In 1973, when a young engineering graduate named RK Behera got a small plot in Jamshedpur from the Industrial Development Corporation, neither he nor his younger brother SK Behera could have imagined that the modest sheet-metal unit they were building would one day become one of India’s respected driveline manufacturers. With capital barely touching Rs 1.5 lakh, the venture depended on perseverance and an innate understanding of what quality meant long before the term became corporate terminology.
The early years were difficult. Orders were scarce, engineering credibility had to be earned, and the Behera brothers spent much of the 1970s convincing customers that they could meet global standards. Yet the foundation they laid during those years remains the same today: RSB Group never compromises on quality and values.
More than fifty years later, that workshop has grown into a diversified conglomerate with 15 manufacturing units spread across India, the United States and Mexico. It has a reputation for disciplined engineering, machining and product development in one of the most demanding parts of the automotive value chain. Now the company is on the brink of a new chapter that could establish it as a global mobility systems player.
standing at inflection point
RSB Group today is a business of scale and complexity. Its propeller shafts hold a major market share in the medium and heavy commercial vehicle segment in India. Its axle, gear and driveline assemblies form the backbone of the marquee truck platform. Its construction equipment sets supply some of the world’s most renowned off-highway OEMs. It also manufactures suspension systems, king pins, fifth wheel couplings and has casting and forging facilities. In addition, the component manufacturer supplies parts for passenger cars, agricultural equipment and industrial applications.
Yet the company’s ambitions go far beyond becoming domestic champions. It currently operates on a consolidated revenue of over Rs 3,000 crore. Over the next five years, its goal is to completely rewrite that number. RSB has set a target of Rs 10,000 crore, with plans to triple revenues within five years through a combination of deep localisation, aggressive exports, strong aftermarket sales and selective acquisitions.
“For us, the question is simple. Either you grow, or remain stagnant,” says Rajnikant Behera, executive director, aftermarket and corporate governance. “We have reached a stage where the next leap requires scale, technology and a global mindset. That’s why we needed a partner like Bain Capital.”
new strategic strength
Bain Capital’s investment in 2023 brought more than financial benefits. This brought a new rhythm to the organization. Within a year, Bain and McKinsey worked with the RSB to create a structured blueprint for the next decade. The focus is clear: strengthening the core, globalizing the footprint and broadening the product canvas.
Behera describes this as a shift from organic growth to strategic acceleration. “In our first twenty-five years, we built the foundation. In the next twenty-five years, we climbed the value chain. The next five years will be about scaling in a way we have never done before.”
The scheme involves an annual capital expenditure of Rs 100 to 150 crore. This does not include acquisitions, which the company considers necessary to keep up with changes in technologies as well as compress the market from time to time. RSB is looking for opportunities in driveline electronics, EV systems, defense components and rail technologies. The deals will be selective and strategically small, designed to add capacity rather than wholesale.
building the future
If the old RSB was built on steel, machining and mechanical precision, the new RSB is being engineered around software-heavy, next-generation electrified systems. The company has already developed its own EV reducers, e-axles, gearboxes, motor technologies and pre-axle assemblies for electric commercial vehicles. Many powertrain solutions are being developed for lightweight EVs. In the United States, RSB has entered early-stage supply discussions for electric dirt bikes.
“We want to be present where mobility is changing. Be it two-wheelers, three-wheelers, light commercial EVs or advanced hybrid vehicles, we have built the engineering bench strength to participate,” says Behera.
The group also aims to break into defense and railways. These are highly regulated fields with long qualification cycles, but RSB believes its precision manufacturing heritage gives it an edge. The company is currently mapping the channel dynamics and tender mechanism that defines government-led procurement.
global sports
RSB’s global presence began in 2007 with a first-of-its-kind move when it acquired Miller Brothers of Michigan. This gave the group a launchpad into the North American market and relationships with tier-1 giants such as Dana, Eaton and Allison. As many of these customers moved production to Mexico, RSB pursued a dedicated manufacturing base.
Today, Mexico is an important part of the company’s export strategy. The US operation serves as an assembly, sales and customer interface hub. Europe is the next frontier. The group already exports to the UK, and internal discussions have begun on whether to set up a physical base somewhere on the continent.
“We are studying FTAs, customer behavior and regulatory changes. To grow exports meaningfully, we may need to have a presence closer to Europe. This will have to be supported by strong economics,” says Behera.
how to survive a bicycle
Automotive is cyclical. Commercial vehicles are double. Yet RSB has managed to grow during the recession by adding new products, entering adjacent sectors and building plants closer to customers. Flexibility has become a competitive advantage.
The group’s Mexican footprint hedges against US tariffs. Its Indian operations are protected from Mexico’s cost pressures. Its engineering subsidiary iDesign serves as an internal R&D engine that powers speed-to-market. In a world where volatility has become structural, the diversified footprint of RSBs is taking shape as a risk-management model.
aftermarket axle
For fifty years, the company’s brand identity has persisted inside OEM factories. Now RSB wants this name to resonate in workshops, retail counters and fleet hubs. The aftermarket business, which is currently a small contributor, is being positioned as a high-margin strategic vertical. The company wants the aftermarket to eventually contribute 5 to 15 percent of the business.
“We have done the hardest work. We have earned the trust of the OEMs. Now we need to take that trust to the aftermarket,” says Behera.
The story of RSB is the story of a company that has steadily but consciously moved towards higher complexity. From sheet metal to machining, from machining to assembly, from assembly to complete systems and now to electrified mobility.
Mission Rs 10,000 crore is the next logical leap in that trajectory. It’s ambitious, but it’s also calculated. It is backed by capital, a global partner with deep M&A capability, a strong engineering backbone and a sector that is changing faster than ever.
“Our first goal is to lead in the product segments we are in. India first, then the world. That’s the vision for the next five years,” says Behera. “After that, the strategy evolves. But the intention is clear. We want to build one of the strongest engineering companies in India.”
