Latest news with #SonaComstar
Mint
27 minutes ago
- Automotive
- Mint
Auto part makers look beyond cars to dodge global headwinds
Facing shifting trade dynamics, geopolitical tensions, and cooling demand especially in the key US market, top Indian auto component makers Samvardhana Motherson, Sona Comstar, and Bharat Forge are either getting into new growth areas or beefing up existing presence in alternative sectors. During management calls with analysts and investors in May after declaring their Q4 results, Sona Comstar (listed on the bourses as Sona BLW Precision Forgings Ltd) said it is looking at railways, Motherson at aerospace, and Bharat Forge said it is eyeing defence and electronics to boost growth even as the core auto business faces challenges. The tweak in strategic direction follows the March announcement by US President Donald Trump that all automobile-related imports into the US would attract a flat tariff of 25%. For these three companies, which have among the highest exposure to the US market among Indian auto component makers, that is likely to hit revenues and margins. Sona Comstar's managing director and chief executive officer (CEO) Vivek Vikram Singh said in an analyst call on 30 April that the developments in the US could impact 3% of its total revenue. 'In our opinion, they (US tariffs) will adversely impact the demand for cars and light trucks," Singh said. Also read | Automakers urge Indian govt for diplomatic outreach to China for rare earths In FY25, Sona Comstar earned 41% of its ₹3,545 crore consolidated revenues, and Motherson 19% of ₹1.13 trillion, from the North American market, the bulk of which comprises sales in the US. Bharat Forge generated 70% of its total exports from the Americas (both North and South America) in the same fiscal year. Sona Comstar said that acquisition of railway equipment business from Escorts Kubota, which was completed this month, will make India its largest market from second largest in the previous financial year. The company had announced the acquisition of Escorts Kubota in October 2024 for ₹1,600 crore, marking its entry in the railway equipment space. Motherson's revenue from aerospace components rose from ₹339 crore in FY24 to ₹1,749 crore in FY25, growing at a pace of 415%, albeit on a low base. The company is also diversifying and expanding into areas like consumer electronics and semiconductor manufacturing machines. 'We expect this to grow even further in the coming quarters," said Laksh Vaaman Sehgal, director at Samvardhana Motherson, on the non-automotive revenue. Per its investor presentation for Q4 FY25, Motherson plans to spend about 70% of ₹3,000 crore earmarked for growth capital expenditure on non-auto related business in the current fiscal year (FY26). Read this | From red to black: India's top automakers see EV business turning around Meanwhile, Bharat Forge identified defence and electronics as key growth areas. 'Industrial saw growth across verticals with Defence, Heavy Horse Power Engines registering robust performance. In the medium term, scale up of the Defence business and opportunities for components supply to Small Nuclear Reactors would be key to growth," its investor presentation said. To be sure, Bharat Forge, which has been in the defence business since 2010, is the most diversified among these three companies with more than seven lines of business, including auto parts, defence, aerospace, and electronics, among others. The core auto segment now forms just 53% of its overall business. Amit Kalyani, vice chairman and joint managing director at Bharat Forge, also noted that electronics is going to be a key growth area as its role increases in the industrial sector. 'You need to build scale, you need to build supply chain capability, and I think we are going to do that in multiple areas," Kalyani told analysts in the post earnings call. 'The Indian government wants to create Indian electronics players in niche areas where imports are not wanted to be used. So, I think there is an opportunity and that's what we are pursuing." Also read | Froth clears from Bharat Forge's valuation, but it lags on a crucial metric Jugnu Sakuja, managing director at consultancy firm Alvarez & Marsal, told Mint that the pursuit of leading auto component players to diversify into high-end tech areas like electronics, robot parts manufacturing etc. will continue to intensify as these players will look to find new avenues of growth and expand margins. Facing Global Challenges Companies and analysts alike agree that the growth environment for the country's auto component players is becoming increasingly challenging. 'Muted global production due to geopolitical issues, evolving platform mix and trade dynamics; growth in India and China offset by degrowth in developed markets," were some challenges outlined in Motherson's investor presentation on 29 May. Echoing a similar sentiment, Bharat Forge's management highlighted in its presentation to investors on 8 May that an 'unpredictable policy environment in the near future can lead to lower discretionary spends impacting overall volumes in North America". The imposition of restrictions on rare earth magnets by China in response to the US's decision to impose tariffs has further sparked concerns about automobile production. 'Global automotive production, and in this I include every market, may see disruptions due to supply chain complexities and high dependence on China, especially for rare earth material," Singh of Sona Comstar said. And read | Indian auto stuck in queue as China clears rare earth magnets for others Meanwhile, analysts at Ambit Institutional Equities wrote in a 25 April note, 'We identify three key risks for Ancs-USMCA/tariffs, EU weakness and Chinese competition, and EVs–given the industry's export reliance on US/EU and good salience of engine components." Nifty Auto index has gained 0.81% this year as against a 4.11% rise in the benchmark Nifty 50.
