Gurugram, India – Sona BLW Precision Forgings Ltd. (Sona Comstar), a leading mobility technology company providing mission-critical systems and components for electrified and non-electrified powertrain segments, today announced its financial results for the quarter ended June 30, 2025.
Key Financial Highlights – Q1 FY26
- Revenue of Rs. 8,509 million, lower by 5% YoY
- Revenue share from Battery Electric Vehicles (BEV) at 28%, BEV revenue lower by 25% YoY
- EBITDA of Rs. 2,025 million, lower by 19% YoY, with an EBITDA margin of 23.8%,
- PAT of Rs. 1,247 million, lower by 12% YoY with a net profit margin of 14.3%,
- EV programs contribute 75% to the net order book* of Rs. 262 billion as of June 30, 2025
Management Comment
Mr. Vivek Vikram Singh, MD and Group CEO, stated: “Q1 FY26 was a challenging quarter for us due to the convergence of multiple adverse factors, which are temporary, and some have started to resolve already. We ended the quarter with a few large order wins, closing the quarter with an all-time high net order book. We have received a large order from a North American OEM to supply differential assemblies. This is our largest order win in the last two and a half years. We believe this is likely to be one of the most significant and successful EV launches in many years. We have strengthened our position as the leading supplier of drive motors for electric two- and three-wheelers in India by securing another order from our existing customer for their upcoming electric three-wheelers. We have recently signed a term sheet with JNT to form a JV in China. This JV marks a significant step in our strategy to expand into the rapidly growing Asian markets. With a robust order book already in place, we expect operations to commence later this year.”
Operational Highlights – Q1 FY26
Electrification:
- BEV Revenue Share: Revenue from Battery EV was lower by 25% YoY, Rs. 2,106 million, and contributed 28% of total revenue.
- EV programs:In Q1 FY26, we added two new EV programs, bringing the total number of awarded programs to 60 across 32 customers.
Key Developments:
- Sona Comstar signed a binding term sheet with Jinnaite Machinery Co., Ltd (JNT) on 20th July 2025 to establish a joint venture (JV) company in China. The JV will manufacture and supply driveline systems and components to automotive OEMs in China and globally. Sona Comstar will invest $12 million, while JNT will contribute $8 million in assets and business to the joint venture in the first phase. The JV is expected to commence operations in the second half of the current financial year, marking a significant milestone in Sona Comstar’s expansion into the Chinese EV market.
- Sona Comstar has received an order from an existing customer, a North American OEM of ICE and Electric Passenger Vehicles, to supply differential assemblies with final drive gear for their new electric passenger vehicle platform. This program has added Rs 15.5 billion to our order book, and production is likely to commence in Q3 FY28.
- Sona Comstar has received an order from an existing customer, an Indian OEM of ICE and Electric two-wheelers and three-wheelers, to supply drive motors for their new electric three-wheeler. This program has added Rs 2.6 billion to our order book, and production is likely to commence in Q4 FY26.
- Sona Comstar completed the acquisition of the Railway Equipment Division from Escorts Kubota Limited on June 1, 2025. The business has been fully integrated into the company, and financials have been consolidated since that date.
* refer to Investor Presentation
