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HDFC Securities Institutional Equities
Sona BLW Precision Forgings Ltd. has bagged HDFC Securities 'Add' initiation from HDFC Securities with a target price of Rs 845, citing the company's growing presence in electric vehicles, expanding product portfolio and strong technology capabilities.
The brokerage believes Sona BLW is making "bold moves into the future of mobility" and is well-positioned to benefit from long-term industry trends.
According tothe brokerage, Sona BLW is an R&D and engineering-focused auto ancillary company that leverages product differentiation and technological expertise to win new customers and deepen relationships with existing ones. HDFC Securities noted that the company's focus on high-growth mobility segments has enabled it to maintain industry-leading Ebitda margins of 23-25% while benefiting from operating leverage.
The brokerage's investment thesis is largely centered around the electrification theme. EV-related products account for 64% of Sona BLW's net order book, compared with 26% of FY26 revenue, highlighting significant growth potential as electric vehicle adoption accelerates in India and global markets. The company has a strong presence in traction motors, differential gears and differential assemblies used in EV platforms.
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