On October 21, Sona BLW Precision Forgings Ltd. (Sona Comstar) announced the opening of its second plant in Manesar, Haryana, dedicated to its driveline business. Situated in the Industrial Estate, IMT Manesar, the facility is strategically located to enhance the company’s manufacturing capacity and meet the increasing demand for driveline products. Production at the new plant began on the same day.
“We are pleased to announce the opening of our new plant in Manesar, Haryana, located near Sector 2A in the Industrial Estate, IMT Manesar, Gurugram, Haryana, 122050, on October 21, 2024,” the company stated in a stock exchange filing.
This new facility is designed to address the increasing demand for Sona BLW’s driveline products, with production starting on the same day to enhance the company’s manufacturing capacity. “This is our second plant dedicated to the driveline business in IMT Manesar, Haryana. The commencement of production today will help us meet the growing demand for our driveline products,” Sona BLW Precision Forgings added.
The company reported a 26.7% year-on-year increase in net profit, reaching ₹141.9 crore for the first quarter ending June 30, 2024, compared to ₹112 crore in the same quarter last year. Additionally, revenue from operations grew by 21.8%, amounting to ₹891.2 crore, up from ₹731.4 crore in the previous year.
At the operating level, EBITDA rose by 23.1% to ₹249.3 crore for the first quarter of this fiscal year, compared to ₹202.5 crore in the same quarter last year. The EBITDA margin improved to 28% from 27.7% in the prior year.
Sona BLW Precision Forgings is a leading global manufacturer of automotive components, specializing in highly engineered, mission-critical precision forged and machined products. Headquartered in India, the company supplies to a wide range of automotive sectors, including passenger vehicles, commercial vehicles, electric vehicles, and off-highway vehicles.
Sona BLW is renowned for its expertise in producing differential assemblies, gears, axles, and e-mobility solutions, making it a crucial supplier in the global shift toward electrification. With a strong focus on innovation, sustainability, and advanced manufacturing technologies, Sona BLW continues to play a pivotal role in the global automotive supply chain, serving major OEMs and tier-1 suppliers worldwide.
