Analysts/Institutional Investor Meet/Con. Call Updates

Date: 31st October, 2026 BSE Ltd. National Stock Exchange of India Ltd. Regd. Office: Floor - 25, Listing Deptt., Exchange Plaza, Phiroze Jeejeebhoy Towers, Bandra Kurla Complex, Bandra (East), Dalal Street, Mumbai-400 001. Mumbai - 400 051 BSE Scrip Code: 543300 NSE Scrip: SONACOMS Subject: - Transcript of Earning Call pertaining to Financial Results for quarter ended on 30th September, 2026. Dear Sir / Madam, Pursuant to Regulation 30 read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find enclosed herewith the transcript of the Earning Call held on Monday, 26th October, 2026 on the financial result of the Company for the quarter and half year ended on 30th September, 2026. The transcript will also available on the website of the Company at https://sonacomstar.com/investor/investor-presentations This is for your information and further dissemination. Thanking you, For Sona BLW Precision Forgings Limited Pankaj Gupta Senior Vice President (Legal), Company Secretary and Compliance Officer Enclosed as above; SONA BLW Precision Forgings Ltd. (Sona Comstar) Q2 FY27 Earnings Conference Call Transcript October 26, 2026 The webcast recording and the presentation referred to in this transcript are available on the website of the Company and can be accessed through the following link: https://sonacomstar.com/investor/investor-presentations Moderator: Ladies and gentlemen, good day and welcome to Sona Costar Q2FY27 Earnings Group Conference Call. Please note all participants lines are in the listen only mode as of now. There will be an opportunity for you to ask questions after the presentation concludes. Please note that this call is being recorded. We request that you place your lines on mute except when asking a question. Some of the statements by the management team in today's conference call may be forward-looking in nature, and we request you to refer to the disclaimer in the earnings presentation for further details. The management will also not be taking any specific customer-related questions or confirm or deny any customer names or relationships due to confidentiality reasons. Please refrain from naming any customer in your question. Now I will hand over the floor to Mr. Kapil Singh, Deputy Head of Research India and lead auto analyst at Nomura. Kapil, please go ahead. Thank you. Kapil Singh: Sorry, I think I was on mute. Yeah, good evening, everyone. To take us through the Q2 results and to answer your questions, we have the entire management team of Sona Comstar. Mr. Vivek Vikram Singh, MD and Group CEO; Mr. Vikram Verma, Full-Time Director and CEO of Driveline Business; Mr. Sat Mohan Gupta, CEO of Motor Business; Mr. Praveen Rao, Group CTO; Mr. Rohit Nanda, Group CFO; Mr. Amit Mishra, Head Railway Business; Ankit Agarwal, Investor Relations and Prateek Sachan, Head Strategy and M&A. Sona Comstar – Q2 FY27 Earnings Call Page 1 of 19 I will now hand over the call to Vivek for his opening remarks and the presentation. Vivek, over to you, please. Vivek Vikram Singh: Thank you, Kapil and welcome, everyone. There are times when everything comes together in perfect synchronicity, this was that quarter. Q2 was almost a perfect quarter for us across all metrics- financial performance, new order wins, technology and new products, cash flow generation, and our total quality management. We delivered our highest ever revenue, EBITDA and PAT. BEV revenue also reached an all-time high, and for the first time, contributed more than half of our automotive revenue. We commercialized 3 new products, the most we have ever done in a single quarter. We also recorded our 3rd highest ever order additions in a single quarter, with wins spanning across almost every major product segment. Last quarter we had outlined, as you'd remember, our ambition to grow 10x over 10 years under our Sona Comstar 2.0 vision. Q2 gives us much higher confidence in our ability to deliver on that ambition. But as always, while talking to our shareholders, let me begin with the challenges. So let me start with addressing the margins upfront. Last quarter, I had spoken about margins improving on cost passed through coming through from customers. However, this quarter, the continued margin pressure has been there, but it's mainly driven by change in product mix. Traction motor demand has significantly exceeded even our own internal expectations. The business has grown almost 50% quarter on quarter. That has obviously pulled down the overall margin percentage a little bit. Inflation was and still is the second factor. The war in West Asia continues to cause pressures with further increases in steel, copper, and oil derivatives. Freight rates have also risen sharply, they've nearly doubled from the previous quarter's level. Strong growth and better operating leverage is what has helped us absorb most of these pressures and continue to at least hold the line on margins. Looking ahead, stronger traction motor demand is changing our mix and broader inflation linked to West Asia remains uncertain. Both these factors are largely beyond our control, which makes near-term predictability a little difficult. However, it is mostly good news because absolute EBITDA continues to improve at a very high clip. So let me return to the positives and there is a lot of positives to talk about this quarter. So let me start first with demand. Demand for EVs continues to accelerate. Our EV business grew by almost unbelievable 129% year on year. In India, strong demand for electric 2 and 3 wheelers was the biggest reason. Sona Comstar – Q2 FY27 Earnings Call Page 2 of 19 This is what drove a very sharp increase in traction motor sales. Globally, the shift towards EVs has supported the strong growth in our EV driveline revenues. And suspension motor, which is our fastest growing product driven by its success in China, is also in an EV customer. So we're seeing growth across products, across markets, and across vehicle segments, and frankly it shows the strength of the EV portfolio that we built. Second, our business development efforts saw many meaningful wins in this quarter. We secured our 3rd highest order wins by value and ended Q2 with the 2nd highest order book in our history. These wins cover almost every major product category like I mentioned, from differential assemblies and gears to traction motors, controllers, starter motors, sensors, as well as railway products. Third, we commercialized 3 new products, our highest ever number in a single quarter. I mean, most companies would count themselves fortunate if they have 3 new products in 3 years, for us this is a quarter. We've introduced a helical limited slip differential, air springs for railways, and rear radar sensors for two-wheelers, and Praveen will talk about these in more detail in his section. Fourth, cash. We delivered our highest ever free cash flow from operations. In just 6 months of this year, we have generated more than 1.5 times the FCFO we generated in the entire FY26. And lastly, and absolutely not the least, I'm particularly proud that our driveline division has won the 2026 Deming Prize for Total Quality Management. Vikram, Balaji and his team have worked towards this for nine long years and improved processes and systems manyfold along the way. So take a bow Vikram, Balaji, wherever you are, and many, many congratulations to all of you. Slide 5 Okay, now let me take you through our Q2 performance. Revenue grew 35% year on year, while EBITDA net profit increased by 23% and 29% respectively. The business has grown quite strongly and well, frankly, ahead of our own expectations, so I want to thank the entire team for delivering this performance. Turning to BEVs. We continue to see electrification growth, with growth accelerating to 129% year on year. For the first time, BEVs contribute more than 50% of our automotive revenue. Even if you look at it sequentially, BEV revenue has g [Showing first 8,000 characters — download PDF for full document]