has announced the acquisition of Hobel Bellows, a specialized manufacturer of metallic bellows and precision engineered assemblies, for an enterprise value of INR450 crores. The all-cash transaction includes a 10% holdback for one year. For the year ended March 31, 2026, Hobel Bellows reported approximately INR129 crores in revenue with EBITDA margins exceeding 50%. The acquisition is margin accretive and debt-free, with the target business generating a return on capital employed of over 50% prior to acquisition. Please note that the information shared is intended solely for informational purposes and does not make any investment recommendations.