India.com
7 hours ago
- Automotive
- India.com
Sunjay Kapur's kids with Karisma Kapoor will inherit Rs..., from his Rs 10,300 crore empire, Priya Sachdev and her son will get...
Karisma Kapoor's ex-husband Sunjay Kapur passed away at the age of 53. Reports claim that he swalloed a bee which caused uneasyness and later led to a heart attack. According to a report by Hindustan Times, his death has triggered a succession crisis at his auto components company, Sona Comstar. In 2015, when Sunjay's father industrialist Dr Surinder Kapur's passed away, Sunjay decided to take over reigns of the empire. As per the report by Bloomberg, Sunjay took his company Sona Comstar towards a market cap of over Rs 10,300. Back on June 13, the company issued an official statement and addressed Sunjay Kapur's death and assured stakeholders that 'our operations and prospects remain unchanged as we honour his legacy'. Will Sunjay Kapur's Children Join His Company ? Karisma Kapoor tied the knot with Sunjay Kapur in an arranaged marriage. The couple got married in 2003 and were blessed with two kids 20-year-old Samaira and 14-year-old Kiaan. However, soon after the wedding, the two faced problems. And as a result, they parted ways in 2011 and a finally divorce happened in 2016. Following the divorce, Sunjay married another woman named Priya Sachdev with whom he has a son. Currently, none of his children are expected to take over the reins of the company. However, as per an India Today report, Sunjay Kapur's sisters are likely to assume management roles. Sunjay Kapur in 2022 joined the list of World's Billionaires. As per details by Forbes, Sunjay Kapur's net worth at the time of death was $1.2 billion (i.e. ₹10,300 crore). Report by HT claimed that Sunjay Kapur's estate has been passed on to his wife Priya Sachdev. However, the report also mentioned that as part of legacy planning, his children Samaira and Kiaan have been gifted bonds worth Rs 14 crore each, along with a monthly income of Rs 10 lakh.
India.com
8 hours ago
- Automotive
- India.com
Who will inherit Sunjay Kapur's Rs 390000000000 business empire? Not Karisma Kapoor or his other ex-wives, the heir is...
