Sona BLW Precision Q1 Results: Profit Falls 23%; Order Book Reaches Rs 26,200 Crore

Sona BLW Precision Forgings Ltd. posted a 23% decline in the first quarter of this financial year. It has posted a standalone profit of Rs 120 crore in the quarter ended June.

This is in comparison to profit of Rs 154.90 crore in the same quarter of the previous fiscal year, according to its stock exchange notification on Monday.

Revenue decreased by 7.6% year-on-year for the three months ended June, reaching Rs 767 crore. Operating income, or earnings before interest, taxes, depreciation, and amortisation, fell 20% year-on-year to Rs 191.80 crore. The Ebitda margin contracted to 25%.

The Battery Electric Vehicles stood at 28% in the quarter ended June with revenue falling 25% year-on-year to Rs 210.6 crore. The company added that the EV program brings the total number of awarded programs to 60.

The program contributes 75% of the net order book of Rs 26,200 crore as of June. According to its investor presentation, the company has added Rs 2,800 crore to its order book in the first quarter of this fiscal.

The quarterly earnings were shared aftermarket hours. The stock settled 1.25% lower at Rs 443 apiece on the NSE, compared to a 0.64% advance in the benchmark Nifty 50.

Sona BLW's shares have fallen 35.72% in the last 12 months and 25.52% year-to-date.

Out of 19 analysts tracking the company, 12 maintain a 'buy' rating, four recommends a 'hold' and three suggest 'sell', according to Bloomberg data. The average 12-month consensus price target of Rs 541.50 implies an upside of 22.2%.