Shriram Pistons & Rings Limited (SPRL), one of India’s leading auto component manufacturing companies, is all set to acquire TGPEL Precision Engineering Limited, formerly known as Timex Group Precision Engineering Limited, through its wholly owned subsidiary, SPR Engenious Limited (SEL), to consolidate and strengthen its position in the manufacturing of high-precision injection moulded components.

With a debt-free, cash-free enterprise value of INR 2.2 billion, the proposed acquisition aligns with SPRL's long-term strategy to invest, diversify and expand its product portfolio in areas unrelated to ICE powertrains, solidifying its position as the industry leader. The transaction is pending customary approvals and conditions and is anticipated to be finalised by the end of December 2024.

TGPEL was founded in 2008 and has two modern production facilities in Noida, Uttar Pradesh. TGPEL's position in a variety of industries has allowed it to develop steadily year after year. TGPEL is well-equipped to design and develop high-tech precision moulds, manufacture high-precision injection moulding components, and manufacture tools internally. The company mainly provides OEMs and other automakers with injection-moulded goods and moulds. It is anticipated that TGPEL's sound financial metrics would add value to SPRL's overall consolidated financials.

Krishnakumar Srinivasan, MD & CEO, SPRL, said, “With this strategic investment, SPRL aims to consolidate its product portfolio beyond the current pistons, rings, engine valves, electric powertrain and precision plastic injection moulded parts. With its state-of-the-art mould development facility and setup for manufacturing of high-precision injection moulded parts, TGPEL will be able to service the domestic and global customers requiring precision moulded parts for automotive and other industrial applications. TGPEL has expertise to develop complex parts for various applications. By integrating SPRL’s manufacturing and engineering capabilities and strong reach with large customer base, there is scope for lot of synergies, which will help TGPEL to offer wider range of products and services to the growing Indian automotive market. This deal will only strengthen SPRL’s presence in the high-precision plastic injection moulding business, thereby ultimately benefitting our customers while creating long term value for all our stakeholders. This acquisition combines strong, technology-led manufacturing teams, allied in their pursuit of excellence to deliver world class manufacturing and moulding technology, which will enhance relationships with existing customers while creating additional opportunities for growth and expansion.”

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Tier 1 automotive component supplier Tata AutoComp Systems (TACO) has joined forces with Japan’s Ichikoh Industries (Ichikoh) to cater to the automotive lighting market in India. Ichikoh is listed on the Tokyo Stock Exchange Prime Market, wherein Valeo holds a 61.2 percent stake in the company.

As per the understanding, Tata AutoComp Systems and Ichikoh form a JV to acquire Valeo’s lighting business in India will see the partners acquiring Valeo Lighting Systems (VLS) business of Valeo India.

Arvind Goel, Vice Chairman, Tata AutoComp, said, “The formation of this Joint Venture would be another significant step by Tata AutoComp in offering contemporary products and technologies to automotive OEMs in India. We are pleased to welcome Ichikoh and the Valeo Group as our partner, and together with their automotive lighting expertise, we will offer technologically superior and differentiated lighting solutions to our customers.”

Manoj Kolhatkar, MD & CEO, Tata AutoComp, added, “The proposed Joint Venture will enhance our presence in the Indian automotive market and would enable us to serve various OEMs. This collaboration marks another milestone in Tata AutoComp’s journey of offering a comprehensive portfolio of auto-component products.”

Christophe Vilatte, Representative Director, President and CEO, Ichikoh, said, “Ichikoh, with more than 120 years history of technological excellence, will join forces with a new

partner Tata AutoComp, strongly established with its reputational excellence.  Capitalising on our respective strength, we will be well positioned to address the fast-growing automotive market in India.”

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German tier 1 supplier Continental has reported its financial performance for Q2 CY2025, with significant improvements in its Automotive sector and a strong performance from its Tires and ContiTech divisions.

The company reported consolidated sales of EUR 9.6 billion, a slight decrease from EUR 10 billion in the same period last year. However, the company's adjusted operating result was EUR 834 million, corresponding to an adjusted EBIT margin of 8.7 percent.

Nikolai Setzer, CEO, Continental, said, "We’ve worked hard to make our group sectors more resilient and more agile. In a highly volatile economic environment, this hard work is now paying off. As a result, the Automotive group sector has positive momentum ahead of its spin-off in September.”

The Automotive sector saw its earnings improve significantly, with an adjusted EBIT margin of 9 percent. The company shared that even without the application of IFRS 5 accounting standards, which no longer factor in depreciation for the spin-off, the margin would have been 4.0 percent, a notable increase from the 2.9 percent reported in Q2 CY2024. The sector's earnings were at the upper end of its full-year outlook despite declining automotive markets in Europe and North America.

This improved performance was driven by rigorous cost-cutting and sustained price adjustments. The Automotive sector also secured a strong order intake of EUR 5.7 billion for the quarter, exceeding its sales figures.

