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Anand Rathi Report
Sansera Engineering Ltd.'s Q1 FY23 revenue grew 36% YoY, but QoQ declined 8%, to Rs 5.3 billion, primarily on weak export sentiment.
Segmentally, auto internal combustion engine declined 11% QoQ to Rs 4.2 billion, tech-agnostic and xEV grew 39% QoQ to Rs 478 million and non-auto declined 8% QoQ to Rs 584 million.
In passenger vehicles, it recently added Tata Motors Ltd. and Force Motors Ltd., and supplies of connecting rods are expected to commence soon for electric two-wheelers it added original equipment manufacturers such as Ather and Ultraviolet and SOPs are expected in Q2 FY23.
The share of tech-agnostic and xEV rose to 9% (from 6% the last quarter). For the USA, Sansera plans to set up a plant in the near term to cater to demand from other active customers despite the recent order cancelation.
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