Sona BLW Precision Forgings advanced 1.44 per cent to Rs 471.25 after the company’s net profit hit 5 per cent to Rs 92.5 crore in the second quarter of FY23 from Rs 88.2 crore in the second quarter of FY22. The revenue rose by 12 per cent to Rs 657.4 crore Q2FY23 over Q2FY22.
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Battery Electric Vehicles (BEV) revenue, at Rs 131 crore, was higher by 6 per cent year on year and constituted 21 per cent of total revenue. Non-BEV revenue stood at Rs 526.4 crore, up 14 per cent year on year.
Meanwhile, EBITDA improved by 7 per cent on a yearly basis to Rs 165.7 crore, and EBITDA margin declined by 1200 bps to 25.2 per cent in the second quarter of FY23 over the second quarter of FY22.
In H1FY23, the company had four new customers, seven new programs, and award programs, which also increased to 37 across 23 customers.
Vivek Vikram Singh, MD & Group CEO, said: “Despite the macro headwinds and high material prices, we delivered our highest quarterly revenue, EBITDA and net profit in Q2 FY23, demonstrating our solid, resilient, diversified and low fixed cost business model.”
The Sona BLW Precision Forgings (Sona Comstar) is the world’s largest automotive technology company. To emerge as a global supplier with nine manufacturing and assembly facilities all over India, China, USA and Mexico.
