Sona BLW Precision Forgings Ltd. announces Q4 FY23 Results
Highest-ever Revenue, EBITDA and Net Profit in a quarter
Sona BLW Precision Forgings Ltd. (Sona Comstar), a leading automotive technology company providing mission-critical systems and components for electrified and non-electrified powertrain segments, today announced its financial results for the quarter and year ended March 31st, 2023.
Mr Vivek Vikram Singh, MD & Group CEO, commented: "We achieved our highest quarterly revenue, EBITDA and net profit in Q4 FY23. BEV revenue grew 37% y-o-y to cross Rs 200 crores, representing 28% of overall revenues. We closed FY23 with a strong order book, which gives us the confidence to sustain growth momentum in FY24 and beyond. We have made substantial progress on our technology roadmap by developing four new products in FY23. Last quarter, we won a new program from a North American OEM of electric CVs, which is a big step forward for us in business development and technology. We will supply the final drive differential assembly, intermediate gears and input shafts for electric Class 4 CV. This win demonstrates our ability to keep adding new and higher-value-added products for our customers. On the front, we made credible progress by developing and implementing an innovative solution in our forging plant at Gurgaon that helps us recycle and save around 12,000 litres of water per day."
Sona BLW Precision Forgings Limited (Sona Comstar) is one of the world's leading automotive technology companies. It was founded in 1995 and has its headquarters in Gurugram, India. Sona Comstar has emerged as a global supplier with nine manufacturing and assembly facilities across India, the USA, Mexico and China.
Sona Comstar is primarily engaged in designing, manufacturing and supplying highly engineered, mission-critical automotive systems and components to automotive OEMs. Sona Comstar is a leading supplier to the fast-growing global electric vehicle (EV) market. The company has strong R&D, engineering andtechnological capabilities in precision forging, mechanical and electrical systems, as well as base and application software development. It is diversified across geographies, products, vehicle segments and customers.
