets. We are closely monitoring the recent U.S. tariff decision. While the full impact is yet to unfold, I am confident in our ability to adapt and advance our presence in the U.S. market, reinforced by enduring customer relationships and our consistent commitment to quality.”

Comments (0)

ADD COMMENT

Link Copied!

German tier 1 supplier ZF has begun the production of its Electric Park Brake (EPB) system in India, which is being integrated by a leading Indian automaker in its recently launched electric passenger vehicle.

The company shared that the EPB system will support India’s growing shift towards electrification, safety and next-generation vehicle technologies. It also aligns with ZF’s strategy of ‘Make in India for India and the World’.

ZF’s EPB enables low drag and noise, vibration and harshness (NVH), along with improving fuel economy. Furthermore, integration of EPB represents a significant step in the electrification of mechanical systems, and when working in tandem with other vehicle systems, it enables advanced functions.

The EPB also enhances driver safety by allowing two-wheel anti-lock emergency stops and providing convenient activation with a simple touch of a button. Featuring dynamic actuation and brake pad wear sensing, it minimises degradation associated with traditional mechanical systems.

Its modular architecture enables scalability across vehicle segments, from passenger cars to light commercial vehicles and light trucks - offering Indian OEMs both performance and flexibility in vehicle design.

Akash Passey, President, ZF Group in India, said, “The SOP of ZF’s first Electric Park Brake in India, on a product like the all-new EV car platform, embodies ZF’s commitment to offer leading mobility solutions for local requirements. With advanced systems like the EPB, we are not only enhancing vehicle safety and performance but also supporting Indian auto makers in providing world class and safe products in India.”

Comments (0)

ADD COMMENT

Link Copied!

Bengaluru-headquartered engineering R&D company L&T Technology Services has been inducted in John Deere's Supplier Hall of Fame for achieving Partner-level Supplier Status for five consecutive years in the John Deere Achieving Excellence (AE) Program.

The company has consistently met John Deere’s benchmarks for quality, delivery and innovation, earning the Partner-level status for FY2020 through FY2024. In FY2021, the company was also named Supplier of the Year. The recognition highlights LTTS’ ongoing contribution across engineering and digital services for John Deere operations in North America and India. These services include digital solutions, product simulation, embedded software, mechanical design, cost management, advanced analysis and customer support.

Alind Saxena, Executive Director & President, Mobility & Tech, L&T Technology Services, said, “The induction into the John Deere Supplier Hall of Fame is a testament to our pursuit of excellence and innovation in the Mobility segment. Achieving Partner-level Supplier Status for five consecutive years reflects the depth of our engineering expertise and the trust John Deere places in LTTS. We remain dedicated to delivering cutting-edge solutions that not only meet but consistently exceed the expectations of our partners worldwide.”

Comments (0)

ADD COMMENT

Link Copied!

The Association of Indian Forging Industry (AIFI) has entered a strategic partnership with the Bureau of Energy Efficiency (BEE) under the Ministry of Power through a landmark MoU. Signed in the presence of Union Minister Manohar Lal, this collaboration aims to accelerate sustainable manufacturing practices in the forging industry under the Assistance for Deployment of Energy Efficient Technologies in Industrial Establishments (ADEETIE) scheme.

The ADEETIE initiative supports MSMEs in 14 energy-intensive sectors by facilitating access to cutting-edge energy-efficient technologies. With an INR 10 billion budgetary allocation, the scheme will catalyse over INR 90 billion in investments, including INR 67.50 billion in MSME financing. Eligible forging units can avail interest subventions of five percent (micro/small enterprises) and three percent (medium enterprises), along with technical assistance in energy audits and project implementation.

As a backbone of India’s automotive, defence and capital goods sectors, the forging industry faces significant energy challenges. This MoU positions AIFI as a bridge between MSMEs and government resources, enabling adoption of eco-friendly technologies. The alliance reinforces India’s commitment to sustainable industrial growth, helping manufacturers lower operational costs while aligning with national decarbonisation goals.

Yash Munot, President, AIFI, said, “This collaboration with the Bureau of Energy Efficiency marks a significant step forward for the Indian forging industry. As one of the most energy-intensive sectors, forging stands to benefit immensely from the structured support offered under the ADEETIE scheme. By enabling access to financial incentives and technical guidance, this initiative will empower MSMEs to adopt cutting-edge, energy-efficient technologies. It aligns perfectly with our vision of building a globally competitive, environmentally responsible and innovation-driven forging ecosystem. AIFI is committed to mobilising our members across clusters to take full advantage of this opportunity and contribute meaningfully to India’s broader sustainability and industrial growth goals."

Deven Doshi, Chairman – Government Interface, AIFI, said, “Energy efficiency is very essential for forging companies, but the MSME sector often faces structural barriers in adopting cleaner and more efficient technologies. The ADEETIE scheme provides a structured framework of support, including technical, operational and financial aspects, that directly addresses these challenges. AIFI is proud to be a partner in this transformative journey. This collaboration not only ensures sectoral compliance with energy norms but also paves the way for long-term industrial modernisation.”

Comments (0)

ADD COMMENT

Link Copied!