Sona BLW Precision Forgings Reports Record Profits Amid Strategic Shifts

Sona BLW Precision Forgings Ltd has achieved a significant milestone, posting an 18.73% increase in net profits for the September quarter, attributed to thriving electric vehicle and railway sectors in India. The company's consolidated net profit soared to Rs 170.47 crore, compared to Rs 143.58 crore in the same period last year.

The venture announced in China with Jinnaite Machinery Co Ltd has been put on hold. Revenue from operations rose to Rs 1,138.29 crore, a marked improvement from Rs 922.19 crore a year ago. This uptick is a result of strategic shifts, including the development of rare-earth-free motors.

Despite the challenges posed by the unavailability of heavy rare-earth magnets, the company adapted by creating alternative motor designs. The reporting quarter also saw successful business development, with important orders secured domestically and internationally.