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Date of investment: October 2007

M&M and IVFA acquired DGP Hinoday, a trusted name with over 11 years of manufacturing experience in ductile iron castings and over 40 years of manufacturing experience in Ferrites. At the time of acquisition, Hinoday offered a wide range of products in each of the three businesses encompassing ductile iron castings, ceramic magnets and ferrite cores.

Hinoday is the largest independent ductile iron casting company in the automotive segment with an excellent track record in quality.

  • IVFA investment rationale >
    • One of the best SG Iron foundries in India with excellent management team
    • Completed first phase of capacity expansion to 40,000 MT/yr
    • Second phase of expansion would take the capacity to 100,000 MT/yr
    • Opportunity to partner with M&M, a large, highly reputed, fast growing automotive major
  • IVFA value addition >
    • Helped in formulating future growth plans
    • Evaluated several in-organic growth opportunities

Detailed information on the Company is available at http://www.mahindra.com/systech/Mahindra-Castings.html