Profit before exceptional items and tax climbed 40.71% to Rs 153.18 in Q4 FY23 from Rs 108.86 crore recorded in the corresponding quarter previous year. Exceptional items stood at Rs 33.69 crore during the quarter.

Battery Electric Vehicles (BEV) revenue grew 37% YoY to Rs 204 crore in Q4 FY23, contributing 28% to total revenue.

EBITDA jumped 49% year on year to Rs 201 crore in quarter ended 31 March 2023. The rise in the EBITDA was mainly due to positive impact from operating leverage and product mix. EBITDA margin improved to27.1% in Q4 FY23 as compared to 24.6% registered in Q4 FY22.

In financial year ended March 2023, the company's consolidated net profit rose 9.3% to Rs 395.30 crore on 25.8% increase in revenue to Rs 2,655.01 crore.

The net order book jumped 15.59% to Rs 21,500 crore as of 31 March 2023 from Rs 18,600 crore as of 31 March 2022.

The company said that the EVs programs contribute 77% to the net order book.

Sona Comstar said that it has added twelve new EV programs and seven new EV customers in FY23. The number of awarded programs increased to 42 across 26 different customers.

Vivek Vikram Singh, MD & Group CEO, commented, “BEV revenue grew 37% yoy to cross Rs 200 crore, representing 28% of overall revenues. 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. 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."

Meanwhile, the company's board has recommended a final dividend of Rs 1.53 per equity share for the financial year 2022-23. The record date for the same is fixed on Friday, 30 June 2023 and the payment of the dividend will be completed on or before 30 days from the date of declaration of final dividend by the shareholders.

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.

Shares of Sona BLW Precision Forgings were up 0.65% to Rs 492.10 on the BSE.