Sintercom India Ltd. is fundamentally a technology-transfer story: a small Indian manufacturer that became the country’s leading maker of automotive sintered parts by partnering with a global technology leader. Incorporated in 2007 as a joint venture and beginning production in 2010, the company’s defining move came in 2011 when Austria’s Miba Sinter Holding took a roughly 26% stake and shared its advanced powder metallurgy know-how, giving Sintercom a technological edge from the start. Everything the company does flows from a single recurring approach - using a heat-based process that wastes almost no metal to make high-precision components that are cheaper and lighter than traditionally forged or machined parts, then locking in customers as their sole supplier. # Business segments A single engine - precision sintered components for vehicles - built on a technology partnership with a global leader and now extending into electric-motor parts. ## 1. Sintered automotive components: the core manufacturing engine **Sintercom turns metal powder into precision engine, transmission and exhaust parts using a process that wastes almost no material, and supplies them as the sole source to India’s largest car and motorcycle makers.** - **Near-zero waste manufacturing** - the company uses powder metallurgy, where compressed metal powder is heated below its melting point so particles fuse into a strong, dense shape, contouring complex angles without costly secondary machining and leaving virtually no scrap. This makes the parts cheaper to produce than forged or machined equivalents, which is why automakers keep adopting them. - **Sole supplier to top OEMs** - Sintercom is the single-source supplier for various products to Maruti Suzuki, Mahindra & Mahindra, Bajaj Auto and Fiat India, meaning those customers cannot easily switch to a competitor without redesigning their supply chain. Revenue comes from per-unit sales under long-term contracts, giving the business predictable volumes. - **Technology from a global leader** - the company’s joint-venture partner, Miba Sinter of Austria, brings powder-metal process expertise, in-house test laboratories and design-validation capabilities, and counts Volkswagen, BMW, Ford and General Motors among its own customers. Sintercom has a technology-transfer agreement with Miba for developing high-strength synchro hubs and cam-to-cam gears, so it can make parts in India that were previously imported. - **Three product families, one plant** - the 3,600-tonnes-per-year facility in Talegaon, Pune, makes engine parts (drive gears, chain sprockets, belt pulleys for 10-120 hp engines), transmission parts (synchroniser hubs, drivetrain gears that replace heavier forged components), and body-chassis parts (oxygen-sensor bosses, ABS rings). The plant runs on IATF 16949-certified quality systems and a SAP ERP backbone, with a 1 MW captive solar installation cutting about 1,900 tonnes of CO₂ annually. ## 2. Electric-vehicle components: the next-cycle bet **Sintercom is taking its powder-metallurgy skills into electric motors, signing an exclusive five-year licence to make soft-magnetic-composite stators for two-wheelers, three-wheelers, buses and commercial vehicles.** - **Exclusive manufacturing licence** - in FY25 the company signed a Memorandum of Understanding with Horizon Technology Inc. of Pennsylvania, giving it exclusive rights to manufacture and supply Soft Magnetic Composite (SMC) stator parts for EVR-designed electric motors across automotive and industrial applications. The initial term is five years, and Sintercom took no equity stake in Horizon. - **Lighter motors, same core process** - SMC components use the same powder-metallurgy foundation as the company’s existing parts, but produce motor cores that are lighter than traditional laminated steel, helping vehicle makers meet tighter CAFÉ II fuel-efficiency standards. Specific products in development include stators, axial-flux motor parts and half-ring Somloy components. - **Early traction with two-wheeler OEMs** - the company is already working with a leading Indian two-wheeler manufacturer to develop gears for electric-vehicle applications, signalling that its existing customer relationships are pulling it into the EV supply chain rather than it having to build one from scratch. # Group structure and partners **Sintercom is a single-entity company with no subsidiaries, controlled by a three-way promoter group where Austria’s Miba Sinter provides the technology and India’s BRN Industries and Managing Director Jignesh Raval provide local leadership.** - **Three promoters, one technology anchor** - the promoter group consists of BRN Industries, Miba Sinter Holding GmbH & Co. KG (which held 30.57% after converting its compulsory convertible debentures into equity by July 2022), and Managing Director Jignesh Raval. Miba has a nominee on the board and brings access to a global sintering network of 30 production sites and 7,400 employees. - **Cleaned-up shareholder agreement** - in August 2023 the promoters signed a restated shareholders’ agreement that removed non-compete restrictions on BRN, amended non-compete terms for Miba and Mr. Raval to cover only the company’s existing business in India, and dropped pre-emptive and exit rights, giving the company freedom to raise capital however it chooses. The board is capped at six directors, with BRN entitled to two nominees, Miba to one, and Mr. Raval continuing as managing director. - **Experienced board with global auto pedigree** - Chairperson Hari Nair is a former COO of Tenneco Inc. with over three decades in the automotive and commercial-vehicle industry; Managing Director Jignesh Raval spent nine years at Tenneco Automotive India before founding Sintercom. The board also includes three independent directors, providing oversight of the promoter-controlled structure.