Sandhar Technologies (SANDHAR) Q3 25/26 earnings summary

Executive summary

• Q3 FY26 and 9M FY26 saw robust growth, with consolidated revenue up 23.5% YoY to ₹3,545.10 Cr and net profit up 36.2% YoY to ₹134.84 Cr, driven by higher business volumes and record auto industry sales.

• EBITDA increased 26.7% YoY, with margin stable at 10%; EBIT and EBT rose 37.1% and 42.4% YoY, respectively.

• Un-audited standalone and consolidated financial results for the quarter and nine months ended 31 December 2025 were approved, with statutory auditors issuing an unmodified review opinion.

• Management remains bullish on the outlook for the auto component industry and expects continued momentum into the next fiscal year.

Financial highlights

• Consolidated revenue from operations for Q3 FY26 was ₹1,18,463.76 lacs, up from ₹97,368.74 lacs in Q3 FY25; nine-month revenue was ₹3,54,509.97 lacs, up from ₹2,88,164.11 lacs YoY.

• India operations revenue up 14.5% YoY to ₹2,893.38 Cr; EBITDA up 28.8% YoY with margin improvement to 12%.

• Overseas revenue up 2% YoY to ₹346.67 Cr, but EBITDA down 22.8% and EBT down 48.7% due to global slowdown.

• Net profit for nine months stood at ₹134.84 Cr; losses from overseas and new projects totaled ₹50 Cr, expected to reverse.

• Other income includes one-time gains: ₹34.01 Cr from asset sale and ₹13.76 Cr from JV exit.

Outlook and guidance

• Management expects Q4 and the next fiscal year to show further improvement in margins and profitability, with overseas and new projects turning positive.

• Overseas operations are projected to return to 9%-10% operating margins starting April 2026.

• Focus on scaling new projects, improving overseas efficiency, and expanding customer base in global markets.

• Sundaram business expected to reach 7%-7.5% EBITDA margin in FY27, targeting 10.5% in three years.

• Revenue growth in India operations and new businesses is expected to continue at current rates barring unforeseen events.