The Tires sector achieved an impressive double-digit adjusted EBIT margin of 12 percent, demonstrating its stability in the face of strong headwinds from tariffs and exchange rates. The division's quality was recently recognised in Germany, where its tyres were voted ‘Quality Winner 2025.’

The ContiTech division also showed resilience, with its adjusted EBIT margin increasing to 5.8 percent, up from 5.4 percent in the first quarter of the year. The company attributed this to increased industrial demand and stricter cost discipline.

Olaf Schick, CFO, Continental, said, “We continue to see solid earnings in all areas. Our adjusted operating result and adjusted free cash flow increased year-on-year in the first half of 2025. Continental is on the right track – despite constantly changing conditions.”

The company announced its Automotive group sector christened 'Aumovio' is set to become an independent company on 18 September 2025.

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German technology major Bosch has reported a 10.9 percent YoY increase in total revenue from operations to INR 47.89 billion (EUR 494 million) for the first quarter of FY2025–26, driven by strong demand in the off-highway and passenger car segments.

Profit Before Tax (PBT), excluding exceptional items, rose 37.2 percent to INR 8.38 billion (EUR 86 million), accounting for 17.5 percent of total revenue. The company attributed the increase to a favourable product mix. Including exceptional items, PBT stood at INR 13.94 billion (EUR 144 million), or 29.1 percent of revenue.

During the quarter, Bosch completed the sale of its Video solutions, Access and Intrusions and Communication systems business, resulting in a one-time gain of INR 5.56 billion (EUR 57 million), reported under exceptional items. The Profit After Tax (PAT), including the gain, stood at INR 11.15 billion (EUR 115 million), representing 23.3% of revenue.

Guruprasad Mudlapur, President of Bosch Group in India and MD, Bosch, said, “Our performance in the first quarter reflects strong growth, driven by increased revenue, higher demand in passenger cars and a reduction in material costs enabled by favourable product mix. This results from our consistent efforts to strengthen our core businesses while remaining focused on future-ready technologies.”

During the quarter, automotive segment product sales grew by 14.3 percent YoY, with the Power Solutions business – forming the bulk of these sales – rising 13.7 percent on the back of strong off-highway demand and moderate growth in the passenger car segment.

Mobility Aftermarket business revenue rose 5.2 percent, supported by increased demand for gasoline systems, comfort electronics and wiper systems.

However, the Beyond Mobility segment saw a 9.3 percent decline, impacted by the divestment of the Building Technologies business as part of Bosch’s global portfolio restructuring.

“Despite global challenges, we remain optimistic about the opportunities ahead. Bosch is investing decisively in hydrogen, electrification, and digital services – positioning itself at the forefront of sustainable mobility. As India moves toward a smarter, cleaner future, we remain a trusted partner in delivering long-term value and innovation-led growth,” Mudlapur concluded.

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Sona BLW Precision Forgings (Sona Comstar) has reported its financial results for Q1 FY2026, posting a 5 percent YoY decline in revenue to INR 8.50 billion. The Profit after tax stood at INR 1.24 billion, down 12 percent from the previous year, while EBITDA fell by 19 percent to INR 2.02 billion, with a margin of 23.8 percent.

During the period, the revenue from Battery Electric Vehicles (BEVs) dropped 25 percent YoY to INR 2.10 billion, accounting for 28 percent of the total revenue. However, EV programmes now contribute 75 percent of the company’s INR 262 billion net order book as of the end of the quarter.

Vivek Vikram Singh, MD and Group CEO, said, "Q1 FY2026 was a challenging quarter for us due to the convergence of multiple adverse factors, which are temporary and some have started to resolve already. We ended the quarter with a few large order wins, closing the quarter with an all-time high net order book. We have received a large order from a North American OEM to supply differential assemblies. This is our largest order win in the last two and a half years. We believe this is likely to be one of the most significant and successful EV launches in many years. We have strengthened our position as the leading supplier of drive motors for electric two- and three-wheelers in India by securing another order from our existing customer for their upcoming electric three-wheelers. We have recently signed a term sheet with JNT to form a JV in China. This JV marks a significant step in our strategy to expand into the rapidly growing Asian markets. With a robust order book already in place, we expect operations to commence later this year.”

During the quarter, the company secured two new EV programmes, bringing its total to 60 across 32 customers. Among the key developments was a new joint venture with China’s Jinnaite Machinery (JNT), signed on 20 July. Under this JV, Sona Comstar will invest USD 12 million, while JNT will contribute USD 8 million in assets and business. The JV aims to manufacture and supply driveline systems to automotive OEMs in China and globally, with operations expected to begin in the second half of FY2026.

Additionally, Sona Comstar received an INR 15.5 billion order from a North American OEM to supply differential assemblies for a new electric passenger vehicle platform, with production set to start in Q3 FY2028. A separate order from an Indian OEM for drive motors for electric three-wheelers added INR 2.6 billion to the order book, with production expected to begin in Q4 FY2026.

The company also completed the acquisition of the Railway Equipment Division from Escorts Kubota on 1 June 2025. The business has been fully integrated and its financials consolidated from that date.

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