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Sandhar Technologies (SANDHAR) investor relations material

Sandhar Technologies Q2 25/26 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q2 25/26 earnings summary17 Nov, 2025

Executive summary

  • Consolidated revenue grew 29% year-over-year in Q2 FY26, with PAT up 246% and strong contributions from the India business.

  • Board approved unaudited financial results for Q2 and H1 FY26, with no material misstatements found by auditors.

  • All five joint ventures are PAT positive and on a growth trajectory, contributing 68.57% of revenue on an attributable basis.

  • Commercial invoicing for EV battery chargers and motor controllers began, with INR 6.4 crore revenue in H1 and a full-year target of INR 15 crore.

  • One-time gain of INR 34 crore from land sale and asset disposals contributed to other income.

Financial highlights

  • Q2 FY26 consolidated revenue: ₹1,270.37 Cr (up 29% YoY); EBITDA: ₹155.38 Cr (up 48.5% YoY); PAT: ₹40.94 Cr (up 246% YoY).

  • H1 FY26 consolidated revenue: ₹2,360.46 Cr (up 24% YoY); EBITDA: ₹200.49 Cr (up 9% YoY); PAT: ₹61.24 Cr (down 11% YoY).

  • India business Q2 revenue up 33% YoY; PAT up 138% YoY; overseas business faced margin pressure and negative EBT.

  • Standalone Q2 FY26 revenue: ₹80,502.52 lacs; consolidated revenue: ₹1,27,037.37 lacs; standalone PAT: ₹7,458.36 lacs; consolidated PAT: ₹7,337.59 lacs.

  • EBITDA margin improved due to higher other income from asset sale.

Outlook and guidance

  • Management expects a stronger second half, with Q3 and Q4 anticipated to outperform due to festive demand and new orders.

  • Overseas business margins expected to recover, targeting break-even in Q4 and a return to historical 12.5%-13% margins.

  • India business margins projected to normalize at 10.44% in FY26, with a target of 11% EBITDA margin by FY27.

  • ROCE target set at 18% pre-tax in the medium term, up from 16.09% annualized as of September 2025.

  • Board declared and paid a final dividend of ₹3.50 per equity share (35%) as approved in the AGM.

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Frequently asked questions

Sandhar Technologies Limited is an India-based company specializing in the manufacture of automotive components and systems. The company's product portfolio includes locking systems, mirrors, handles, sheet metal components, and other safety and security-related parts. Sandhar Technologies serves a diverse range of automotive segments, including two-wheelers, passenger vehicles, commercial vehicles, and off-road vehicles, catering to domestic and international markets. The company is headquartered in Gurugram, India, and its shares are listed on the NSE and BSE.

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