Sona Comstar (Sona BLW Precision Forgings Ltd) has reported the highest ever revenue of INR 9.250 million in the second quarter of FY2024-25, marking a 17 percent year-on-year growth. 
Entering into an agreement with Escorts Kubota Ltd. (EKL) to acquire the Railway Equipment Division of EKL (RED) as a going concern on a slump sale basis for an enterprise value of INR 16 billion, the tier 1 automotive supplier registered an EBITDA of INR 2.55 billion in the respective quarter with a margin of 27.6 percent and 14 percent year-on-year respectively for electrified and non-electrified powertrain segments. 
Witnessing the revenue share from the Battery Electric Vehicles (BEV) business at 36 percent and a revenue growth of 53 percent, Sona Comstar recorded Profit After Tax (PAT) of INR 1.44 billion with a new profit margin of 15.5 percent and 16 percent year-on-year respectively. 
With EV programmes contributing 78 percent to the net order book of INR 231 billion as of 30 September 2024, the company recorded a revenue of INR 180 million with a 19 year-on-year growth for the period of first half of FY2024-25.  
The revenue share during the same period from BEV was 35 percent and the BEV revenue growth was 53 percent year-on-year.

The EBITDA for the first half of FY2024-25 was INR 5 billion and the margin, 27.8 and 19 percent respectively year-on-year. PAT from the same period was INR 2.86 billion with a net profit margin of 15.7 percent and 21 percent year-on-year. 
Speaking about the performance of Sona Comstar, the company’s MD and CEO Vivel Singh, mentioned, "We achieved our highest-ever quarterly revenue, EBITDA, BEV revenue and BEV revenue share in Q2 FY25. Our revenue grew 17 percent y-o-y, driven mainly by the scale-up of the EV programmes. Our BEV revenue grew 53 percent y-o-y representing 36 percent of overall revenues.”
“We have continued to progress on all our key strategic priorities. Today, we have entered an agreement with Escorts Kubota to acquire railway equipment division. Once completed, this acquisition will enhance our clean mobility product offerings by adding a market leading railway components business. The railway industry presents long term growth opportunities and with the railway division business we see significant potential to broaden our product range by incorporating advanced technology and engineered products," he added. 

BorgWarner is set to showcase its cutting-edge electrification technologies at the Bharat Mobility Global Expo 2025 in New Delhi, underlining its commitment to driving India's transition to cleaner, more efficient mobility. At Booth M5 in Hall H2 at the Components Show in Yashobhoomi, Dwarka, the company will present its latest advancements in electrified drivetrain solutions.

“Our participation in the Bharat Mobility Global Expo provides an excellent platform to demonstrate our pioneering eMobility technologies,” said Vice President Dr. Stefan Demmerle. “With our high-energy LFP batteries, advanced power electronics and thermal management solutions, we aim to support India’s rapid shift toward sustainable mobility. Our combination of global expertise and strong local presence positions us as a key partner in this transformation," he added. 

BorgWarner’s LFP battery systems, built on a modular architecture leveraging blade cell technology from FinDreams Battery, delivers high energy density and adaptability. These systems, available in various pack sizes, are suitable for electrified commercial vehicles such as buses and trucks, as well as diverse off-road applications. The batteries are designed to enhance vehicle range, safety and reliability, featuring a proprietary electronics and software platform tailored for future requirements.

In addition to battery systems, BorgWarner will spotlight its integrated drive modules, eMotors, high-voltage coolant heaters, next-generation inverters and advanced turbo-charging solutions. 

Minda Corporation, the flagship company of Spark Minda Group, has announced a strategic partnership with Pune-based component supplier Flash Electronics to further strengthen their role in the electric vehicle segment.

As per the understanding, Minda Corp is set to acquire 49 percent stake in Flash Electronics for a cash consideration of INR 13.72 billion. Flash Electronics is expected to clock INR 15 billion revenue in FY2025, EBITDA margin of 14 percent and ROCE of over 22 percent.

The strategic partnership will see Minda Corporation’s automotive body electronics and Flash’s automotive engine and powertrain electronics complement each other to offer a diverse range of solutions to its customers.

