Sona BLW Precision Forgings announces Q3 FY23 Results

Sona BLW Precision Forgings (Sona Comstar) today announced its financial results for the quarter and nine-months ended December 31st, 2022.

Commenting on the performance, Mr Vivek Vikram Singh, MD & Group CEO, said: "We delivered our highest quarterly revenue, EBITDA and net profit in Q3 FY23. We continue to progress on all our key strategic priorities. We won the largest single new order in our history, an EV driveline program which is a big step forward for us in both business development and technology, as this is a new product called an Electronic Differential Lock (EDL). This win demonstrates our ability to keep adding new and higher-value-added products for our customers. We also made our first acquisition since 2019, and with NOVELIC, we have added a third pillar of Sensors and Software to our business."

The key financial highlights Q3 FY23 are that the company generated a revenue of Rs 685 crores with 39 per cent YoY growth. 26 per cent revenue share from Battery Electric Vehicles (BEV), BEV revenue growth of 29 per cent YoY. EBITDA of Rs 186 crores with a margin of 27.2 per cent and 43 per cent YoY growth. PAT of Rs 107 crores with a net profit margin of 15.6 per cent and 45 per cent YoY growth. The net order book increased to Rs 23,800 crores from Rs 20,500 crores as of 30 September 2022.

Revenue of Rs 1,932 crores with 22 per cent YoY growth recorded in 9 months of FY23. 25 per cent revenue share from Battery Electric Vehicles (BEV), BEV revenue growth of 31 per cent YoY. EBITDA of Rs 494 crores with an EBITDA margin of 25.6 per cent and 17 per cent YoY growth. PAT of Rs 276 crores with a net profit margin of 14.3 per cent and 18 per cent YoY growth. The net order book also increased to Rs 23,800 crores from Rs 18,600 crores as of March 31st, 2022.

Global EV OEM has awarded the company a new program to supply Electronic Differential Lock (EDL) for their upcoming BEV model.