The company's net order book stood robust at INR 23,100 crore as of September 30, 2024.Sona BLW Precision Forgings (Sona Comstar) reported a 16% year-on-year growth in consolidated Profit After Tax (PAT), reaching INR 143.57 crore for the quarter ending on September 30, 2024, up from INR 124.06 crore in the same period of the previous fiscal year. The company also saw its revenue from operations increase by 17% to INR 922.18 crore, compared to INR 787.46 crore during Q2FY23. Additionally, Sona Comstar announced a significant acquisition agreement with Escorts Kubota Ltd (EKL) for its Railway Equipment Division at an enterprise value of INR 1,600 crore.
Revenue from Battery Electric Vehicles (BEV) formed a significant part of the company’s earnings, constituting 36%. The BEV revenue also experienced a substantial year-on-year growth of 53% during the reviewed quarter.
The company's net order book stood robust at INR 23,100 crore as of September 30, 2024.
"We have continued to progress on all our key strategic priorities," stated Vivek Vikram Singh, Managing Director and Group CEO at Sona BLW Precision Forgings.
In a strategic move, Sona Comstar signed an agreement with Escorts Kubota Ltd to acquire its Railway Equipment Division (RED) on a slump sale basis, valued at INR 1,600 crore, subject to the terms of the agreement.
