Belrise Industries Limited has acquired the India Tipper Body Business of Hyva India Private Limited (a subsidiary of JOST Werke SE) on a slump sale basis
Transaction executed through a Business Transfer Agreement (BTA)
Total purchase consideration: Approximately USD 5.65 million
Valuation multiple: EV/EBITDA multiple of approximately 3.60x
Transaction strengthens Belrise's transition to a Tier-0.5 supplier within the commercial vehicle ecosystem
Financial Metrics of Acquired Business
CY2025 EBITDA: Approximately USD 1.57 million
Return on Average Capital Employed (ROACE): Approximately 20%
Enterprise Value: USD 5.65 million
Strategic Rationale
Expands Belrise's capabilities in the commercial vehicle segment
Deepens presence in high-growth sectors including construction, mining, defense, and infrastructure
Enhances customer portfolio by adding a key European commercial vehicle OEM
Strengthens domestic footprint through acquisition of three manufacturing facilities in Pune, Jamshedpur, and Bangalore
Complements Belrise's manufacturing and engineering strengths
Business Overview of Acquired Unit
Established in 1997, introduced telescopic cylinder technology and tipping solutions to Indian market
Specializes in manufacture of complete tipper bodies for heavy-duty commercial vehicles
Serves all of the top five commercial vehicle OEMs in India
Strong engineering and design capabilities
Only Hyva business globally dedicated to design, manufacture, and sale of complete tipper bodies
Post-Transaction Structure
Hyva will continue to own, operate, and invest in its Tipping Kits and Hydraulic Systems business
Hyva will continue serving OEMs, body builders, dealers, and customers in India through its hydraulic and tipping technology solutions portfolio
Company Background - Belrise Industries
Headquartered in Pune, India
Leading integrated precision engineering company
Specializes in manufacturing safety-critical systems and advanced engineering solutions for two-wheelers, three-wheelers, and four-wheelers (passenger vehicles, commercial vehicles, agricultural vehicles)
Recent strategic acquisitions in Europe expanded capabilities into structural and engine components for aerospace and defense sectors
Turnover: INR 95,091 million
Market share: Approximately 24% in precision sheet metal pressing and fabrication (based on revenue)
Manufacturing facilities: 22 in India, 2 in Europe
Serves 38 OEMs across vehicle segments, including largest global aerospace and defense OEMs
Additional Information
Press release available on company website under 'Investor Relations' at https://belriseindustries.com/
Document digitally signed by Siddhesh Sudhir Mandke, Company Secretary and Compliance Officer (Membership No. A20101)
