Sona BLW Precision

₹571.1 -19.4 | 3.3%

WEBSITE BSE:543300 NSE : SONACOMS 13 May, 13:58

Market Cap ₹33493 Cr.

Stock P/E 64.7

P/B 12.6

Current Price ₹571.1

Book Value ₹ 45.2

Face Value 10

52W High ₹718.6

Dividend Yield 0.27%

52W Low ₹ 489

Edit Ratio

Sona BLW Precision Research see more...

Equity Research Report - SONA BLW PRECISION FORGINGS LTD

Overview Inc. Year: 1995Industry: Auto Ancillary

Sona BLW Precision Forgings Ltd manufactures and sells systems and components for the automotive enterprise in India and the world over. The corporation offers traction automobiles, controllers, distinctive bevel gears, specific assemblies, controllers, pressure cars, hub wheel vehicles, drive cars, axles, starter motors, belt starter generators, alternators, reverse idlers, portal axle gears, couplings/sleeves, gear container gears, traditional and micro-hybrid starter, BSG systems, EV traction cars, and motor control devices. Its products are utilized in passenger and commercial cars, off-highway vehicles, electric powered motors, electric mild business cars, and electric powered two and three wheelers. The company was previously known as Sona Okegawa Precision Forgings Ltd. and changed its name to Sona BLW Precision Forgings Ltd in 2013. The enterprise incorporated in 1995 and is based in Gurugram, India.

Sona BLW Precision Share Price

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Peer Comparison

Sona BLW Precision Quarterly Results

#(Fig in Cr.)	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
Net Sales	486	550	584	653	675	743	731	787	782	884
Other Income	13	14	6	7	13	6	6	9	5	9
Total Income	499	564	590	660	688	748	738	797	787	893
Total Expenditure	364	415	447	492	499	543	529	567	555	637
Operating Profit	136	150	144	169	189	206	209	229	232	256
Interest	3	3	3	4	5	5	5	6	7	7
Depreciation	36	37	40	43	47	48	51	53	56	60
Exceptional Income / Expenses	0	0	0	0	0	-3	-3	-6	0	0
Profit Before Tax	97	109	101	121	137	150	150	164	169	189
Provision for Tax	10	4	25	29	30	30	37	40	35	41
Profit After Tax	86	105	76	93	107	120	112	124	134	148
Adjustments	0	0	0	0	0	0	0	-0	-1	1
Profit After Adjustments	86	105	76	93	107	120	112	124	133	149
Adjusted Earnings Per Share	1.5	1.8	1.3	1.6	1.8	2	1.9	2.1	2.3	2.5

Sona BLW Precision Profit & Loss

#(Fig in Cr.)	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	TTM
Net Sales	623	699	1038	1566	2131	2676	3184
Other Income	3	3	6	2	20	12	29
Total Income	626	703	1044	1569	2151	2687	3215
Total Expenditure	454	499	796	1125	1572	1980	2288
Operating Profit	172	203	248	443	579	707	926
Interest	18	18	26	33	18	17	25
Depreciation	22	31	67	97	142	178	220
Exceptional Income / Expenses	0	0	232	-14	13	-3	-9
Profit Before Tax	132	155	387	300	432	509	672
Provision for Tax	45	55	27	85	71	114	153
Profit After Tax	87	100	360	215	362	395	518
Adjustments	-10	73	0	0	0	0	0
Profit After Adjustments	76	173	360	215	362	395	518
Adjusted Earnings Per Share	2.3	5.2	6.4	3.8	6.2	6.8	8.8

Growth Rates

#	1 Year	3 Year	5 Year	10 Year
Sales CAGR	26%	37%	34%	0%
Operating Profit CAGR	22%	42%	33%	0%
PAT CAGR	9%	3%	35%	0%

#	1 Year	3 Year	5 Year	10 Year
Share Price CAGR	4%	NA%	NA%	NA%
ROE Average	18%	19%	45%	38%
ROCE Average	23%	22%	31%	31%

Sona BLW Precision Balance Sheet

#(Fig in Cr.)	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Shareholder's Funds	-2	174	1178	1376	2000	2290
Minority's Interest	3	2	0	0	0	0
Borrowings	415	73	177	191	44	49
Other Non-Current Liabilities	374	29	168	175	168	171
Total Current Liabilities	577	1354	328	456	457	651
Total Liabilities	1366	1633	1851	2198	2669	3161
Fixed Assets	694	291	1065	1217	1384	1588
Other Non-Current Assets	32	29	154	160	236	172
Total Current Assets	640	341	632	821	1049	1401
Total Assets	1366	1633	1851	2198	2669	3161

