Automotive component supplier Sterling Tools has announced its financial results for FY2025. The company’s consolidated total income for FY2025 rose by 10.6 percent YoY to INR 10 billion milestone for the first time at INR 10.38 billion. Adjusted EBITDA grew 13.8 percent YoY to INR 1,324 million, with margins improving to 12.8 percent and net profit increased by 5.3 percent to INR 583 million.

On a standalone basis, total income stood at INR 6,516 million, up 6.2 percent YoY and net profit came at INR 429 million, up 10.5 percent YoY, with an EBITDA margin of 14.5 percent.

Despite a strong annual performance, Q4 FY2025 revenues for its subsidiary Sterling Tools Gtake E-Mobility were impacted by Ola Electric’s shift to in-house motor production. In response, it has ramped up product and customer diversification. Key developments include a technology licensing agreement to manufacture rare earth/permanent magnet-free motors in India – offering an alternative to China-dependent supply chains.

Further, Sterling Tools Gtake E-Mobility plans to expand into integrated motor-controller solutions and additional power electronics products. Through another subsidiary, Sterling Tools, the company will begin production of HVDC contactors and relays by Q2 FY2026 in collaboration with Kunshan GLVAC. It is also in advanced talks to form a joint venture with South Korea’s MotiveLink to manufacture magnetic components in India.

Atul Aggarwal, Managing Director, Sterling Tools, said, "Agreements on the introduction of other Power Electronics products are in the pipeline and, at least one, will be announced in the near future. The company continues to also work on two-wheeler, three-wheeler and commercial vehicle customers to expand sales of its Motor Control Units. Through our subsidiary STML, we plan to begin production of HVDC Contactors and Relays by the end of Q2 FY2026, in partnership with Kunshan GLVAC Yuantong New Energy Technology. We are also in advanced discussions to establish a joint venture with MotiveLink (erstwhile Yongin Electronics) to manufacture magnetic components in India. These initiatives are expected to drive future growth. Looking ahead, the standalone business is expected to continue its stable growth trajectory, maintaining high single-digit growth. Collectively, these strategic moves will enhance our EV product portfolio, promote import substitution, and align with the government of India’s Atmanirbhar Bharat vision. We remain committed to delivering long-term value through a combination of organic growth and strategic partnerships.”

Agreements on the introduction of other Power Electronics products are in the pipeline and, at least one, will be announced in the near future. The Company continues to also work on 2W, 3W and Commercial Vehicle customers to expand sales of its Motor Control Units. Through our subsidiary STML, we plan to begin production of HVDC Contactors and Relays by the end of Q2 FY26, in partnership with Kunshan GLVAC Yuantong New Energy Technology Co. Ltd. We are also in advanced discussions to establish a joint venture with MotiveLink Co. Ltd. (Erstwhile Yongin Electronics) to manufacture magnetic components in India. These initiatives are expected to drive future growth. Looking ahead, the standalone business is expected to continue its stable growth trajectory, maintaining high single-digit growth. Collectively, these strategic moves will enhance our EV product portfolio, promote import substitution, and align with the Government of India’s Atmanirbhar Bharat vision. We remain committed to delivering long-term value through a combination of organic growth and strategic partnerships.”

The company expects its core fastener business to maintain high single-digit growth while future-ready investments drive expansion in the EV segment.

Comments (0)

ADD COMMENT

Link Copied!

German multinational chemical company Henkel has announced the appointment of Pradhyumna Ingle as Country President for India. Based in Navi Mumbai, he will lead the company’s growth strategy, market expansion and innovation initiatives.

Pradhyumna will balance his new responsibilities with his existing global leadership roles within Henkel Adhesive Technologies, where he serves as: Global Head – Infrastructure Protection & Repair and IMEA Head – Manufacturing & Maintenance.

He succeeds S. Sunil Kumar, who has led Henkel India for the past five years and will now relocate to Dubai to oversee strategic projects for the IMEA region alongside his duties as Director of Packaging for IMEA.

The company says Pradhyumna comes with over 25 years of leadership experience across multiple regions, including the Asia Pacific, North America and the Middle East & Africa. He has rich experience in driving acquisitions, digital business models and high-performance organisations.

Ashraf Elafifi, IMEA President, Henkel, said, “Pradhyumna brings a unique combination of global perspective, deep market understanding, customer-centricity, and proven leadership in driving transformation and sustainable growth.”

Pradhyumna highlighted the potential of the Indian market, noting that Henkel is positioned to contribute to sectors such as infrastructure, mobility, electronics and energy.

“I am excited to work with our talented teams across India to further strengthen our market position, expand our local innovation capabilities, and deliver sustainable growth for our customers, employees, partners, and communities,” said Pradhyumna.

Comments (0)

ADD COMMENT

Link Copied!

Switzerland-based international technology and market leader in electrolamination stamping, fineblanking and forming company Feintool has officially inaugurated its first manufacturing site in India, located in Pune.

The facility, which has begun ramping up production, is designed to support the local automotive market with high-precision fineblanked components. The company had earmarked an initial investment of CHF 15 million (approx USD 19 million) towards the facility, which will produce seat adjusters for various major automotive manufacturers in India.

