Belrise Industries Limited, one of India’s leading integrated automotive and aerospace component manufacturers with a diverse portfolio of safety-critical systems and engineering solutions, has acquired the Tipper Body Business of Hyva India Private Limited, a subsidiary of JOST Werke SE.

The transaction marks a strategic step in strengthening Belrise’s position as a Tier-0.5 supplier within the commercial vehicle ecosystem.

The acquisition aligns with Belrise’s long-term strategy to expand its capabilities in the commercial vehicle segment and deepen its presence in high-growth sectors including construction, mining, defence and infrastructure. The transaction is based on an EV/EBITDA multiple of approximately 3.60x, with a total purchase consideration of approximately USD 5.65 million.

Hyva India’s Tipper Body Business is an established platform specialising in the manufacture of tipping solutions for applications across the construction, mining and infrastructure sectors. The business has strong engineering and design capabilities and serves all of India’s top five commercial vehicle OEMs.

The business delivered EBITDA of approximately USD 1.57 million in CY2025, with a return on average capital employed (ROACE) of around 20 per cent, reflecting its operational efficiency and profitability.

The acquisition will further expand Belrise’s customer portfolio by adding a key European commercial vehicle OEM. It will also strengthen the company’s domestic footprint through three manufacturing facilities located in Pune, Jamshedpur and Bangalore.

Swastid Badve, General Manager, Belrise Industries Limited, said, “We are pleased to welcome Hyva India’s Tipper Body Business into the Belrise family. This acquisition is a strong strategic fit and complements our manufacturing and engineering strengths. It enhances our position in the commercial vehicle value chain and supports our vision of becoming a diversified, global mobility solutions provider.”

He added, “Belrise remains committed to ensuring a seamless transition for customers, employees, suppliers, and business partners, while investing in the future growth and development of the business.”