Conference Call with Sona BLW (Sona Comstar) Management and Analysts on Q2FY23 Performance and Outlook. Listen to the full earnings transcript.
Auto parts & equipment company Sona BLW Precision Forgings announced Q2FY23 results: Q2FY23: Revenue of Rs. 657 crore with 12% YoY growth Battery Electric Vehicles (BEV) revenue of Rs. 131 crore with 6% YoY growth EBITDA of Rs. 166 crore with an EBITDA margin of 25.2% PAT of Rs. 93 crore with a net profit margin of 14.1% H1FY23: Revenue of Rs. 1,247 crore with 15% YoY growth 25% revenue share from Battery Electric Vehicles (BEV), BEV revenue growth of 33% YoY EBITDA of Rs. 308 crore with an EBITDA margin of 24.7% PAT of Rs. 168 crore with a net profit margin of 13.5% The net order book increased to Rs. 20,500 crore from Rs. 18,600 crore as of March 31st, 2022 Commenting on the performance, Mr Vivek Vikram Singh, MD & Group CEO, said: "Despite the macro headwinds and high material prices, we delivered our highest quarterly revenue, EBITDA and net profit in Q2 FY23, demonstrating our solid, resilient, diversified and low fixed cost business model. Our revenue grew 12% YoY in the second quarter, ahead of the light vehicle sales growth in our key markets, driven by the scale-up of revenues from new programs. Despite the high material prices, the EBITDA margin improved QoQ to 25.2%. We continue to progress on our key strategic priorities. Our net order book remains strong at Rs. 20,500 crores, of which EVs now contribute more than two-thirds. We continue to direct our R&D; efforts towards creating ground-breaking products for our customers. Last quarter, we developed and commercialized net-formed Spiral bevel gears, perhaps for the first time in the world." Result PDF
Conference Call with Sona BLW Precision Forgings Management and Analysts on Q1FY23 Performance and Outlook. Watch the full earnings transcript.
Auto Parts & Equipment firm Sona BLW Precision Forgings Announced Q1FY23 Result : Revenue grows 18% YoY, BEV Revenue grows 68% YoY, BEV Revenue share of 29% EBITDA margin at 24.2%, PAT grows 5% YoY, RoCE of 29% Won six new BEV programs; net order book increased 10% QoQ to INR 205bn Revenue of Rs. 589 crores with 18% YoY growth; highest revenue ever in a quarter 29% revenue share from Battery Electric Vehicles (BEV), BEV revenue growth of 68% YoY EBITDA of Rs. 143 crores with an EBITDA margin of 24.2% PAT of Rs. 76 crores with 5% YoY growth The net order book increased to Rs. 20,500 crores from Rs. 18,600 crores as of March 31st, 2022 Commenting on the performance, Mr Vivek Vikram Singh, MD & Group CEO, said: "The global automotive markets remained challenging as light vehicle sales declined 17% due to the supply side disruptions. Our revenue grew 18% y-o-y in the first quarter, driven by the rapid scale-up of revenue from BEV programs, which are higher by 68% y-o-y, representing 29% of overall revenues. Our EBITDA growth was lower at 3% due to further increase in the material and power costs during last quarter. We are seeing margin pressure beginning to ease off during the current quarter, and we hope this reversal in inflation continues. We have continued to progress on all our key strategic priorities. Q1 FY23 was our second-best quarter ever for business development, led by significant new EV program wins for final drive differential assemblies and traction motors from large OEMs. With six new BEV program wins, our net order book grew 10% to Rs. 20,500 crores, of which EVs now contribute two-thirds." Result PDF