Interesting lines from Sona Comstar FY22 AR π§΅π
No plans to own this business owing to exorbitant valuations. Still, their management's intensity & performance inspires me.
Gratitude to mates on Twitter for bringing this company to my notice.
No plans to own this business owing to exorbitant valuations. Still, their management's intensity & performance inspires me.
Gratitude to mates on Twitter for bringing this company to my notice.
1/ Our focussed R&D has engineered products that provide βmore torque per gramβ, successfully elevating the performance of EVs.
2/ EVs have become a significant part of our portfolio and account for 62% of the net order book. Our dependence on pure ICE is also reducing, going down to 18% from 25% last year.
3/ The automobile sector is also going through a global semiconductor chip shortage. The industry solution is the development of a robust semiconductor manufacturing ecosystem.
4/ The sales of electric cars β Battery Electric Vehicles (BEVs) and Plug-in Hybrid Electric Vehicles (PHEVs) β nearly doubled to 6.6 million in 2021, representing more than 8% of total light-vehicle sales. It is up from 4.0% in 2020 and a noticeable leap from 0.9% in 2016.
5/ The EV market is driven by mass and low-cost mobility segments in India, mainly two- and three-wheelers.
6/ Government policies like differentiated tax policy and localized incentives to promote start-ups will further push electrification in the right direction.
7/ State Governments are also measuring up to the task of promoting e-mobility. 18 states are providing incentives to EV consumers.
8/ Global market share in differential gears: 6.3%
Global market share in starter motors: 4.6%
while they continue to dominate the Indian market for differential gears with 50-90% market share across vehicle categories.
A lot of room to grow globally.
Global market share in starter motors: 4.6%
while they continue to dominate the Indian market for differential gears with 50-90% market share across vehicle categories.
A lot of room to grow globally.
9/ Spent around INR 1,761 million on R&D initiatives over the last three years.
10/ Since the onset of the pandemic in early 2020, the automotive industry has been under enormous pressure, shrinking ~7% in the last two years, while our sales have grown nearly 75% during the same period.
11/ During the year, we were able to acquire 2 of the top 10 global passenger vehicle manufacturers as our customers and are proud to say that as of today, we serve 7 of the top 10 global carmakers.
12/ The company generated INR 445 crore of cash flow from operations, out of which INR 344cr were deployed in capex. The pace of capex spending during the year was slower than the initial plan due to elongated lead times.
13/ We have recently partnered with three technology companies from three countries, each using a different core technology to develop magnet-less motors.
14/ The basis of competition in the industry has shifted from cost leadership and manufacturing excellence to leadership through technology and design excellence, complimented by mass customization, which marks the current competitive frontier.
15/ By 2025, IEA expects global electric vehicle sales to reach ~15 million, accounting for ~15% of global light-vehicle sales by volume.
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