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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.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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