Corporate News
NDR Auto Components Limited is expanding its automotive production capabilities through a joint venture and a strategic acquisition. The company is forming a joint venture, NDR DYA Auto Components Private Limited, with DYA Co., Limited, investing Rs 38.11 crore (approximately $45.7 million USD) for a 49% stake to manufacture passenger car seats for KIA and Hyundai vehicles. Concurrently, NDR is acquiring a 26% stake in DYA Co., Limited for Rs 36.30 lakhs (approximately $435,000 USD) to support the venture, which carries a total project cost of Rs 62.96 crore (approximately $75 million USD). While the company reported a net loss in the period ending September 30, 2023, it maintains a significant cash position. The joint venture is expected to be completed within six to eight months, pending regulatory approvals, and will be consolidated in NDR’s financial statements.