The deal team recommends that the Committee approve proceeding to binding offer at an enterprise value of ₹352.0 Cr, representing 9.0× FY25 EBITDA, subject to the confirmatory items in Section 5.

Acme is a tier-2 precision components supplier holding qualified positions on three long-running domestic OEM programmes, with an export book that has grown to 18% of FY25 volume and is weighted toward the EU.

Customer concentrationJWJames WhitfieldnowQuote the exact CIM wording here — legal will ask.CancelComment. The top three customers represent 62% of FY25 revenue against the CIM's stated position of no single client above 15%. Mitigant: a contractual step-down on the largest account is being negotiated as a condition of close.

Supply concentration. 72% of raw material spend runs through two Gulf-region suppliers with limited qualified alternates on file.

Basis of the FY25 growth presentation; status of the unlisted Chennai capex; renewal of the Pune water discharge permit.