Sona BLW Precision Forgings Ltd. (Sona Comstar)

Company Profile

■URL

https://sonacomstar.com/

■Address

Village Begumpur Khatola Sector 35, Post box no. 90 Gurugram 122 004 Haryana, India

Business Overview

-Sona Okegawa Precision Forgings Limited was established in 1995. In 2013, the Company was renamed as Sona BLW Precision Forgings Limited. SBPF designs, manufactures and supplies mission-critical automotive systems and components to automotive OEMs across US, Europe, India and China.

-The Company has 9 plants across India, USA, Mexico and China, of which six are located in India. It has three state-of-the-art R&D centres in Gurugram and Chennai.

-In 2017, Sona Group has sold its stake to its Japanese partner JTEKT.

-In 2017,  Blackstone has purchased JM Financial’s stake in sona BLW and further invested primary capital to combine it with Comstar, creating the new combined platform – SONA COMSTAR. Blackstone is the largest shareholder of the company.  

-The following is a list of Group companies which manufacture automotive components: (As of Mar. 31, 2021)
Name of the entity Country Name
Holding Company
Sona BLW Precision Forgings Limited India
Subsidiaries- India
Comstar Automotive Technologies Private Limited India
Subsidiaries- Foreign
Comstar Automotive Hongkong Limited China
Comstar Automotive USA LLC USA

Shareholders

-Listed on Bombay Stock Exchange and National Stock Exchange of India. (As of March 31, 2021)
Category Shareholding Ratio (%)
Sona Autocomp Holding Pvt Ltd (Promoters) 33.1
Singapore Topco Pte. Ltd. (Blackstone Entity) 34.2
Mutual Funds 10.7
Foreign Portfolio Investors 13.7
Non-institution 5.5
Others 2.8
Total 100.0

Products

Sona BLW Precision Forgings Limited
- Inter-axle differential assemblies
- Driveline components for Transmission
- Driveline components for Axle
- Differential assemblies for automobile axles
- Bevel Gears
- E-Axle 1.0
- Mechanical Front Wheel drive
- Case differential assemblies
- Heavy-duty couplings

MSL Driveline Systems Limited
- Propeller Shafts & Components

  • Universal Joint Cross Kits
  • Flange Yokes
  • Centre Bearing Kits
  • Sleeve Yokes
  • Slip Stub Shafts
  • Midshift Shafts
  • Stub Yokes
  • End Yokes
  • Reverse Sleeve Yoke
  • Yoke Shafts

- Double Cardan Shafts

- Automotive Clutches

  • Cover Assemblies
  • Driven Plates

- Steering Columns

  • Steering Universal Joint Cross Kits
  • Sleeve & Spindles
  • Steering Flexible Rubber Couplings

-Axle Shafts

-Coupling Half Yokes

Sona Comstar
Driveline Division
Precision Forced Gears

  • Park Gears
  • Differential Gears
  • Mechanical Differential Lock Gears
  • Electronic Differential Lock Gears
  • Limited Slip Differential Gear
  • Differential Gears with Forged External Splines
  • Inter-Axle Differential Gears
  • Portal Axle Gears
  • Rotavator Gears
  • Cylindrical, Transmission, Spur, Sun & Planetary Gear Sets

Forged Coupling

  • Engaging Sleeves
  • Curvic Coupling

Differential Assembly

  • Open Differential Assembly
  • Preloaded Differential Assembly
  • Sealed Differential Assembly
  • Limited Slip Differential Assembly
  • Final Drive Assembly

e-Drive

  • e-Axle
  • e-Transmission

Electrical Division

  • Starter Motor
  • Alternator
  • Hub-Wheel Motor
  • Drive Motor
  • Belt Start Generator
  • Controller

History

Jan. 1985 Technical Agreement with Koyo Seiko (presently JTEKT) of Japan for Manual Steering Gear and Column.
Feb. 1986 Sona Steering enters a JV agreement with Maruti Udyog Ltd. (presently Maruti Suzuki)
Oct. 1987 Sona Steering Systems Ltd. commences production.
May 1988 Sona Steering Systems Ltd. lists through the issuance of an IPO.
Jul. 1992 Koyo Seiko (presently JTEKT) acquires a 8% stake in Sona Steering Ltd.
Aug. 1994 Sona Steering certified as an approved vendor to Koyo Seiko (presently JTEKT)
Sep. 1994 Incorporation of Mahindra Sona Ltd.
Mar. 1995 Mahindra Sona acquired the MSL Division of M&M.
Jul. 1995 Technical collaboration with Koyo Seiko for Power Steering Gear.
Dec. 1995 Joint Venture company formed with Mitsubishi Materials - Sona Okegawa. Sona Somic Lemforder Components commences production.
May 1997 Koyo Seiko (presently JTEKT) increased its stake to 20.5%.
Nov. 1997 Sona Cold Forgings commenced production.
Oct. 1998 Sona Steering changed its name to Sona Koyo Steering Systems Ltd.
Nov. 1998 Sona Okegawa commenced production of bevel gears for domestic market and exports.
Sep. 2004 Sona Koyo inaugurated 100% EOU in Chennai.
Nov. 2004 Acquired 21% stake in Fuji Autotech France S.A.S.
Jan. 2006 Sona Group started SIXT mobility business as a master franchisee for India.
Jul. 2006 Merger of Sona Somic Lemforder and Sona Cold Forging Ltd.
Nov. 2007 Formation of 4 joint ventures:
1. JTEKT - Sona Automotive India Ltd.
2. Fuji Kiko - Sona Fuji Kiko Automotive Ltd.
3. American Axle - AAM Sona Axle Pvt. Ltd.
4. Arjan Auto - Arjan Stampings Ltd.
Jan. 2008 Acquired ThyssenKrupp Prazisionsschmiede GmbH from ThyssenKrupp Technologies AG.
2011 Sold AAM Sona Axle Private Limited to American Axle & Manufacturing.
2012

Sold stake in Sona Somic Lemforder Components Limited to ZF Friedrichshafen AG.

Sona Koyo Steering Systems Ltd. acquired the remaining 30.08% stake of Sona Stampings Limited (SSL) from Arjan Auto Private Limited, making SSL a wholly-owned subsidiary of the Company.

2013 Sona Koyo Steering Systems Ltd. divested its entire holding of joint venture Fuji Autotech Europe S.A.S. to its joint venture partner, Fuji Kiko Europe S.A.S. for EUR 7.75 million.
Feb. 2017 Sona Group sells its entire stake in Sona Koyo Steering Systems Limited to JTEKT Corporation
Mar. 2017 Sona Group acquires Mitsubishi Materials' entire stake in Sona BLW Precision Forgings Limited
April 2018 Name changed from Sona Koyo Steering Systems Limited to JTEKT India Limited
Aug. 2019 Joint Venture company SONA COMSTAR formed between Sona BLW Precision Forging, Blackstone and Comstar Automotive. This company to create an India centric, EV focused automotive technology platform.
Sep. 2020 Winning Group a.s. (CZ)) acquires the assets of Sona BLW Praezisionsschmiede GmbH and Sona Autocomp Germany GmbH.
Dec. 2021 Opens R&D centre for EV components in Chennai, India

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Note: Figures in brackets ( ) indicate a loss