Sandhar Technologies Ltd
NSE:SANDHAR

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Sandhar Technologies Ltd
NSE:SANDHAR
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Price: 548.9 INR -2.45% Market Closed
Market Cap: 33B INR

Sandhar Technologies Ltd
Investor Relations

Sandhar Technologies Ltd. engages in the manufacture and assembling of automotive components, parts, and systems. The company is headquartered in Gurgaon, Haryana. The company went IPO on 2018-04-02. The company operates across various vehicle segments, including two wheelers, passenger vehicles, tractors and off-highway vehicle, commercial vehicles, as well as non-automotive segments, including medical and electrical equipment. The Company’s portfolio comprises various categories of products, including safety and security systems, such as lock assemblies, mirror assemblies, operator cabins for off-highway vehicles, spindles, and hubs. The company also manufactures other product categories, including wheel assemblies, handlebar assemblies, sheet metal components, fuel pumps, filters and wiper blades, helmets, and operators cabins and structural parts. The company also manufactures diverse parts and accessories for motor vehicles, such as suspension shock absorbers, radiators, exhaust pipes, catalyzers, clutches, steering wheels, steering columns and steering boxes.

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Last Earnings Call
Fiscal Period
Q2 2026
Call Date
Nov 17, 2025
AI Summary
Q2 2026

Strong Revenue Growth: Sandhar Technologies reported consolidated revenue from operations up 29% for Q2 FY '26, with India business revenue rising 33%.

Margin Pressure: Despite revenue growth, consolidated EBITDA margin declined due to project ramp-up costs and one-time impacts from new businesses, but normalized EBITDA margin excluding these effects was stable.

JV Performance: All five joint ventures are now profitable and contributed a combined revenue growth rate of 68.57%.

Overseas Recovery: Overseas business improved operationally with reduced losses and is expected to return to historical margin levels in the second half of the year.

Guidance Maintained: Management reiterated targets of 11% EBITDA margins and 18% ROCE over the next two years, with margin improvement expected as new projects stabilize.

EV & Product Pipeline: EV-related revenues are ramping up, with a full-year target of INR 15 crores; smart locks production has started, and product mix diversification continues.

CapEx & Debt: Annual CapEx expected to be around INR 300 crores for FY '26; debt is elevated due to working capital and project investments but expected to stabilize as expansion projects complete.

Key Financials
Operational EBITDA (India Business)
INR 109 crores
Normalized EBITDA Margin (India Business)
10.44%
EBITDA Margin (Consolidated, as reported)
8.5%
PAT Margin (Consolidated, as reported)
2.3%
JV Revenue (50% share)
68.57%
EV Business Revenue (H1 FY '26)
INR 6.94 crores
Sundaram-Clayton Revenue (H1 FY '26)
INR 198 crores
Sundaram-Clayton EBITDA Margin (H1 FY '26)
4.48%
India Business ROCE (annualized as of 30th September)
16.09%
HMSI Customer Share (Q2 FY '26)
4.2%
CapEx (FY '26E)
INR 300 crores
Debt (as of September)
INR 858 crores
Earnings Call Recording
Other Earnings Calls

Management

Mr. Jayant Davar
Founder, Chairman, CEO & MD
No Bio Available
Mr. Yashpal Jain
CFO & Company Secretary
No Bio Available
Mr. Narender Kumar Dogra
VP of Finance & Accounts
No Bio Available
Mr. Gulshan Ahuja
Deputy Company Secretary & Compliance Officer
No Bio Available
Mr. Niraj Hans
Chief Operating Officer of Sheet Metal & Allied Business
No Bio Available
Mr. Juan Vilar
Managing Director of Sandhar Technologies Barcelona, S.L.
No Bio Available
Mr. Gurvinder Jeet Singh
Senior Advisor & COO of Proprietary Business, SCID
No Bio Available
Mr. Yatendra Singh Chauhan
Senior Advisor and CTO of SAESPL & JV's
No Bio Available
Mr. Ajay Kumar Raghav
Chief Operating Officer of Casting Machining & Tooling Business
No Bio Available
Mr. Venkataraman Srinivasan
Chief Operating Officer of Cabins & Fabrications
No Bio Available

Contacts

Address
HARYANA
Gurgaon
13, Sector-44
Contacts
+911244518900
sandhargroup.com