Mid Cap Auto Ancillaries Stock Reports 47% Jump In Net, Rally 14% In 1-Month

Mid cap stock from Auto Ancillaries sector, Sona BLW Precision on Thursday announced its consolidated net profit at Rs 112 crore for the June quarter, up 47%. It announced its net profit at Rs 76 crore for the April-June period of preceding fiscal. Sona BLW Precision shares declined 0.95% to Rs 591.60 apiece on BSE today. Check details below:

Sona BLW Precision Q1 Result: The company announced its Revenue from operations jumped to Rs 731 crore in the first quarter of the current fiscal as compared to Rs 584 crore in the year-ago period, Sona BLW Precision Forgings stated in its BSE filing.

The company's board, which met on Thursday, approved an investment of Rs 99.7 crore for capacity expansion of its Chennai plant from 4 lakh to 6 lakh electric vehicle traction motors, according to a PTI report. It also decided to add a new capacity of 5 lakh units of printed circuit board assembly by 2024-2025.

"We have continued to progress on all our key strategic priorities. With four new BEV (battery Electric Vehicle) program wins, our net order book grew to Rs 22,000 crore, of which EVs contributed 78 per cent," Sona Comstar Managing Director & Group Chief Executive Officer Vivek Vikram Singh said.

Sona BLW Precision Stock Performance & Return: Last trading price of Sona BLW Precision share is Rs 591.60 apiece on BSE. Its 52-week high price is Rs 607.65 per share and 52-week low price is Rs 397.35 per share, respectively. Its market capitalisation is Rs 34,633.19 crore. Sona BLW Precision shares jumped 14% in last 1-month, gave return of 25% in last 3-months, offered 41% return YTD, and jumped 49% in last 2-years.

Sona BLW Precision About: It operates as an automotive systems and components manufacturer. It provides differential assemblies, gears, conventional and micro-hybrid starter motors, BSG systems, EV traction motors, and motor control units, among others. It serves automotive sector all across the globe.