Sona BLW Precision Forgings Ltd registers INR 744 cr revenue in Q4 FY23

Sona BLW Precision Forgings Ltd. (Sona Comstar), a leading automotive technology company providing mission-critical systems and components for electrified and non-electrified powertrain segments, has announced its financial results for the quarter and year ended March 31st,  2023.

The company registered revenue of INR 744 crore marking a 35% Y-o-Y growth in Q4 FY23. In the same period, revenue share from Battery Electric Vehicles (BEV) stood at 28%, BEV revenue growth of 37% YoY, EBITDA of INR 201 crores with a margin of 27.1% and 49% YoY growth. The profit after tax (PAT) was INR 120 crore with a net profit margin of 16.1%. The EV program contributed 77% to the net order book of INR 21,500 crore as of March 31, 2023.

For the FY23, revenue stood at INR 2,676 crores with 26% YoY growth. Revenue share from Battery Electric Vehicles (BEV) stood at 26% and the company’s EBITDA was at INR 696 crore. For the same period, profit after tax stood at INR 395 crore with a net profit margin of 14.8%.

Speaking of the results,  Mr Vivek Vikram Singh, MD & Group CEO, commented: “We achieved our highest quarterly revenue, EBITDA and net profit in Q4 FY23. BEV revenue grew 37% Y-o-Y to cross Rs 200 crores, representing 28% of overall revenues. We closed FY23 with a strong order book, which gives us the confidence to sustain growth momentum in FY24 and beyond. We have made substantial progress on our technology roadmap by developing four new products in FY23. Last quarter, we won a new program from a North American OEM of electric CVs, which is a big step forward for us in business development and technology.”

“We will supply the final drive differential assembly, intermediate gears and input shafts for electric Class 4 CV. This win demonstrates our ability to keep adding new and higher-value-added products for our customers. On the ESG front, we made credible progress by developing and implementing an innovative solution in our forging plant at Gurgaon that helps us recycle and save around 12,000 litres of water per day,” he added.