Sunjay Kapur, the ex-husband of Karisma Kapoor, died of a heart attack on June 12. He was 53. (File) Sunjay Kapur, the ex-husband of actor Karisma Kapoor, who passed away at the age of 53 due to a heart attack in the UK on Thursday (June 12), was a veteran business tycoon who served as the Chairman and non-executive director of Sona Comstar, formerly known as Sona BLW Precision Forgings Limited– a leading auto parts manufacturer. Kapur left behind an expansive business empire valued at a whopping $4.7 billion (about Rs 30,000 crore), and speculations are rife about who would lead Sona Comstar following his demise. Who would inherit Sunjay Kapur's Rs 39,000 crore business empire? Sunjay Kapur took over as the Managing Director of Sona Comstar after his father's demise in 2015, took the company to new heights. Under Kapur's leadership, the company expanded its presence across the globe, building manufacturing plants in the United States, Mexico, Serbia, and China. Sunjay Kapur was married thrice, with his marriage to Bollywood actor Karisma Kapoor being the one which is most known for obvious reasons. Sunjay and Karisma tied the knot in 2003, and later divorced in 2016. The union produced two kids, Samaira and Kiaan. Later, Kapur married Priya Sachdev, and has son with her named Azarias. He was also the father of Sachdev's child from her first marriage. However, neither Karisma Kapoor, nor any of Sunjay Kapur's ex-wives are expected to inherit Sona Comstar. Instead, it is believed that his sister, Superna Kapur Motwane and Mandira Kapur Koirala– both well-settled professionals in their respective careers– are likely to lead the company, according to media reports. Superna Kapur Motwane is a editor for a well-known magazine, while Mandira Kapur Koirala runs Sona Mandira Pvt Ltd (SMPL), an auto parts maker similar to Sona Comstar. Notably, Sunjay and Mandira were once involved in a legal dispute over who had rights to the 'Sona' brand name, which was established by their late father Dr Surinder Kapur. Sunjay Kapur net worth According to reports, Sunjay Kapur had a net worth pegged at around $1.2 billion (approximately Rs 10,300 crore). Meanwhile, the ace businessman has left a healthy amount for his children, which includes a Rs 14 crore bond he purchased for Samaira and Kiaan after divorcing Karisma Kapoor in 2016. The bond generates a monthly interest of Rs 10 lakh, which is meant to cover the daily expenses of his two kids with Karisma. Additionally, his house in Khar is also registered in their names. Sunjay Kapur death Sunjay Kapur, the ex-husband of famous Bollywood actress Karisma Kapoor, died of a heart attack while playing a polo match in the United Kingdom on June 12. At first, it was believed that the 53-year-old had died due to a sudden heart attack, but later reports emerged that he had reportedly swallowed a bee by accident, and its sting caused an allergic reaction, triggering a cardiac arrest that led to his demise. 'It is with deep sorrow that we inform that Sunjay Kapur, Chairman and Non-Executive Director of Sona Comstar, passed away on 12 June 2025 in England, UK due to a heart attack at the age of 53. As a visionary leader, Kapur played a key role in building Sona Comstar into a global mobility technology company based on innovation, stability and purpose. His inspiration, vision and dedication to excellence inspired us all,' Sona Comstar said in an official release. 'Apart from his professional contributions, Sunjay Kapur was a devoted father, a mentor to many, and a strong supporter of India's manufacturing and mobility sector. His demise is a huge loss to the industry and the Sona family,' the release added.
Pink Villa
9 hours ago
- Business
- Pink Villa
Are Karisma Kapoor's kids getting a share of Sunjay Kapur's wealth? Find out who might take over his Rs 31,000 crore business empire
Sunjay Kapur's untimely demise shook the film industry and business world. The billionaire took his last breath on June 12 (Thursday) due to a heart attack while playing polo in the UK. Soon after his sudden passing, the question arises who will lead his Rs 31,000 crore business empire and whether Karisma Kapoor's kids will get a share of his wealth. Sunjay Kapur's wife Priya Sachdev to inherit his Rs 10,300 crore estate Reportedly, Sunjay Kapur had a personal wealth of around USD 1.2 billion (Rs 10,300 crore) at the time of his passing. A Hindustan Times report suggests that his estate management will now pass to his current wife, Priya Sachdev, with whom he lived in the UK. However, the billionaire had already made plans to support all his children. Reportedly, Sunjay had already gifted bonds worth Rs 14 crore to his children, Samaira and Kiaan, whom he shares with his ex-wife, and actor Karisma Kapoor. In addition, they will continue to withdraw Rs 10 lakh each as monthly income. For the unversed, the actress was given an alimony of Rs 70 crore during the time of their divorce, as per The Times of India. Who will take over Sunjay Kapur's Rs 31,000 crore worth business empire? Sunjay has three children, Samaira (20) and Kiaan (14) with Karisma Kapoor and Azarias (6) with his third wife Priya Sachdev. Since none of his children are part of the company, none is competent to take over the leadership, at least at this point. Though there is no official confirmation, reports that Sunjay Kapur's sister might take over his bona fide billionaire empire. Reportedly, Sunjay was the chairman of Sona Comstar, which is an Indian automotive technology company. Founded by his father Surinder Kapur, it was Sunjay who expanded the family firm to the global markets after joining the company as Chairman in 2015 following his father's unfortunate demise. As per Bloomberg, the global market cap of Sona Comstar stands at nearly USD 4 billion (Rs 31,000 crore). Sunjay Kapur's sudden demise shook the market, and a drop of over 7% in the company's shares was registered when it opened on Friday, as per Business Today.
