NDRAUTONDR Auto Components Ltd.
NDR Auto Components plans ₹62.96 crore seat joint venture with DYA
- Agreement
- Automotive components
Reviewed byKeshav SehgalBlacklitt Research
NDR Auto Components (NSE: NDRAUTO) approved a joint venture agreement with Korea's DYA Co., Ltd. to make passenger car seats in India, with total investment of ₹62.96 crore, it said in a filing on 04 Nov 2026. The company will hold 51% of the JV, which will become its subsidiary.
Key highlights
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The joint venture in numbers
| Item | Detail |
|---|---|
| Partner | DYA Co., Ltd. (Republic of Korea, listed on the Korean Exchange), 49% |
| Company stake | 51% in the proposed JV Company |
| Total investment or project cost | ₹62.96 crore |
| Equity / loan | ₹38.11 crore equity in tranches; ₹24.85 crore loan |
| Initial equity investment | ₹10 crore |
| Scope | Design, manufacture and supply of passenger car seats, mainly for Kia India and Hyundai India |
| Timeline | 6-8 months from signing the JV agreement |
Terms of the joint venture
The board approved a JV Agreement with DYA Co., Ltd., a Korean company listed on the Korean Exchange. The JV Company is proposed to be incorporated in India as NDR DYA Auto Components Private Limited or a similar name approved by the Registrar of Companies.
The JV board will have five directors, three nominated by NDR and two by DYA. The chairman will be an NDR nominee without a casting vote.
Smaller board decisions
The board also approved an investment of ₹36.30 lakh in the equity of a proposed SPV for sourcing captive solar power, for a 26% stake, with completion indicated for Q1 2027-28. The SPV has not yet been incorporated and has nil turnover.
The board approved additional capital expenditure of ₹11.34 crore for its Naviyani, Gujarat plant and ₹7.19 crore for its Kharkhoda, Haryana plant, for new programmes of Maruti Suzuki India and Suzuki Motorcycle India. It also approved a postal ballot seeking approval to enhance the related party transaction limit with Bharat Seats Limited and to alter the object clause of its Memorandum of Association to add consultancy services for the automotive sector.
What the joint venture means for NDR Auto Components' shareholders
The JV adds a new subsidiary with a ₹10 crore initial equity commitment from the company, within a total project cost of ₹62.96 crore.
Not stated: the expected revenue or profit of the JV, the date of incorporation and of signing, whether the Kia and Hyundai supply contracts have been signed, and the new related party limit. The postal ballot date is also not given. The next dated step is shareholder approval through the postal ballot.
Filed with NSE on . Reference: Original filing (PDF)
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