SONACOMS

Feb 10 (Reuters) - Sona BLW Precision Forgings Ltd SONB.NS:

• APPROVES AMENDMENT TO BTA WITH ESCORTS KUBOTA FOR RED ACQUISITION

• APPROVES PURCHASE OF 33,423 SQ YARDS LAND FROM ESCORTS KUBOTA

• LAND PURCHASE FOR 1.10 BILLION RUPEES IN FARIDABAD

Source text: ID:nNSE6r01y9

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Jan 29 (Reuters) - Sona BLW Precision Forgings Ltd SONB.NS:

• SONA BLW PRECISION FORGINGS LTD - SONA COMSTAR SIGNS MOU WITH THE EPLANE CO

• SONA BLW PRECISION FORGINGS LTD - MOU TO DEVELOP POWERTRAIN FOR EVTOLS AND DRONES

Source text: ID:nBSE9tSlc9

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Jan 10 (Reuters) - Sona BLW Precision Forgings Ltd SONB.NS:

• SIGNS MOU WITH TIHAN-IITH

Source text: ID:nBSE5pFjJS

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By Aditi Shah

NEW DELHI, Dec 12 (Reuters) - Indian auto component maker Sona Comstar, supplier to companies such as Ford F.N and Stellantis STLAM.MI, is in talks with carmakers in China, Japan and South Korea as it looks to expand beyond its main markets of North America and Europe.

In an interview, Group CEO Vivek Vikram Singh said Sona Comstar SONB.NS was in "active discussions" with automakers in these regions to supply components for electric and hybrid cars, as well as internal combustion engine vehicles.

He did not identify the carmakers, but said he expected the Eastern countries to contribute more than half of company revenues in five years, compared with a 66% share now for Europe and North America, while India makes up 28%.

"Growth through market share gains alone is no longer enough," Singh told Reuters, adding that the company needed to pivot to new markets.

Although the Eastern region, including India, makes up nearly half the global car market, Sona now has a relatively small share, he said.

Light vehicle sales in North America and Europe are expected to shrink to 34 million units this year from 37 million in 2015, Singh said.

In China, by contrast, sales of EVs, plug-in hybrids and extended-range vehicles have risen 50% in 2024 on the year to account for more than half the 20 million cars sold.

As car sales in the United States and Europe stagnate and carmakers' electrification plans slow, Singh said the company was looking to invest in mobility businesses beyond automobiles as well as new technologies to grow over the next decade.

"In the last nine years, we have grown over nine times by focusing on electrification, expanding our market share in North America and Europe and introducing new products," Singh added.

"To multiply our current size ninefold again, we need new approaches."

With a market valuation of more than $4.7 billion, Sona Comstar is best known for making differential gears that enable vehicle wheels to spin at different speeds, along with starter motors for certain hybrids.

It has a net order book of $2.7 billion, close to 80% of which is made up of EV components.

In it diversification push, Sona Comstar acquired Escorts Kubota's ESCO.NS railway equipment business this year and is separately also investing in companies that make sensors and telematics.

(Reporting by Aditi Shah; Editing by Clarence Fernandez)

(([email protected]; +91-11-4954 8023, +91-11-3015 8023; Reuters Messaging: twitter: @aditishahsays))

Oct 23 (Reuters) - Sona BLW Precision Forgings Ltd SONB.NS:

• SONA BLW PRECISION FORGINGS SEPT-QUARTER CONSOL NET PROFIT 1.44 BILLION RUPEES

• SONA BLW PRECISION FORGINGS SEPT-QUARTER CONSOL REVENUE FROM OPERATIONS 9.22 BILLION RUPEES

Source text for Eikon: [ID:]

Further company coverage: SONB.NS

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Oct 21 (Reuters) - Sona BLW Precision Forgings Ltd SONB.NS:

• INAUGURATION AND COMMENCEMENT OF PRODUCTION IN NEW MANESAR PLANT

Source text for Eikon: ID:nNSEcdp1VX

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Sept 4 (Reuters) - Sona BLW Precision Forgings Ltd SONB.NS:

• GETS GOVERNMENT INCENTIVE CERTIFICATION FOR HUB WHEEL MOTOR FOR ELECTRIC TWO WHEELERS

Source text for Eikon: ID:nBSEc4HQSl

Further company coverage: SONB.NS

(Reporting by VijayDattaram Malkar)

