The future of
mobility is E.P.I.C.

Mobility as we know it, is undergoing a structural transformation. At Sona Comstar, we are actively gearing up for the E.P.I.C. (Electric, Personalised, Intelligent and Connected) future of mobility. We are strategically investing in research and development to develop innovative solutions and technologies that align with this future.

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INR 26,756 million



INR 6,958 million



INR 3,953 million

Profit after Tax


INR 6,707 million

BEV Revenue
26% of sale of goods


EV programmes
Across 26 different customers

INR 215,000 million

Net Orderbook
77% share from EV


5-Year Revenue CAGR


5-Year Average EBITDA Margin


ROE each year in last 5 years

y-o-y *Excluding exceptional income and one-time tax impact in FY 2022-23

Corporate identity

Leading the way

As a global automotive technology player, we solve complex engineering problems by offering customised solutions to our customers. Our expertise lies in designing, developing and manufacturing highly engineered mission-critical automotive systems and components for automotive OEMs.

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Leading the EV revolution


Manufacturing facilities


R&D centres


Total employees


R&D Employees

Foraying into
Sensors and Software

As the world moves to E.P.I.C. mobility, the importance of sensors and software in a vehicle is increasingly evident, especially in the area of ADAS and autonomous driving.


CAGR of NOVELIC since its inception (Without external equity capital)

USD 43 billion

Projected value of the ADAS sensors market by 2030

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“I am looking forward to welcome NOVELIC to Sona Comstar family. On closing of this acquisition, we would add market-leading in-cabin radar-sensing technology to our technology offering. Increasing vehicle autonomy and automation is an emerging technology revolution in our industry. As we had done with EVs in 2016, we are taking a meaningful early step in the direction of the electrified autonomous vehicle or e-AV”

Vivek Vikram Singh Managing Director and Group CEO

Leaving a mark at Auto Expo

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Entering the high-voltage motor and inverter segment

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Leaving a mark
at Auto Expo

We are pleased to say that we were able to leave a lasting impression as we showcased our latest advancements in automotive technology at the prestigious Auto Expo.

“The automotive components industry is going through an evolution with the emergence of electric, connected and autonomous vehicles. Sona Comstar is at the forefront of developing advanced technologies for safer, smarter, and more efficient vehicles.”

Sunjay Kapur Chairman and Non-Executive Director

Foraying into Sensors and Software

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Entering the high-voltage motor and inverter segment

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Entering the high-voltage
motor and inverter segment

At Sona Comstar, we are committed to innovation and technological excellence. We have signed a technology licensing agreement with Equipmake, the UK-based technology company, to bring next-generation electric powertrains to cars, buses, commercial vehicles and off-road vehicles in India, Thailand and select South Asian markets.

“We are delighted to partner with Equipmake to bring their cutting-edge motors and inverters technologies to India. With Equipmake's advanced technology and Sona Comstar's manufacturing and sales capabilities, we aim to offer our customers high-performance, efficient, cost-effective electrified drivetrain solutions. This is yet another step towards our commitment to offering innovative solutions to drive faster adoption of electric mobility in India and globally.”

Sat Mohan Gupta CEO - Motor Business, Sona Comstar

Foraying into Sensors and Software

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Leaving a mark at Auto Expo

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Chairman's communiqué

Building a globally local organisation

From the very start of our journey, our path and purpose have been one: to create a firm that is rooted in India yet, desired by the world.

Our tryst with technology is what drives us and continues to help us grow and build value for our esteemed shareholders. Their faith is our biggest blessing. Our team is what I am most proud of; their determination to win and their dedication to grow even as the global market slows down are what our grit is all about. And our greatness, If I may add. I am proud of them and utterly grateful too.

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From the MD and CEO’s desk

Making our own future

"We have made significant progress in our biggest strategic priority—to be at the forefront of the electrification of mobility worldwide. Our BEV revenue share rose to 26%, with a 33% growth in absolute revenue, reaching INR 6.7 billion."

Dear Shareholders,
This year has marked a profound transformation for our Company as we transitioned into majority ownership by public shareholders.

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CFO’s review

Fortifying Sustainable Growth

Our organic growth potential embodied in our orderbook requires a continuous allocation of capital for capex and we expect to meet this requirement from our operational cash flows.

Dear Shareholders,
We have had yet another year of great business performance wherein our revenue grew by 26% to INR 26,756 million and EBITDA by 25% to INR 6,958 million. A significant part of our growth in FY 2022-23 came from the start/ramp-up of new programmes in both BEV and Non-BEV segments, underscoring the importance of our orderbook for near to medium-term growth.

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Sunjay KapurChairman and Non-Executive Director

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Vivek Vikram SinghManaging Director and Group CEO

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Rohit NandaGroup CFO

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Key performance indicators

Another record-breaking year

Revenue INR in million

EBITDA INR in million

EBITDA margin %

Profit after Tax INR in million

Gross block INR in million

Net Debt INR in million

R&D investments INR in million

Total employees Nos

Training hours per person Hours/year

CSR spend INR in million

Product portfolio

Ever-expanding portfolio of products

Strategic priorities

at the forefront

With an unwavering focus on our consumers' evolving preferences, we have consistently stayed in tune with the changing landscape. As the demand for electric vehicles (EVs) witnessed a notable surge, we have continuously undertaken proactive measures to introduce new products and boost our production capabilities.

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Improving our global
market significance

Over the years, we have significantly increased our market share through our ability to service the needs and demands of our customers effectively. Our focus on innovation and new technologies has solidified our position as the partner of choice for the automakers worldwide.

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Driving growth
through diversification

We have consistently implemented robust measures to maintain our agility in the face of evolving disruptions within the automotive industry. Through strategic diversification of our portfolio, we have effectively created multiple revenue streams, mitigating the risks associated with dependency on specific products, geographies, or vehicle segments leading us to experience an incredible year.

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Technology and

One of the key success factors for Sona Comstar's unparalleled growth is our focus on technology and innovation. Today, we have the ability to design and manufacture high-power-density EV systems handling high torque requirements with a lightweight design. This ability has enabled our customers to enhance their electric vehicles' range, acceleration and overall efficiency.

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Business model

Geared for sustainable growth

ESG approach

Doing business, responsibly

Our strategic business goals align with our environmental, social, and governance (ESG) strategy, which aids in expressing our vision, guiding our strategy and establishing management's responsibility to investors and external stakeholders.

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Reducing our carbon trail

Environmental stewardship is one of our major priorities. We monitor the environmental footprint of each operational site, guided by compliance with Environmental Management System 14001.

Our facilities prioritise energy, emissions, water, and waste management. This commitment is demonstrated through leadership involvement and oversight by the ESG Committee of the Board, ensuring ESG frameworks are implemented across all operations in India.

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Social – People

Always prioritising our human capital

We place utmost importance on the safety and well-being of our employees and undertake many initiatives in this regard. Within Sona Comstar, we are creating safe, fair, equitable and inclusive working environments where our people can develop and achieve their full potential. It is our priority to promote a diverse and inclusive workplace.

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Social – Community

Creating a lasting impact on the society

On the business front, we are creating a positive impact on the environment by catalysing the EV revolution, but we also ensure we do our bit for the development of the communities we engage with.

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Leaders steering our ship

Corporate governance is of utmost importance at Sona Comstar. Through a robust framework that includes a well-balanced Board of Directors, stringent reporting standards, a comprehensive Code of Conduct, and proactive risk management, we strive to instil trust among stakeholders and ensure responsible decision-making.

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Annual Report 2022-23