Pursuant to Regulation 30 read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find enclosed the transcript of the Analyst/ institutional investor meet/call, held on April 28, 2026, on Acquisition update.
UNIMECH · price
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Unimech has completed the acquisition of Hobel Bellows for INR 450 crores. Hobel is a specialized manufacturer of metallic bellows, flexible tubing, and precision engineered assemblies with FY26 revenue of approximately INR 129 crores and EBITDA margins exceeding 50%. The business operates a modern 200,000 sq ft facility in Visakhapatnam SEZ and generates 90% of revenues from exports to UK, US, Singapore, and China. Nearly 93% of revenue comes from two key OEM groups across multiple geographies. Hobel is debt-free with pre-acquisition ROCE over 50%, and 70% of its products are single-source (no other supplier). Management guided 15-17% growth over the next 3-4 years and expects the deal to be ROCE accretive from current 25% levels. The acquisition will be run as a separate SBU and is expected to enable entry into aerospace, nuclear, and semiconductor segments.
This acquisition is strategically significant as it immediately expands Unimech's capabilities into engineered assemblies and subsystems with strong cash generation. The high-margin, asset-light business at 6-7x EBITDA is attractively valued and provides clear pathways to aerospace and nuclear markets, though near-term ROCE dilution from the INR 450 crore investment needs monitoring.