Sharda Motor Industries (535602) Q1 26/27 earnings summary

Executive summary

• Q1 FY27 revenue from operations was ₹101,106.68 lakh, up 34% YoY; consolidated PAT was ₹8,652.80 lakh versus ₹9,993.96 lakh in Q1 FY26.

• Growth priorities span lightweighting, emission adjacencies, exports, temperature-controlled tubes and localization, with execution focused on timely SOPs and ramp-ups.

• Strategy targets growth across products, powertrains and geographies, avoiding reliance on a single vehicle technology.

• The Board approved unaudited standalone and consolidated results for the quarter ended June 30, 2026.

Financial highlights

• Consolidated revenue was ₹1,011.1 crore versus ₹756.2 crore YoY; EBITDA was ₹103.2 crore versus ₹98.4 crore, up 5%.

• Consolidated PAT was ₹8,652.80 lakh versus ₹9,993.96 lakh in Q1 FY26; standalone PAT was ₹8,578.41 lakh versus ₹9,910.27 lakh.

• Consolidated profit before tax was ₹11,500.25 lakh; operating profit before exceptional items and tax was ₹11,425.22 lakh.

• Gross profit was ₹203.9 crore, up 8% YoY; growth reflected a supplier-fire production impact at a key customer and one-time premium raw-material procurement.

• FY26 consolidated revenue was ₹3,396.8 crore, EBITDA ₹418.8 crore and PAT ₹345.4 crore.

Outlook and guidance

• FY27 drivers include full-year lightweighting orders, further program ramp-ups, temperature-controlled tubes, North American export SOPs and supportive domestic OEM volumes.

• Three North American orders have combined annual value of ~$10.7 million and lifetime value of ~$58.5 million, with SOPs expected in Q3 and Q4 FY27.

• An additional North American agriculture-equipment order carries annual value of $2.3 million and lifetime value of $11.6 million; SOP is planned for Q1 FY28.

• Quarterly performance and export revenue timing depend on customer production schedules, SOPs and ramp-ups; new export programs can take a year or longer to reach peak volumes.

• Lightweighting plans include growing control-arm and axle-assembly share, increasing content per vehicle and expanding exports, especially to Europe and the US.