Sona BLW board appoints Jeffrey Mark Overly as chairperson after Sunjay Kapur's death

Mumbai, June 23, 2025: In a key leadership development, Sona BLW Precision Forgings Ltd (Sona Comstar) has announced the appointment of Jeffrey Mark Overly as the non-executive chairperson of the board, following the untimely demise of Sunjay Kapur, who led the company through a transformative growth phase. The board's decision marks a new chapter for one of India’s leading auto component manufacturers.

Leadership Transition at a Critical Juncture

The board of directors met earlier this week and unanimously approved the appointment of Overly, who has served as an independent director on Sona BLW’s board since May 2022. With over 30 years of experience in the global automotive and manufacturing sectors, Overly is expected to bring strategic continuity while steering the company toward its next phase of global growth.

Kapur, who passed away earlier this month, was the driving force behind Sona Comstar’s vision to evolve from a domestic player to a major supplier in the electric vehicle (EV) drivetrain space, with clients across North America, Europe, and Asia.

Board’s Statement and Strategic Intent

In a regulatory filing, the company noted:

“The Board expresses its deepest condolences on the sad demise of Mr. Sunjay Kapur, whose leadership, vision, and commitment were pivotal to Sona BLW’s growth journey. We are confident that Mr. Jeffrey Mark Overly, with his rich industry experience and global outlook, will carry forward this legacy.”

Overly has held leadership positions at global automotive giants such as Ford Motor Company and Delphi Technologies. His expertise spans manufacturing systems, operational excellence, and international business expansion—areas crucial for Sona BLW as it scales up its EV offerings.

Analysts Weigh In

Market experts believe the board’s decision brings stability and strategic clarity.

“This is a well-considered choice. Overly has already contributed significantly to Sona BLW’s board strategy and governance. His global network and operational depth are assets the company will need to navigate a competitive, technology-driven auto market,” said Ravi Kumar, auto sector analyst at Motilal Oswal Financial Services.

Another analyst, Aparna Joshi of Edelweiss Securities, remarked:

“Though the founder’s loss is irreplaceable, the transition has been handled with maturity. Investors should take comfort in the fact that governance continuity has been prioritized.”

Market Reaction and Stock Performance

Following the announcement, shares of Sona BLW closed up 2.7% at ₹631.80 on the NSE, as investors welcomed the board's quick decision to fill the leadership vacuum. The company’s stock has already gained nearly 18% year-to-date, outperforming the Nifty Auto index.

The sentiment was also aided by the company’s recent disclosure of its Q4FY25 results, where it posted a consolidated net profit of ₹108 crore, up 22% YoY, on the back of strong EV segment revenue and operational efficiency.

Global Ambitions and Strategic Roadmap

Under Sunjay Kapur’s leadership, Sona BLW emerged as a critical player in supplying differential assemblies, gears, and motors for EVs globally. The company currently derives over 75% of its revenue from international markets, and nearly 29% from the EV segment.

Overly is expected to strengthen this focus by driving strategic partnerships, product innovation, and manufacturing scale-ups in Europe and North America.

Insiders suggest that Sona BLW may look to deepen its R&D investments in software-defined vehicles and e-axle technologies, areas that Overly has been closely aligned with during his earlier stints.

Investor Outlook: Stability Amid Transition

While the market continues to mourn the passing of a charismatic leader, investor outlook remains largely optimistic.

“Institutional investors are watching Sona BLW closely. If the company can maintain its growth trajectory under Overly’s chairmanship, we expect continued re-rating of the stock. Their EV order book and exports pipeline remain very strong,” said Ritika Deshmukh, portfolio manager at Axis Mutual Fund.

Analysts have placed a 12-month target price of ₹715-740, citing the company’s robust EV revenue CAGR of 30% over the past three years and improving operating margins.

The appointment of Jeffrey Mark Overly marks a significant moment for Sona BLW. While the company pays homage to the legacy of Sunjay Kapur, it also looks forward to a future driven by innovation, globalization, and resilience. With a steady leadership hand and a strong market position, Sona Comstar appears poised to consolidate its presence in the EV component landscape globally.