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** Shares of automotive component maker Sona BLW Precision Forgings SONB.NS up 2.2% at 655.25 rupees after rising as much as 3.6%

** SONB receives certification for its traction motor for electric three-wheelers under production-linked incentive (PLI) scheme from ministry of heavy industries

** Trading vol at 0.5x the 30-day daily avg as at 9.50am IST

** Avg rating of 17 analysts equivalent of "buy", median PT is 705 rupees - LSEG data

** Stock up 1.6% YTD

** Stock down 7.2% so far this quarter, on track to snap four straight quarterly gains

(Reporting by Ashish Chandra in Bengaluru)

(([email protected] (+91 7982114624))

June 18 (Reuters) - Sona BLW Precision Forgings Ltd SONB.NS:

• SONA BLW PRECISION FORGINGS - CERTIFICATION FOR ITS TRACTION MOTOR FOR ELECTRIC 3-WHEELERS UNDER PRODUCTION-LINKED INCENTIVE SCHEME

Source text for Eikon: ID:nBSE4JQpX5

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Corrects in third paragraph to reflect China exposure of Blackstone’s Asia-focused private equity funds. The author is a Reuters Breakingviews columnist. The opinions expressed are her own.

By Shritama Bose

MUMBAI, April 8 (Reuters Breakingviews) - Blackstone’s BX.N nearly two-decade-long punt on India is paying off in two ways. The U.S. buyout firm is preparing to float more businesses in the country’s buoyant capital markets, including an Antwerp-based diamond certification firm at up to 6 times the value it paid for it last year, according to Reuters. Its strategy to go heavy on the South Asian country once looked lucrative but quirky. Now others are rushing to emulate it.

Private equity firms around the world are sitting on $3 trillion of unsold, ageing investments and a freeze in initial public offerings makes it hard to return money to investors. These problems are particularly pronounced in Asia, where many regional funds including PAG and Carlyle CG.O put a big focus on China – a market U.S. investors are now cutting allocations to at steep discounts.

Blackstone has a partial shield against that problem. It has a single digit percentage of its Asia-focused private equity funds deployed in the People’s Republic. It’s less exposed to the pullback of capital from the world’s second largest economy and to Beijing’s attempt to prop up its battered stocks, including by blocking big IPOs like Syngenta.

By contrast, India is Blackstone’s third biggest market globally by equity investments after the U.S. and UK. Its Asia head of private equity, Amit Dixit, is based in Mumbai, and he’s doubling down where the firm has generated its best private equity returns globally.

What’s more, it looks easier than ever to exit investments in the country. Some $7.4 billion was raised through primary issues in India in the year to March, 19% higher than in the previous 12-month period, according to Prime Database. Recent Blackstone exits include Embassy Office Parks REIT EMBA.NS and automotive component maker Sona BLW Precision SONB.NS.

Overall exits in the country by private equity and venture capital investors in 2023 hit a record volume of 303 and were valued at $24.8 billion, half via open-market deals, according to EY and the Indian Private Equity & Venture Capital Association. Next up, Blackstone is looking to sell shares worth $950 million in the International Gemological Institute, which has most of its business in India, and mortgage financier Aadhar Housing Finance.

Asian funds trying to raise capital are busy assuring investors that they won’t deploy more than 20% of the pot into China. They are also trying to convince investors that they can spend money in alternative markets as effectively as firms like Blackstone that ramped up much earlier. India’s market isn’t perfect, but at least it is open for business.

Follow @ShritamaBose on X

CONTEXT NEWS

Blackstone is exploring raising $300 million via an initial public offering in India of the International Gemological Institute (IGI), less than a year after it acquired the company, Reuters reported on April 2, citing three unnamed people familiar with the matter. The company is targeting a valuation of up to $3.5 billion, according to two of the sources.

The U.S. private equity giant is also targeting an up to $650 million IPO for Indian home loans provider Aadhar Housing Finance at a valuation of up to $3 billion, Reuters reported on Jan. 30, citing two unnamed sources with direct knowledge.

