Sona BLW shares rise 3% after robust Q3 show, EV battery revenue

Shares of Sona BLW Precision Forgings traded 3.4 percent higher in the morning trade to Rs 599 on January 24 after it reported a 24 percent year-on-year (YoY) rise in net profit at Rs 113.6 crore for the third quarter.

In the corresponding period of the preceding fiscal, the company recorded a substantial increase in revenue from operations, surging by 15.8 percent to reach Rs 781.80 crore, compared to Rs 675.30 crore.

At 9:55am, the stock was trading at Rs 588, up 1.5 percent from the previous close on the NSE. In the last year, the stock has given a return of over 35 percent.

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EBITDA jumped almost 32 percent to Rs 232.5 crore in the third quarter of this fiscal over Rs 176.5 crore in the corresponding period in the previous fiscal. EBITDA margin witnessed an improvement, reaching 29.7 percent in the reporting quarter, up from 26.1 percent in the year-ago period.

The company’s net order book has surged to its highest at Rs 24,000 crore, up from Rs 21,500 crore as of March 31, 2023, driven by five new BEV (battery electric vehicle) programme wins. In Q3 of FY24, revenue from battery EVs grew by 28 percent YoY, reaching Rs 222 crore, constituting 30 percent of the total revenue.

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