Sona BLW Precision Cash Flow

#(Fig in Cr.)	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Opening Cash & Cash Equivalents	28	26	39	105	25	54
Cash Flow from Operating Activities	123	155	253	143	445	533
Cash Flow from Investing Activities	-138	204	-954	-156	-353	-563
Cash Flow from Financing Activities	9	-346	767	-67	-64	19
Net Cash Inflow / Outflow	-6	13	66	-80	27	-11
Closing Cash & Cash Equivalent	26	39	105	25	54	44

Sona BLW Precision Ratios

#	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Earnings Per Share (Rs)	2.3	5.2	6.37	3.76	6.19	6.75
CEPS(Rs)	3.28	3.94	7.55	5.45	8.62	9.79
DPS(Rs)	0	42.4	9.63	18.93	1.54	2.81
Book NAV/Share(Rs)	-0.07	5.22	20.81	23.93	34.12	39.04
Core EBITDA Margin(%)	27.16	28.6	23.34	28.16	26.24	26.01
EBIT Margin(%)	24.03	24.67	39.79	21.23	21.14	19.66
Pre Tax Margin(%)	21.15	22.13	37.29	19.15	20.28	19.03
PAT Margin (%)	13.93	14.32	34.72	13.74	16.97	14.77
Cash Profit Margin (%)	17.51	18.75	41.18	19.93	23.63	21.43
ROA(%)	6.35	6.68	20.69	10.63	14.86	13.56
ROE(%)	0	116.81	53.34	16.88	21.49	18.47
ROCE(%)	28.97	41.28	45.83	20.63	23.64	22.98
Receivable days	164.59	113.04	67.82	75.81	73.85	71.9
Inventory Days	166.3	91.79	46.42	58.47	57.3	46.81
Payable days	674.07	355.12	75.95	96.25	85.52	70
PER(x)	0	0	0	0	109.77	61.18
Price/Book(x)	0	0	0	0	19.9	10.58
Dividend Yield(%)	0	0	0	0	0.23	0.68
EV/Net Sales(x)	0.84	0.21	0.18	0.58	18.62	9.09
EV/Core EBITDA(x)	3.03	0.73	0.75	2.05	68.52	34.4
Net Sales Growth(%)	0	12.21	48.45	50.9	36.03	25.58
EBIT Growth(%)	0	15.24	139.38	-19.49	35.46	16.78
PAT Growth(%)	0	15.36	259.93	-40.29	68.03	9.34
EPS Growth(%)	0	126.27	22.46	-41.03	64.76	9.14
Debt/Equity(x)	-219.17	0.84	0.26	0.27	0.04	0.1
Current Ratio(x)	1.11	0.25	1.93	1.8	2.29	2.15
Quick Ratio(x)	0.62	0.2	1.33	1.13	1.5	1.66
Interest Cover(x)	8.35	9.71	15.9	10.23	24.67	31.08
Total Debt/Mcap(x)	0	0	0	0	0	0.01

Sona BLW Precision Shareholding Pattern

#	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
Promoter	67.18	67.18	67.18	53.59	53.53	33	29.76	29.76	29.71	29.71
FII	9.77	8.79	8.8	11.56	11.27	24.69	31.68	33.35	32.87	32.93
DII	15.97	16.42	16.12	24.53	24.37	31.28	28.2	27.5	27.91	28.77
Public	7.08	7.61	7.9	10.33	10.83	11.02	10.35	9.39	9.51	8.59
Others	0	0	0	0	0	0	0	0	0	0
Total	100	100	100	100	100	100	100	100	100	100

#	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
Promoter	39.26	39.26	39.26	31.31	31.31	19.32	17.42	17.42	17.42	17.42
FII	5.71	5.14	5.14	6.75	6.59	14.46	18.55	19.52	19.28	19.31
DII	9.33	9.6	9.42	14.33	14.26	18.31	16.51	16.1	16.37	16.87
Public	4.14	4.45	4.62	6.03	6.33	6.45	6.06	5.5	5.58	5.04
Others	0	0	0	0	0	0	0	0	0	0
Total	58.44	58.44	58.44	58.44	58.5	58.54	58.54	58.54	58.64	58.64

Pros

Company has delivered good profit growth of 35% CAGR over last 5 years
Debtor days have improved from 85.52 to 70days.
Company is almost debt free.

Cons

Promoter holding is low: 29.71%.
Stock is trading at 12.6 times its book value.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.