Revenue share from Electrical Vehicle segment to touch 50% by FY 27
Sona Comstar, an Automotive Technology firm, expects its revenue share from the Electric Vehicle segment to touch 50 % by Financial Year 2027. She said in an interview that with a strong pipeline of orders & an expanding Electric Vehicle market, the revenue share of the company’s Electric Vehicle segment in the overall top line jumped to 29 % in the month of June quarter from a meager 2% in the financial year 2020.
As much as 66 % of our overall order book pertains to the Electric Vehicle segment. So, EV segment revenue should account for 45 % of the overall revenue in the next three to four years. Also, if the EV 2-wheeler segment takes off in India, the Electric Vehicle segment revenue will be higher. So, we would have to wait & see. If we win NSE 9.96 % more programs in the order book shape, which will also help, this share may reach 45 to 50% by Financial Year 2027.
The company earlier this week reported a 5 % growth in profit after tax at Rs 75.80 crore & 18 % increase in the topline at Rs 589.20 crore in the June quarter over the year-ago time period aided by a 68% rise in the Battery Electric Vehicles (BEV) revenue compared to Q1FY22.
Companies, which are Gurugram-based, have two business verticals; driveline & motor, and 13 other products. It has nine manufacturing facilities in four countries — India, USA, China, and Mexico and three R&D centers. It is EV-focused product, which includes differential assemblies, reduction gears, traction motors, motor controllers, e-axles, and integrated modules among others.