In June 2007, Adithya Srivatsa Jayakar was a high school graduate preparing for a sociology degree at Butler University, but his real education began on the factory floors of Illinois.
He joined Amtec Precision Products, a U.S. subsidiary of the Chennai-based UCAL Ltd., as a trainee, just two years after the Indian parent company acquired the firm to gain a foothold in the American automotive and defense markets. Nearly two decades later, after an Executive MBA from Notre Dame and a rotation through every major corporate function, Jayakar was appointed Deputy Managing Director in November 2024 to steer the legacy manufacturer through evolving technologies and market dynamics.
Today, UCAL, a company built on the precision of carburetors and mechanical fuel pumps, is aggressively pivoting toward a future defined by mechatronics and electric vehicles (EVs).
Under Jayakar’s leadership, the firm is attempting to balance the books by milking the high-margin aftermarket, while investing significantly in electronics that will keep it relevant in a decarbonized world.
Jayakar is the son of Jayakar Krishnamurthy, CMD of UCAL Ltd. His grandfather, Dr. V. Krishnamurthy, was the founding Chairman of Maruti Suzuki and also the Chairman of BHEL and SAIL.
The Survival Strategy: Aftermarkets and Exports
The shift is not just a strategic choice; it is a necessity for business resilience as legacy products phase out. UCAL’s response has been to aggressively target the aftermarket segment, which Jayakar describes as "a significant market." Unlike selling directly to car manufacturers (Original Equipment Manufacturers or OEMs), the aftermarket allows for higher margins and direct consumer reach. To achieve this, UCAL rapidly expanded its distribution channels and increased its market reach to new geographies.
Simultaneously, UCAL is leveraging its legacy expertise to fuel a surge in export earnings from regions like Latin America, Africa, and the Middle East. In the more advanced North American market, it is pitching high-tech indigenous innovations like specialized fuel rails for premium cars and vacuum pumps.
“We want to play as a dominant player in newer technologies,” Jayakar says, emphasizing that the company is no longer just a component maker but an engineering-led firm.
Engineering the Pivot: From Mechanical to Mechatronics
The broader automotive component industry is currently caught in a transition between two eras. Companies like UCAL, and its competitors Uno Minda and Endurance Technologies, must master mechatronics, the fusion of mechanical systems with electronics. For UCAL, this means repurposing decades of air and fuel management knowledge into EV architectures.
UCAL has established a dedicated R&D center for electronics to develop sensors and embedded systems for green mobility. This technical transformation is backed by a heavy investment cycle; between FY21 and FY25, UCAL’s capital expenditure (capex) totaled approximately Rs 107.48 crore, peaking at Rs 45.79 crore in FY24 as new production lines were established. At its Maraimalai Nagar plant, the company has commissioned lines for high-potential components like Intake Throttle Valves, while a new facility at Mahindra World City is dedicated solely to export-bound water outlets.
Currently, core products like throttle bodies and oil pumps still account for over 50% of revenue, but the move into premium segments is gaining ground. Sales of throttle bodies alone grew by over 20% year-on-year during FY25, helping to buffer the declining demand for older technologies.
The Road Ahead: A Decarbonized Identity
As the Indian government pushes for aggressive sustainable mobility goals, UCAL is attempting to integrate sustainability into its operational identity. The company now draws more than 70% of its power from renewable sources like wind and solar and is exploring "net zero" opportunities in hydrogen and micro-mobility.
For Adithya Jayakar, the goal is to complete the transformation he began as a trainee in Illinois: moving UCAL from a local carburetor manufacturer to a global, diversified engineering powerhouse capable of surviving the electric revolution. While the transition is fraught with challenges like material scarcity and infrastructure gaps, UCAL’s proactive shift suggests a firm determined not to be left behind in the combustion era.