Sona Comstar - Well Placed To Benefit From Global Electrification: Nirmal Bang Initiates Coverage
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Nirmal Bang Report
Sona Comstar Ltd. is a leading supplier of driveline and electrical components for internal combustion engine, hybrid and electric vehicles globally.
The company is among the top 10 players globally in the differential bevel gear (~6% market share in H1 CY21), starter motors (~4.6% market share in H1 CY21) and electric vehicle differential assemblies market (~12.5% market share in H1 CY21).
It has a technological edge in differential gears, which drives its cost advantage and it is now enhancing capabilities in electrical business (research and development spend ~6% of revenue in FY21).
This, we believe, will continue to drive market share gains for Sona Comstar.
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