Sharda Motor Industries (535602) Q4 25/26 earnings summary

Executive summary

• FY26 revenue from operations rose 20% to ₹3,396.8cr; EBITDA increased 6% to ₹418.7cr and PAT rose 10% to ₹345.4cr.

• FY27 priorities include customer launches, lightweighting, exports, emission adjacencies, R&D and customer-aligned capacity.

• Board recommended a final dividend of ₹20 per ₹2-face-value share, subject to shareholder approval.

Financial highlights

• Q4 FY26 revenue was ₹971.8cr, up 30% YoY; EBITDA was ₹112.9cr, up 12%, and PAT was ₹89.4cr, up 7%.

• FY26 gross profit was ₹802.8cr, up 8%; EBIT was ₹441.3cr, up 5%, and EPS was ₹60.17 versus ₹54.86 in FY25.

• FY26 EBITDA margin was 12.3% versus 14.0%; gross margin was 23.6% versus 26.1%, and PAT margin was 10.2% versus 11.1%.

• Consolidated FY26 PBT was ₹458.97cr versus ₹419.97cr in FY25; Q4 operating profit before exceptional items and tax was ₹117.12cr.

• Standalone FY26 revenue was ₹3,396.8cr and profit was ₹341.6cr; standalone EPS was ₹59.50.

Outlook and guidance

• FY27 growth drivers include full-year impact from lightweighting orders, new program SOPs, CV adjacencies, North American export ramp-up and supportive OEM volumes.

• FY27 CapEx guidance is ₹90–110cr for R&D, emission norms and program SOPs; customer-driven facility expansion is additional.

• Lightweighting content per vehicle is targeted to rise to ₹6,000–₹18,000 from ₹2,000–₹8,000 through portfolio expansion and Donghee technology licensing.

• Lightweighting orders could bring the vertical to nearly 3x its FY25 level by FY28; subframes and torsion beams have longer validation and scale-up timelines.