Sona BLW Precision Forgings Announces Q3 FY23 Results

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Sona BLW Precision Forgings Ltd (Sona Comstar) announced its financial results for the quarter and nine-months ended 31 December, 2022.

Key financial highlights – Q3 FY23 – 
· Revenue of INR 6.85 billion with 39 percent YoY growth. 
· 26 percent revenue share from Battery Electric Vehicles (BEV), BEV revenue growth of 29 percent YoY. 
· EBITDA of INR 1.86 billion with a margin of 27.2 percent and 43 percent YoY growth.
· PAT of INR 1.07 billion with a net profit margin of 15.6 percent and 45 percent YoY growth.
· The net order book increased to INR 238 billion from INR 205 billion as of 30 September, 2022.

Key financial highlights – 9M FY23 –
· Revenue of INR 19.32 billion with 22 percent YoY growth.
· 25 percent revenue share from Battery Electric Vehicles (BEV), BEV revenue growth of 31 percent YoY. 
· EBITDA of INR 4.94 billion with an EBITDA margin of 25.6 percent and 17 percent YoY growth. 
· PAT of INR 2.76 billion with a net profit margin of 14.3 percent and 18 percent YoY growth.
· The net order book increased to INR 238 billion from INR 186 billion as of 31 March, 2022.

Commenting on the performance, Vivek Vikram Singh, Managing Director and Group CEO, Sona Comstar, said, “We delivered our highest quarterly revenue, EBITDA and net profit in Q3 FY23. Our revenue grew 39 percent YoY in the last quarter, driven by the scale-up of revenue from new programs. Our BEV revenue was higher by 29 percent YOY, representing 26 percent of overall revenues. Despite the continued high steel prices, the EBITDA margin improved by 80 bps YoY to 27.2 percent, driving EBITDA growth of 43 percent and PAT growth of 45 percent. We continue to progress on all our key strategic priorities. We won the largest single new order in our history, an EV driveline program which is a big step forward for us in both business development and technology, as this is a new product called an Electronic Differential Lock (EDL). This win demonstrates our ability to keep adding new and higher value-added products for our customers. We also made our first acquisition since 2019, and with NOVELIC, we have added a third pillar of sensors and software to our business.”

Operational highlights – Q3 FY23 and 9M FY23

Key developments
· A global EV OEM has awarded the company a new program to supply EDL for their upcoming BEV model. This program has added INR 33.5 billion to the order book and is the single largest new order win in the company's history. The program's start of production is in H2 FY24.

· The company has been awarded a new program for a US-European OEM of PVs and EVs to supply differential assemblies for their upcoming BEV model. This program has added INR 3.6 billion to the order book. The program's start of production is in H2 FY24.

Electrification 
· BEV revenue share: Revenue from battery EV grew 31 percent YoY INR 4.67 billion in 9M FY23 and contributed 25 percent of total revenue against 23 percent in 9M FY22. 

· EV programs: Eleven new EV programs and six new customers were added in 9M FY23. The number of awarded programs increased to 41 across 25 different customers.

Maruti Suzuki India Inaugurates 5,000th Arena Service Point

Maruti Suzuki Arena

Maruti Suzuki India, the country’s largest passenger vehicle manufacturer, has attained another milestone of inaugurating its 5,000th Arena Service touchpoint.

The landmark facility, located in Coimbatore, is spread across 3,200 sqmt. It features four service bays and four bays dedicated to body repair, equipped with advanced tools to offer complete service solutions.

The new service point contributes to Maruti Suzuki's overall network, which now comprises over 5,640 service touchpoints across 2,818 cities. This extensive network includes Arena and Nexa workshops, as well as specialised formats such as Rural workshops and Service-on-Wheels. In Tamil Nadu alone, the brand now has over 400 authorised service touchpoints.

Hisashi Takeuchi, Managing Director & CEO, Maruti Suzuki India, said, “At Maruti Suzuki, we believe that easy access to trusted service is fundamental to a hassle-free ownership experience. Customers value proximity, affordability, genuine parts and above all, the speed at which we resolve issues. Our expanding service network ensures faster, more reliable care, wherever they are. It is our consistent endeavour to be by the side of our customers and we extend our heartfelt gratitude to all our dealer partners for their continued support in building this robust and expansive service network. We plan to continuously expand our network in future as well. In FY2024-25, we opened 460 service touchpoints under Arena and Nexa channels, and in FY2025-26, we plan to add a total of 500 service workshops to our network.”

