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Sona BLW Precision shares slide 6% in trade; here's what's dragging stock

The revenue of the company for the quarter under review stood at Rs 868 crore as compared to Rs 782 crore a year ago which implies a rise of 11 per cent year-on-year (Y-o-Y)

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SI Reporter Mumbai

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Sona BLW Precision Forgings shares lost 5.8 per cent in trade on Friday and logged an intraday low of Rs 511.10 per share. The selling pressure in the stock came after the company posted Q3 results which missed Street's consensus on certain parameters. 
 
Around 12:43 PM, Sona BLW shares were down 2.87 per cent at Rs 527.10 per share on BSE. In comparison, the BSE Sensex was up 0.56 per cent at 76,949.91. The market capitalisation of the company stood at Rs 32,756.11 crore. The 52-week high of the stock was at Rs 767.8 per share and the 52-week low was at Rs 511.1 per share. 
 
 
Sona BLW released its Q3 results on Thursday, after market hours, which showed that the company's consolidated net profit rose 13 per cent to Rs 151 crore as compared to Rs 134 crore a year ago.  
 
The revenue of the company for the quarter under review stood at Rs 868 crore as compared to Rs 782 crore a year ago which implies a rise of 11 per cent year-on-year (Y-o-Y). However, it missed Bloomberg's estimate of Rs 910 crore. 
 
The company's earnings before interest, tax, depreciation, and amortisation (Ebitda) stood at Rs 234.23 crore as compared to Bloomberg's consensus of Rs 250.62 crore. As per the filing, electric vehicle (EV) programs contribute 76 per cent to the net order book of Rs 23,200 crore as of December 31, 2024.  ALSO READ: Here's why Exicom Tele-Systems was locked in 5% upper circuit on Jan 24
 
"We secured a new program to supply differential assemblies for one of our existing customers innovative EV models in India. Additionally, we received our second product order in the sensors and software vertical and successfully commercialised a new product, Zone Monitoring Sensors. We are also pleased to announce a major technological breakthrough in developing a 180-degree field of view using short-range radar sensors. Furthermore, we have increased our global market share in both differential gears and starter motors in 2024," the filing read. 
 
In the past one year, Sona BLW shares have lost 7.2 per cent against Sensex's rise of 7.6 per cent. 
 

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First Published: Jan 24 2025 | 1:05 PM IST

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