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.

Comments (0)

ADD COMMENT

Link Copied!

Lusso Designs India, a vehicle customisation company and part of Arpanna Group of Companies, has opened its first flagship experience centre in Mumbai.

The facility will function as a showroom and design atelier, displaying vehicles and components such as alloy wheels and upholstery. Lusso Designs is collaborating with designer Dhanesh Chheda of Just Men for this venture.

The company operates production hubs in Pune and Dubai and caters to brands such as Rolls-Royce, Bentley, Lamborghini, Aston Martin, Porsche, Range Rover, Mercedes-Benz, BMW, Audi, Tata Motors, Mahindra & Mahindra, Kia India and Hyundai Motor India.

Pratik Malkan, Chairman, Arpanna Group of Companies, said, "For over five decades, our Group has been built on the belief that enduring businesses are created by combining craftsmanship, innovation and an uncompromising commitment to quality. Lusso Designs represents the natural evolution of that philosophy into the luxury mobility space. India today is witnessing a new generation of discerning consumers who seek experiences that are deeply personal and globally benchmarked. With Lusso, we are not simply introducing another automotive customisation brand—we are creating an ecosystem where design, engineering and craftsmanship come together to redefine luxury ownership for the Indian market and beyond."

Vihaan Malkan, Director, Lusso Designs, said, "The inauguration of our flagship experience centre in Mumbai marks the beginning of a new chapter for the luxury automotive ecosystem in India. Over the past five decades, our group's legacy has been anchored on absolute discretion, precision engineering, and uncompromising quality. Through this experience centre, we are seamlessly fusing international luxury benchmarks with local design sensibilities. We are empowering discerning Indian vehicle owners to realise their ultimate vision of ultra-luxury, personalised comfort, and sustainable design, transforming their vehicles into a true extension of their individual identity."

The new facility is designed for vehicle customisation, offering services ranging from interior overhauls to the integration of materials.

Comments (0)

ADD COMMENT

Link Copied!

Tropicool Autotronics has unveiled its 360deg Around View Monitoring (AVM) System for commercial vehicles at the Prawaas 5.0 exhibition in India. The system is designed to improve driver visibility and eliminate blind spots.

It provides a bird's-eye view using four HD cameras, offering dynamic guidelines for parking and reversing. The system features automatic camera switching based on vehicle movement and multi-channel recording. The architecture is built to support future safety applications and is designed for buses, trucks and commercial vehicles.

Khushboo Shinagare, CEO, Tropicool Autotronics, said, "Commercial vehicle safety is evolving rapidly, and visibility is one of the biggest challenges drivers face every day. Our 360deg AVM System empowers drivers with complete situational awareness, reducing blind spots and improving passenger and pedestrian safety. We are delighted to introduce this solution at Prawaas 5.0 and support India's vision for safer, smarter mobility."

This launch expands the company’s portfolio, which includes vehicle electronics, parking assistance and passenger systems.

Comments (0)

ADD COMMENT

Link Copied!

Maruti Suzuki India, the country’s largest passenger vehicle manufacturer, has attained a new milestone of having a total of 6,000 service touchpoints across India with the opening of a new facility in Kozhikode, Kerala. The company’s service network now operates in over 3,000 cities and towns.

The new workshop in Kozhikode covers 1,820 square metres and includes service bays, body repair bays and electric vehicle charging and service capabilities.

Hisashi Takeuchi, Managing Director & CEO of Maruti Suzuki India, said, “In automobile business, along with the product, the convenience of quality service support is essential to enhancing a customer’s vehicle ownership experience. As our customer base continues to grow, we are equally focused on expanding our service network to provide greater convenience and peace of mind to customers. The inauguration of our 6,000th service touchpoint reflects this commitment. I would like to thank our dealer partners and service team, as together we have accelerated workshop activation and added our most recent 1,000 touchpoints in just around two years. Going forward, we will continue to strengthen our service footprint, and in FY 2026-27, we plan to add about 500* service touchpoints across the country.”

The company’s service network includes workshops, sales and service points, rural workshops and mobile service units. Maruti Suzuki also provides digital tools for customers, such as the Maruti Suzuki App, an AI-powered virtual assistant called S-Assist and vehicle health assessment documents.

In the 2025-26 financial year, Maruti Suzuki opened 502 service touchpoints and recorded 28.4 million vehicle services.

Comments (0)

ADD COMMENT

Link Copied!

Tesla has inaugurated a destination charging station at Nexus Select Citywalk in New Delhi. The site features six 11 kW AC destination chargers located in the P1 parking area. This addition brings Tesla's total in India to 6 charging stations, comprising 20 superchargers and 20 destination chargers.

Alongside the charging site, Tesla has opened a pop-up store at the mall, which operates from 6 July to 10 July between 11 AM and 9 PM. Visitors can view the Model Y L and the 2026 Model Y Premium Rear-Wheel Drive.

The Model Y L is a six-seat SUV with a cargo capacity of 2,539 litres and a range of 681 km. Pricing for the Model Y L begins at INR 6.19 million, with monthly EMIs from INR 49,990 and a down payment of INR 650,000.

The 2026 Model Y Premium Rear-Wheel Drive seats five passengers, offers 2,138 litres of cargo space, and provides a range of 500 km. It is priced at INR 5.08 million, with EMIs starting at INR 39,990 and a down payment of INR 650,000.

Comments (0)

ADD COMMENT

Link Copied!