Gurugram, India: Sona BLW Precision Forgings Ltd. (Sona Comstar), a leading 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 nine months ended December 31st, 2021.
Commenting on the performance, Mr. Vivek Vikram Singh, MD & Group CEO, said: “This was a challenging quarter for us as light vehicle production in our key markets of USA and Europe declined over 20% y-o-y due to the semi-conductor chip shortage. Our revenue growth of 1% y-o-y in the third quarter has been driven by rapid scale up of revenues from BEV, which are higher by 108% y-o-y, and now represent 29% of overall revenues. Our profitability and return ratios remain strong, despite the impact of sharply rising input prices. We have been awarded a new program to supply integrated motor controller module for the customer’s predictive active suspension system that adds a new revenue stream for us as a company. With 4 new BEV programs awarded during the quarter, our net order book grew 29% to Rs. 17,600 crore of which 66.4% is contributed by EV.”
BSG, especially the thermal management and the software modules. It adds a new revenue stream for us as a company, with this first order win itself adding over Rs 400 crore revenue per year.
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