India's Sona BLW Precision Forgings hits over 6-month high on Q4 profit rise

Sona Blw Precision Forgings

04/05/2023 05:40

** Shares of Sona BLW Precision Forgings Ltd  SONB.NS  rise
as much as 3.7% to 507.35 rupees, hitting their highest since
Sept. 21, 2022
    ** Precision forged gear maker reports a 14.5% rise in
March-qtr consol profit which came in at 1.2 billion rupees 
($14.69 million) aided by margin expansion on positive impact
from operating leverage and product mix
    ** Rev from ops rose 35.5% to 7.43 billion rupees; Board
recommended a final dividend of 1.53 rupees per share  
    ** Analysts at Jefferies says that a new order win for
bundled differential system for class-4 electric CVs, underlines
Sona's rising product capability and customer traction
    ** Expect 31% revenue CAGR over FY23-26E with ~45% revenues
from BEVs by FY26E - brokerage
    ** About ~1.5 mln shares change hands by 9:56 a.m. IST, 0.9x
the 30-day avg of ~1.7 mln shares
    ** Ten of the 16 analysts covering the stock have a "buy" or
higher rating, two have "hold" while four rates it at "sell";
median PT is 535 rupees - Refinitiv data
    ** Stock up 16.7% so far this year, up to last close



($1 = 81.6780 Indian rupees)

 (Reporting by Dimpal Gulwani in Bengaluru)
 ((dimpal.gulwani@thomsonreuters.com))