RSB Group, one of India’s largest automotive component manufacturers, is celebrating its 50th anniversary and has plans to honour the decades of innovation, resilience and growth by achieving 3X growth in the next three to four years.

RSB Group was founded by brothers R K Behera and S K Behera in 1974 with just INR 200,000, which included a state subsidy for Technocrats for INR 20,000. The company has now expanded into an INR 30 billion-plus industry major, employing more than 6,000 people, and plans to celebrate the 50-year milestone by focusing on surpassing the INR 100 billion revenue mark before launching an IPO in the next 3-4 years.

These expansion aspirations will be greatly aided by a recent strategic alliance with Bain Capital, which made an investment in RSB a few months ago. With a strong emphasis on global markets, especially when it comes to growing operations in Mexico, this partnership will help both organic and inorganic growth. At the moment, RSB runs two factories abroad, 17 manufacturing sites in India and a tech subsidiary called I-DESIGN Engineering Solutions Ltd in Pune. Major domestic and foreign customers of the firm include Ford, Fiat, Isuzu, Cummins, John Deere, Volvo, Renault Nissan, JCB, Ashok Leyland, Mahindra & Mahindra and Tata Motors.

Early difficulties notwithstanding, RSB's journey acquired tremendous impetus with a crucial contract from Tata Motors, which resulted in growth of almost 75 percent annually until 1990 and a steady 25 percent CAGR after that. In order to give OEMs a comprehensive solution and establish itself as a powerful player in the e-mobility industry, RSB is also investing in the electric vehicle (EV) market as part of its sustainable growth plan. RSB is working with an Israeli startup to create EV solutions, such as controllers, motors, and e-axles. Over the next five years, the business plans to generate 25 percent of its income from EV components and 75 percent from conventional car components as part of a strategic revenue mix.

R K Behera, Chairman, RSB Group, stated, “Looking back on 50 years of RSB, I am deeply grateful for the journey we’ve taken. The celebration is not just about marking a milestone; it’s a tribute to the humble beginning, to the dedication and shared values that have brought us here. This journey wasn’t one I took alone; it was built alongside my brother, S K Behera, whose support and determination carried us through our most challenging times. In the beginning, we faced intense struggles – limited resources, financial setbacks and constant hurdles – but with SK by my side and the unyielding spirit of our employees, we persisted. Every success is truly a testament to the sacrifices, resilience and dedication of our RSB parivar. As we look forward, I urge our next generation to hold fast to these values of integrity, quality and respect. They are also expected to have a strong focus on sustainability. Together, we have not only achieved growth but also built a legacy that we can proudly pass on, impacting our communities and industry for years to come.”

S K Behera, Vice Chairman, RSB Group, said, “Our journey from a small workshop to an industry leader with an INR 30 billion-plus revenue base has been one of resilience, strategic vision and a focus on excellence. From the earliest days, we were guided by the belief that taking care of our people would allow us to achieve remarkable things. Every milestone reflects the hard work, talents and sacrifices of our employees, whose dedication and commitment have driven RSB forward. As we now embrace new opportunities – from electric vehicle technology to expanding into international markets – our focus remains on building with integrity and quality. Looking to the future, we will continue setting new industry standards, not just for growth but for creating lasting value and impact in every market we enter. We are exploring a few opportunities, and a decision will be taken in a few months.”

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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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American tier 1 supplier BorgWarner has announced that it has bagged a new order from a major Chinese original equipment manufacturer (OEM) for its electric motors.

As per the understanding, BorgWarner will supply a platform-based design, compatible across a full range of NEV applications, including battery electric and hybrid models. It also incorporates BorgWarner’s innovative ultra-short hairpin welding process, which reduces end-turn height for a more compact structure and significantly improves space utilisation.       

Dr Stefan Demmerle, Vice-President, BorgWarner Inc and president & General Manager, PowerDrive Systems, said, “We are pleased with the continued progress of our electric motor business in China. Our partnership with this customer spans nearly a decade. BorgWarner remains committed to delivering smarter, more efficient motor solutions as we work together toward an electrified future.”

Furthermore, to meet rising demand from the Chinese automotive industry, BorgWarner is expanding its motor operations and early this year it signed a MoU with the Wuhu municipal government to establish a new manufacturing base for electric drive systems.

Once on stream, the facility will feature intelligent manufacturing lines capable of producing multiple motor platforms on shared lines, increasing motor capacity and laying a solid foundation for scaled delivery.

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