spark minda group acquires stoneridge jv stakeashok minda backed minda corporation limited has lined up over 100 million rs 747 crore investment over three years in its endeavour to outpace a slowing market by transforming from an autopart supplier to a system supplieron tuesday minda corporation a part of spark minda group bought back a stake from stoneridge in the mindastoneridge jv thereby taking full control of its automotive instrument cluster and sensors business opening doors for future acquisition opportunities the company is actively scouting for inorganic growth opportunities in the sensors and electronic space to acquire more value per vehicle in the coming years advt ashok minda chairman of minda corporation told et the company is aiming to grow 10 faster than the market the intent is to build capabilities through organic and inorganic ways to attain the targetour technical collaboration with stoneridge continues or rather we have expanded our technical scope however after the stake buy there is a flexibility for us to go in for newer collaboration to access technological products and offer a wider product to customers added minda to be sure the group already entered into jvs and partnership this calendar year with a south korean company infac in the auto electronic space of antennas and it also allied with israeli company ridevision or adasthe spark minda group is evolving to keep pace with the fasttransforming automotive industry that focuses on electrification and connectivity the company is mapping the consumer trends and government regulations closely and will be looking at adding more technologyled products in the futureminda says the role of sensors in the vehicle will only grow in the future and the group is looking at inorganic opportunities or technical collaboration in the sensor space to expand the portfolio on the rationale behind the complete takeover of the stoneridge jv minda said the acquisition would be value accretive for shareholders as the groups financial performance will strengthen the company will have perpetual ownership of all existing technology licenses granted by stoneridge advt stoneridge inc is helping the company in its current need to serve its customer as the localisation of egtegrt sensors became compulsory in all the diesel vehicles posttransition to bsvi the usage of the same will increase once the obd ii norms kick in from april 2023the company says the deal is value accretive to all the shareholders as it improves the companys ebitda margin and the return on capital employed ie roce based on the financials of fy21 minda corporation is trading at evebitda of more than 15 whereas the deal at which they have acquired the remaining stake in the jv is less than 6 this creates value to the shareholders from day 1 as it is eps accretive alsothe acquisition of the 49 stake was made at an enterprise value of rs 240 crorethe 100 ownership in the company would add to the topline worth of around rs 400 crore in the consolidated financials being a jv