New Delhi: Sona BLW Precision Forgings Ltd. (Sona Comstar), a number one automotive technology company offering mission-critical programs and parts for electrified and non-electrified powertrain segments, immediately introduced its financial results for the quarter and nine-months ended December 31, 2022.

In Q3 FY23, Sona Comstar posted a income of INR 685 crore with 39% YoY development. Battery Electric Vehicles (BEV) accounted for 26% of income, with a 29% year-on-year enhance in income. EBITDA of Rs. 186 crores with a margin of 27.2% and 43% YoY development. PAT of Rs. 107 crores with a web revenue margin of 15.6% and 45% YoY development. The web order e-book elevated to INR 23,800 crores from Rs. 20,500 crores as of September 30, 2022.

Within the first 9 month of FY23, Sona Comstar posted a income of INR 1,932 crores, up 22% yr on yr. 25% income share is from battery electric vehicles (BEV), with BEV income development of 31% YoY. EBITDA of INR 494 crores with an EBITDA margin of 25.6% and 17% YoY development. PAT of INR 276 crores with a web revenue margin of 14.3% and 18% YoY development. The web order e-book elevated to INR 23,800 crores from INR 18,600 crores as of March thirty first, 2022.

Commenting on the efficiency, Vivek Vikram Singh, MD and Group CEO, mentioned, “We delivered our highest quarterly income, EBITDA, and web revenue in Q3 FY23. Our income grew 39% yr over yr within the final quarter, pushed by the scale-up of income from new applications. Our BEV income was increased by 29% y-o-y, representing 26% of general revenues.”

He added, “Regardless of the continued excessive metal costs, the EBITDA margin improved by 80 foundation factors yr over yr to 27.2%, driving EBITDA development of 43% and PAT development of 45%. We proceed to make progress on all our key strategic priorities. We received the biggest single new order in our historical past, an EV driveline program, which is an enormous step ahead for us in each enterprise improvement and expertise, as it is a new product referred to as an Digital Differential Lock (EDL). This win demonstrates our means to maintain including new, higher-value merchandise for our prospects. We additionally made our first acquisition since 2019, and with NOVELIC, we’ve got added a 3rd pillar of sensors and software program to our enterprise.”

Operational Highlights: Q3 FY23 and 9M FY23

A world EV OEM has awarded the corporate a brand new program to produce digital differential lock (EDL) for his or her upcoming BEV mannequin. This program has added INR 3,350 crores to our order e-book and is the only largest new order win in our firm’s historical past. This system’s begin of manufacturing is in H2 FY24.

The corporate has been awarded a brand new program for a US-European OEM of PVs and EVs to produce differential assemblies for his or her upcoming BEV mannequin. This program has added INR 360 crore to our order e-book. This system’s begin of manufacturing is in H2 FY24.

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