(Editing by Una Galani and Katrina Hamlin)

((For previous columns by the author, Reuters customers can click on BOSE/
[email protected]; Reuters Messaging: shritama.bose.[email protected]))

Feb 23 (Reuters) - Sona BLW Precision Forgings Ltd SONB.NS:

• SIGNS DEFINITVE DOCUMENTS WITH CLEANMAX FOR CAPTIVE SOLAR POWER PLANT IN MAHARASTHRA

Source text for Eikon: ID:nBSE2fk5kw

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Feb 22 (Reuters) - Sona BLW Precision Forgings Ltd SONB.NS:

• SONA BLW PRECISION FORGINGS LTD - SONA COMSTAR RECEIVED PLI CERTIFICATE FOR TRACTION MOTOR FOR ELECTRIC TWO-WHEELERS

Source text for Eikon: ID:nBSE8HZyw5

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** Shares of Sona BLW Precision Forgings SONB.NS up as much as 3.3% to 599 rupees

** Precision forged gears maker reported a 23.9% Y/Y rise in its Q3 net profit to 1.33 bln rupees ($16 million), rev from ops rose 15.8%

** Co declared an interim dividend of 1.53 rupees per share

** Stock has been trading above its 200-day moving avg since April 28, 2023

** Stock was up for the third straight quarter in the Dec quarter

** Avg rating of 15 analysts close to equivalent of "buy"; median PT is 665 rupees - LSEG

($1 = 83.1190 Indian rupees)

(Reporting by Navamya Ganesh Acharya in Bengaluru)

(([email protected]; +91 8805175330 ;))

Jan 23 (Reuters) - Sona BLW Precision Forgings Ltd SONB.NS:

• DIVIDEND OF 1.53 RUPEES PER SHARE

• DEC-QUARTER CONSOL NET PROFIT 1.33 BILLION RUPEES VERSUS PROFIT 1.07 BILLION RUPEES

• DEC-QUARTER CONSOL REVENUE FROM OPERATIONS 7.82 BILLION RUPEES VERSUS 6.75 BILLION RUPEES

Source text for Eikon: ID:nBSEblzWGG

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Nov 27 (Reuters) - Sona BLW Precision Forgings Ltd SONB.NS:

• SONA BLW PRECISION FORGINGS LTD - EXECUTED LETTER OF INTENTS WITH CLEANMAX ENVIRO ENERGY SOLUTIONS

• SONA BLW PRECISION FORGINGS - LOI FOR SETTING UP CAPTIVE GENERATING PLANT IN HARYANA, MAHARASHTRA

Source text for Eikon: ID:nBSEcgv688

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** Shares of Sona BLW Precision Forgings SONB.NS rise as much as 5.3% to 539.95 rupees, it's sharpest intraday pct gain since May 31

** Precision forged gear maker on Wednesday reported a 34% rise in its consolidated Q2 net profit to 1.24 billion rupees ($14.90 million)

** More than 2 mln shares change hands by 09:50 a.m. IST, 2x the 30-day avg

** SONB also approved investments in captive solar power plant; to incorporate one or more special purpose vehicle (SPV)

** SONB will invest about 75 million rupees to acquire 26% share capital of SPV

** Stock gained 13.1% in the September qtr, last up 3.1%

($1 = 83.2300 Indian rupees)

(Reporting by Anisha Ajith in Bengaluru)

(([email protected];))

Oct 25 (Reuters) - Sona BLW Precision Forgings Ltd SONB.NS:

• SEPT-QUARTER CONSOL NET PROFIT 1.24 BILLION RUPEES VERSUS PROFIT 925.5 MILLION RUPEES

• SEPT-QUARTER CONSOL REVENUE FROM OPERATIONS 7.87 BILLION RUPEES VERSUS 6.53 BILLION RUPEES

• APPROVES INVESTMENTS IN CAPTIVE SOLAR POWER PLANT UNDER OPEN ACCESS MECHANISM

• APPROVES INCORPORATION OF ONE OR MORE SPECIAL PURPOSE VEHICLES

• CO WILL INVEST ABOUT 75 MILLION RUPEES FOR ACQUIRING 26% IN FORM OF EQUITY SHARE CAPITAL OF THE SPV

• REMAINING 74% OF EQUITY SHARE CAPITAL WILL BE ACQUIRED BY CLEAN MAX ENVIRO ENERGY SOLUTIONS

Source text for Eikon: ID:nBSE51dPpc

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Sept 18 (Reuters) - Sona BLW Precision Forgings Ltd SONB.NS:

