Brands
LML partners with former Harley Davidson manufacturing facility in India
MUMBAI : Laying the groundwork for a long-term future in the EV business in India, LML Electric on Thursday announced a strategic partnership with Saera Electric Auto, which formerly handled manufacturing for global major – Harley Davidson.
The company will use Saera’s facility located in the auto hub of Bawal in Haryana to produce its disruptive range of upcoming electric vehicles. “The highly advanced and innovative infrastructure of Saera, backed by its historical competence in manufacturing will now be leveraged to develop the much talked about and anticipated EV range of products from the LML electric stable,” the company said in a statement.
LML highlighted that it intends to build a future-ready manufacturing facility using Saera’s technology and processes. It termed the partnership as one of the first of many steps for LML to transition into a 100 per cent ‘Make in India’ company by end of 2025.
“The manufacturing plant, which spans 2,17,800 square feet and has a capacity of 18,000 units per month, is equipped with state-of-the-art infrastructure. It’s prior excellence in manufacturing for global behemoths would offer a distinct edge in streamlining, scaling up, and providing world-class quality assurance to LML, making this a very promising collaboration,” it said in the statement
LML CEO Yogesh Bhatia said Saera was the company’s first choice because it holds unparalleled expertise and reputation with some of the world’s premier auto brands. “With this alliance as we aspire to create a brand that is 100 per cent localised and has an impeccable quality assurance that is world-class. We foresee an immediate need for automakers to reduce their dependence on imports and build an infrastructure that is designed and capable to address the rapidly growing demand in India and the world over. We are confident that this partnership will be a stepping stone in our vision to redefine and reimagine the future of EV manufacturing in India to bring the country at par with global manufacturing standards.”
Brands
Devyani International Ltd plans three-subsidiary merger to streamline operations
QSR operator moves to streamline structure and unlock operational synergies
Devyani International is tightening its corporate kitchen. The quick-service restaurant operator has approved a scheme to merge three subsidiaries—Sky Gate Hospitality, Blackvelvet Hospitality and Say Chefs Eatery—into the parent company in a bid to simplify its structure and sharpen operational efficiency.
The decision was cleared at a board meeting on March 10 and disclosed in a regulatory filing to the stock exchanges. The merger will take effect from April 1, 2025, subject to statutory approvals.
All three transferor companies are direct or indirect wholly owned subsidiaries, meaning no fresh shares will be issued and the shareholding pattern of Devyani International will remain unchanged once the scheme is completed.
The subsidiaries together operate more than 100 outlets—including dine-in restaurants and cloud kitchens, spread across over 40 cities such as Delhi NCR, Mumbai, Kolkata and Bengaluru.
Devyani International, the largest franchisee of Yum Brands in India, said the consolidation is aimed at generating operational synergies, optimising resource utilisation and reducing layers within the corporate structure.
Financially, the move brings together businesses of varying scale. As of March 31, 2025, Devyani International reported a net worth of Rs 10,381.02 million and turnover of Rs 33,493.33 million. Sky Gate Hospitality posted a net worth of Rs 761.14 million with turnover of Rs 2,657.57 million, while Blackvelvet Hospitality and Say Chefs Eatery reported smaller operations and negative net worth.
The merger will consolidate these operations under a single corporate umbrella as the company sharpens its focus on scale and efficiency.
Devyani International currently runs more than 2,000 outlets across over 280 cities in India, Nigeria, Nepal and Thailand. Its portfolio includes franchise rights for brands such as Pizza Hut, KFC, Costa Coffee, Tea Live, New York Fries and Sanook Kitchen, alongside its own food brands.
With the paperwork underway and approvals pending, Devyani is essentially clearing the corporate clutter—turning three subsidiaries into one tighter, leaner operation. In the QSR world, even the back office needs a spring clean.
