Rs 22,100 crore order book and FIIs increase stake: This automotive giant reports impressive quarter and bags two big orders!

Shares of the company gained more than 10 per cent in the last six months.

Sona BLW Precision Forgings Limited (Sona Comstar) announced its financial results for the quarter ended September 30, 2023. The revenue for the quarter grew 20 per cent YoY to Rs 791 crores, with a 27 per cent share from Battery Electric Vehicles (BEV). BEV revenue grew 58 per cent YoY. The EBITDA for the quarter grew 35 per cent YoY to Rs 223 crores, with a margin of 28.2 per cent. The net profit for the quarter grew 34 per cent YoY to Rs 124 crores, with a net profit margin of 15.7 per cent.

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Sona Comstar also won two new BEV programs in the quarter, and its net order book as of September 30, 2023, was Rs. 22,100 crores, of which 78 per cent is from EVs. Overall, Sona Comstar had a strong quarter and half year, with revenue, EBITDA, and net profit growth all outpacing the overall market. The company is also well-positioned for future growth, with a strong order book and a focus on the growing EV market. FIIs have increased their stake in the company to 33.35 per cent in September 2023.

Sona BLW Precision Forgings is one of the leading automotive technology companies in India. It is primarily engaged in designing, manufacturing, and supplying high-quality mission-critical automotive components such as differential assemblies, gears, conventional and micro-hybrid starter motors, etc.

Investors should keep a close eye on this stock.

Disclaimer: The article is for informational purposes only and not investment advice.