SJS Enterprises Limited has formalized its strategic partnership with BOE Varitronix Limited (BOEVX) by executing a Technology License Cum Exclusive Supply Agreement (TLA) on December 18, 2025. This development follows the Memorandum of Understanding signed between the two companies in September 2025, marking a significant milestone in automotive display manufacturing in India.

Agreement Details

The Technology License Agreement encompasses comprehensive collaboration for automotive display systems manufacturing, specifically focusing on optical bonding and assembly of automotive displays for four-wheelers. Key aspects of the partnership include:

Scope of Business Operations

The agreement establishes a comprehensive framework for technology transfer and manufacturing capabilities. BOE Varitronix will transfer Licensed Technology, Know-How, and technical information to SJS Enterprises for the manufacture, assembly, testing, quality control, and supply of automotive display systems.

Strategic Benefits and Leadership Perspective

The collaboration enables SJS Enterprises to enter the automotive display manufacturing space using advanced, proven technology from BOE Varitronix. This partnership supports backward integration, enhances product capabilities, and facilitates localization of key display components.

Mr. Sanjay Thapar, Group CEO Executive Director, SJS Enterprises Limited, commented: "We are pleased to announce our strategic partnership with BOE Varitronix, marking an important step in our journey to diversify and expand into the automotive display segment. Collaborating with a global leader in display technology will enable us to deliver cutting-edge products tailored to the growing demand in India's automotive sector."

Mr. James Park, CSO, BOE Varitronix Limited, stated: "We are delighted to partner with SJS Enterprises in this strategic collaboration, which reflects our commitment to advancing automotive display technologies in India. By combining BOEVX's global expertise with SJS's strong manufacturing capabilities, we aim to deliver to customers in India localized solutions for automotive displays."

Market Implications and Growth Strategy

This formalization positions SJS Enterprises strategically in India's growing automotive display market, opening a new growth vertical in digital automotive displays. The partnership strengthens SJS's position as a comprehensive decorative aesthetics solutions provider in the automotive sector while addressing the growing demand for advanced display systems in India.

Corporate Governance Compliance

SJS Enterprises has confirmed that the transaction does not fall under related party transactions, with promoters and promoter group having no interest in BOE Varitronix. This ensures transparency and adherence to regulatory requirements under SEBI guidelines.

SJS Enterprises , a leading player in the automotive and consumer appliances components sector, has unveiled an ambitious growth strategy aimed at doubling its revenue within the next three to four years. The company's bold vision is underpinned by its focus on premiumisation trends and technological advancements in the industry.

Strategic Growth Plan

Group CEO Sanjay Thapar expressed strong confidence in achieving this target, stating that SJS Enterprises is poised to grow at twice the industry rate. This aggressive growth strategy is expected to capitalize on emerging market trends and the company's enhanced technological capabilities.

Acquisition as a Catalyst

A key driver of SJS Enterprises' growth strategy is its recent acquisition of Spanish firm Walter Pack. This strategic move has significantly bolstered the company's capabilities, particularly in complex tooling and specialized 2K moulding technology. The acquisition has already yielded tangible benefits, with the company's kit value per vehicle increasing substantially:

Margin Stability and Segment Shift

Despite the ambitious growth plans, SJS Enterprises remains committed to maintaining its historical profit margins of 25-26%. This indicates the company's confidence in its operational efficiency and cost management strategies.

Interestingly, the company has experienced a significant shift in its revenue composition:

It's important to note that the decrease in two-wheeler revenue share is attributed to the rapid growth of the four-wheeler segment rather than a decline in two-wheeler business.

Market Response

The market has responded positively to SJS Enterprises' growth strategy and recent performance. On Tuesday, the company's shares closed 0.87% higher at Rs 1,358.00, reflecting investor confidence in its future prospects.

As SJS Enterprises embarks on this ambitious journey, industry observers will be keenly watching its progress in navigating the evolving automotive and consumer appliances landscape while striving to achieve its revenue doubling target.