Auto Parts & Equipment company Sona BLW Precision Forgings announced Q1FY24 results: Revenue of Rs 732 crore with 24% YoY growth Revenue share from Battery Electric Vehicles (BEV) at 26%, BEV revenue growth of 13% YoY EBITDA of Rs 203 crore with a margin of 27.8% and 43% YoY growth PAT of Rs 112 crore with a net profit margin of 15.3% and 48% YoY growth EVs programs contribute 78% to the net order book of Rs 22,000 crore as of June 30th, 2023 Vivek Vikram Singh, MD & Group CEO, commented: "We achieved our highest-ever quarterly EBITDA in Q1FY24. Our revenue grew 24% YoY, driven mainly by the scale-up of the new customer programs. The reduction in FAME-II subsidies has resulted in lower production by the electric two-wheelers industry, thus impacting our traction motor sales. Despite this, our BEV revenue grew 13% YoY, representing 26% of overall revenues. EBITDA margin improved by 360 bps YoY to 27.8%, driving EBITDA growth of 43% and PAT growth of 48%. We have continued to progress on all our key strategic priorities. With four new BEV program wins, our net order book grew to Rs 22,000 crore, of which EVs contribute 78%. Last quarter, we won a new program to supply the hub wheel traction motor for electric scooters from an Indian OEM of Electric and ICE two-wheeleRs In addition, we won a new program to supply the differential assembly for electric Class 5 trucks from a North American OEM of electric CVs. We entered a new mobility segment by winning a new program from a global OEM to supply final drive differential assemblies for recreational off-highway vehicles (OHVs). We have made substantial progress on our technology roadmap by partnering with a road-tested technology partner in Equipmake to enter the high-voltage motor and inverter space." Result PDF