Sona BLW Precision Forging to invest Rs 99.7 crore to expand Chennai plant

Chennai, July 27

Automotive component maker Sona BLW Precision Forgings Ltd ((Sona Comstar) will expand its plant capacity here at an investment of about Rs 99.7 crore.

According to the company, the Chennai plant capacity will be increased to 600,000 electric vehicle (EV) traction motors (100,000 units each of hub and drive motors) from 400,000 units (hub motor 300,000 units, drive motor 100,000 units).

The company will also set up a new capacity of 500,000 units of printed circuit board assembly by fiscal 2025.

It will fund the project from internal accruals or debt.

For the first quarter of FY24, Sona Comstar had logged a consolidated revenue from operations of about Rs 731.38 crore (against Q1FY23's Rs 742.58 crore) and a net profit of Rs 112 crore (Rs 119 crore).