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.

SKF India, a leading technology and solutions provider for bearings and units, has launched a branded mobile van campaign targeted for two-wheeler mechanics across the country.

The initiative aims to engage with over 8,000 mechanics covering 100 cities in 19 states in India. The campaign will focus on skill development, product awareness and provide anti-counterfeiting education. For the automotive aftermarket segment, counterfeiting remains a significant challenge, which poses risks to both customers and mechanics.

Alagesan Thasari, Director, SKF Automotive India & Southeast Asia, said, “At SKF, we believe in fostering strong partnerships within the automotive ecosystem. This campaign is a step forward in ensuring customer satisfaction and enhancing the skills of mechanics who are vital to the ecosystem. By providing them with the knowledge, tools, and resources they need to succeed, we aim to not only enhance their skills but also contribute to a more sustainable and efficient automotive aftermarket."

The mobile van will showcase SKF’s wide range of two-wheeler offerings, providing mechanics hands-on interaction with high-quality solutions. Customers will also get benefits under SKF’s 15-month warranty program.

A striking anamorphic sculpture, crafted from repurposed headlights, air conditioning units, chipboards and other discarded materials is helping to turn e-waste into an art. It is aiding to bring new meaning to sustainability and creativity. 
A one-of-a-kind installation created by artists Rohini Maiti and Surya Punjabi in collaboration with Tata Motors’ Re.Wi.Re Recycling Facility, the striking anamorphic sculpture reflects the capability to transform e-waste into a powerful artistic statement. 
Through ‘Behind A Silver Lining’, the artists have explored the intersection of art, science, and technology, giving new life in the process, to materials that would otherwise be discarded. The installation challenges the way we view industrial waste, encouraging audiences to see potential where others see obsolescence.
More than just an artwork, the sculpture sparks important conversations about sustainability, innovation, and responsible recycling. Paying tribute to the Kala Ghoda tradition of horse-inspired sculptures, it also reflects on the evolution of transportation and the role of design in shaping a sustainable future.
 

Mahindra Truck and Bus (MTBD) has strengthened its presence in Assam with a new State-of-the-Art dealership in Lakhimpur. This is the 87th dealership of the company and reflects the company’s robust 46 percent CAGR volume growth over the last three years. 
The dealership at Lakhimpur (Assam) is made up of four service bays. Capable of servicing more than 10 vehicles per day, it also the facility for driver lodging, 24-hour breakdown assistance and AdBlue sale. 
Speaking about the new dealership, Dr Venkat Srinivas, Business Head – Mahindra Truck and Bus, and Construction Equipment, Mahindra & Mahindra Ltd, mentioned, “MTBD's strong presence in the Indian CV market has helped secure the number three position in various sectors. The superior technology of the Blazo X, Furio and Cruzio BS6 OBD II range of commercial vehicles is emphasised by the mileage guarantee ‘Get More Mileage or Give The Truck Back’. The state-of-art 3S facility coupled with strong dealer partners will set high customer service standards and help to expand the business.”
 Sateesh Machiraju, Head- Sales & Customer care – Mahindra Truck and Bus division, said, “Our R&D team’s customer centricity approach has resulted in higher fluid efficiency for entire product range of truck & bus division. Our vehicles are equipped with the most advance telematics solution – iMAXX, which give complete control over the transport business with real time monitoring of fuel, drivers behaviour, and vehicle health parameter. The new mileage guarantee, embodied by the motto ‘Zyada Mileage Nahin Toh Truck Wapas’ will provide unmatched value to our customers.”
 

TyrePlex has raised INR 200 million in funding (approximately US$ 2.4 million) round led by PeerCapital with the participation from Titan Capital Winners Fund, Sattva Family Office, and existing investors, including 100 Unicorns. This funding will be strategically deployed to accelerate growth in multiple areas. TyrePlex plans to expand its geographic footprint into the top 25 cities across India, leveraging a combination of qualitative and quantitative data points for city selection.
By focusing on establishing a strong distribution base, TyrePlex as a B2B tyre marketplace, is keen to unlock additional services for both tyre brands and dealers. These include tailored solutions for customer relationship management, inventory optimisation and advanced analytics to drive informed decision-making.
A significant portion of the funds will be allocated to strengthening the company’s technology platform to further enhance dealer-centric tools and improve operational efficiencies. TyrePlex will additionally pilot tyre recycling and reverse logistics initiatives, addressing key sustainability challenges in the industry. The company is also focusing on creating a lean yet highly effective team to support its city expansion plans.
Founded in 2020 by auto-tech industry veterans, the company aims to revolutionise the highly fragmented tyre retail ecosystem in India by offering a comprehensive, technology-driven platform that empowers tyre dealers to enhance their efficiency and profitability.
With over 20,000 registered tyre dealers, the platform provides tools to improve sales and margins, streamline procurement, manage inventory, and set up online stores. The company’s app offers an integrated solution that simplifies operations, generates demand, and enables easy procurement of tyres with delivery within three or four hours.
The company’s dealer-centric approach has resulted in a high Net Promoter Score (NPS) and impressive repeat business metrics, reflecting the platform’s ability to address dealer pain points effectively. With seamless operations, reliable product availability, and competitive pricing, the platform has garnered strong loyalty among its users, fostering trust and long-term partnerships.