Furthermore, Flash is already a leading supplier of electricals and electronics for two- and three-wheeler segment, along with a diverse range of products such as motors, motor controllers and vehicle control units among others for EV powertrain. Minda Corp on its part has recently introduced a range of products such as DC-DC converters, battery telematics, power electronics products and battery chargers among others. The joining of forces between the two company will see them extend their relationships with automakers to become a complete system integrated supplier.

Ashok Minda, Chairman & Group CEO, Minda Corporation, said, “I have had the privilege of knowing Sanjeev Vasdev for many years, and we together are thrilled to embark on this strategic partnership journey with Flash Electronics. I am confident along with Sanjeev, I will be able to take this partnership to staggering heights. One plus one will be eleven. This partnership fits perfectly, strategically and financially in Minda Corporation’s long-term vision of creating value for customers and shareholders.”

Sanjeev Vasdev, Managing Director, Flash Electronics (India), added, “I am confident that this partnership will catapult both the companies to a different level, the thing I am most excited about is having Ashok by my side and also having the opportunity to interact and work with Aakash. I believe that this partnership will set new benchmark for the industry and create more opportunities for employees for both the companies through technology advancements.”

SEG Automotive,  one of the leading suppliers of start-stop solutions for the automotive industry, is now looking to make smart inroads in the Indian electric vehicle segment.

The company has expanded its product offerings in the country with three new products: the C8M alternator for IC vehicles, a 48V electric drive system and drive control unit, and a 3-in-1 electric drive unit for electric vehicles. These products will support a wide range of vehicle segments, such as two-wheelers (scooters and motorcycles), three-wheelers (L3 & L5), and passenger vehicles.

These three new products will enable the company to further scale up volume sales not only in India but also in the global market.

Ferdinando Sorrentino, Global CEO, SEG Automotive, said, “While the automotive market is moving towards newer sustainable technologies, SEG Automotive’s extensive range of product portfolio plays a pivotal role at the forefront of the sustainable mobility. To drive future growth, we are re-orienting towards ‘outside-in’ market approach, #New Journey, to be able to offer tailor made solutions for different markets in different regions through global synergies.”

Anil Kumar MR, Managing Director, SEG Automotive, said, “While we achieved a market leadership position in ICE with our innovative products, our commitment and innovations continue to remain strong for internal combustion engines (ICE), as part of the global strategy of ‘Last Man Standing’. We would also like to state with pride that SEG India is evolving as center of competence for light electric mobility (LEM) catering global needs. We are also developing system solutions for high-voltage applications, and our product portfolio ranges from 30kW to 250kW. This exemplifies our ability to #leadthechange based on market requirements.”

It is interesting to note that the new solutions from SEG Automotive will not only support the country’s electrification drive but also be explored as export solutions for several markets, including the ASEAN region, Africa, and neighbouring countries.

The company expects its early mover advantage, along with its existing relationship with ICE OEMs, to make it an ideal partner for their electrification journey.

Cummins Group in India (Cummins), a leading power solutions technology provider, will showcase its advanced integrated solutions for commercial vehicles (CVs) at the upcoming Bharat Mobility Global Expo 2025. 

The company will unveil various products such as fuel-efficient powertrains, zero-emission platforms and end-to-end ecosystem solutions.

Shveta Arya, India Region Leader for Cummins, said, “At Cummins, we are deeply committed to India’s growth story and take immense pride in our contributions to its journey of self-reliance. Guided by our long-term sustainability strategy, Planet 2050, we are leveraging our 60+ years of presence and technological expertise to power progress. This aligns with supporting the country’s vision of ‘Make in India’ and sustainable development. Our participation in the Bharat Mobility Global Expo reaffirms this commitment to address India’s evolving transportation needs and help it advance on its decarbonization journey.”

Nitin Jirafe, Managing Director, Tata Cummins and Head, Engine Business, Cummins, said, “The automotive industry is evolving rapidly, driven by stringent emissions regulations and the demand for innovative, cost-effective solutions. Cummins as an independent power solutions technology provider with a comprehensive technology portfolio, is uniquely positioned to address these dynamic needs. Guided by our Destination Zero strategy, we deliver integrated systems that offer unmatched performance, reliability and productivity. At the Bharat Mobility Global Expo, we will showcase future-ready technologies that empower customers to navigate the future of commercial mobility while achieving environmental sustainability and business success.”

Image for representational purpose only.