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