Belrise Industries Limited has announced the acquisition of the Tipper business of Hyva India Pvt. Ltd., a subsidiary of JOST Werke SE. The transaction, valued at $5.65 million USD, was conducted on a slump sale basis through a Business Transfer Agreement. This acquisition is set to strengthen Belrise’s position in the commercial vehicle OEM market, adding a leading European OEM to its customer base and expanding its manufacturing capabilities.
Strategic Acquisition Boosts Market Position
Belrise Industries Limited has officially completed the acquisition of the Tipper business operated by Hyva India Pvt. Ltd. This strategic move, finalized through a Business Transfer Agreement (BTA), positions Belrise to significantly expand its footprint in the commercial vehicle sector. The acquisition, conducted on a slump sale basis, was completed on August 4, 2026.
Key Details of the Transaction
The total purchase consideration for this acquisition amounts to $5.65 million USD. The valuation of the acquired business is based on an estimated Enterprise Value (EV) to EBITDA multiple of approximately 3.60x for CY25. This figure is derived from management accounts, with the Enterprise Value computed on a cash-free, debt-free basis. The estimated EBITDA for CY25 for the acquired business is pegged at approximately $1.57 million USD, considering a USD/INR exchange rate of 95.26.
Enhanced Capabilities and Customer Base
Hyva India’s Tipper Business is recognized as a specialist in Tipper manufacturing for construction, mining, and infrastructure applications. It serves all of the top 5 commercial vehicle OEMs and acts as a design and development partner. The acquisition also brings with it three new facilities located in Pune, Jamshedpur, and Bangalore, further enhancing Belrise’s operational capacity. Notably, the deal adds a leading European commercial vehicle OEM to Belrise’s existing customer base, marking a significant step in its growth strategy.
Future Outlook and Financial Highlights
The acquired business is projected to achieve a Return on Capital Employed (ROCE) of approximately 20%. This acquisition is expected to catalyze Belrise’s role as a Tier-0.5 supplier within the industry, indicating a deeper integration and strategic partnership with key OEMs. The presentation detailing this acquisition has been made available on the company’s website under the Investor Relations section.
Source: BSE
