Sona Comstar Q4 FY26: Revenue up 47%, margins decline, ₹237 bn orderbook

Mgmt Guided Margin PressureOrder Pipeline DisclosedInvestor Communications View source PDF

SONACOMS · price

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-4.7%1-day move

₹605.35

prior close

₹614.00

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AI summary

Q4 FY26 revenue grew 47% YoY to ₹12,723 mn; EBITDA rose 32% to ₹3,106 mn but margin fell ~2.7% to 24.4% on adverse product mix and commodity inflation. PAT up 17% to ₹1,919 mn (margin 14.7%). FY26 revenue grew 26% to ₹44,751 mn; adjusted PAT up 11% to ₹6,703 mn. BEV revenue grew 22% in Q4, now 39% of auto product sales. Orderbook stood at ₹237 bn (5.3x FY26 revenue) with ₹57 bn added in FY26. Won 4 new EV/hybrid driveline programs adding ₹5,800 mn. Net cash position; RoCE 15.4%, RoE 13.2%.

Likely market impact

Strong revenue growth and solid order pipeline are positive, but margin compression in both Q4 and FY26 raises concerns on profitability sustainability.