Maruti Suzuki has demonstrated robust service capacity, having serviced over 27 million vehicles in the FY2024-25 – the highest number ever recorded by the company in a single financial year. The overall service network is capable of servicing more than 30 million customer vehicles annually.

Shell Launches New Range Of Lubricants For Automotive Aftermarket

Shell Lubricants

Shell Lubricants India has launched three new lubricant products, developed using technology, to serve customer needs across passenger cars, two-wheelers and pickup trucks. The new products reinforce Shell’s commitment to technical excellence.

The new products include:

  • Shell Spirax S4 GX 75W90: This product is the only Shell Branded product globally in this viscosity and is India’s first Shell Branded synthetic gear oil under the Spirax category. It is designed for manual transmissions in passenger cars and LCVs. The company claims that it provides gearbox protection, smoother gear shifts and cost savings. It is approved under API GL-4 and ZF-TE-ML-08 standards and is compatible with OEMs including Suzuki, Hyundai and Tata Motors. It comes in 1L (INR 540) and 2.5L (INR 1300) packaging.
  • Shell Advance AX6 5W30: Targeted at the growing BS VI scooter market, this oil provides 360-degree protection for daily commuters. Formulated with synthetic technology, it offers performance under urban conditions, including traffic and frequent stop-start riding. The 600 ml bottle is made from 100 percent post-consumer recycled (PCR) material, is priced at INR 355 and is available nationwide.
  • Shell Rimula Pick-Up: This is an engine oil crafted and tested specifically for pickup trucks navigating city traffic, offering performance and extended drain intervals. The range is available for both BS IV and BS VI engines in 5L and 7L packaging, launched nationwide.

Shell Lubricants recently launched the new Shell Helix Ultra, engineered to deliver performance and protection. It uses Shell’s PurePlus Technology – which converts natural gas into 99.5 percent pure base oil – to offer up to 1.8 percent more engine power, 3.4 percent improved responsiveness and 100 percent engine power retention.

Kia India Hits 100th Green Workshop Milestone

Kia Green Workshop

Kia India, one of the leading passenger vehicle manufacturers in the country, has inaugurated its 100th Green Workshop, signalling a major commitment to sustainable aftersales service. The milestone facility, located at Bright Kia in Kanpur, follows the first Green Workshop launched in Rohtak in 2023.

The company's Green Workshop initiative is a key part of its environmental efforts and aims to expand the network to over 150 workshops by 2026.

Kia's Green Workshops are fitted with advanced sustainability measures, including rainwater harvesting, natural lighting and motion-sensor systems for greater energy efficiency. They also utilise effluent treatment plants, steam wash systems to cut water usage and waterless urinals.

Crucially, the 100 workshops collectively generate 7.9 MW of solar power. This renewable energy capacity allows Kia India to prevent nearly 9,000 metric tons of CO2 emissions each year, which the company states is equivalent to the absorption power of 450,000 mature trees. Kia has also implemented a comprehensive recycling programme for automotive waste such as used batteries and oil.

Atul Sood, Senior Vice-President, Sales & Marketing, Kia India, said, “Achieving the milestone of 100 Green Workshops within a short span of two years underscores Kia India’s commitment to building a sustainable mobility ecosystem. Each workshop brings us closer to a world where progress doesn’t come at the planet’s cost. This initiative, alongside our portfolio of three EVs, is a significant reflection of our continued efforts to reduce environmental impact, enhance operational efficiency, and shape a cleaner, smarter mobility for our future generations.”

CarXpert To Expand Into Western India, Starting With Gujarat

CarXpert

Delhi-NCR-based CarXpert, a multi-brand car service network, is set to expand its footprint into the western Indian market, with a primary focus on Gujarat. The move aims to upgrade local, independent garages into professional service centres by providing them with modern tools, training and brand recognition.

The company's business model is designed to help local mechanics professionalise their operations. CarXpert provides standardised processes, diagnostic technology and skill development programs, allowing garages to offer more reliable service and build long-term customer trust.

Rachit Dhawan, Head of Department at CarXpert, said, “We are happy to announce our expansion plans to other parts of India. Gujarat is one of the growing markets for job creation. Many of these workshops operate without modern tools, standardised systems, or access to training. We are working to change this by giving these workshops an opportunity to become part of an organised, trusted network.”

With over 50 centres already operational in locations across northern India, the company's expansion into Gujarat will cater to the state's growing number of vehicle owners.