Hind Rectifiers acquires France-based BeLink in major boost to global footprint, shares locked at 5 percent upper circuit

The transaction will bring a state-of-the-art production and testing infrastructure under Hind Rectifiers, the management said.

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Maker of power electronic equipment, Hind Rectifiers has acquired a France-based robotics and EMS R&D company BeLink Solutions for Euro one million, the company announced in an exchange filing on September 19, boosting its global footprint and locking the shares at 5 percent upper circuit.

The transaction will bring a state-of-the-art production and testing infrastructure under Hind Rectifiers, the management said.

BeLink Transaction Details

Commenting on the BeLink acquisition, Suramya Nevatia, Chairman, Managing Director & CEO of Hind Rectifiers said, "It gives us not only a strong base in Europe but also the ability to combine advanced production capabilities with deep R&D in robotics." BeLink has sophisticated infrastructure, and coupled with Hind Rectifier's expertise in power electronics, the deal will help push innovation, said Nevatia.

The acquisition has been paid entirely in cash and funded through internal accruals, Hind Rectifiers said, with Euro two million being infused into the proposed subsidiary. In the new French subsidiary, Hind Rectifiers will holding preference shares and 66% equity while the promoter group will hold the remaining 34% equity.

Deal Rationale

The acquisition helps establish a European base for EMS, Robotics and Power Electronics manufacturing for Hind Rectifiers, along with a 'strategic manufacturing base' in Europe, which the company said is expected to enhance its global manufacturing capabilities.

This will also offer access to world-class infrastructure, as BeLink Solutions has six fully automated production lines and advanced testing equipment. The deal enhances revenue visibility for Hind Rectifiers as BeLink is expected to generate Euro 13 million in revenue for 2025, with an additional Euro 10 million in pending orders for 2026.

Global Footprint

Hind Rectifiers has exported transformer and power electronics converter to Germany in Q1FY26, which will also be exported to the US for the first time. "...we never got an opportunity to export into Europe and US and that marks a big sort of entry into that geography for Railways. So we are pursuing with them, and we have more
opportunities and more inquiries," said Suramya Nevatia during the June quarter earnings call.

"...we are building new products, which will have more export potential and that will come into play. So before we have the products ready, we are trying to build our sales channel and sales pipeline globally," Nevatia added.