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Sandhar Tech Q3 FY26: Revenue Up 24%, Existing Business EBITDA Margin Expands to 11.9%
Sandhar Technologies reported a strong Q3 FY26 with consolidated revenue growth of 22% and a 24% increase for the nine-month period. The existing business saw EBITDA margins improve to 11.9% from 10.5%, while annualized ROCE rose significantly to 21.1%. Management highlighted a reduction in overseas losses to INR 8 crores and expects a break-even in Q4 FY26. The company is also seeing traction in its EV segment, with commercial invoicing for battery chargers and motor controllers now fully operational.
Key Highlights
Consolidated revenue grew 22% in Q3 FY26 and 24% for the 9-month period.
Existing business EBITDA margin expanded to 11.9% from 10.5% year-on-year.
Overseas losses narrowed to INR 8 crores from INR 11 crores, with a break-even target for Q4 FY26.
New projects revenue surged to INR 305 crores in the 9-month period from just INR 2.74 crores previously.
Annualized ROCE for existing operations improved to 21.1% compared to 16.3% in the prior period.
💼 Action for Investors
Investors should monitor the promised break-even in overseas operations in Q4 and the continued ramp-up of the high-growth EV component segment. The stock remains a positive play on the recovering Indian auto sector and internal efficiency improvements.
Sandhar Technologies 9M FY26 Consolidated Revenue Up 23.5%, Net Profit Jumps 36.2%
Sandhar Technologies reported a robust consolidated performance for 9M FY26, with revenue growing 23.5% YoY to ₹3,545.10 crore. The company's existing India operations showed strong efficiency, with ROCE improving from 16.3% to 21.1% and EBITDA margins expanding to 11.9%. While domestic new projects are scaling rapidly with revenue reaching ₹305.05 crore, the overseas business remains a challenge, posting an EBT loss of ₹25.81 crore due to global slowdowns. Profitability was also supported by ₹47.77 crore in one-time gains from asset sales and JV exits.
Key Highlights
Consolidated 9M FY26 Revenue grew 23.5% YoY to ₹3,545.10 crore, driven by higher business volumes.
India existing business EBITDA grew 28.8% YoY to ₹343.16 crore with margins improving to 11.9%.
New India projects scaled significantly from ₹2.74 crore to ₹305.05 crore in revenue, with EBITDA turning positive at ₹1.14 crore.
Overseas operations EBITDA declined 22.8% YoY to ₹23.84 crore, impacted by slow ramp-up at the Romania plant.
Other income included one-time gains of ₹34.01 crore from Peenya asset sale and ₹13.76 crore from JV exit.
💼 Action for Investors
Investors should monitor the scaling of new domestic projects and the turnaround of the Romania plant, which currently drags consolidated margins. The strong improvement in domestic ROCE and successful asset monetization are positive indicators of capital discipline.
Sandhar Technologies Q3 Standalone PAT at ₹32.76 Cr; 9M FY26 PAT Grows 37% YoY
Sandhar Technologies reported a standalone revenue of ₹737.04 crore for Q3 FY26, showing a marginal decline from ₹739.74 crore in the same period last year. Standalone Net Profit for the quarter stood at ₹32.76 crore, down from ₹35.20 crore YoY, impacted by a one-time ₹1.78 crore expense related to new Labour Code provisions. Despite the quarterly dip, the 9-month performance remains robust with standalone PAT rising 37% YoY to ₹132.75 crore. Additionally, the company is expanding the scope of its Tamil Nadu unit slump sale to its subsidiary to include land and buildings.
Key Highlights
Standalone Revenue for Q3 FY26 at ₹737.04 crore vs ₹739.74 crore YoY.
Standalone Net Profit for the quarter decreased to ₹32.76 crore from ₹35.20 crore in Q3 FY25.
9-month FY26 Standalone PAT grew significantly to ₹132.75 crore from ₹96.62 crore in the previous year.
Recognized a one-time exceptional expense of ₹1.78 crore due to the notification of new Labour Codes.
Board approved including land and building in the slump sale of the TN Unit-I (Aluminium Die Castings) to its subsidiary, Sandhar Ascast Private Limited.
💼 Action for Investors
Investors should note the strong 9-month growth trajectory despite a flat third quarter. Monitor the impact of the asset restructuring (slump sale) on the consolidated balance sheet and operational efficiency.
Sandhar Technologies Q3 Standalone PAT at ₹32.76 Cr; Revises Slump Sale Terms
Sandhar Technologies reported a standalone revenue of ₹737.04 crore for Q3 FY26, remaining largely flat compared to ₹739.74 crore in the same quarter last year. Net profit for the quarter stood at ₹32.76 crore, a slight decline from ₹35.20 crore YoY, partly impacted by a one-time ₹1.78 crore expense related to new Labour Codes. For the nine-month period ending December 2025, the company showed stronger performance with revenue up 5.4% and PAT rising to ₹132.75 crore, though the latter was boosted by a ₹34 crore asset sale gain in Q2. Additionally, the board has revised the terms of a slump sale of its Aluminium Die Castings unit to a subsidiary to now include land and buildings.
Key Highlights
Standalone Revenue for Q3 FY26 stood at ₹737.04 crore vs ₹739.74 crore YoY.
Standalone Net Profit for Q3 FY26 was ₹32.76 crore, down from ₹35.20 crore in Q3 FY25.
9M FY26 Standalone PAT reached ₹132.75 crore, a significant jump from ₹96.62 crore in 9M FY25.
Recognized an exceptional expense of ₹1.78 crore due to the notification of new Labour Codes affecting employee benefits.
Revised the slump sale of TN Unit-I (Aluminium Die Castings) to its WOS to include land and building assets.
💼 Action for Investors
Investors should note the stable but flat revenue growth in the current quarter and look past the QoQ profit drop which was due to a high base from a one-time asset sale. Monitor the efficiency gains from the internal restructuring of the Aluminium Die Castings unit.