Bonfiglioli IPO

Bonfiglioli Transmissions is the Indian manufacturing arm of Bonfiglioli S.p.A., the Italian gearbox and drives group, and it makes the hardware that converts a motor's rotation into controlled, high-torque movement — gear motors, gearboxes, planetary drives and the electronics that run them. The range starts at 13 Nm helical, bevel and worm gear motors used on conveyors, mixers and packaging lines and reaches 1,400 kNm planetary units, and it includes the yaw and pitch drives that turn a wind turbine's nacelle into the wind and twist its blades. The company was incorporated in Tamil Nadu in 1998 as Bonfiglioli Deepak Private Limited and has operated in India for more than 25 years; the Bonfiglioli brand itself is close to 70 years old. It runs three plants — Thirumudivakkam and Mannur in Tamil Nadu and Talegaon in Maharashtra — which together built 341,133 gear motors and gearboxes in CY2025. As of 30 June 2026 it employed 627 people on-roll within a 1,032-person workforce, sold through 13 sales offices and 44 dealers (36 of them exclusive), and served more than 930 customers directly. By revenue, Frost & Sullivan ranks it India's largest maker of gearboxes below 15 kNm and drives serving the industrial automation, off-highway mobility and wind markets.

Three verticals carry the business. Industry & Automation Solutions was 40.95% of CY2025 revenue from operations and sells largely catalogue gear motors and gearboxes to OEMs and through dealers into material handling, chemicals and pharma, mining, food, metal processing and textiles — customers include ElectroMech Material Handling, GMM Pfaudler, Terex India and Ammann India, and no single end-industry contributes more than 10% of the vertical. Off-Highway Mobility was 25.18% and is a co-engineering business: swing, track, drum, wheel and hoist drives designed alongside JCB India, CNH Industrial, Schwing Stetter, Hyundai Construction Equipment, Action Construction Equipment and Wirtgen. Wind was 31.53%, supplying yaw and pitch drives to Nordex India, Senvion and Suzlon, a niche where F&S puts the company's domestic share at 67.9%. By channel, CY2025 revenue was 63.30% direct, 19.42% through dealers and 15.22% inter-company sales to other Bonfiglioli Group entities for onward sale — that last share climbed to 20.00% in H1 CY2026. Exports were 27.51% of CY2025 revenue. Critically, the intellectual property and the brand sit with the Italian parent and are licensed in; the Indian company owns no registered trademarks, patents or designs of its own, and has historically returned profit upward as dividend — ₹92.75 Cr in CY2025 and ₹109.98 Cr in the first six months of CY2026 alone.