Sona BLW Precision Forgings Ltd (Sona Comstar) announced its financial results for the quarter and nine-months ended 31 December, 2022.

Key financial highlights – Q3 FY23 – 
· Revenue of INR 6.85 billion with 39 percent YoY growth. 
· 26 percent revenue share from Battery Electric Vehicles (BEV), BEV revenue growth of 29 percent YoY. 
· EBITDA of INR 1.86 billion with a margin of 27.2 percent and 43 percent YoY growth.
· PAT of INR 1.07 billion with a net profit margin of 15.6 percent and 45 percent YoY growth.
· The net order book increased to INR 238 billion from INR 205 billion as of 30 September, 2022.

Key financial highlights – 9M FY23 –
· Revenue of INR 19.32 billion with 22 percent YoY growth.
· 25 percent revenue share from Battery Electric Vehicles (BEV), BEV revenue growth of 31 percent YoY. 
· EBITDA of INR 4.94 billion with an EBITDA margin of 25.6 percent and 17 percent YoY growth. 
· PAT of INR 2.76 billion with a net profit margin of 14.3 percent and 18 percent YoY growth.
· The net order book increased to INR 238 billion from INR 186 billion as of 31 March, 2022.

Commenting on the performance, Vivek Vikram Singh, Managing Director and Group CEO, Sona Comstar, said, “We delivered our highest quarterly revenue, EBITDA and net profit in Q3 FY23. Our revenue grew 39 percent YoY in the last quarter, driven by the scale-up of revenue from new programs. Our BEV revenue was higher by 29 percent YOY, representing 26 percent of overall revenues. Despite the continued high steel prices, the EBITDA margin improved by 80 bps YoY to 27.2 percent, driving EBITDA growth of 43 percent and PAT growth of 45 percent. We continue to progress on all our key strategic priorities. We won the largest single new order in our history, an EV driveline program which is a big step forward for us in both business development and technology, as this is a new product called an Electronic Differential Lock (EDL). This win demonstrates our ability to keep adding new and higher value-added products for our customers. We also made our first acquisition since 2019, and with NOVELIC, we have added a third pillar of sensors and software to our business.”

Operational highlights – Q3 FY23 and 9M FY23

Key developments
· A global EV OEM has awarded the company a new program to supply EDL for their upcoming BEV model. This program has added INR 33.5 billion to the order book and is the single largest new order win in the company's history. The program's start of production is in H2 FY24.

· The company has been awarded a new program for a US-European OEM of PVs and EVs to supply differential assemblies for their upcoming BEV model. This program has added INR 3.6 billion to the order book. The program's start of production is in H2 FY24.

Electrification 
· BEV revenue share: Revenue from battery EV grew 31 percent YoY INR 4.67 billion in 9M FY23 and contributed 25 percent of total revenue against 23 percent in 9M FY22. 

· EV programs: Eleven new EV programs and six new customers were added in 9M FY23. The number of awarded programs increased to 41 across 25 different customers.

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Smart Garage, an AI-driven automotive service marketplace startup, has raised INR 24 million in a Pre-Series A funding round.

This capital, the company said, represents the initial phase of a broader INR 150 million fundraising target. The company intends to secure the remaining INR 126 million over the next 12 to 18 months to support its expansion and reach a projected revenue run-rate of INR 800 million by the end of FY2027.

The platform operates on a B2B2C model, connecting a network of more than 500 partner garages across Tier-1 and Tier-2 cities with fleet operators, insurance firms and vehicle owners.

It aims to provide structure to India’s fragmented automotive aftermarket, which is currently valued at approximately USD 11–14 billion and forecast to reach USD 20–25 billion over the next decade. Smart Garage plans to scale its network to 10,000 workshops by 2030 through its software-as-a-service (SaaS) platform.

The newly acquired funds will be utilised to advance deep-learning capabilities in vehicle diagnostics, damage assessment and predictive maintenance. Smart Garage also intends to standardise its workshop network through structured training and strengthen digital workflows.

While the current revenue model is driven by franchise operations and spare parts supply via Pikpart, the company plans to introduce commission-based and recurring SaaS subscription models for its diagnostic and inventory management tools.

Pawan Singh Raghuvanshi, Founder and CEO, Smart Garage, said, “This INR 24 million Pre-Series A round marks the start of our broader INR 150 million fundraising journey. While the industry often focuses on hardware fixes, we believe real impact comes from solving deeper operational inefficiencies through AI and technology. Our goal is to build a transparent, trusted, and fully digital automotive aftermarket ecosystem in India – one that empowers workshops and delivers a seamless experience to customers.”

