Buy Sona BLW Precision Forgings, target price Rs 628: Jayesh Bhanushali

Jayesh Bhanushali of IIFL has buy call on Sona BLW Precision Forgings with a target price of Rs 628. The current market price of Sona BLW Precision Forgings is Rs 603.75.

Sona BLW Precision Forgings, incorporated in the year 1995, is a Small Cap company (having a market cap of Rs 35312.27 Crore) operating in Auto Ancillaries sector.

Sona BLW Precision Forgings key Products/Revenue Segments include Other Auto Components, Scrap, Export Incentives, Other Services, Other Operating Revenue and Royalty Income for the year ending 31-Mar-2023.


Financials
For the quarter ended 30-06-2023, the company has reported a Consolidated Total Income of Rs 737.53 Crore, down -1.46 % from last quarter Total Income of Rs 748.49 Crore and up 24.95 % from last year same quarter Total Income of Rs 590.24 Crore. Company has reported net profit after tax of Rs 112.04 Crore in latest quarter.

Investment Rationale
The stock has given a flag breakout.

Promoter/FII Holdings
Promoters held 29.76 per cent stake in the company as of 30-Jun-2023, while FIIs owned 31.68 per cent, DIIs 28.2 per cent.