Sona BLW Precision Forgings (SONACOMS) Q4 24/25 earnings summary

Executive summary

• FY25 revenue grew 12% year-over-year to ₹35,545 million, with BEV revenue up 38% and now 36% of total revenue.

• Net profit attributable to owners for FY25 was ₹6,012.13 million, up 16% year-over-year, with a PAT margin of 16.9%.

• Q4 FY25 revenue declined 2% year-over-year to ₹8,684 million, while BEV revenue rose 8% and now forms 35% of quarterly revenue.

• Net order book at FY25-end reached ₹242 billion, with 77% from EV programs and 47 billion in new orders from 37 new programs and 7 new customers.

• Management remains optimistic about medium- to long-term opportunities from global trade disruptions and industry consolidation favoring strong technology players.

Financial highlights

• FY25 EBITDA grew 8% year-over-year to ₹9,753 million, with a margin of 27.4%; Q4 FY25 EBITDA was ₹2,350 million, down 5% year-over-year.

• Adjusted PAT for FY25 includes ₹144 million in exceptional expenses related to acquisition opportunities.

• Free cash flow from operations in FY25 was ₹3,597 million; closing cash, FDs, and mutual funds stood at ₹23,695 million.

• Net cash from operating activities for FY25 was ₹7,751.91 million, and net increase in cash and cash equivalents was ₹9,534.49 million.

• Total assets as of March 31, 2025, were ₹65,370.79 million, up from ₹38,649.13 million a year earlier.

Outlook and guidance

• Electrification remains a core strategic priority, with BEV revenue share expected to continue rising and price parity with ICE vehicles anticipated by 2030.

• Management expects medium- to long-term growth from global trade disruptions, with short-term demand and supply chain risks.

• Expansion into humanoid robot components and new product launches, such as the Steering Bevel Box, to drive future growth.

• Railways business to start contributing from June, expected to have lower EBITDA margin than core business.