New Delhi: Sona BLW Precision Forgings, the automotive technology company providing mission-critical systems and components for electrified and non-electrified powertrain segments, today announced its financial results for the quarter and year ended March 31, 2023.
The company earned a revenue of Rs 744 crore with 35 percent YoY growth, while the revenue share from Battery Electric Vehicles (BEV) stood at 28 percent, a growth of 37 percent YoY. EBITDA stood at Rs 201 crore with a margin of 27.1 percent and 49 percent YoY growth.
PAT stood at Rs 120 crore with a net profit margin of 16.1 percent and 54 percent YoY growth. The EV programs contributed 77 percent to the net order book of Rs 21,500 crore as of March 31, 2023.
Speaking of the results, Vivek Vikram Singh, MD & Group CEO, commented: “We closed FY23 with a strong order book, which gives us the confidence to sustain growth momentum in FY24 and beyond. We have made substantial progress on our technology roadmap by developing four new products in FY23. Last quarter, we won a new program from a North American OEM of electric CVs, which is a big step forward for us in business development and technology.”
He added, “We will supply the final drive differential assembly, intermediate gears and input shafts for electric Class 4 CV. This win demonstrates our ability to keep adding new and higher-value-added products for our customers. On the ESG front, we made credible progress by developing and implementing an innovative solution in our forging plant at Gurgaon that helps us recycle and save around 12,000 litres of water per day.”