Standalone Financial Results (Q1 FY27)

Income Statement Highlights (Figures in ₹ Million)

  • Revenue from operations: ₹9,717.04 million
  • Total expenses: ₹6,960.85 million
  • Cost of materials consumed: ₹5,368.91 million
  • Employee benefits expense: ₹1,022.16 million
  • Finance costs: ₹209.10 million
  • Depreciation and amortization expense: ₹60.19 million
  • Other expenses: ₹671.05 million
  • Profit before exceptional items and tax: ₹2,756.21 million
  • Exceptional items: ₹0 (compared to ₹91.74 million in Q1 FY26)
  • Profit before tax: ₹2,756.21 million
  • Tax expense: ₹555.15 million
  • Current tax: ₹435.30 million
  • Tax related to previous years: ₹119.85 million
  • Deferred tax charge: ₹0
  • Profit for the period: ₹2,201.06 million
  • Other comprehensive income: ₹178.38 million
  • Total comprehensive income: ₹2,379.44 million

Capital Structure

  • Paid-up equity share capital: ₹6,220.35 million (Face value: ₹10 per share)
  • Total reserves: Not quantified in disclosure

Consolidated Financial Results (Q1 FY27)

Income Statement Highlights (Figures in ₹ Million)

  • Revenue from operations: ₹13,012.01 million
  • Total income: ₹13,360.66 million
  • Foreign exchange gain (net): ₹91.69 million
  • Other income: ₹256.96 million
  • Total expenses: ₹10,951.24 million
  • Cost of materials consumed: ₹6,798.56 million
  • Changes in inventories: (₹298.45) million
  • Employee benefits expense: ₹1,288.42 million
  • Finance costs: ₹104.77 million
  • Depreciation and amortization expense: ₹768.81 million
  • Other expenses: ₹2,289.13 million
  • Profit before exceptional items and tax: ₹2,409.42 million
  • Exceptional items: ₹0 (compared to ₹91.74 million in Q1 FY26)
  • Profit before tax: ₹2,409.42 million
  • Tax expense: ₹624.29 million
  • Current tax: ₹512.28 million
  • Deferred tax charge: ₹112.01 million
  • Profit for the period: ₹1,785.13 million
  • Profit attributable to owners of parent: ₹1,804.68 million
  • Profit attributable to non-controlling interests: (₹19.55) million
  • Other comprehensive income: ₹214.83 million
  • Total comprehensive income: ₹1,999.96 million
  • Total comprehensive income attributable to owners: ₹2,019.29 million

Earnings Per Share

  • Basic EPS: ₹2.90 (not annualized)
  • Diluted EPS: ₹2.90 (not annualized)

Capital Structure

  • Paid-up equity share capital: ₹6,220.35 million (Face value: ₹10 per share)
  • Total reserves: ₹53,610.75 million

Significant Notes to Financial Results

1. Accounting Standards and Approval

The financial results were prepared in accordance with Indian Accounting Standards (Ind AS) and reviewed by the Audit Committee and approved by the Board of Directors on July 23, 2026. The statutory auditor, Walker Chandiok & Co LLP, issued an unmodified review report.

2. Acquisition of Railway Business

The Company completed acquisition of the Railway Business of Escorts Kubota Limited on June 01, 2025, as a going concern on a slump sale basis for a consideration of ₹16,426.32 million pursuant to the Amended and Restated Business Transfer Agreement dated February 10, 2025.

3. Exceptional Items

No exceptional items were recorded in Q1 FY27. In Q1 FY26, exceptional items of ₹91.74 million represented costs incurred in relation to various acquisition opportunities.

4. Employee Stock Options and Performance Shares

  • Granted 100,000 Employee Stock Options on June 16, 2026, at fair market value of ₹596.35 per share under Sona Employee Stock Option Plan 2023
  • Allotted 170,747 equity shares at face value to the Managing Director and Group CEO on May 05, 2026, based on performance metrics achieved in FY 2025-26 under Sona Performance Share Plan 2025

5. Joint Venture with DENSO Corporation

On July 22, 2026, the Company signed definitive agreements with DENSO Corporation Japan to form two Joint Ventures:

  • JV 1: 51:49 equity ownership (DENSO:SONA) for high voltage liquid cooled EV traction motors and controllers for 4-wheelers and larger vehicles
  • JV 2: 51:49 equity ownership (SONA:DENSO) for air cooled EV traction motors and controllers for 2-wheelers and 3-wheelers

Pursuant to these agreements, the Company will slump sell its existing EV Motors and controllers business in its 100% subsidiary at fair market value. DENSO will buy 49% equity stake in this subsidiary at an Enterprise Value of ₹17,500 million. Both JV partners will receive royalty payments from their majority-owned joint ventures.

6. Dividend Declaration

Shareholders approved a final dividend of ₹1.80 per equity share (face value ₹10 each) for FY26 at the Annual General Meeting held on July 15, 2026.

7. Subsidiary Dividend

The Company received dividend of ₹594.63 million from one of its wholly owned subsidiaries on June 19, 2026.

8. Business Segment

The Company operates in a single reportable business segment: "Mobility components, systems and sub-systems".

9. Auditor's Report on Consolidated Results

Walker Chandiok & Co LLP's review report noted that they did not review the financial results of five subsidiaries whose financial information reflects:

  • Total revenues: ₹178.61 million
  • Total net loss after tax: ₹29.75 million
  • Total comprehensive loss: ₹29.27 million

These subsidiaries' results were reviewed by other auditors and relied upon in the consolidated financial statements.

List of Subsidiaries Included in Consolidated Results

1. Comstar Automotive Technologies Services Private Limited

2. Comstar Automotive USA LLC

3. Comstar Automotive Hongkong Limited

4. Comestel Automotive Technologies Mexicana Ltd

5. Comstar Automotive (Hangzhou) Co., Ltd

6. Comenergia Automotive Technologies Mexicana, S. DE R.L. DE C.V

7. Comestel Automotive Technologies Mexicana, S. DE R.L. DE C.V

8. Comstar Hong Kong Mexico No. 1, LLC

9. Sona Comstar eDrive Private Limited

10. Sona BLW eDrive Mexicana, S.A.P.I. DE C.V.

11. Novelic d.o.o. Beograd

12. Nirsen SRL

13. Novelic ESC DOOEL SKOPJE

14. Nirsen D.O.O

15. Novelic GMBH

16. Novelic India Private Limited (incorporated November 28, 2025)