Earning Call Transcript for Investor Call held for quarterly and financial year ended 31st March, 2026.
SONACOMS · price
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Sona Comstar reported its best ever Q4 with revenue of Rs 1,272 crore (up 47% YoY), EBITDA of Rs 311 crore (margin 24.4%), and PAT of Rs 192 crore. Full year FY26 revenue was Rs 4,475 crore (up 26%) with EBITDA margin of 24.7%. BEV revenue share reached a record 39% in Q4. The company won 4 new driveline orders including 3 from European OEMs (first EV order win from Europe in 4 years) and 1 hybrid order. Net order book stands at Rs 237 billion with 70% from EVs. Management flagged headwinds from commodity inflation (steel, aluminum, copper) and Haryana wage hikes effective April 2026 that will pressure margins. India contributed over 50% of revenue for the full year, showing successful geographic diversification. Railway business received approvals for electric panels and HVAC systems. Management stated the company has Rs 1,269 crore cash and is evaluating M&A opportunities but will be disciplined.
Strong quarter with robust growth but margins face near-term pressure from commodity inflation and wage increases. Cash-rich balance sheet provides flexibility for growth investments while management remains disciplined on capital deployment.