Conference Call with Sona BLW Precision Forgings Management and Analysts on Q3FY23 Performance and Outlook. Listen to the full earnings transcript. Management in attendance: Vivek Vikram Singh and Senior Team
Auto parts & equipment company Sona BLW Precision Forgings announced Q3FY23 results: Q3FY23: Revenue of Rs 685 crore with 39% YoY growth 26% revenue share from Battery Electric Vehicles (BEV), BEV revenue growth of 29% YoY EBITDA of Rs 186 crore with a margin of 27.2% and 43% YoY growth PAT of Rs 107 crore with a net profit margin of 15.6% and 45% YoY growth The net order book increased to Rs 23,800 crore from Rs 20,500 crore as of September 30th, 2022. 9MFY23: Revenue of Rs 1,932 crore with 22% YoY growth 25% revenue share from Battery Electric Vehicles (BEV), BEV revenue growth of 31% YoY EBITDA of Rs 494 crore with an EBITDA margin of 25.6% and 17% YoY growth PAT of Rs 276 crore with a net profit margin of 14.3% and 18% YoY growth The net order book increased to Rs 23,800 crore from Rs 18,600 crore as of March 31st, 2022. Commenting on the performance, Mr Vivek Vikram Singh, MD & Group CEO, said: "We delivered our highest quarterly revenue, EBITDA and net profit in Q3FY23. Our revenue grew 39% YoY in the last quarter, driven by the scale-up of revenue from new programs. Our BEV revenue was higher by 29% YoY, representing 26% of overall revenues. Despite the continued high steel prices, the EBITDA margin improved by 80 bps YoY to 27.2%, driving EBITDA growth of 43% and PAT growth of 45%. We continue to progress on all our key strategic priorities. We won the largest single new order in our history, an EV driveline program which is a big step forward for us in both business development and technology, as this is a new product called an Electronic Differential Lock (EDL). This win demonstrates our ability to keep adding new and higher-value-added products for our customers. We also made our first acquisition since 2019, and with NOVELIC, we have added a third pillar of Sensors and Software to our business." Result PDF
