Sona BLW Precision Forgings Limited Share: A Beacon in Automotive Technology
Sona BLW Precision Forgings Limited Share: Today, Sona BLW Precision Forgings Limited witnessed a brisk 3% surge in its share prices. Notably, the stock volume of the company increased more than 3.57 times, indicating a robust investor interest. With a market capitalization standing at approximately ₹30,918.72 crores, the company seems to be making waves in the financial sphere.
Sona BLW Precision Share: Recently, the company unveiled its Q2FY24 financial results, which reflected promising figures. In the September quarter, the company registered an impressive revenue of ₹791 crores, marking a 20% growth year-over-year. Highlighting its innovative strides, a noteworthy 27% of the company’s revenue is attributable to Battery Electric Vehicles (BEV), witnessing a significant annual spike of 58%. The company’s EBITDA soared to ₹223 crores, backed by a healthy margin of 28.2% and an annual growth of 35%. In the same period, the company reported a Profit After Tax (PAT) of ₹124 crores, bolstered by a 15.7% net profit margin and an annual increase of 34%.
Beyond the strong financial performance, Sona BLW’s focus on electric vehicle (EV) technology is evident in its net order book, which as of September 30, 2023, stood at a staggering ₹22,100 crores, with 78% dedicated to EV programs. This underscores the company’s commitment to the ever-evolving EV sector.
Sona BLW Precision Share Operational Highlights for Q2 FY24 & H1 FY24:
- Secured a coveted order from a North American new-age OEM to supply rotor-embedded differential sub-assemblies for high-performance electric cars, amplifying the order book by ₹170 crores. Production is slated for the second quarter of FY25.
- An Indian OEM entrusted the company with an order for mid-drive traction motors intended for upcoming electric three-wheelers. This has contributed ₹370 crores to the order book, with production set for the third quarter of FY25.
- The BEV segment saw a 33% annual rise in revenue, reaching ₹391 crores in H1 FY24, constituting 27% of total revenue.
- The company expanded its portfolio by onboard six new programs and partnering with two new clients, resulting in collaborations across 48 programs with 28 different clients.
- On September 4, 2023, the company completed its acquisition of a 54% equity stake in NOVELIC, enhancing its footprint in the sensor and software domains. NOVELIC, a prime provider of mmWave radar sensors, perception solutions, and embedded systems, boasts of extensive vertical integration and global partnerships across automotive OEMs, autonomous vehicle producers, Tier-1 suppliers, and chip manufacturers.
About the Company: Based in India, Sona BLW Precision Forgings stands as a pioneer in automotive technology. With a primary focus on designing, manufacturing, and supplying advanced automotive systems and components, their range spans across differential assemblies, gears, both traditional and micro-hybrid motors, Belt Starter Generator (BSG) systems, and Electric Vehicle (EV) traction motors. Their expertise doesn’t just lie in mechanical and electrical hardware systems. They also innovate essential base and application software solutions that propel innovation in the automotive domain.
Leading the way in providing integrated automotive solutions that cater to the changing demands of the industry, Sona BLW Precision Forgings also witnessed significant purchasing activity, with its stock observing an upward trajectory of more than 25% this year. This trajectory signifies the market’s confidence in the company’s future prospects and its role in shaping the automotive industry’s future.