### **Overview** Tega Industries Ltd, founded in 1976 and headquartered in Kolkata, India, is a global leader in the design, manufacturing, and supply of *critical-to-operate consumables* and *equipment* for the mining, mineral processing, and bulk solids handling industries. A flagship company of the Mohanka family-promoted Tega Group, the company serves over 700 customers in more than 92 countries. With a strong focus on innovation, sustainability, and vertical integration, Tega has evolved into a comprehensive solutions provider offering end-to-end support across the mineral beneficiation and extractive metallurgy value chain. --- ### **Strategic Transformation: The Molycop Acquisition (2025)** - **September–October 2025** marked a pivotal milestone with the **acquisition of Molycop**, a globally leading supplier of forged grinding media, for an **enterprise value of ~USD 1.5 billion**, co-invested in consortium with Apollo Funds and the promoter family. - Funding: Approximately **₹2,179 crores (USD 248 million)** from internal accruals and debt, with **non-recourse financing** on the acquired entity, minimizing parent-level financial risk. - The **combined entity** is projected to generate: - **~$1.7 billion in annual revenue** - **~$217 million in EBITDA (pre-minority interest)** - Tega maintains **full operational control**, with plans to consolidate Molycop as a key pillar of its global growth strategy. #### **Strategic Rationale** - **Market Leadership**: Positions Tega as one of the **world’s leading integrated providers** of mill liners, grinding media, wear components, and material handling solutions. - **Geographic & Product Synergy**: - Molycop brings a **strong presence in the US, Canada, Latin America (Chile, Peru), and Australia**—key gold and copper mining regions. - Tega’s existing footprint in **Africa, India, and Australasia** complements Molycop’s operations. - **Manufacturing Scale**: Combined entity operates **26 global manufacturing sites**: - Tega: 16 facilities (10 plants + 6 equipment hubs via TMML) - Molycop: 13 grinding ball facilities (including JVs in key mining zones) - **Full Value Chain Coverage**: Seamless solutions across **crushing, grinding, concentrating, refining, and beneficiation**. --- ### **Core Business Segments & Portfolio** Tega operates across two integrated business units: #### **1. Consumables (Organic + Molycop Integration)** - **Core Products**: - Mill Liners: *DynaPrime®, DynaSteel®, DynaPulp®, DynaWear®* (composite and polymer-based) - **Grinding Media**: SAG and ball grinding balls (now enhanced by Molycop) - Wear Products: Chute liners, screens, trommels, conveyor components - Flotation Chemicals: Frothers, collectors, modifiers - Instrumentation: *FloCam, LTM Level Probe, Cynoprobe* - **Key Innovations**: - **DynaPrime®**: Hybrid steel-rubber mill liner; enables **3–5% productivity gain**, eliminates 1-week ramp-up, and reduces energy consumption by up to 5%. - **Rapido® Screen & Combi-Screen**: High-efficiency modular screening solutions. - **MaxxKleen®**: Automated conveyor cleaning system for zero carryback. - **Material Expertise**: Rubber, polyurethane, steel, ceramics, and composites optimized for abrasion, impact, and corrosion resistance. #### **2. Equipment (Tega McNally Minerals Ltd – TMML)** - Formed via **acquisition of McNally Sayaji Engineering Ltd (MSEL)** in **February 2023**, now fully integrated and rebranded as **Tega McNally Minerals Limited (TMML)**. - **Product Portfolio**: - Crushers (Jaw, Impact, Roll), Screens, Feeders, Ball & Rod Mills - Slurry Pumps, Thickeners (HRT), Flotation Cells, Filter Presses, Scrubbers - Mobile & Skid-mounted Plants - **Turnkey Capability**: Now capable of executing **greenfield and brownfield EPC projects**, as demonstrated in the **₹8,716 crore consortium contract with NMDC** (Tega share: ₹1,199 crore). - TMML’s four Indian plants: Vadodara, Asansol, Bengaluru, and Kumardubi. --- ### **Global Footprint & Manufacturing** - **Manufacturing Presence**: - **India**: Dahej (Gujarat), Samali & Kalyani (West Bengal) - **International**: Chile, South Africa, Australia, USA (via Molycop) - **Strategic Locations**: Near **major copper and gold mining hubs** to enable JIT delivery and reduce logistics cost. - **Expansion Initiatives**: - **Chile Greenfield Facility**: Under development to double capacity; to serve Brazil, Argentina, Chile, Peru. Expected to be operational by **FY2026–27**, adding **INR 1,000 crores in annual revenue**. - **Dahej Debottlenecking**: Output set to double to meet rising demand. - **Sales Network**: 18 global sales offices and 14 domestic offices; supports direct engagement with top mining firms. --- ### **Technology, Innovation & Digital Transformation** - **Industry 4.0 Integration**: - **Digital Twins** for real-time manufacturing monitoring. - Connected machines with **SAP S/4HANA**, **Siemens** automation, and **IoT-enabled sensors**. - **Salesforce CRM** and **Darwin Box HR** platforms deployed globally. - **Smart Products**: - Wear sensors and **Continuous Operational Intelligence** on *DynaPrime®* liners for real-time performance analytics. - **Bolt Tension Monitoring System**: Prevents failures with predictive alerts. - **FloCam & Cynoprobe**: Automated process monitoring for efficient flotation and density measurement. - **AI & Big Data**: Used for predictive maintenance, cycle time reduction, and operational optimization. --- ### **R&D & Sustainability** - **Innovation Focus Areas**: 1. Advanced Materials 2. Digitalization 3. Sustainability (ESG-aligned) 4. Continuous Improvement 5. Strategic Collaborations - **R&D Team**: 36+ scientists and engineers driving *built-to-suit* solutions. - **Patents & IP**: Holds **10 global patents**; brands like *DynaPrime*, *Rapido*, *Opti Screen*, *Aggression®*. - **Sustainability Initiatives**: - **DynaGreen™ Initiative**: Enhances material separation efficiency and promotes waste minimization. - **Polymer Liner Recycling Technology**: In-house capability to recycle used liners; *target: 100% recyclable products by 2027*. - **Solar-powered facilities and energy-efficient manufacturing**. - **Investment**: R&D spend to rise from **1% to 3% of revenue** to accelerate innovation. --- ### **Market Position & Competitive Advantage** - **Market Leadership**: - **World’s 2nd largest producer** of polymer-based mill liners by revenue. - **Global leader** in grinding media (post-Molycop) by volume and reach. - **Top 5 global player** in mill liners market overall. - **Customer Base**: - Serves **all Top 10 global copper and gold miners** (Molycop client base). - 85% of Molycop’s volume to gold and copper mines. - Over **400 mines served annually** by Molycop with **25-year avg. customer relationship** among top clients. - **High Barriers to Entry**: Oligopolistic market, technology & knowledge-intensive, high trust requirements, proven performance. - **Revenue Mix**: - Mill Liners: **75.4%** - Bulk Material Handling (Hydrocyclones, Screens, Conveyors): **24.6%** - **Order Book**: **₹10,292 million** as of March 2025; ~60% executable within 1 year. - **Key Strategic Contract**: - **Europe’s largest copper mine**: 6-year agreement (extendable) worth **₹6,852 million** for supply, installation, and management. --- ### **Financial & Operational Highlights** - **Revenue Contribution** (pre-acquisition): - Gold: **40–45%** - Copper: **20–22%** - Iron Ore: **~15%** - Others (Zinc, Platinum, Lithium, Nickel, etc.): **15–20%** - **Recurring Revenue**: ~75% from repeat customers; consumption tied to **OPEX, not CAPEX**, insulating revenue from capital cycle volatility. - **SG&A Synergies**: Significant cost savings expected post-Molycop integration from shared operations, procurement, and distribution. - **EBITDA Margin Expansion**: Driven by economies of scale, vertical integration, and premium product mix. --- ### **Leadership & Governance** - **Promoter & Leadership**: **Mehul Mohanka**, Managing Director & Group CEO since 2016, has led the company’s global expansion and transformation. - **Promoter Stake**: No intention to divest; long-term commitment confirmed. - **Global Subsidiaries**: - Tega McNally Minerals Ltd (India) - Tega Industries Africa Proprietary Limited (South Africa) - Tega Holdings Pty Ltd (Australia) - Tega Industries Chile SpA - Losugen Pty Ltd (Australia)