- **JTEKT India is a Tier-1 supplier that puts the steering in your car - it makes the complete system that turns the wheels on virtually every major passenger vehicle sold in India. The company was born from a 1985 technology tie-up with Japan’s JTEKT Corporation, the world’s largest steering-systems maker, and became its subsidiary in 2017**. **Everything it does follows a single recurring pattern: borrow proprietary technology from a global leader, consolidate the entire value chain under one roof, and then localise relentlessly to serve India’s auto factories at scale.** # Business segments One engine at full throttle - a steering-systems cash cow that supplies nearly every carmaker in the country - with a small but fast-growing driveline bet being built on the same factory floors and customer relationships. ## 1. Steering systems: the company’s core factory **It makes the complete steering assembly - from the column behind the steering wheel to the gear that turns the wheels - for India’s passenger-vehicle giants, using technology from the company that invented electric power steering.** - **Complete system supplier, not a parts maker** - for new car models, JTEKT integrates the manual gear, the electric power-steering unit and the column into a single supply contract, which is why its revenue grew faster than the industry in FY26. - **Technology from the global number one** - roughly 81% of what the company sells is made using designs, assembly drawings, manufacturing techniques and quality-control processes provided by JTEKT Corporation, Japan, which holds more than a quarter of the world steering market and pioneered mass-produced electric power steering. - **Built for Maruti, and everyone else** - Maruti Suzuki is both the largest customer and a co-promoter with a board seat, and JTEKT supplies steering for models spanning the Alto, Brezza, Ertiga and the new e Vitara electric SUV, while also shipping to Toyota, Tata Motors, Mahindra & Mahindra, Honda, Renault-Nissan and Stellantis. - **Capacity that chases the market** - the company runs seven plants across Gurgaon, Dharuhera, Bawal and Chennai, and has been adding dedicated production lines: a fifth and sixth manual-gear line at Dharuhera (the sixth started in August 2025) and a third electric power-steering line at Bawal that began production in July 2025. ## 2. Driveline products: the growth bet next door **A small but deliberate push into Constant Velocity Joints - the component that transfers power from the gearbox to the wheels - built on the same factory floors and customer relationships as the steering business.** - **One of a kind in India** - the company describes its CVJ product as “one of its kind in India” and began commercial production only in September 2022, with Maruti Suzuki as the first client. - **Chasing a 15% share first** - the company’s initial target is to capture 15% of the Indian CVJ market, supplying one set per vehicle, and it is not yet a system supplier in driveline the way it is in steering. - **Doubling capacity, then adding more** - CVJ capacity was first doubled by 400,000 units; by December 2025 the board evaluated and approved capacity expansion for CVJ line, because utilisation on the existing lines was already around 90%. - **Localisation is the profit lever** - the company has already localised the drive shaft, a key CVJ component, which improved segment profitability, and it plans to bring forging parts in-house that are currently bought from outside suppliers. # Group structure and partners **A Japanese parent supplies the technology, an Indian carmaker supplies the demand, and a merged subsidiary supplies the columns - the structure is designed to keep the entire steering value chain inside one tent.** - JTEKT Corporation, Japan, owns 68.33% of the equity and is the source of technology for the majority of products; it also provides a corporate guarantee for the company’s bank borrowings in India. - Maruti Suzuki India Limited is a co-promoter with a nominee director on the board, and both JTEKT Corporation and Maruti Suzuki participated fully in a rights issue during FY26. - The former subsidiary JTEKT Fuji Kiko Automotive India Limited - which made steering columns and jacket assemblies entirely for captive consumption - was amalgamated into JTEKT India effective January 2024, consolidating the full steering value chain. - Two sister concerns operate separately in India under the JTEKT Group: JTEKT Bearings India (hub units, tapered roller bearings) and JTEKT Micromatic Machinery India (machine tools and after-sales support) - neither is a subsidiary of JTEKT India.