In Thursday’s trading session, the shares of one of the world’s leading automotive technology companies surged by 4.3 percent on BSE to hit an intraday high at Rs. 716.6, after reporting financial results for Q1 FY24-25 with a rise in the net profit by 26.5 percent YoY.
With a market cap of Rs. 40,932 crore, the shares of Sona BLW Precision Forgings Limited closed in the green at Rs. 697.95, up by 1.6 percent, as against its previous closing price of Rs. 687.1.
What’s the News:
The fluctuations in the share prices were observed after the company announced the financial results for Q1 FY24-25, through the recent filings with the stock exchanges on Wednesday post-market hours.
The consolidated revenue from operations for Q1 FY24-25 stood at Rs. 891.2 crores, marking a 0.8 percent QoQ rise from Rs. 884.2 crore in Q4 FY23-24, as well as a 22 percent rise year-on-year from Rs. 731.4 crores in Q1 FY23-24.
The net profit jumped by 26.5 percent YoY to Rs. 141.7 crore in Q1 FY24-25 as against Rs. 112 crores in Q1 FY23-24, but on a quarter-on-quarter basis, it fell by 4.3 percent from Rs. 148 crores in Q4 FY23-24.
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During Q1 FY24-25, the Battery Electric Vehicles (BEV) revenue grew by 53 percent YoY to Rs. 283 crores, contributing 33 percent to total revenue.
In Q1 FY24-25, the net order book of Sona BLW Precision Forgings surged to Rs. 23,300 crores from Rs. 22,600 crores recorded in Q4 FY23-24, representing a remarkable 7.3 times increase over the FY23-24 revenue.
Shareholding Pattern:
As per the shareholding pattern of June 2024, the Promoters hold a 29.71 percent stake in the company, Foreign Institutional Investors (FII) hold a 32.93 percent stake, while Retail Investors and Domestic Institutional Investors (DII) hold an 8.59 percent and 28.77 percent stake in United Spirits, respectively.
Stock performance:
The stock has delivered positive returns of nearly 17.3 percent in one year as well as around 19.3 percent returns in the last six months. So far in 2024, the shares of Sona BLW Precision Forgings have given about 8.2 percent of positive returns.
About the company:
Founded in 1995, Sona BLW Precision Forgings Limited (Sona Comstar) is engaged in the business of manufacturing of precision forged bevel gears and differential case assemblies, conventional and micro-hybrid starter motors, EV traction motors etc., for automotive and other applications.
It is a global supplier with manufacturing and assembly facilities, R&D centres and engineering capability centres across India, USA, Serbia, Mexico, and China.
Written by Shivani Singh
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