Economic Times
12 hours ago
- Automotive
- Economic Times
Rs 10,300 crore: After Karisma Kapoor's ex-husband Sunjay Kapur's death, who will inherit his massive wealth?
The sudden death of businessman Sunjay Kapur, chairman of auto parts giant Sona Comstar, has raised pressing questions about the future of his Rs 31,000 crore company and the division of his Rs 10,300 crore personal wealth. Kapur, who died of a heart attack during a polo match in London, left behind three children from his three marriages, including two with actress Karisma Kapoor. While his wife Priya Sachdev is set to manage his estate, Kapur had already made financial arrangements for Samaira and Kiaan, gifting them Rs 14 crore in bonds and ensuring a monthly income of Rs 10 lakh each. Tired of too many ads? Remove Ads Shares Tumble, Company Issues Statement Wealth Division and Provisions for His Children Tired of too many ads? Remove Ads A Tumultuous Personal Life Family Reactions and Public Tributes The unexpected passing of industrialist Sunjay Kapur has shaken both the business and entertainment industries, leaving a leadership vacuum at Sona Comstar, the Rs 31,000 crore auto components giant he headed. The 53-year-old billionaire reportedly died of a heart attack while playing polo in London. Some reports suggest the fatal cardiac arrest may have been triggered by accidentally swallowing a bee during the Kapur's death also brings renewed focus on the future of his massive personal wealth and the succession strategy for his business empire. The chairman of Sona Comstar was widely credited with expanding the company globally after taking over in 2015, following the death of his father and Sona Group founder Dr. Surinder the announcement of his death, shares of Sona Comstar dropped by 7% in early Friday trading, reflecting investor uncertainty. In an effort to stabilise sentiments, the company released a statement saying, 'His vision, values, and dedication to excellence has left a lasting legacy for the company. We assure our customers, business partners, employees, and shareholders that our operations and prospects remain unchanged as we honour his legacy.'While there is no official word on who will lead Sona Comstar next, reports suggest that the board will continue to manage the company, and his sisters might step into active the time of his passing, Sunjay Kapur's personal net worth stood at approximately Rs 10,300 crore ($1.2 billion), according to Forbes. His fortune had peaked at Rs 13,000 crore ($1.6 billion) in both 2022 and per legal succession norms, the management of his estate passes to his wife Priya Sachdev. Nonetheless, Kapur had already secured financial arrangements for his children with Karisma Kapoor—Samaira (20) and Kiaan (14). Reports confirm that bonds worth Rs 14 crore were set aside for them, and both are expected to receive a monthly income of Rs 10 lakh also had a six-year-old son, Azarias, with Priya Sachdev, and had adopted her daughter from a previous marriage, Safira Chatwal. None of the children are currently involved in Sona Comstar's business Kapur's personal life often attracted headlines. His first marriage was to designer Nandita Mahtani in 1996, which ended in 2000. His second, to Bollywood actress Karisma Kapoor in 2003, ended in a highly publicised divorce in 2016. The relationship had turned contentious, with allegations of domestic abuse and legal disputes over child the divorce proceedings, Karisma claimed she faced pressure and mistreatment, including an incident where Sunjay allegedly directed his mother to slap her during pregnancy. These allegations were widely reported and fueled extensive media the acrimonious split, Kapur ensured financial support for their children. As part of the settlement, Karisma received ₹14 crore in bonds for them and a residence in Kapoor has not released a statement since his passing, though several family members and celebrities including Kareena Kapoor Khan, Saif Ali Khan, and Amrita Arora were seen visiting her home to offer support. Sunjay Kapur's death was confirmed publicly by Suhel Seth, who called it 'a terrible loss' in a post on social Karisma's father Randhir Kapoor had openly criticised Sunjay, calling him a "third-class man" and stating that the Kapoor family 'never married for money.'As the company and family navigate this transition, the future of Sona Comstar and the final execution of Sunjay Kapur's estate plans remain under close public and investor scrutiny.
