Sona Comstar Reports 17 Percent YoY Revenue Growth in 9M FY25
Revenue from Battery Electric Vehicles (BEV) saw a significant rise of 48 percent year-over-year, now contributing 39 percent of the company’s total revenue.
January 24, 2025. By Aishwarya
The company reported revenue of INR 868 crores in Q3 FY25, reflecting a 12 percent year-over-year (YoY) growth. Revenue from Battery Electric Vehicles (BEV) saw a significant rise of 48 percent year-over-year, now contributing 39 percent of the company’s total revenue.
EBITDA for the quarter stood at INR 234 crores, with a 27.0 percent margin and 3 percent year-over-year growth, while Profit After Tax (PAT) increased 14 percent YoY to INR 151 crores, achieving a net profit margin of 17.4 percent.
For the nine-month period of FY25, revenue grew 17 percent YoY to INR 2,686 crores, with BEV revenue accounting for 36 percent of the total. EBITDA reached INR 740 crores, maintaining a 27.6 percent margin and reflecting a 13 percent YoY increase. PAT for the period stood at INR 437 crores, marking a 19 percent growth, with a net profit margin of 16.2 percent. The company’s EV programs now contribute 76 percent to its net order book, which stands at INR 23,200 crores as of December 31, 2024.
Sona Comstar’s MD and Group CEO, Vivek Vikram Singh, stated that the company achieved its highest-ever quarterly net profit, BEV revenue, and BEV revenue share in Q3 FY25. He highlighted the company’s continued progress in key strategic areas, with BEV revenue growing 48 percent YoY.
The company secured a new program to supply differential assemblies for an existing customer’s innovative EV models in India. Additionally, it received its second product order in the sensors and software vertical and successfully commercialized a new product, Zone Monitoring Sensors. Singh also announced a major technological breakthrough in developing a 180-degree field of view using short-range radar sensors, further strengthening the company’s global market presence in differential gears and starter motors.
In Q3 FY25, revenue from Battery EVs grew 48 percent YoY to INR 329 crores, contributing 39 percent of total revenue. The company added one new EV program during the quarter, bringing the total number of awarded EV programs to 57 across 32 customers. Sona Comstar’s board of directors has also approved an investment of USD 4.0 million in ClearMotion Inc., a software-defined chassis company.
ClearMotion specializes in proactive suspension and road sensing software, mitigating vehicle motion across uneven road surfaces. The company was founded out of MIT and operates in Boston, USA, Birmingham, UK, and Shanghai, China.
The company also received a new order from an existing customer, an Indian OEM of passenger vehicles, commercial vehicles, off-highway vehicles, and electric vehicles, to supply differential assemblies for their new electric passenger vehicles.
This program has added INR 300 crores to the company’s order book, with production expected to commence in Q2 FY27. As per Crisil estimates, Sona Comstar’s global market share in differential gears increased from 8.1 percent to 8.8 percent in 2024, while its global market share in starter motors grew from 4.2 percent to 4.4 percent.
Sona Comstar’s subsidiary, NOVELIC, a leader in short-range radar technology, showcased an entirely new approach for affordable 180-degree field-of-view radar modules at CES 2025 in January. NOVELIC’s latest radar development, ASPER200, is a 79 GHz short-range exterior radar module designed for passenger vehicles, commercial vehicles, motorcycles, transportation, and construction vehicles. The latest generation of radar modules can cover a field of view of 180 degrees using a single radar chip, allowing a single module to cover an entire side of the vehicle.
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