India · Delayed Price · Currency is INR Sona BLW Precision Forgings Earnings Call Transcripts
Fiscal Year 2026
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Q4 FY26 delivered record revenue, EBITDA, and BEV share, with strong growth across segments and geographies. Margin pressure from commodity inflation and product mix persists, but robust cash flows and a healthy order book support continued investment and diversification.
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Record quarterly revenue and EBITDA were achieved, driven by strong growth in India, robust EV traction motor performance, and successful diversification into non-automotive segments. Margins remained resilient despite product mix changes and commodity price pressures, with a strong order pipeline and prudent capital allocation supporting future growth.
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Record quarterly revenue, EBITDA, and net profit achieved despite BEV revenue decline and supply chain challenges. Diversification across products, geographies, and customers drove growth, with strong performance in railway and off-highway segments. Net order book stands at INR 236 billion, 70% EV share.
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Q1 FY26 saw a 5% revenue and 19% EBITDA decline year-over-year, mainly due to temporary supply chain and demand disruptions. Despite this, the company achieved a record order book, expanded into China via JV, and expects margin stabilization and revenue diversification in coming quarters.
Fiscal Year 2025
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Q4 FY2025 saw record net profit despite a 2% revenue dip, with BEV revenue up 8% and a robust order book. Management expects medium-term growth from global trade shifts, with 3% of revenue at medium risk from U.S. tariffs. BEV now 36% of annual revenue.
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Q3 FY25 saw record net profit and EV revenue, with BEV sales up 48% year-over-year. Despite temporary headwinds in Europe and North America, the order book remains strong, and management expects lost revenues to recover within two quarters.
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Announced acquisition of RED for INR 16 billion, expanding into railway mobility and diversifying revenue. Q2 FY25 saw record revenue and BEV growth, with strong order book and improved margins. Some delays in EV programs, but majority of order book to ramp up by FY27.
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Q1 FY25 saw record revenue and EBITDA, with BEV revenue up 53% year-over-year and now 33% of total. Order book reached INR 233 billion, 79% from EVs, while ICE revenue fell to 9%. Fundraising of up to INR 2,400 crore approved for tech-focused acquisitions.