SAT Industries Limited, through its subsidiary M.R. Organisation Ltd., has acquired a 51% equity stake in Madhura Compressors Pvt. Ltd., a strategic move designed to expand its capabilities in the high-margin centrifugal compressor industry. This acquisition aligns with SAT Industries’ vision to integrate and scale its compressor ecosystem both domestically and globally.

About the Acquisition

M.R. Organisation Ltd., already a key player in the engineering and industrial equipment segment, has now added Madhura Compressors Pvt. Ltd. to its business portfolio by acquiring a majority stake. This 51% acquisition, finalized in May 2025, brings cutting-edge compressor technology, strong client relationships, and decades of domain expertise under the SAT umbrella.

Madhura, a trusted name in centrifugal compressors and related components, will now operate with enhanced strategic support from M.R. Organisation, allowing deeper industry penetration and better service delivery across aftermarket segments.

Who is Madhura Compressors Pvt. Ltd.?

Established over 25 years ago, Madhura Compressors Pvt. Ltd. has built a strong reputation for engineering excellence and customer trust. The company’s offerings include:

• Centrifugal compressors

• Intercoolers, after coolers, oil coolers, and replacement coolers

• Impellers, diffusers, gears, and heat exchangers

• PLC panels and control systems

• Customised compressor components

• Energy-saving audits and aftermarket services

These products cater to high-demand industries such as steel, power, pulp & paper, automotive, and textiles.

With FY25 revenue of INR 13.13 crores and strong EBITDA margins, Madhura has demonstrated profitability and consistent growth. It also boasts a robust clientele of over 90 top-tier corporates, including:

• Tata Steel

• JSW Steel & Energy

• Jindal

• Bosch

• Godrej

Strategic Rationale Behind the Acquisition

SAT Industries and M.R. Organisation Ltd. have been actively enhancing their engineering solutions and industrial manufacturing ecosystem. The addition of Madhura Compressors fits strategically due to several key factors:

1. Product Line Synergy:
   Madhura’s compressor technology and precision engineering services complement M.R. Organisation’s existing compressor and engineering businesses.

2. Aftermarket & Service Expansion:
   With growing global demand for aftermarket services, particularly in energy-intensive industries, this acquisition unlocks service synergies and ensures deeper customer engagement.

3. High-Margin Segment:
   Centrifugal compressors are a high-margin business segment, and the acquisition gives M.R. Organisation a stronger foothold with proven products and an established brand.

4. Cross-Selling Opportunities:
   Combining client bases opens the door to cross-selling compressor components and services, driving organic growth and improving market penetration.

5. Energy Audits and Custom Services:
   Madhura’s expertise in energy-saving audits and customised component manufacturing provides value-added capabilities that appeal to industries striving for efficiency and sustainability.

Leadership and Vision

The business will continue to benefit from the leadership of Mr. Bapu Kadam, an industry expert with over 38 years of experience in the compressed air and energy management sector. His technical depth and market knowledge will ensure the company’s strategic alignment with SAT Industries' long-term goals.

Mr. Mayur Kamdar, Managing Director of M.R. Organisation Ltd., shared his insights:

"This acquisition reflects our long-term vision to scale and integrate the compressor value chain under M.R. Organisation. This business adds strong technical depth, a high-margin product line, and long-standing customer trust. It perfectly complements our existing compressor offerings. We are confident that this strategic acquisition will unlock cross-selling synergies and accelerate our aftermarket expansion globally."

Key Benefits of the Acquisition

• Product Expansion:
  Entry into the centrifugal compressor market with innovative components and services.

• Global Market Reach:
  Enhanced ability to serve international customers in the power, steel, and manufacturing sectors.

• Cross-Selling Synergies:
  Opportunities to offer Madhura’s products to M.R. Organisation’s existing client network and vice versa.

• Deep Industry Expertise:
  Access to a skilled team with deep experience in compressor design, manufacturing, and energy auditing.

• Aftermarket Services:
  Boosting after-sales support, repair, and energy efficiency solutions to grow recurring revenue streams.

Market Outlook and Future Strategy

The industrial compressor market in India is expected to witness consistent growth owing to:

• Rising demand in steel and power generation

• Growing focus on energy-efficient solutions

• Increased infrastructure and manufacturing activities

With Madhura now part of its group, SAT Industries is positioned to be a more integrated and influential player in this expanding market.

Over the next few years, SAT Industries plans to:

• Scale Madhura’s offerings globally

• Launch joint R&D programs to innovate compressor technology

• Establish dedicated service centers for centrifugal compressor servicing

• Target new sectors such as pharmaceuticals and petrochemicals

Conclusion

The acquisition of Madhura Compressors Pvt. Ltd. is a strategic milestone for SAT Industries and its subsidiary M.R. Organisation. It not only strengthens their product portfolio but also empowers them to tap into high-margin, service-oriented segments of the global compressor ecosystem. The move showcases SAT’s long-term commitment to innovation, energy efficiency, and client-centric growth in the engineering and industrial solutions domain.

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