BQ Prime’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BQ Prime’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
IDBI Capital Report
Sona BLW Precision Forgings Ltd.'s Q2 FY23 financials were above with our estimates. Sales growth was relatively soft primarily on account of decline in its key markets (European and China passenger vehicle market).
During the first half the company bagged the major electric vehicle order for supplying traction motors to Indian electric two-wheeler original equipment manufacturer.
It booked one new EV programs during the quarter. Its order book remain flat on QoQ at Rs 205 billion (9.6 times FY22 sales).
We believe Sona Comstar is likely to be one of fastest growing India based auto ancillary company with 34% profit after tax compound annual growth rate over FY22-24E and having significant exposure to EV segment.
Click on the attachment to read the full report:
DISCLAIMER
This report is authored by an external party. BQ Prime does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BQ Prime.
Users have no license to copy, modify, or distribute the content without permission of the Original Owner.
As a Subscriber you get
Stories
RECOMMENDED FOR YOU
POPULAR