Sona BLW Precision Forgings Ltd. has announced its financial results for the quarter and nine months ended December 31, 2024.
Key Financial Highlights – Q3 FY25
Revenue of Rs. 868 crores with 12% YoY growth
Revenue share from Battery Electric Vehicles (BEV) at 39%, BEV revenue growth of 48% YoY
EBITDA of Rs. 234 crores with a margin of 27.0% and 3% YoY growth
PAT of Rs. 151 crores with a net profit margin of 17.4% and 14% YoY growth
EV programs contribute 76% to the net order book* of Rs. 23,200 crores as of December 31, 2024
Key Financial Highlights – 9M FY25
Revenue of Rs. 2,686 crores with 17% YoY growth
Revenue share from Battery Electric Vehicles (BEV) at 36%, BEV revenue growth of 52% YoY
EBITDA of Rs. 740 crores with an EBITDA margin of 27.6% and 13% YoY growth
PAT of Rs. 437 crores with a net profit margin of 16.2% and 19% YoY growth
Vivek Vikram Singh, MD and Group CEO, stated, “In Q3 FY25, we achieved our highest-ever quarterly net profit, BEV revenue, and BEV revenue share. We have made significant progress on all our key strategic priorities. Our BEV revenue grew by 48% year-over-year, now representing 39% of our overall revenues. We secured a new program to supply differential assemblies for one of our existing customers’ innovative EV models in India. Additionally, we received our second product order in the sensors and software vertical and successfully commercialized a new product, Zone Monitoring Sensors. We are also pleased to announce a major technological breakthrough in developing a 180-degree field of view using short-range radar sensors. Furthermore, we have increased our global market share in both differential gears and starter motors in 2024.”
Operational Highlights – Q3 FY25 and 9M FY25
Electrification:
BEV Revenue Share: Revenue from Battery EV grew 48% YoY Rs. 329 crores in Q3 FY25 and contributed 39% of total revenue.
EV programs: In Q3 FY25, we added one new EV program, bringing the total number of awarded programs to 57 across 32 customers.
Key Developments:
Sona Comstar’s board of directors has approved an investment of $4.0 million in ClearMotion Inc., the leading software-defined chassis company. The company’s proactive suspension and road sensing software mitigate vehicle motion across uneven road surfaces. ClearMotion was founded out of MIT and has locations in Boston, USA, Birmingham, UK and Shanghai, China.
Sona Comstar has received a new order from an existing customer, an Indian OEM of PVs, CVs, OHVs and EVs, to supply differential assemblies for their new electric passenger vehicles. This program has added Rs 300 crores to our order book. Production is likely to commence in Q2 FY27.
As per Crisil estimates, Sona Comstar’s global market share in differential gears increased from 8.1% to 8.8% in 2024. The company’s global market share in starter motors increased from 4.2% to 4.4% in 2024.
Sona Comstar’s subsidiary, NOVELIC, a leader in short-range radar technology, showcased an entirely new approach for affordable 180° field of view (FOV) radar modules at CES 2025 in January. NOVELIC’s latest radar development, ASPER200, is a 79 GHz short-range exterior radar module for use in passenger vehicles, commercial vehicles, motorcycles, transportation, and construction vehicles.