Belrise Industries Acquires Hyva India’s Tipper Body Unit for $5.65 Million

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"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. 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." - Swastid Badve, General Manager - Belrise Industries Limited

August 2026 : Belrise Industries Limited has acquired the Tipper Body Business of Hyva India Private Limited, a subsidiary of JOST Werke SE, in a deal valued at approximately USD 5.65 million. The transaction represents an Enterprise Value to EBITDA multiple of roughly 3.60x and marks a major strategic step in Belrise’s journey toward becoming a Tier-0.5 supplier in the commercial vehicle space.

The move strengthens Belrise's position across high-growth industries like mining, construction, defense, and infrastructure. Hyva India’s tipper unit brings a proven manufacturing platform that supplies all top five commercial vehicle OEMs in India. In CY2025, the business generated about USD 1.57 million in EBITDA with a return on average capital employed (ROACE) near 20%, highlighting its strong operational efficiency.

This transaction also expands Belrise’s customer base by adding a key European commercial vehicle OEM, while boosting its production network with three strategically located manufacturing facilities in Pune, Jamshedpur, and Bangalore. Following the sale, Hyva will retain and continue investing in its core Tipping Kits and Hydraulic Systems operations globally and within India.

Speaking on the occasion, Mr. 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. 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."

With an annual turnover of INR 95,091 million and a 24% domestic market share in precision sheet metal pressing and fabrication, Pune-based Belrise operates 22 facilities in India and two in Europe. This latest acquisition reinforces its commitment to scaling its presence across global automotive and defense supply chains.

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