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Motilal Oswal Report
Sona BLW Precision Forgings Ltd.'s Q4 FY22 operating performance was slightly above estimates led by better-than-estimated topline.
Ramp-up in the electric vehicle segment continued strongly, with its contribution to revenue/order book at 29%/ 62% in Q4 FY22, respectively, supported by new order wins.
Near-term challenges on chip shortage, risks from China lockdowns and commodity prices will keep Sona BLW's margins under check despite expected strong revenue traction.
We upgrade our FY23E earnings per share by 5% to account for revenue growth while we retain our FY24E EPS.
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