Sona BLW Precision Forgings Ltd

Q2 FY26

Sona BLW Precision Forgings Q2 FY26: Capex ₹198 Cr

Q2 FY26 earnings call: what management said on revenue, margins and capex.

Price₹800

Market cap₹49.9K Cr

P/E64.2

Updated16 Oct 2026

Read4 min read

The short version

Strong growth expected from new products in core segments like brakes and motors, with a robust product pipeline (Page 14). Revenue and PAT grew by 10% and 4% respectively in H1 FY26, with EBITDA slightly lower by 3%.

From Sona BLW Precision Forgings Ltd's Q2 FY26 earnings-call transcript · updated 16 Oct 2026.

Revenue & Sales Performance

Strong growth expected from new products in core segments like brakes and motors, with a robust product pipeline (Page 14).
Railway business is set for robust growth with capacity expansion and new product commercialization slated over the next 3 years (Page 14-15).
EV traction motors expected to grow as manufacturing challenges are overcome; however, short-term EV revenue can be volatile due to large customers (Page 6, 19).
New programs in Mexico plant and expanding customer base globally will contribute to revenue diversification and growth (Page 6, 12-13).

- Diversification across geographies, products, and customers aims to offset flat global light vehicle sales and geopolitical risks (Page 6). - Robotics (cobots and humanoids) present significant long-term growth potential, but meaningful revenues are expected 5+ years out (Page 19). Overall, growth is driven by product innovation, geographic expansion, diversification, and new industry plays with a balanced view on medium to long-term horizons.

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Profitability & Margins

Revenue and PAT grew by 10% and 4% respectively in H1 FY26, with EBITDA slightly lower by 3%.
BEV revenue share declined from 35% to 30% primarily due to one customer/model.
New EV programs: 62 EV programs across 32 customers; 33 in production, 29 to start in FY26/FY27.
Suspension system orders worth ₹8.2 billion to start production in Q2 FY27.
Order book trimmed for low-visibility programs; net order book at ₹236 billion with 70% EV share.
Profitability remains strong with EBITDA around 25% margin and PAT near 15% margin despite revenue pressures.
Margin improvement efforts ongoing via cost reductions, process improvements, and material innovations.
Railway business added growth potential with improved margins targeted.
Long-term growth depends on ramp-up of new products in brakes, motors, driveline, and robotics segments.

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Capital Expenditure Plans

₹198 crores spent on CAPEX in the first half of the year.
₹110 crores spent on land purchase for railway business future expansion.
Investment in railway business acquisition with major cash outflows totaling nearly ₹1,700 crore.
Expansion of capacity in railway business underway to support robust growth.
Mexico driveline plant established to serve North American markets; ramp-up ongoing with production expected from Q2 FY28.

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Order Book & Pipeline

Net order book stands at ₹236 billion after proactive removal of low-visibility programs.
Removal of orders with low future production visibility included a consumption of ₹36 billion in residual values.
Fresh additions of new orders worth ₹10 billion were made recently.
EV programs constitute 70% of the current order book.
The order book includes ₹13 billion worth of railway business orders (shorter duration due to nature).
62 EV programs across 32 customers, with 33 in production: 19 fully matured, 14 ramping up.
Remaining 29 EV programs are not yet in production and will start production in this or following years.

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Sona BLW Precision Forgings Ltd — Quarterly revenue & net profit

Revenue Net profit

Jun 2025Q1 FY26

Sep 2025Q2 FY26

Dec 2025Q3 FY26

Mar 2026Q4 FY26

Jun 2026Q1 FY27

Sep 2026Q2 FY27

Reported quarterly figures (₹ Cr). Latest (Q2 FY27): revenue ₹1.4K Cr, net profit ₹197 Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.

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Frequently Asked Questions

What were Sona BLW Precision Forgings Ltd Q2 FY26 results?

What is Sona BLW Precision Forgings Ltd share price analysis?

Sona BLW Precision Forgings Ltd currently shows a neutral. The stock trades at a P/E of 64.2 with a market cap of ₹49,930 Cr. Investors should review the full earnings analysis for detailed insights.

Is Sona BLW Precision Forgings Ltd planning capital expenditure?

₹198 crores spent on CAPEX in the first half of the year.

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This analysis is AI-generated based on publicly available earnings data and the company's earnings call transcript. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.

Revenue & Sales Performance

Profitability & Margins

Capital Expenditure Plans

Order Book & Pipeline

Sona BLW Precision Forgings Ltd — Quarterly revenue & net profit

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What Sona BLW Precision Forgings Ltd's management said in earlier quarters

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Frequently Asked Questions

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