Schaeffler India to fully acquire Koovers for Rs 1.42 B

31 Aug 2023 CW Team

Schaeffler India Ltd announced on Monday its complete acquisition of KRSV Innovative Auto Solutions Pvt Ltd, operating under the brand Koovers, for Rs 1.42 billion . Koovers, based in Bengaluru, serves Indian aftermarket workshops with spare parts solutions through a B-to-B e-commerce platform.

Schaeffler India expressed that this acquisition aligns perfectly with their future after-sales endeavors in India. It's seen as a crucial component of the growing aftermarket digital landscape and will benefit distribution partners.

According to the share purchase agreement, Schaeffler India will purchase 100% of KRSV Innovative Auto Solutions for approximately Rs 1.424 billion. The transaction is expected to be completed in the third quarter of CY 2023, pending customary closing conditions, and will be financed through internal cash generation.

Harsha Kadam, Managing Director and CEO of Schaeffler India, emphasised that this strategic move aims to maximise value creation for their repair solutions and simplify workshop operations.

Koovers' CEO and Co-founder, Sandeep Begur Sheshadri, noted that under Schaeffler India's ownership, Koovers will expand its market reach, enhance its product portfolio, and continue serving the automotive aftermarket.

Schaeffler's automotive aftermarket division is a global supplier of components and comprehensive repair solutions for the spare parts industry, supporting garages in complex repairs while extending vehicle lifespans.

Founded in 2015, Koovers has established itself as a B-to-B e-commerce platform, providing spare parts solutions to over 7,000 workshops in India. In the fiscal year 2022-23, it achieved a revenue of Rs 777 million and offers a portfolio of approximately 1.8 million parts from various manufacturers.

Following the acquisition, the platform will retain its brand name, Koovers, under Schaeffler India's ownership.

Infrastructure Urban

06 Nov 2025

Concord Control Systems Limited Reports ~85% YoY Growth in H1 FY26

Concord Control Systems Limited (BSE: CNCRD | 543619), India’s leading manufacturer of embedded electronic systems and critical electronic solutions, announced its unaudited financial results for the half year ended September 30, 2025.Financial Highlights – H1 FY26 (YoY Comparison)Revenue from Operations rose to ₹815.45 million, up from ₹497.53 million in H1 FY25, marking a 63.90% year-on-year growth.EBITDA increased to ₹217.34 million, compared to ₹142 million in the same period last year.EBITDA Margin stood at 26.65%, compared to 28.54% in H1 FY25, with the decline attributed to ..

Gateway Distriparks Announces Q2 FY25 Results

Gateway Distriparks Limited (GDL), one of India’s leading multimodal logistics providers, announced its financial results for the quarter ended 30 September 2025.For Q2, the company reported total revenue of INR 154.8 crore (H1: INR 316.9 crore), EBITDA of INR 20.56 crore (H1: INR 45.65 crore), PBT of INR –4.23 crore (H1: INR –0.28 crore), and PAT of INR –2.91 crore (H1: INR –0.37 crore). The company stated that these numbers reflect the consolidation of accounts following Snowman Logistics transitioning from an associate company to a subsidiary in December 2024.Commenting on the per..

Last-Mile Connectivity a Prime Focus, Says Ms. Ashwini Bhide,

The IMC Chamber of Commerce and Industry (IMC) hosted a high-impact Managing Committee session today on the theme “Mumbai Metro: Transforming Connectivity and Commuting.” The session featured an insightful address by Ms. Ashwini Bhide, Managing Director, Mumbai Metro Rail Corporation Ltd. (MMRCL), who shared updates on key transport infrastructure developments across Mumbai and the MMR region.Emphasising the city’s critical economic role, Ms. Bhide noted, “Mumbai is the economic powerhouse of Maharashtra, with more than 95% of the region’s population living in urban areas. As Maharas..