Syrma SGS Technology has commissioned a production facility in Pune with an investment of INR 1,000 million in an effort to bolster its operations and growth. 
This investment is claimed to be for the first phase of the project that will complement the company's existing manufacturing capacities by bringing operational efficiencies. 
Adding to the 13 manufacturing facilities the company has in Chennai, Bangalore, Manesar, Gurgaon, Noida and Baddi (Himachal Pradesh) among others, the Pune plant is spread over 60,000 sq. ft. It is the first multi-facility campus with a capability to serve customers in multiple sectors and at a global scale, according to SyrmaSGS CEO Satendra Singh.
The facility, in its first phase, is expected to generate 1,000 direct jobs with a manufacturing area of 1.20 million sq. ft. The new campus is spread across 26.5 acres of land, according to the company. 
Built with a focus on strengthening the capabilities and by expanding capacities to meet the evolving market needs, the new facility at Pune will help SyrmaSGS to further accelerate its efforts for the 'Make in India' initiative. 
J S Gujral, Managing Director, Syrma SGS, mentioned, “The launch of our Pune facility positions us perfectly to capitalise on the vast business opportunities ahead."
Positioning itself to quickly expand its capabilities and stay ahead of the curve in dynamic market trends and positioning, Syrma SGS has emerged as a key player in meeting the increasing demand for cutting-edge electronics manufacturing. It is serving the automotive sector globally and locally with an array of an array of electronics manufacturing solutions such as product design; rapid prototyping; PCB assembly; box builds; custom end-to-end solutions; RFID tags; high-frequency magnetic components, and repair, rework and automatic testing equipment development. 
 

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ACMA Hosts Inaugural STEER 2025, Setting the Course For India’s Automotive Aftermarket

The Automotive Component Manufacturers Association of India (ACMA) recently held the inaugural STEER 2025, a national aftermarket confluence designed to chart a course for the future of India’s automotive components industry.

The event, convened on 8th August, saw participation from leading government and industry voices, including Union Minister Pralhad Joshi, Shradha Suri Marwah, President, ACMA, Vinnie Mehta, Director General, ACMA and Ramashankar Pandey, Chairman, ACMA Aftermarket Sub-Committee.

In his keynote, Joshi praised ACMA’s commitment to consumer empowerment and highlighted the government’s Right to Repair initiative, stating that it would help make genuine spare parts and repair information more accessible and encourage sustainability and affordability while strengthening India’s presence globally.

Throughout the day, delegates engaged in lively discussions on sectoral challenges and opportunities around safety, technology adoption, skills development, market access and supply chain resilience. Actionable recommendations emerged to help advance the aftermarket in line with evolving consumer expectations and international trends.

According to data presented by Ernst & Young, India’s auto component sector has experienced robust growth, registering a compound annual growth rate (CAGR) of 12 percent from FY2018 to FY2024. The aftermarket segment itself expanded at around 8 percent CAGR over this period.

In FY2024, the industry’s turnover reached INR 6,147 billion, with exports climbing to INR 1,760 billion and constituting around 4 percent of India’s total national exports. The sector currently contributes approximately 2 percent to India’s GDP and provides employment to nearly five million people, highlighting its importance as one of the country’s largest employers.

Exports have become a significant driver, fuelled by strong domestic demand, supportive government incentives and India’s integration within the global ‘China+1’ supply strategy. Lower manufacturing costs give Indian exporters a competitive edge, with average factory wages 50-75 percent lower than those in China, allowing for 20-30 percent savings on labour-intensive components. Government schemes such as the Auto PLI Scheme have further boosted export growth, offering sales-linked incentives of 8–18 percent for advanced and electric vehicle components. Engine parts remain the largest export category, though substantial shares are also held by sectors such as suspension, braking, body/chassis, transmission and electronics.

Global opportunities abound in both developed and emerging markets. Key targets for Indian suppliers include Latin America, Indonesia, Poland, the UAE and Africa. Brazil’s automotive aftermarket alone is valued at USD 12,091 million (CY23), while Indonesia’s stands at USD 7,759 million, offering significant scope for further growth. Indian mechanical and consumable parts, particularly for two-wheelers, commercial vehicles and tractors, enjoy a reputation for quality in many of these regions; for instance, Nigerian purchasers are willing to pay up to 25 percent more for critical Indian spares compared to cheaper Chinese alternatives.

Trade agreements such as the India-UAE CEPA have facilitated access to high-growth markets by removing import duties, while bilateral pacts with African nations support expansion into West and East Africa. In Africa, car ownership remains relatively low at 40 per 1,000 people – far less than the global average – indicating substantial growth potential for automotive aftermarket products over the coming decade.

At STEER 2025, speakers emphasised strategies for further accelerating India's export momentum, including building stronger online and e-commerce presence, innovative branding, tailored product offerings, collaborative supplier initiatives, streamlined logistics and enhanced market access through local partnerships. ACMA reaffirmed its commitment to close collaboration with government and industry stakeholders, placing consumer empowerment and sustainability at the core of its vision to enhance India's reputation as a globally competitive supplier.

