Sona Comstar Q2 net profit rises 34% to Rs 124 crore

Auto parts maker Sona BLW Precision Forgings Ltd (Sona Comstar) on Wednesday reported a 34 per cent rise in net profit to Rs 124 crore in the September quarter. The company had recorded a profit of Rs 93 crore in the year-ago period, the company said in a release.

Revenue up 20%

Revenue during the second quarter of the current fiscal increased 20 per cent to Rs 791 crore compared to Rs 657 crore in the July-September period of the previous fiscal, the company said.

Strong growth in BEV revenue

We achieved our highest revenue, earnings before interest, taxes, depreciation and amortisation (EBITDA) and net profit. Battery Electric Vehicles (BEVs) revenue grew 58 per cent year-on-year to Rs 207 crore, representing 27 per cent of total revenue, Sona BLW Precision Forgings Ltd MD and Group CEO Vivek Vikram Singh said.

EBITDA margin improves

EBITDA margin improved by 300 basis points year-on-year to 28.2 per cent, driving EBITDA growth of 35 per cent and PAT growth of 34 per cent, he said.

New program wins

We continue to progress on all our key strategic priorities. With two new BEV program wins, our net order book grew to Rs 22,100 crore, of which EVs contributed 78 per cent, he said. We won a new program to supply electric traction motors for e-three-wheelers from one of the largest Indian OEMs, he said.

This program, which is likely to commence from the third quarter of FY25, has added Rs 370 crore to the order book, Sona BLW Precision Forgings said. The company's strong performance in the second quarter was driven by robust growth in its BEV business and continued focus on operational efficiency. Going forward, Sona Comstar is well-positioned to benefit from the growing demand for electric vehicles and its strong order book.