The company has adopted a ‘local-for-local’ approach, allowing it to supply automotive customers directly within the Indian market. This move is intended to reduce reliance on long-distance supply chains and respond to the growth of India’s automotive sector, which is the third-largest in the world.

Lars Reich, CEO, Feintool, said, “Feintool is proud to meet its customers’ demand for local production in India with the facility in Pune. We are in the right place at the right time to benefit sustainably from the momentum in the Indian automotive industry and to capitalise on further opportunities in the growing industrial markets in India.”

Initial operations at the Pune site are focused on the production of fine-blanked automotive seating systems. However, the facility is designed to support future expansion into additional core technologies, including cold forming, e-lamination stamping (for e-motor cores) and hydrogen applications.

Tobias Gries, Managing Director, Feintool India, said, “We have established a strong team in India. With Feintool’s global expertise, we are now ramping up production in Pune—starting with fineblanked automotive seating systems. Looking ahead, we are ready to expand into cold forming, e-motor core production and even hydrogen applications. The plant is fully prepared for further expansion as demand develops.”

This new site joins Feintool’s network of 18 production facilities across Europe, Asia, and the United States.

Comments (0)

ADD COMMENT

Link Copied!

BOS and JRG Automotive Industries India have formed a new joint venture christened ‘BOS-JRG Automotive Systems’, which combines engineering and manufacturing resources. The partnership aims to supply shading and cargo management systems to the Indian automotive market.

As per the understanding, the new JV will see BOS hold a 60 percent stake in the venture, while JRG Automotive will hold 40 percent. The partners have made an initial investment of over USD 1 million, with an aim to generate USD 15 million in revenue within five years.

The partners have established a manufacturing facility in Bawal, Haryana, which went on stream on 10 June 2026. This site utilises production lines based on BOS systems, supported by the tooling, injection moulding and supply chain network provided by JRG. Series production is scheduled to begin in December 2026. The initial product range includes side window sunshades and tonneau covers, with plans to expand into other interior and mechatronic systems.

Pawan Goyal, Managing Director, JRG Automotive Industries India, said, "This partnership reflects our shared vision of building a world-class automotive systems company in India, combining global technology, strong localisation and a commitment to long-term value creation for customers."

Nicolaus Francke, Director, BOS-JRG Automotive Systems, added, "BOS-JRG is a strategic step towards bringing global innovation closer to the Indian market, creating a strong foundation for sustainable growth, localisation and future mobility solutions."

The venture plans to support the production requirements of passenger vehicle manufacturers in India through technology transfer and local manufacturing.

Comments (0)

ADD COMMENT

Link Copied!

Tsuyo Manufacturing Private Limited (Tsuyo), India’s leading e-mobility component manufacturing company and a pioneer in integrated electric vehicle powertrain technologies, has earned a place among 120 startups selected for Bharat Innovates 2026. This flagship initiative is overseen by India’s Ministry of Education and aims to identify and support the nation’s most promising technology ventures.

The selection underscores Tsuyo’s rising contribution to the domestic electric mobility sector, particularly through the development of advanced powertrain solutions. By focusing on indigenous capabilities, the company supports India’s goal of self-reliance in clean mobility and assists original equipment manufacturers in accelerating electric vehicle adoption across multiple vehicle categories.

Bharat Innovates 2026 will take place in Nice, France, from 14 to 16 June. Announced by Prime Minister Narendra Modi on 17 February 2026 during the India-France Year of Innovation, the programme is designed to mentor high-potential startups and showcase them globally. Through this platform, Tsuyo will gain mentorship, networking opportunities and international visibility to further expand its technological reach.

With two manufacturing plants in Greater Noida and over 200,000 motors sold to more than 50 original equipment manufacturers, Tsuyo leads the mid-drive electric motor segment in India. Its products serve three-wheelers, light commercial vehicles, medium and heavy commercial vehicles and off-road applications, with powertrain systems ranging from 0.5 kW to 400 kW. Continued investment in research and development keeps the company committed to India’s sustainability and manufacturing ambitions.

Vijay Kumar, Founder & CEO, Tsuyo Manufacturing Private Limited, said, "This milestone is the advocacy of the incessant effort of the entire Tsuyo team. It affirms our vision of developing globally advanced, adaptable and affordable EV powertrain technologies that are both designed and manufactured in India. As the nation accelerates its shift towards sustainable mobility, indigenous innovation will be the right pivot towards enhancing supply chain resilience, reducing technological dependence and positioning India as a global hub for electric mobility. We are eager to utilise this platform to highlight India's engineering prowess and engage with global stakeholders who share our commitment to sustainable transportation.”

Lalit Baid, Founder & COO, Tsuyo Manufacturing Private Limited, said, "Bharat Innovates 2026 offers a unique opportunity for technology companies to collaborate, learn and expand. At Tsuyo, our focus has consistently been on developing high-performance, reliable and cost-effective powertrain solutions which must meet the evolving demands of the EV industry. A key pillar of our innovation is our work on sustainable motor manufacturing without rare-earth magnets – reducing dependence on critical mineral supply chains and eliminating the geopolitical risk that comes with China-dominated RE magnet sourcing. Participation in this initiative will enable us to further enhance our innovation roadmap, forge meaningful partnerships and contribute to India's goal of becoming a global leader in electric mobility technologies."

Comments (0)

ADD COMMENT

Link Copied!