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Messe Frankfurt Saudi Arabia has announced the postponement of the upcoming edition of Automechanika Riyadh. Originally scheduled for 4-6 May 2026, the trade event will now focus on its return to the Kingdom in 2027.

The decision follows an assessment of the regional environment. The organiser stated that the move prioritises the safety and confidence of partners and staff while ensuring the event can maintain its international scale and value.

Automechanika Riyadh serves as a platform for the Saudi automotive aftermarket, connecting manufacturers, distributors, and service providers. The 2027 edition is intended to align with the growth of the sector under the country's Vision 2030 framework.

Martyn Cox, Show Director, Messe Frankfurt Middle East (MFME), said, “This is not a decision we have taken lightly. Automechanika Riyadh has quickly established itself as an important platform for the Saudi automotive aftermarket. However, our responsibility is to bring the industry together in a way that is safe, commercially valuable, and truly international in scale. In the current environment, and with the event only weeks away, this decision ensures we can deliver the strongest possible business outcomes for our exhibitors, partners, and visitors.”

Chris Lee, Portfolio Director for Mobility & Logistics at MFME, added, “We have taken the decision to focus on returning with a stronger, larger and more impactful event in 2027, one that reflects the ambition of the Saudi market and the strength of the global Automechanika brand.”

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The American National Highway Traffic Safety Administration (NHTSA) has released findings attributing 10 deaths and two injuries to air bag inflators manufactured by Jilin Province Detiannuo Safety Technology Co., (DTN). The agency concluded in an initial decision that the components contain a safety-related defect.

NHTSA opened its investigation in October 2025 following a series of crashes where frontal driver air bag inflators ruptured. According to the report, the units exploded during deployment, resulting in metal fragments entering the vehicle cabin.

Key Details of the Findings:

• Incident Scope: 12 crashes recorded over the past three years.
• Vehicle Models: Known incidents occurred in Chevrolet Malibu and Hyundai Sonata vehicles, though the risk may not be limited to these models.
• Component Origin: The parts were manufactured by DTN in China and are suspected of being imported into the United States.

NHTSA is currently investigating the volume of these inflators in the US market to determine if a permanent sales ban is required.

The agency has advised owners of used vehicles to verify repair histories, particularly if a vehicle was involved in a crash with air bag deployment since 2020 and was not repaired at a manufacturer's dealership.

Vehicles identified with a DTN inflator should not be driven until the component is replaced with parts from the original equipment manufacturer. Suspect inflators can be identified by specific serial numbers and bar codes on the inflator module and cap.

Sean P. Duffy, U.S. Transportation Secretary, said, “Our initial investigation into the use of illegal Chinese airbags in auto shops has revealed a disturbing trend: these substandard parts are killing American families. The Trump Administration will continue to fight to keep you and your family safe on our roads.”

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AIS Windshield Experts, an ISO 9001:2015 certified automotive glass repair and replacement company, has announced the opening of its 143rd service centre. The expansion brings the company’s operations to more than 70 cities in India, supported by a fleet of mobile service vans for on-site repairs.

The company provides glass solutions for all vehicle makes and models using materials that meet Original Equipment Manufacturer (OEM) standards. Maintenance and replacement tasks are performed by certified technicians and include a one-year warranty on products and workmanship.

Beyond standard glass replacement, the network handles specialised technical requirements, including:

• Luxury and Commercial Vehicles: Glass replacement for high-end cars and heavy vehicles.
• Modern Vehicle Sensors: Management of sensor recalibration and sunroof glass.
• ADAS Recalibration: Realignment of Advanced Driver-Assistance Systems following windshield replacement to ensure camera and sensor accuracy.
• Value-Added Services: Headlight restoration, wiper blade replacement and car battery services.

AIS Windshield Experts has established partnerships with major insurance providers to offer cashless facilities, intended to simplify the claims process for customers. The company’s growth strategy focuses on further penetration into Tier-II and Tier-III cities to standardise auto glass care in smaller markets.

Ratish Ramanujam, Executive Director & COO, AIS Windshield Experts, said, "Reaching 143 outlets is not just a number; it’s a testament to the trust over 1 million satisfied customers have placed in the AIS Windshield Experts brand. This expansive network significantly reduces downtime for vehicle owners and fleets, ensuring quick, reliable, and standardised service nationwide. We are proud to be driving the shift towards organised, quality-assured auto glass care in India. AIS Windshield Experts also specialises in high-end technical repairs and refinements like sunroof glass replacement, glass replacement in luxury cars as well as commercial vehicles, as well as handling the intricacies of delicate sensors in modern vehicles."

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