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.

Banner Batteries, one of Europe’s leading manufacturers of original equipment batteries, has appointed Andrew Russell as its new Business Development Manager for Northern England and Scotland. The appointment is in line with Banner’s strategy to increase its market share in these key regions.

Russell will be responsible for enhancing connections with Banner's extensive clientele, which includes motor factors, independent distributors, garages, and specialty automobile parts stores. He will report to Country Manager Lee Quinney. Russell brings with him over two decades of experience in the UK aftermarket sector. Russell, who graduated from the University of the West of England with a BA (Hons) in Business Administration, began his career in retail management before switching to sales. Prior to joining Banner, he was Ring Automotive's Business Development Manager, where he was named the company's top salesperson in 2023. Account management, company development and building enduring connections with customers are his strong points.

Russell said, “I am delighted to get the opportunity to work for Banner, not only as they are one of Europe’s leading manufacturers of original equipment batteries, but a family-owned business. In order to continue to develop Banner’s market penetration across what is an important sales territory, I shall be looking to focus on four key principles – promoting O/E product quality aligned to price competitiveness, delivering outstanding levels of customer service and developing long-standing and successful customer relationships.”

Quinney said, “The whole team at Banner is delighted to welcome Andrew into the fold. He has a proven track record in the automotive aftermarket, and we are confident this will prove instrumental in strengthening Banner’s position across Scotland and the north, both of which are important strategic territories. Supplying a first-class service to our customer base remains one of our main priorities, together with promoting Banner’s original equipment pedigree, and Andrew will help spearhead this moving forwards.”

Manba Finance Limited, a NBFC, has announced a strategic alliance with BGauss Auto, Fin Coopers Capital and ProsParity to drive a shift towards sustainable mobility and empower the aspirations of customers across the country.
The association with BGauss Auto will help Manba Finance Limited to financing the former’s electric vehicles (EVs), making it easier in turn to tap the growing green mobility market. The NBFC company claims to use technology to streamline lending such that it ensures efficiency and transparency. It is said to offer a range of financial solutions for new two-wheelers, three-wheelers, electric two wheelers, electric three wheelers, used cars and to small businesses. 
The alliance with Fin Coopers Capital in vehicle financing would offer Manba Finance the opportunity to leverage the former’s expertise in investment and capital management. 
The association with ProsParity, on the other hand, will provide the company access to an advanced digital platform that streamlines credit flow and enhances loan processing. 
Monil Shah, Executive Director and Chief Business Officer, Manba Finance Limited, said about the development: “Our partnerships with BGauss Auto, Fin Coopers Capital, and ProsParity will help us to strengthen our commitment to delivering innovative and accessible financial solutions. These partnerships enable us to expand our reach, enhance our offerings, and support communities across India with efficient, transparent, and socially responsible services. Together, we aim to empower individuals and businesses, driving positive change and fostering long-term growth."
 

Kärcher India was the official wash partner for the Mountain Goat Event 2025, held on 15 -16 February 2025 at the Adventure Sports Resort, Kufri. Celebrating 90 years of innovation, Kärcher India brought its Guinness World Record-holding pressure washers to the extreme off-roading event, ensuring that over 80 SUVs remained spotless as they conquered the snow-covered and rocky trails of Shimla–Rampur–Kaza–Kalpa–Manali.
As participants conquered rocky trails, icy roads, and muddy paths, Kärcher India's dedicated washing bay and product showcase stall became a key stop for maintaining vehicle performance and cleanliness. Equipped with high-pressure washers and advanced cleaning technology, the Kärcher team ensured that every vehicle remained in top condition, removing stubborn dirt and grime accumulated throughout the journey. Designed for both B2B and personal use, Kärcher's pressure washers proved their versatility by tackling all kinds of grime—whether from rugged off-road expeditions or everyday cleaning needs.
Jatinder Kaul, Managing Director, Kärcher India, reflected on the collaboration, stating, "Being the Official Wash Partner for the Mountain Goat Event was an incredible opportunity to showcase the efficiency of our cleaning solutions in extreme conditions. Our technology is built for high performance, and this event perfectly showcased how it helps adventure enthusiasts maintain their vehicles even in the most extreme terrains. We’re proud to have been part of this exhilarating journey and look forward to continuing our support for the off-roading community."
Shashwat Gupta and Suraj Tayal, Founders of Mountain Goat, expressed, "Mountain Goat is all about pushing limits, and Kärcher India has once again proven its reliability in the toughest terrains. Having Kärcher India as our Official Wash Partner for this event strengthens our commitment to delivering a seamless and exhilarating experience. Their innovative cleaning technology has been instrumental in keeping our fleet in top condition, even in the harshest terrains. For every off-roader, maintaining their machine is a matter of pride, and Kärcher helps us uphold that passion." 
The event attracted a passionate community of adventure seekers and automotive enthusiasts, with Kärcher India’s presence highlighting its commitment to innovation, precision, and sustainability. By providing superior cleaning performance in the most demanding environments, Kärcher reinforced its position as a trusted brand in high-performance cleaning technology.
 

German tier 1 supplier ZF Group has inaugurated its India first ZF [pro]Tech plus workshop in New Delhi. The new workshop is part of ZF Aftermarket which has a legacy of over 40 years. The ZF [pro]Tech has been empowering workshops by providing technical knowledge, training and service data of OEMs.

The New Delhi workshop was inaugurated by Markus Wittig, Global Head of Business Line Passenger Car, ZF Aftermarket, and Vijay Khorgade, Head of Business Line Pass Car IMEA. Rolly Chadha, Head of European Motor Works and the owner of this workshop, led the inaugural celebration.

Markus Wittig, said, “I am very pleased with this launch of India’s first ZF [pro]Tech plus workshop. This reiterates our commitment and ambition in the Indian market. With this facility, we will be able to provide unparalleled support to our workshop partners, enhancing their capabilities and ensuring they are well-equipped to meet the evolving demands of the automotive industry in India. It also marks the start of a nationwide roll-out of our workshop concept in India.”

Vijay Khorgade, said, “For India, ZF Aftermarket is setting the benchmark for workshop expectations in terms of technology and quality. By offering technical know-how and training, we enable our partners to deliver exceptional service and support to their customers. As most of us know Indian automotive market is on the cusp of an evolution, and the ZF [pro]Tech plus concept enables workshops to keep pace with the new technologies and advances in mobility, making them relevant and ready for the future.”

Rolly Chadha, added, “We have been associated with ZF Group for several years now. As a legacy distributor, we are aware of the technology and quality ZF Aftermarket represents and we are thrilled to be part of ZF [pro]Tech plus network as the first-ever workshop. The comprehensive support and expertise provided by ZF Group will undoubtedly elevate our service standards and help us better serve our customers.”