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, on Tuesday reported that its revenue for FY24 posted 19% YoY growth at INR 3,185 crore. Revenue share from Battery Electric Vehicles (BEV) was at 29%, and BEV revenue increased 32% YoY.
EBITDA was at INR 902 crore with a margin growth of 28.3% and 30% YoY. Profit after tax (PAT) was at INR 517 crore with a margin of 16.3% and YoY growth of 31%, the company said.
Its net order book has increased to INR 22,600 crore, from INR 21,500 crore as of March 31, 2023, with 39 new program wins and five new customer additions, the company said in a media release.
For Q4 of FY 24, the company recorded a revenue of INR 885 crore with 19% YoY growth. Revenue share from BEV at 32%, posted a growth of 34% YoY. EBITDA of INR 248 crore posted a margin of 28.0% YoY growth of 23%. PAT of INR 149 crore was with a net profit margin of 16.7% and YoY growth of 24%. The EV programs contribute 79% to the net order book of INR 22,600 crores as of March 31, 2024, the release said.
Vivek Vikram Singh, MD & Group CEO, said, “We achieved our highest quarterly revenue, EBITDA and net profit in Q4 FY24. BEV revenue grew 34% y-o-y, led by strong EV differential assembly sales growth, and BEV revenue share increased to the highest ever, 32%. EBITDA margin improved by 180 bps y-o-y to 28.0%, driving EBITDA and PAT growth of 23% and 24%. We closed FY24 with a strong order book, which gives us the confidence to sustain growth momentum in FY25 and beyond. We continue to build on our EV order book, and in Q4, we added one new EV program to supply differential assemblies to an existing customer in North America. Overall, we added 12 new EV programs and four new EV customers during the year, further growing and diversifying our EV order book.”
