Consolidated profit before tax climbed 42.2% to Rs 137.34 in Q3 FY23 from Rs 96.58 crore recorded in the corresponding quarter previous year.

Battery Electric Vehicles (BEV) revenue improved to 29% YoY and contributed 26% of total revenue.

EBITDA jumped 43% year on year to Rs 186 crore in quarter ended 31 December 2022. EBITDA margin was at 27.2% in Q3 FY23.

The company said that the net order book increased by 16.1% to Rs 23,800 crore as on 31 December 2022 from Rs 20,500 crore as of 30 September 2022.

For 9 months FY23, the company consolidated net profit rose 7.24% to Rs 275.49 crore on 22.45% jump in net sales to Rs 1,912.42 crore in 9M FY23 over 9M FY22.

Sona Comstar said that it has added eleven new EV programs and six new customers in 9M FY23. The number of awarded programs increased to 41 across 25 different customers.

Vivek Vikram Singh, MD & Group CEO, said, "We delivered our highest quarterly revenue, EBITDA and net profit in Q3 FY23. Our revenue grew 39% y-o-y in the last quarter, driven by the scale-up of revenue from new programs. Our BEV revenue was higher by 29% y-o-y, representing 26% of overall revenues. Despite the continued high steel prices, the EBITDA margin improved by 80 bps y-o-y to 27.2%, driving EBITDA growth of 43%.”

He further added, “We continue to progress on all our key strategic priorities. We won the largest single new order in our history, an EV driveline program which is a big step forward for us in both business development and technology, as this is a new product called an Electronic Differential Lock (EDL). This win demonstrates our ability to keep adding new and higher-value-added products for our customers. We also made our first acquisition since 2019, and with NOVELIC, we have added a third pillar of Sensors and Software to our business."

Meanwhile, the company's board declared an interim dividend of Rs 1.28 for the financial year 2022-23. The record date for the same is fixed on Monday, 6 February 2023.

Sona BLW Precision Forgings is one of the world's leading automotive technology companies. The company has emerged as a global supplier with nine manufacturing and assembly facilities across India, USA, Mexico and China. It is primarily engaged in designing, manufacturing and supplying highly engineered, mission-critical automotive systems and components to automotive OEMs.