BEV Revenue Share
39%
+22% YoY
Highest ever BEV revenue share, driven by broad-based EV demand across geographies.
SONABLWPRECISIONFORGINGS
Other
13 May 2026
Sona BLW Precision Forgings Ltd — Q4 FY26
Sona BLW delivered a record Q4 with revenue of ₹1,272 crore (+47% YoY) and EBITDA of ₹311 crore (+32% YoY), driven by strong electrification momentum and market share gains.
✓ Verified against BSE filing
2-Min Summary
✦ AI-Generated from Full Transcript
Sona BLW delivered a record Q4 with revenue of ₹1,272 crore (+47% YoY) and EBITDA of ₹311 crore (+32% YoY), driven by strong electrification momentum and market share gains. BEV revenue share hit a record 39%, and the company won four new driveline orders, including three from European OEMs—the first EV order wins from Europe in four years. The order book stands at ₹237 billion, with EVs accounting for 70%. Management highlighted commodity inflation and wage cost headwinds but expects to maintain EBITDA margins in the 23-25% band. The railway business is expanding with new products (HVAC, electric panels). Key risk: sustained commodity inflation could pressure margins if pass-through lags persist.
Key Numbers
Order Book
₹237B
Flat YoY
Order book maintained despite a large correction in Q2; 70% from EVs, 31 new programs won.
EV Programs
67
+3 programs QoQ
37 in production, 30 yet to launch; 2 new EV customers added in Q4.
Suspension Motor Growth
3-4x YoY
+200-300% YoY
Fastest growing product; expected to reach double-digit revenue share next year.
Management Guidance
EBITDA margin band of 23-25%
Management reiterated the 23-25% EBITDA margin band for the combined business post-railway acquisition, despite commodity headwinds.
Management guidance marginsSuspension motor to reach double-digit revenue share next year
Suspension motor revenue expected to grow 3-4x this year and become a double-digit percentage of total revenue next year.
Management guidance growthRailway business growth driven by operational improvements and new products
Railway growth will come from capacity improvements, filling product white spaces, and new products (HVAC, electric panels) becoming meaningful in 3 years.
Management guidance growthKey Risks
Commodity inflation and margin pressure
Steel, aluminum, copper, freight, and energy costs continue to rise; pass-through lags may compress margins further.
high · management_commentaryMinimum wage hike impact
Haryana government's minimum wage increase effective April 2026 will raise labor costs; mitigation through productivity improvements may take time.
medium · management_commentaryUS tariff and demand risk
Section 25 tariffs remain at 25%; inflationary impact has already reduced US car sales by ~1 million units, affecting all suppliers.
medium · analyst_questionEV demand volatility and subsidy shifts
Recent decline in BYD sales after subsidy removal raises questions about EV demand sustainability; management downplays risk due to geographic diversification.
low · analyst_questionNotable Quotes
Q4 was the best ever quarter across the board. The quarter saw us hitting our highest ever revenue, highest ever packed BE revenue as well as BEV revenue share in the history of the company.
Our anti-fragility thesis has started playing out. We've always believed that we've built a business that tends to emerge stronger from periods of disorder and Q4 is evidence of that thesis.
I don't think it is a material change in the opportunity set that Europe presents for us. I think it'll still be a fairly good place to win a lot of business over the next 12 months or so.
Frequently Asked Questions
What was Sona BLW Precision's revenue in Q4 FY26?
Sona BLW Precision reported revenue of ₹1,258 Cr in Q4 FY26, representing a +47% change compared to the same quarter last year.
What guidance did Sona BLW Precision management give for FY27?
EBITDA margin band of 23-25%: Management reiterated the 23-25% EBITDA margin band for the combined business post-railway acquisition, despite commodity headwinds. Suspension motor to reach double-digit revenue share next year: Suspension motor revenue expected to grow 3-4x this year and become a double-digit percentage of total revenue next year. Railway business growth driven by operational improvements and new products: Railway growth will come from capacity improvements, filling product white spaces, and new products (HVAC, electric panels) becoming meaningful in 3 years.
What are the key risks for Sona BLW Precision in FY27?
Key risks include Commodity inflation and margin pressure — Steel, aluminum, copper, freight, and energy costs continue to rise; pass-through lags may compress margins further.; Minimum wage hike impact — Haryana government's minimum wage increase effective April 2026 will raise labor costs; mitigation through productivity improvements may take time.; US tariff and demand risk — Section 25 tariffs remain at 25%; inflationary impact has already reduced US car sales by ~1 million units, affecting all suppliers.; EV demand volatility and subsidy shifts — Recent decline in BYD sales after subsidy removal raises questions about EV demand sustainability; management downplays risk due to geographic diversification..
Did Sona BLW Precision meet its previous quarter's guidance?
Scorecard data is being built as historical quarters are processed.
Where can I read the full Sona BLW Precision Q4 FY26 concall transcript?
The full earnings conference call transcript or source release is available on the linked source material. This page provides an AI-generated summary verified against official BSE/NSE filings.