The automotive components manufacturer posted quarterly revenue of ₹11,435 million, though electric vehicle segment sales declined 17% year-over-year amid global EV market challenges.
27 Oct 2025 | 2753 Views | By Arunima Pal
Sona BLW Precision Forgings Limited (Sona Comstar) reported revenue of ₹11,435 million for the second quarter of fiscal year 2026, representing a 24% increase compared to ₹9,251 million in the same quarter last year. The company's EBITDA grew 13% to ₹2,891 million, while profit after tax increased 20% to ₹1,728 ...
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Sona BLW Precision Forgings Limited (Sona Comstar) reported revenue of ₹11,435 million for the second quarter of fiscal year 2026, representing a 24% increase compared to ₹9,251 million in the same quarter last year. The company's EBITDA grew 13% to ₹2,891 million, while profit after tax increased 20% to ₹1,728 million.
The growth was partially offset by a decline in the company's battery electric vehicle (BEV) segment, which fell 17% year-over-year to ₹2,647 million. Despite this decrease, BEV products maintained a 32% share of total automotive product revenue. For the first half of FY26, overall revenue reached ₹19,944 million, up 10% from the previous year.
The quarter marked the first full period including revenue from the company's recently acquired railway business. EBITDA margin compressed to 25.3% from 27.6% in the prior year quarter, which management attributed to adverse operating leverage and product mix changes.
Sona Comstar's order book stood at ₹236 billion at the end of Q2, representing 6.8 times FY25 revenue. Electric vehicle programs comprised 70% of the total order book value at ₹165 billion. The company added two new EV programs during the quarter, bringing its total to 62 programs across 32 customers.
The company won its first program for its Mexico facility, securing a ₹2,600 million order to supply differential assemblies to a North American recreational vehicle manufacturer, with production scheduled to begin in Q2 FY28. Additionally, Sona Comstar expanded an existing suspension motor order with two new vehicle models and one new customer, adding ₹8,200 million in lifetime value.
Sona Comstar operates 12 manufacturing plants globally, with facilities in India, China, Mexico, and the United States. The company supplies components to seven of the world's top 10 passenger vehicle manufacturers and has established a presence across electric vehicles, traditional automotive, and non-automotive segments including railway systems.
The company reported free cash flow from operations of ₹1,427 million for the first half of FY26. Capital expenditure during the period totaled ₹1,971 million, while the company invested ₹16,955 million in its railway and NOVELIC acquisitions.
Return on capital employed (ROCE) stood at 15.8% as of September 30, 2025, compared to 18.4% in March 2025. The company maintains a net debt-to-EBITDA ratio of negative 0.99, indicating a net cash position.
During the quarter, Sona Comstar showcased its technology capabilities at the Consumer Electronics Show 2025, displaying radar sensors for in-cabin and short-range applications. The company also announced the successful development of rare earth-free motors, positioning itself in the growing market for sustainable electric vehicle technologies.