Sona BLW Precision Forgings (Sona Comstar) has reported its financial results for Q1 FY2026, posting a 5 percent YoY decline in revenue to INR 8.50 billion. The Profit after tax stood at INR 1.24 billion, down 12 percent from the previous year, while EBITDA fell by 19 percent to INR 2.02 billion, with a margin of 23.8 percent.

During the period, the revenue from Battery Electric Vehicles (BEVs) dropped 25 percent YoY to INR 2.10 billion, accounting for 28 percent of the total revenue. However, EV programmes now contribute 75 percent of the company’s INR 262 billion net order book as of the end of the quarter.

Vivek Vikram Singh, MD and Group CEO, said, "Q1 FY2026 was a challenging quarter for us due to the convergence of multiple adverse factors, which are temporary and some have started to resolve already. We ended the quarter with a few large order wins, closing the quarter with an all-time high net order book. We have received a large order from a North American OEM to supply differential assemblies. This is our largest order win in the last two and a half years. We believe this is likely to be one of the most significant and successful EV launches in many years. We have strengthened our position as the leading supplier of drive motors for electric two- and three-wheelers in India by securing another order from our existing customer for their upcoming electric three-wheelers. We have recently signed a term sheet with JNT to form a JV in China. This JV marks a significant step in our strategy to expand into the rapidly growing Asian markets. With a robust order book already in place, we expect operations to commence later this year.”

During the quarter, the company secured two new EV programmes, bringing its total to 60 across 32 customers. Among the key developments was a new joint venture with China’s Jinnaite Machinery (JNT), signed on 20 July. Under this JV, Sona Comstar will invest USD 12 million, while JNT will contribute USD 8 million in assets and business. The JV aims to manufacture and supply driveline systems to automotive OEMs in China and globally, with operations expected to begin in the second half of FY2026.

Additionally, Sona Comstar received an INR 15.5 billion order from a North American OEM to supply differential assemblies for a new electric passenger vehicle platform, with production set to start in Q3 FY2028. A separate order from an Indian OEM for drive motors for electric three-wheelers added INR 2.6 billion to the order book, with production expected to begin in Q4 FY2026.

The company also completed the acquisition of the Railway Equipment Division from Escorts Kubota on 1 June 2025. The business has been fully integrated and its financials consolidated from that date.

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India Resurgence Fund (IndiaRF), an investment platform promoted by Piramal Finance and Bain Capital, has acquired a majority stake in Fine Edge Engineering, which houses the iron casting and machining business of Ashok Iron Works and its related entities.

Founded in 1974, the Belagavi, Karnataka-based Ashok Iron Works Group manufactures machined iron castings. The company operates four foundries with an annual capacity of 144,000 metric tonnes and seven machine shops capable of producing 600,000 parts per year.

The company manufactures engine blocks, engine heads and transmission housings weighing between 20 kilograms and 5,000 kilograms, with capabilities to machine engine blocks from single-cylinder to 18-cylinder configurations. Its products supply industrial engine, agricultural equipment and automotive manufacturing sectors.

Shantanu Nalavadi, Managing Director, IndiaRF, said, “IndiaRF is excited about the Company’s growth potential and sees significant opportunities to further strengthen its capabilities and scale the business. We will support the business through investments in capacity expansion, R&D, new product development and operational excellence, while building on its long-standing customer relationships. The Company is also well positioned to benefit from growing demand for high-horsepower engine applications, particularly as the global data centre build-out accelerates.”

Jayant Humbarwadi, Joint Managing Director, Ashok Iron Works Group, said, “Over the past four decades, we have built a strong position in the iron casting and machining industry, supported by long-standing customer relationships, strong R&D capabilities and a focus on meeting our customers' evolving requirements. We are a single- or dual-source supplier to most of our customers and are pleased to partner with IndiaRF, whose experience in transforming businesses will support the Company's next phase of growth.”

