Staff Writer
New Delhi: Sona BLW Precision Forgings Ltd., better known as Sona Comstar, delivered a strong set of numbers for the third quarter of FY26, reporting healthy growth in revenue and operating profit despite pressure on margins from an adverse product mix.
For the quarter ended December 31, 2025, the auto components major recorded consolidated revenue of ₹12,085 million, marking a sharp 39% increase from ₹8,680 million in the same period last year. The growth was driven by sustained demand across key automotive segments and steady momentum in electrification-led products.
Earnings before interest, tax, depreciation and amortisation (EBITDA) rose 30% year-on-year to ₹3,046 million. However, EBITDA margin moderated to 25.2%, down by about 180 basis points compared to Q3 FY25, reflecting a change in product mix during the quarter.
Profit after tax stood at ₹1,508 million, impacted by a one-time charge of ₹301 million related to the implementation of the new labour code. Adjusting for this exceptional item, PAT rose 20% year-on-year to ₹1,809 million, with an adjusted margin of 14.9%.
Battery electric vehicle (BEV) revenue during the quarter came in at ₹3,202 million, down 3% year-on-year, and accounted for 38% of automotive product revenue. The company attributed the dip largely to customer production schedules and mix-related factors, even as its overall EV pipeline continued to expand.
For the nine months ended December 31, 2025, Sona Comstar posted consolidated revenue of ₹32,029 million, up 19% year-on-year. EBITDA for the period rose 8% to ₹7,962 million, while EBITDA margin declined to 24.9%, around 270 basis points lower than the previous year, again due to adverse product mix.
Adjusted PAT for the nine-month period increased 9% year-on-year to ₹4,784 million, excluding the labour code-related impact. The adjusted PAT margin stood at 14.8%.
BEV revenue for the nine months declined 14% year-on-year to ₹7,954 million, contributing 33% of automotive product revenue during the period.
The company’s order book remained robust at ₹235 billion at the end of Q3 FY26, equivalent to 6.8 times its FY25 revenue. EV-related programs formed the bulk of this pipeline, accounting for ₹166 billion, or 71% of the total order book, underscoring Sona Comstar’s long-term bet on electrification.
Non-EV automotive programs contributed ₹56 billion, while the railway business added ₹13 billion to the order book.
During the quarter, Sona Comstar secured two additional EV programs, taking the total to 64 EV programs across 33 customers, compared with 62 programs across 32 customers in the previous quarter. These programs span passenger vehicles, commercial vehicles, two- and three-wheelers, as well as emerging non-automotive applications.
In Q3 FY26, the company continued to deepen its technology portfolio across electrification, sensing and software-led mobility solutions. New product commercialisations during the quarter included a hydraulic motor controller, while development work progressed on integrated motor controllers, eVTOL gearboxes, autonomous mobile robot drive units and radar-based sensing technologies.
