Nov 28, 2022 10:41 AM
Auto parts & equipment company Sona BLW Precision Forgings announced Q2FY23 results:
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."
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Sona BLW Precision Forgings Ltd. manufactures differential case assemblies and forged bevel gears. It was incorporated on October 27, 1995, with its headquarters in Gurugram, Haryana. The leading faces in the Sona BLW’s top management are Rohit Nanda, Sunjay Kapur, Shradha Suri, Venkata Rama Subbu Behara, and others. As of 31 March 2022, Sona BLW disclosed a quarterly net income of Rs 104.66 crore. Its shares are listed on the National Stock Exchange (script code: SONACOMS) and the Bombay Stock Exchange (BOM code: 543300).
Sona BLW product line includes belt starter generator systems, electric vehicle traction motors, micro-hybrid starter motors, and a few more. It currently has its manufacturing units in India, China, the United States, and Mexico.
Sona BLW Precision Forgings Ltd.’s revenue saw an average yearly growth of 33.63% over the past five years. The figure is much better than sectoral performance, which grew merely at a 6.53% rate. In FY 2022, Sona BLW posted a net income of Rs 361.54, which is Rs 146.38 crore more than the previous financial year. The earnings per share (EPS) for the past five consecutive financial years are Rs 2.33, Rs 5.20, Rs 8.02, Rs 3.78, and Rs 6.22, respectively. Now let’s move to the Sona BLW’s balance sheet. In FY21, the company reported its assets worth Rs 2,174.84 crore. Out of that, its current assets were Rs 820.96 crore, and the remaining were fixed assets. The company’s non-current liabilities for the same duration were recorded at Rs 397.55. However, the company’s liquidity position in FY21 was unsatisfactory, with a negative free cash flow of Rs 76.21 crore.
On 23 May 2022, the Sona BLW share price on NSE reported a closing price of Rs 539.05. Sona BLW Precision Forgings Ltd.’s share price has been fluctuating for the past 52 weeks. During this period, Sona BLW share made a high of Rs Rs 839.90, while the low was recorded at Rs 295. If you plan to invest in Sona BLW share price today, be aware that its volatility is 3.38 times that of the Nifty. The company’s peers on the stock exchange are Bosch Ltd., Minda Industries Ltd., Mothersons Sumi Systems Ltd., and Schaeffler India Ltd.
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Sona Enclave Village, Begumpur Khatola Sector 35, Gurugram, Haryana, 122004
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