Sona Group Business Report FY ended Mar. 2018
Recent Years
Business Policy
-In the fiscal year ended March 31, 2018, the Group announced several plans such as customer acquisitions in the electric vehicle market space and the opening of new facilities to strengthen the manufacturing capability of Sona BLW Precision Forgings Limited, a key group company.
Recent Investment in India
-Sona Group informed that it is planning to invest INR 4 billion in Sona BLW Precision Forgings Ltd. (Sona BLW) over the next three to four years, primarily for its India plants and operations. In the next fiscal year 2018, it plans to invest INR 1 billion. The investment funding will help the Sona Group to increase its research and development capability for electric vehicle components.
Acquisition
Sona BLW Precision Forgings Limited
-During the FY ended March 31, 2017, the Sona Group signed an agreement with its Japanese partner Mitsubishi Materials Corporation to acquire a 25 percent stake in Sona BLW Precision Forgings Limited. This action gave the Sona Group complete ownership of the JV company.
Divestitures
JTEKT India Limited (Formerly Sona Koyo Steering Systems Ltd.)
-During the FY ended March 31, 2018 , JTEKT Corporation (JTEKT) completed a share acquisition of Sona Koyo Steering Systems Limited (New Delhi, India) (SKSSL) from its largest shareholder, Sona Autocomp Holding Limited (SAHL). JTEKT acquired 25.23% share from SAHL, and it already had 45.22% shares in SKSSL. JTEKT now hold a 70.45% share of SKSSL.