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Tier 1 supplier Lumax Auto Technologies has announced its financial results for Q1 FY2026, showcasing significant growth in revenue and profit. The company reported consolidated revenue of INR 10.26 billion for Q1 FY26, up 36 percent from INR 7.56 billion last year.

This growth was supported by strong performance across its various business segments. The standalone OEM business saw a 5 percent increase in revenue, while the aftermarket segment experienced a 16 percent surge compared to the previous year. The company's subsidiaries (excluding the recently acquired Greenfuel) also contributed significantly, with a 36 percent YoY growth. Including Greenfuel, the growth for the subsidiaries was even more impressive at 59 percent for the quarter.

Lumax Auto Technologies' profitability also saw a healthy increase, with consolidated profit after tax (PAT) jumping 30 percent to INR 540 million in Q1 FY26, up from INR 420 million in the same period last year.

Anmol Jain, Managing Director, Lumax Auto Technologies, said, "We have kicked off the FY2026 with a steady performance both in revenue and profitability which is in line with our internal operating budgets. There have been certain price corrections from customers which has not been realised because of which the margins have seen a slight dip from Q1 of FY25. These corrections have been subsequently received in the current month. In Q2, we should be able to see this gain based upon the spill over from Q1 & in H1, the EBITDA margins will be in alignment with the strategic direction for the current year which is between 14 percent to 15 percent."

The company also highlighted key strategic initiatives during the quarter, including the full acquisition of IAC India, which strengthens its position in the EV interior space. Additionally, the Board of Directors approved the establishment of a branch office in China to explore new business opportunities and the setting up of a new Technology Centre in Bengaluru.

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Tier 1 automotive supplier Tata AutoComp Systems, through its British subsidiary Artifex Interior Systems (Artifex), has signed a conditional agreement to acquire 100 percent stake in IAC Group (Slovakia).

The move is part of Tata AutoComp’s strategy to further strengthen its capabilities and expand its presence in the UK and EU markets. 

Arvind Goel, Vice-Chairman, Tata AutoComp, said, “The acquisition of IAC Slovakia will mark a significant milestone in Tata AutoComp’s global growth journey. Following our earlier acquisition of Artifex, this step strengthens our European presence and reflects our commitment to serving global OEMs more effectively. IAC Slovakia’s strong operational excellence, skilled workforce, and strategic location will enhance our ability to deliver high-quality interior systems. This move supports our vision to be a trusted and value-driven partner in the global automotive supplychain.”

Manoj Kolhatkar, MD & CEO, Tata AutoComp, said, “We see strong synergy between IAC Slovakia’s capabilities and our existing European operations, which will enable faster integration and value delivery to OEM customers.”

Alan Fennelly, Chief Executive Officer, Artifex, said, “We are excited to welcome IAC Slovakia into the Artifex family. This expansion is a pivotal step in our journey to become the valued partner of choice. It strengthens our expertise in automotive interior systems, expands our capabilities, and opens the door to new partnerships and broader markets. I’m excited about what we’ll achieve together.”

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Tier 1 supplier Uno Minda has reported a robust INR 44.89 billion in revenue in Q1 FY2026, up 18 percent YoY, as compared to INR 38.18 billion last year.

The EBITDA came at INR 5.43 billion with a margin of 12.1 percent, as against INR 4.08 billion and a margin of 10.7 percent for the same period last year. The net profit grew by 46 percent at INR 2.91 billion.

Ravi Mehra, Managing Director, Uno Minda Group, said, “The automotive industry is undergoing a seismic transformation – driven by electrification, digitalisation, safety and premiumisation. At Uno Minda, we have embraced this change with agility and vision, positioning ourselves as a key enabler of next-generation mobility solutions. Our performance in Q1 FY26 reflects not only strong execution but also the growing relevance of our innovation-led portfolio across emerging technologies. We continue to invest in future-ready capacities, strategic partnerships, and R&D capabilities across India and overseas to deepen our technology leadership and enhance our value proposition to customers. We are confident that our continued emphasis on technology, quality, and customer-centricity will shape Uno Minda’s next phase of sustainable and inclusive growth.”

Sunil Bohra, CFO, Uno Minda Group, said, “We are pleased to report a strong start to FY26 with robust top-line and bottom-line performance across key product segments. The 18% year-on-year revenue growth reflects the strength of our diversified portfolio, deep customer relationships, and our continued ability to outperform the industry. Our strategic investments in emerging technologies like EV components, ADAS, sensors, and advanced electronics are beginning to yield tangible results, further strengthening our position as a future-ready automotive solutions provider. As we move forward, we remain committed to disciplined capital allocation, margin stability, and accelerating localisation efforts to create long-term value for all stakeholders.”

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