Sona BLW Precision Forgings Reports Record Q2 FY27 Revenue

Sona BLW Precision Forgings Limited reported record revenue, EBITDA and profit after tax for Q2 FY27, with revenue rising 35% year-on-year to ₹1,546 crore. Battery electric vehicle revenue grew 129% and accounted for 51% of automotive product sales, marking the first time it crossed half of the company’s automotive revenue.

What did Sona Comstar report for Q2 FY27?

Sona Comstar reported its highest quarterly revenue, EBITDA and profit after tax for the quarter ended September 30, 2026. Revenue reached ₹1,546 crore, compared with the previous quarterly record of ₹1,310 crore in the preceding quarter. This represented an 18% sequential increase, according to management’s earnings call presentation.

EBITDA rose 23% year-on-year to ₹356 crore, while profit after tax increased 29% to ₹223 crore. EBITDA margin stood at 23%, lower by 2.3 percentage points from the corresponding quarter a year earlier. PAT margin was 14.4%, lower by about 0.5 percentage points year-on-year.

The Board approved the financial results for the quarter and half year ended September 30, 2026, on October 26, 2026. The company subsequently made the audio and video recording of its earnings call available to investors, providing access to management’s discussion of the results.

Why did Sona Comstar revenue rise in the quarter?

Sona Comstar said the increase in revenue was led by 129% year-on-year growth in battery electric vehicle revenue. The company said demand for electric two-wheelers and three-wheelers in India was the largest contributor to this growth.

BEV revenue represented 51% of automotive product sales during the quarter. The milestone is significant because the company’s automotive revenue mix is now weighted towards battery electric vehicle applications, rather than BEV sales being a smaller supplement to its conventional automotive business.

Management also cited new product activity and order wins as contributors to the quarter’s operating performance. The company commercialised three new products, its highest number in a single quarter, and recorded its third-highest order additions in a quarter. These wins covered almost every major product segment, according to management.

The earnings call was attended by Managing Director and Group Chief Executive Officer Vivek Vikram Singh, along with leaders of the driveline, motor, technology, finance, railway, strategy and investor-relations functions. Management described the quarter as strong across financial performance, product commercialisation, cash generation and quality management.

Why did Sona Comstar margins decline despite higher profit?

Sona Comstar’s EBITDA margin declined to 23% even as EBITDA and PAT increased in absolute terms. Management attributed the margin pressure to inflation and product mix, showing that the faster expansion in sales did not fully translate into a higher percentage margin.

The 2.3 percentage-point year-on-year reduction in EBITDA margin was larger than the roughly 0.5 percentage-point decline in PAT margin. Revenue growth of 35% and PAT growth of 29% meant profits continued to grow strongly, but at a slower rate than revenue on a percentage basis.

Management retained EBITDA margin guidance of 23% to 25%. That range places the reported Q2 margin at the lower end of the stated band. The company did not disclose a revised margin target or provide a quantified outlook for the impact of inflation and product mix in the material provided.

For investors, the result presents two distinct trends: a sharp increase in BEV-led revenue and a lower operating margin. The subsequent trajectory of margins will depend on factors management identified, including the sales mix and inflationary conditions, while the guidance continues to provide the company’s disclosed reference range.

How did the Q2 FY27 result affect Sona Comstar investors?

The results gave investors a set of record financial figures alongside a clear indication of the company’s changing revenue composition. The crossing of the 50% threshold for BEV revenue within automotive sales demonstrates the scale of electric-vehicle-linked demand in the quarter, particularly in India’s electric two-wheeler and three-wheeler categories.

Sona Comstar’s shares were quoted at ₹874.10 on October 29, 2026, down ₹5.35 or 0.61% on the cited delayed-price data. The disclosed price movement was recorded after the October 26 earnings call, although the available material does not attribute the movement to any particular result metric or management commentary.

The company’s decision to publish the earnings call recording also allows market participants to review management’s remarks directly. The filing itself did not add financial or operational details beyond making the recording accessible.

The broader operational message was that new products and order additions coincided with a record quarter. However, the company’s disclosed figures do not provide the value of new orders, individual customer contracts, or a revenue forecast for future quarters.

What does BEV sales growth mean for Sona Comstar?

BEV sales growth means electric-vehicle applications formed a majority of Sona Comstar’s automotive product revenue in Q2 FY27. With BEV revenue up 129% year-on-year and contributing 51% of automotive sales, the quarter reflected the growing importance of electric mobility to the company’s reported automotive business.

The company’s reference to strong electric two-wheeler and three-wheeler demand in India provides context for the revenue performance. These segments are relevant to the domestic EV market, and management identified them as the biggest reason for the rise in BEV revenue during the quarter.

Three product commercialisations in one quarter and broad-based order wins may support the company’s product pipeline, but the material does not specify future revenue from those programmes. Similarly, the company disclosed its margin guidance but did not publish a separate target for BEV revenue share or total revenue.

Conclusion

Sona Comstar delivered record Q2 FY27 revenue of ₹1,546 crore, EBITDA of ₹356 crore and PAT of ₹223 crore. The result was led by 129% growth in BEV revenue, which exceeded half of automotive product sales for the first time, while operating margins remained under pressure from inflation and product mix.

The next points to watch are whether Sona Comstar maintains EBITDA margin within its 23% to 25% guidance range and how its new product commercialisations and order additions translate into operations. Investors can also review the earnings call recording released after the Board approved the September-quarter and half-year results on October 26, 2026.