Sona BLW Precision Forgings Limited reported its strongest quarterly performance in the October–December period, supported by higher electric vehicle related volumes, improved demand across rail and off-highway segments, and a record request-for-quotation pipeline that has strengthened medium-term business visibility.
Revenue for the third quarter of FY26 rose 39 percent year on year to INR 12.09 billion, while earnings before interest, tax, depreciation and amortisation increased 30 percent to INR 3.05 billion. The company crossed INR 12 billion in quarterly revenue and INR 3 billion in quarterly EBITDA for the first time. Adjusted profit after tax grew 20 percent year on year to INR 1.81 billion, excluding a one-time INR 300 million charge linked to newly implemented labour codes.
“This has been our best quarter ever across all financial metrics, and for the first time we have crossed INR 12 billion in quarterly revenue and INR 3 billion in quarterly EBITDA,” said Vivek Vikram Singh, Managing Director and Group Chief Executive Officer.
Electric vehicle-related revenue rose 21 percent sequentially during the quarter, with battery electric vehicle products accounting for 38 percent of automotive revenue, compared with 32 percent in the previous quarter. Management said this performance was achieved despite a sharp sequential decline in North American electric vehicle volumes.
“Amongst all the doom and gloom about EV, EV revenues increased materially this quarter,” Singh said. “This was the second-best quarter ever by both BEV revenue and BEV revenue share, despite North America EV volumes falling sharply.”
The company said restrictions on the supply of heavy rare earth magnets from China continued during the quarter, prompting a shift to alternative motor designs. “We have shifted to alternative motor designs that do not use heavy rare earth magnets and are now supplying motors for electric two-wheelers and three-wheelers using light rare earth magnets,” Singh said.
Order visibility improved during the quarter, with the company describing its request-for-quotation pipeline as the strongest in its history and nearly three times higher than a year earlier. The net order book stood at INR 235 billion at the end of Q3 FY26, with electric vehicle programs accounting for 71 percent of the total.
“Our current RFQ pipeline is the strongest in the history of the company,” Singh said. “The pace of new inquiries is the highest we have seen since COVID.”
Diversification continued to reshape the revenue mix. India accounted for 55 percent of revenue during the quarter, while eastern markets contributed 58 percent, up from 33 percent a year earlier. Non-automotive revenue, primarily from railways and off-highway applications, increased to 31 percent of total revenue in the first nine months of FY26 from 9 percent in FY25.
“North America, which was our largest market in FY25, has nearly halved for us, while India has doubled in our revenue mix, and we have achieved this without sacrificing growth or margins,” Singh said.
The company also confirmed it received its first year of Production Linked Incentive benefits in January, completing the initial cycle of income recognition and cash conversion. Management said the recurring cost impact of the new labour codes is expected to be about INR 40 million annually.
Sona BLW Precision Forgings Limited supplies driveline systems, electric motors, and mobility technologies to automotive and non-automotive customers across India, Europe, North America, and Asia.
