Sona BLW Precision Forgings opens second plant in Haryana’s Manesar

Auto component maker Sona BLW Precision Forgings Ltd (Sona Comstar) on Monday (October 21) announced the inauguration and commencement of production at its new plant in Manesar, Haryana. Located at the Industrial Estate, IMT Manesar, this is the company’s second plant dedicated to its driveline business in the region.

“…we are glad to inform you that the Company has inaugurated its new plant in Manesar (Haryana), having an address at Near Sector 2A, Industrial Estate, IMT Manesar, Gurugram, Haryana, 122050 on 21st October 2024,” the company said in a stock exchange filing.

The new facility will aim to meet the growing demand for Sona BLW’s driveline products. Production at the plant commenced on the same day, further bolstering the company’s manufacturing capacity.

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“This is our second plant for the driveline business in IMT Manesar (Haryana). The production at the new plant commenced today. This plant will assist in catering to the growing demand for the driveline products of the company,” Sona BLW Precision Forgings said.

Sona BLW Precision Forgings reported a 26.7% year-on-year (YoY) increase in net profit at ₹141.9 crore for the first quarter that ended June 30, 2024. In the corresponding quarter, the company posted a net profit of ₹112 crore, the company said in a regulatory filing.

The company’s revenue from operations rose 21.8% to ₹891.2 crore against ₹731.4 crore in the year-ago period. At the operating level, EBITDA increased 23.1% to ₹249.3 crore in the first quarter of this fiscal over ₹202.5 crore in the first quarter of the previous fiscal.

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The EBITDA margin stood at 28% in the reporting quarter against 27.7% in the corresponding period in the previous fiscal. EBITDA is earnings before interest, tax, depreciation, and amortisation.

Shares of Sona BLW Precision Forgings Ltd ended at ₹634.15, down by ₹3.35, or 0.53%, on the BSE.