SJS Enterprises Limited (NSE: SJS), a leading player in decorative aesthetics and auto components, saw its shares climb over 2% in morning trade on September 17 after announcing a strategic Memorandum of Understanding (MoU) with BOE Varitronix Limited (BOEVX), Hong Kong.
The agreement aims to strengthen India’s automotive display ecosystem by enabling the local manufacturing and assembly of advanced automotive display screens. Under the MoU, BOEVX will transfer technology to SJS Enterprises for setting up assembly lines and optical bonding facilities, along with localization of cover glass and backlight units for the four-wheeler automotive market in India.
The partnership is designed to reduce import dependency and support the government’s “Make in India” initiative. The MoU includes a clause of mutual exclusivity between both parties and is valid for six months, with an option to extend by mutual consent. Subject to a successful feasibility study and regulatory approvals, the arrangement could evolve into either a Technical Assistance Agreement (TAA) or a Joint Venture.
SJS clarified in its filing that it holds no shareholding in BOEVX, and the transaction does not fall under related party transactions. No immediate issuance of shares or board appointments are part of the agreement.
The company also highlighted that further disclosures will be made as and when material developments occur.
