Sona BLW spurts after Q1 PAT spurts 37% QoQ

Sona BLW Precision Forgings jumped 6.79% to Rs 439.80 after the auto ancillary company's consolidated net profit jumped 37.7% to Rs 82.23 crore on 7.1% decline in net sales to Rs 500.75 crore in Q1 FY22 over Q4 FY21.

Consolidated profit before tax rose 24% to Rs 110.17 crore in Q1 FY22 as compared to Rs 88.94 crore in Q4 FY21. EBITDA stood at Rs 139 crore in Q1 FY22. rising 375% YoY while EBITDA margin grew to 27.7% from 19% in Q1 FY21.

The company's net order book stood at Rs 14,000 crore as of 30 June 2021.

Commenting on the performance, Vivek Vikram Singh, MD & Group CEO said, We are pleased to report a strong performance in our first earnings announcement as a listed entity. Despite headwinds, we have delivered robust revenue growth and best-in-class profitability and return metrics. We continue to make significant progress on our strategic imperatives of increasing electrification, global market share, diversification, and product innovation. Our net order book stands at Rs. 14,000 crore as of June 30th, 2021 of which 57% is from EV.

Sona BLW Precision Forgings (Sona Comstar) manufactures various components like differential assemblies, differential gears, conventional and micro-hybrid starter motors and has nine plants spread across India, China, Mexico, and the US.

Shares of Sona BLW Precision entered the bourses on 24 June 2021. The scrip was listed at a price of Rs 302.40 per share, at a premium of 3.92% as compared to issue price. The initial public offer (IPO) of Sona BLW Precision Forgings received bids for 24.44 crore shares as against 10.71 crore shares on offer, according to the stock exchange data. The issue was subscribed 2.28 times. The issue opened for bidding on 14 June 2021, and closed on 16 June 2021. The price band for the IPO was set at Rs 285-291 per share.

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