• SUPPLIES TO THREE OEMS IN U.S. WHERE UNITED AUTO WORKERS ARE ON STRIKE

• UNITED AUTO WORKERS IN UNITED STATES OF AMERICA WENT ON STRIKE AT SOME PLANTS

• WORKERS WENT ON STRIKE IN PLANTS OF THREE ORIGINAL EQUIPMENT MANUFACTURER ON 15TH SEPTEMBER

• STRIKE HAS MINIMAL IMPACT ON SALES OF COMPANY CURRENTLY

• MONITORING SITUATION CLOSELY, THERE IS MINIMAL IMPACT ON CO'S SALES CURRENTLY

• THERE MAY BE HIGHER POTENTIAL IMPACT IF STRIKE PERSISTS FOR LONG OR EXTENDS TO OTHER PLANTS

Source text for Eikon: ID:nBSE7S7Y0f

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Sept 14 (Reuters) - Sona BLW Precision Forgings Ltd SONB.NS:

• APPROVED INVESTMENT OF $1.6 MILLION IN FORM OF SHARE CAPITAL IN SONA BLW EDRIVE MEXICANA, S.A.P.I. DE C.V

Source text for Eikon: ID:nBSE5P1x80

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July 27 (Reuters) - Sona BLW Precision Forgings Ltd SONB.NS:

• SONA BLW PRECISION FORGINGS LTD - HAVE APPROVED EXPANSION OF EXISTING CAPACITY AT COMPANY'S CHENNAI PLANT

• SONA BLW PRECISION FORGINGS LTD - APPROVED INVESTMENT OF 997 MILLION RUPPEES FOR CAPACITY EXPANSION OF CHENNAI PLANT

• SONA BLW PRECISION FORGINGS LTD - CAPACITY EXPANSION FROM 400,000 TO 600,000 EV TRACTION MOTORS, NEW CAPACITY 500,000 UNITS OF PCB ASSEMBLY, BY FY25

Source text for Eikon: ID:nBSE95xGmx

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June 28 (Reuters) - Sona BLW Precision Forgings Ltd SONB.NS:

• INCORPORATED UNIT SONA BLW EDRIVE MEXICANA, S.A.P.I. DE C.V. IN MEXICO

Source text for Eikon: ID:nBSEb8LX47

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May 31 (Reuters) - Sona BLW Precision Forgings Ltd SONB.NS:

• AUREUS INVESTMENT PVT LTD SOLD 3.246% STAKE IN CO

Source text for Eikon: ID:nBSE5SvYM3

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May 16 (Reuters) - Sona BLW Precision Forgings Ltd SONB.NS:

• CO SIGNED TECHNOLOGY LICENSING AGREEMENT WITH UK'S EQUIPMAKE

• EQUIPMAKE WILL LICENSE CERTAIN PATENTED SPOKE MOTOR, INVERTER TECHNOLOGY TO CO

Source text for Eikon: ID:nBSE2NS2Yt

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** 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)

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May 3 (Reuters) - Sona BLW Precision Forgings Ltd SONB.NS:

• MARCH-QUARTER CONSOL PROFIT 1.2 BILLION RUPEES VERSUS 1.05 BILLION RUPEES

• MARCH-QUARTER CONSOL REVENUE FROM OPERATIONS 7.43 BILLION RUPEES VERSUS 5.50 BILLION RUPEES

• FINAL DIVIDEND OF 1.53 RUPEES PER SHARE

Source text for Eikon: ID:nBSEbYxFYN

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April 10 (Reuters) - Sona BLW Precision Forgings Ltd SONB.NS:

• SONA BLW PRECISION FORGINGS LTD - INAUGURATES NEW PLANT IN CHAKAN, PUNE

• SONA BLW PRECISION FORGINGS LTD - NEW PLANT WILL MANUFACTURE DRIVELINE PRODUCTS FOR EV AND NON-EV APPLICATIONS

• SONA BLW PRECISION FORGINGS LTD - TOTAL INVESTMENT REQUIRED FOR THIS PLANT IS ESTIMATED AT 2.31 BILLION RUPEES

• SONA BLW PRECISION FORGINGS LTD - NEW CHAKAN PLANT HAS PRODUCTION CAPACITY OF NEARLY 11.8 MILLION GEARS

Source text for Eikon: ID:nBSE9FW7l6

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