The transaction provides capital for capacity expansion and research and development activities, while positioning the manufacturing unit to meet supply demands across industrial and high-horsepower engine markets.

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Automotive tier 1 supplier Uno Minda has announced its financial results for Q1 FY2027, achieving INR 55.57 billion in consolidated revenue, up 26 percent YoY. Last year, the company attained normalised revenue of INR 44.20 billion (i.e. excluding prior period income of INR 690 million) in Q1FY2026.

The EBITDA came at INR 5.72 billion, net profit of INR 2.96 billion, up 24 percent YoY.

This company witnessed growth across its core product offerings, including switches, lighting, alloy wheels, seating, as well as its new-age EV systems and alternate fuel divisions.

Ravi Mehra, Managing Director, Uno Minda, said, “Q1 FY27 reinforces Uno Minda’s strategic trajectory as we continue to outperform the broader automotive market. The ongoing shift toward vehicle premiumisation, connected mobility, and electrification is fundamentally elevating per-vehicle content across segments. By aligning our R&D roadmap with these structural industry shifts and accelerating execution across our new-age platforms, we are not just participating in market growth—we are driving the technological evolution of the vehicle cabin. Backed by disciplined capital deployment and expanding capacity, we are exceptionally well-positioned to lead the next phase of mobility innovation”

Sunil Bohra, CFO, Uno Minda, added, “Q1 FY27 marks a historic milestone for Uno Minda, as we delivered our highest-ever quarterly revenues with 26% YoY growth and a 24% increase in PAT. While we navigated a challenging commodity pricing environment during the quarter, underlying demand across the automotive sector remains strong. Our resilient performance reflects the strength of our technology leadership, product diversification, and focus on operational efficiencies. Driven by multiple growth initiatives, strategic investments, and increasing momentum in our new-age businesses, we remain confident of delivering sustainable, profitable growth while creating long-term value for our shareholders and other stakeholders.”

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Automotive supplier BorgWarner has secured extensions for multiple high-voltage inverter programs with a European original equipment manufacturer (OEM). The contract covers inverter designs for plug-in hybrid and 800V battery-electric vehicle platforms, with the start of production planned for 2029.

Under the agreement, BorgWarner will supply updated high-voltage inverters for plug-in hybrid vehicles incorporating its Application-Specific Integrated Circuit (ASIC) technology, configured to interface with the OEM's vehicle operating system.

For 800V battery-electric applications, the company will supply traction inverters utilising its Viper silicon carbide (SiC) power switches paired with a dual-sided-cooled power module.

Isabelle McKenzie, President and General Manager, BorgWarner PowerDrive Systems, said, “Extending several high-volume programs at the same time confirms BorgWarner's leading position in power electronics and the strength of our technology, in-house expertise and customer focus. Evolving our inverters generation by generation together with our customers, for both hybrid and fully electric applications, is how we build trusted, long-term partnerships with the world's leading OEMs.”

The inverter families are developed to support power management across both hybrid and electric drive architectures.

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Automotive cable and shifter manufacturer Remsons Industries has appointed Rahul Prabhakar Desai as its new Chief Executive Officer, effective 3 August 2026. He succeeds Amit Srivastava, whose resignation takes effect at the close of business hours on 4 September 2026.

Desai comes with three decades of experience in automotive manufacturing, including 17 years in executive roles. Before joining Remsons Industries, he was Executive Director and Chief Executive Officer at Pinnacle Industries, overseeing five manufacturing facilities.

He previously served as Chief Executive Officer at CIE India, managing multiple business divisions and ten manufacturing plants, and held leadership positions at GKN Sinter Metals and Inteva Products.

Throughout his career, Desai has managed greenfield plant setups, manufacturing optimisation projects and supply partnerships with original equipment manufacturers. He holds a bachelor's degree in mechanical engineering, a Six Sigma Black Belt certification and has completed executive management training at the Indian Institute of Management Ahmedabad alongside technical programs in Japan and the United States.

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