Sona Comstar to shift its Pune plant to a larger area
The company reported a revenue of Rs 657 crore during Q2FY23- which is 12 percent rise over similar period last year.
Sona Comstar is under the process of shifting operations from its existing plant in Bhosari near Pune, to a new and larger facility in the automotive belt of Chakan in Pune.
The company management on Friday informed that the new facility, with an area of 10 acres compared to the older plant area of 1.12 acres, will allow it to scale-up capacities to support the execution of a growing order book in the driveline business. "There will not be any disruption in the operations or supplies to customers due to this shifting of operations" the company said in a statement.
Sona Comstar reported a revenue of Rs 657 crore during Q2FY23- which is 12 percent rise over similar period last year. Out of the total, electric vehicles (BEV)'s revenue share was of Rs. 131 crores with 6 percent YoY growth. The company's net profit stood at Rs 93 crore during the comparable period, translating into a net profit margin of 14.1 percent.
Vivek Vikram Singh, MD & Group CEO of the company said, "Our net order book remains strong at Rs. 20,500 crores, of which EVs now contribute more than two-thirds"
Sona Comstar is primarily engaged in designing, manufacturing and supplying highly engineered, mission critical automotive systems and components to automotive OEMs in precision forging, mechanical and electrical systems, as well as base and application software development.
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