Q2FY23 Quarterly Result Announced for Sona BLW Precision Forgings Ltd.
Auto parts & equipment company Sona BLW Precision Forgings announced Q2FY23 results: Q2FY23: Revenue of Rs. 657 crore with 12% YoY growth Battery Electric Vehicles (BEV) revenue of Rs. 131 crore with 6% YoY growth EBITDA of Rs. 166 crore with an EBITDA margin of 25.2% PAT of Rs. 93 crore with a net profit margin of 14.1% H1FY23: Revenue of Rs. 1,247 crore with 15% YoY growth 25% revenue share from Battery Electric Vehicles (BEV), BEV revenue growth of 33% YoY EBITDA of Rs. 308 crore with an EBITDA margin of 24.7% PAT of Rs. 168 crore with a net profit margin of 13.5% The net order book increased to Rs. 20,500 crore from Rs. 18,600 crore as of March 31st, 2022 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." Result PDF28-10-2022