Sansera Engineering began as a single order from Maruti Udyog in 1986 and has since grown into a precision-engineering house that makes the complex metal innards of engines, aircraft, and chip-making machines - the parts that have to work every time. Over four decades, it has repeatedly used the cash and credibility of its core automotive engine business to build entirely new capabilities in aerospace, defence, and semiconductors, deliberately reducing its dependence on any one sector. The recurring approach is to master a difficult forging and machining process for one demanding customer, then sell that precision to others across industries and geographies - a strategy that has turned a single-factory component maker into an 18-plant operation serving over 100 clients in 29 countries. # Business segments Five engines at different stages - a hydrocarbon cash cow, two consumer platforms at national scale, and a green-energy bet under construction - each built with the cash flows of the one before. ## 1. Auto ICE Components: the precision heart of the combustion engine **Sansera is among India's largest independent suppliers of the critical forged and machined parts inside a petrol or diesel engine - connecting rods, crankshafts, and rocker arms - and ships them finished directly to the world's biggest car and motorcycle makers.** - **Single-source supplier to giants** - the company is the sole supplier for several components to major OEMs, and 40% of its customer relationships have lasted more than two decades, including a 30-plus-year tie with a leading Indian passenger-vehicle maker. - **Makes its own machines** - Sansera has built over 900 CNC machines in-house, which are modular and can be shifted between production lines; this gives it lower costs and faster expansion than buying equipment from outside, and its automation division has deployed more than 130 systems to keep quality consistent. - **Volume is the profit lever** - the business carries a large fixed-cost base, so profitability depends on spreading those costs over high sales; its existing ICE plants are already running at "max peak utilization," which is why it keeps adding capacity like the new Pantnagar crankshaft facility. - **Raw material risk, passed through** - steel and aluminium are the main inputs, and while domestic customers see price changes passed on quickly, export contracts are reviewed only for exceptional swings, creating a lag that the company has to manage. - **The deliberate shrink** - this segment was 83% of sales in FY22 and is being actively reduced toward a 60% target, not because it is shrinking in absolute terms but because the company is growing other engines faster. ## 2. Auto Tech-Agnostic & xEV Components: the electrification bridge **Sansera makes the parts that every vehicle needs regardless of what powers it - chassis, suspension, and braking components - plus the specialised aluminium pieces that electric and hybrid cars demand, giving it a seat at the table as the industry shifts away from combustion.** - **Four to five times the revenue per vehicle** - the aluminium forged components that replace heavier steel parts in premium and electric vehicles can earn Sansera significantly more per car than its traditional ICE parts, and the company sees large export potential for them. - **First-mover in aluminium forging** - Sansera started producing aluminium-forged and machined parts back in 2019, and has since added a 4,000-tonne press and two more presses to build capacity for bigger and lighter components, giving it a head start on competitors. - **Already inside the EV supply chain** - the company counts 13 key electric-vehicle OEMs as customers and has collaborations with two leading global EV makers; a marquee North American EV manufacturer's orders crossed an annual run-rate of INR 1,000 million by mid-2022. - **Scooter decline, offset** - the two-wheeler scooter segment, which is rapidly electrifying, saw a drop of nearly 11% in FY24, but the company built its tech-agnostic and xEV portfolio specifically to compensate for that structural shift. ## 3. Aerospace, Defence & Semiconductor: the high-stakes precision bet **Sansera's fastest-growing division makes parts where failure is not an option - door fittings and aerostructures for Airbus and Boeing, and components for the machines that manufacture semiconductors - operating from a dedicated facility with its own leadership and a five-year order backlog.** - **A five-year visible order book** - the division holds a cumulative unexecuted lifetime order backlog of INR 44,638 million, executable over roughly five years, which gives it unusual revenue visibility for a components business. - **Tier-1 to the primes** - in aerospace, Sansera supplies directly to aircraft manufacturers like Boeing and Airbus as well as to their Tier-1 suppliers; in semiconductors, it is a Tier-1 supplier to the companies that build chip-fabrication equipment. - **Airbus chose an Indian supplier for the first time** - in a landmark deal, Airbus Defence and Space contracted Sansera to manufacture and assemble the Airborne Intensive Care Transport Module for military transport aircraft, with first shipment due before the end of 2026. - **Asset-light by design** - the ADS division turns its assets twice a year compared to 1.25-1.3 times for the automotive business, meaning it generates more revenue from each rupee invested in plant and machinery. - **Semiconductor entry is real** - after an intensive qualification process, Sansera entered mass production of semiconductor equipment components in FY25, riding demand driven by artificial intelligence and the Indian government's Semiconductor Mission 2.0. ## 4. Off-Road, Agriculture & Industrial: the diversification tail **Sansera takes the same forging and machining skills it uses for cars and applies them to bigger, tougher components for earth-movers, tractors, marine engines, and power tools - a collection of niche non-auto markets that doubled in three years.** - **Bigger parts, new customers** - industrial and marine engine components are typically larger than commercial-vehicle parts, and the company has secured significant orders from prominent international clients in this space. - **Off-road broke the billion-rupee mark** - the off-road segment alone crossed Rs. 1,000 million in FY24, growing 66% in that year, and the broader non-auto portfolio of agriculture, off-road, and industrial applications delivered over Rs. 2,000 million in FY25. - **A 26% growth engine** - the overall non-auto segment has compounded at 26% annually between FY21 and FY26, steadily reducing the company's reliance on any single end-market. # Group structure and partners **Sansera is the listed Indian parent with three subsidiaries - including a Swedish connecting-rod maker that gives it a foothold in heavy commercial vehicles - plus a strategic stake in a defence-radar startup and a new joint venture with a Japanese precision-forging specialist.** - **Sansera Sweden is the European bridge** - acquired in 2017, this subsidiary manufactures connecting rods for heavy commercial vehicles and contributed 8.2% of group sales in FY26, delivering its highest-ever quarterly revenue in Q4. - **Radar technology via MMRFIC** - Sansera owns a 30.16% stake in this Bengaluru-based company that builds sub-systems for next-generation radars using AI and mm-wave sensors; it won a Ministry of Defence grant for a satellite ground-station amplifier and generated close to INR 158 million in FY25. - **Nichidai JV opens new product lines** - in early 2026, Sansera formed a 60:40 joint venture with Japan's Nichidai Corporation to manufacture precision-forged parts for differentials, compressors, and drivelines - components Sansera does not currently make - with Nichidai supplying the tooling and technical know-how.