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Sharda Motor Tax Demand Reduced from ₹84.89 Cr to ₹6.11 Cr via IT Appellate Orders
Sharda Motor Industries has received favorable orders from the Commissioner of Income-Tax (Appeals) for six assessment years. The management anticipates that the total outstanding tax demand of ₹84.89 Cr will be slashed to ₹6.11 Cr once the Assessing Officer passes the appeal effect order. The company plans to challenge the remaining ₹6.11 Cr demand at the Income Tax Appellate Tribunal level. This outcome represents a substantial reduction in potential financial liability for the firm.
Key Highlights
Appellate orders received for 6 assessment years covering the period from 2018 to 2025.
Management expects the ₹84.89 Cr tax demand to be reduced by approximately 93% to ₹6.11 Cr.
Company will further contest the balance ₹6.11 Cr demand before the Income Tax Appellate Tribunal.
One assessment year (AY 2022-23) is still pending resolution before the CIT(A).
💼 Action for Investors
Investors should view this as a positive reduction in contingent liabilities that strengthens the balance sheet. Monitor the outcome of the ITAT appeal and the pending AY 2022-23 case for finality.
Sharda Motor Q3 FY26 Revenue Jumps 28% to ₹881.6 Cr; Bags New Orders Worth $40M Lifetime
Sharda Motor Industries reported a strong Q3 FY26 with consolidated revenue growing 28% YoY to ₹881.6 crores, supported by robust demand in the passenger vehicle and tractor segments. The company secured significant new orders in its lightweighting vertical, including a $15 million lifetime value contract for control arms and $25 million in volume increases. Additionally, it bagged North American export orders worth $18.5 million in lifetime value, with SOPs scheduled for FY27. Management is also expanding its footprint with a new ₹20 crore facility in Uttarakhand to meet incremental demand.
Key Highlights
Q3 FY26 Revenue grew 28% YoY to ₹881.6 crores, while EBITDA increased 13% to ₹106.4 crores.
Secured new lightweighting orders with a combined lifetime value of $40 million from leading PV OEMs.
Bagged North American export orders for engines/gensets with an aggregate lifetime value of $18.5 million.
Investing ₹20 crores in a new modular manufacturing facility in Uttarakhand to be operational by FY27.
9-month PAT stood at ₹256 crores, marking a growth over ₹231 crores in the corresponding period last year.
💼 Action for Investors
Investors should monitor the execution of the new $40 million order pipeline and the ramp-up of the Uttarakhand facility, which are key growth catalysts for FY27. The company's strong R&D focus and expansion into lightweighting provide a solid hedge against changing emission norms.
Sharda Motor Q3FY26: Revenue at ₹8,816 Mn, EBITDA at ₹1,064 Mn; Expanding Lightweighting Vertical
Sharda Motor Industries reported a steady Q3FY26 with revenue of ₹8,816 million and EBITDA of ₹1,064 million. The company maintains a dominant 30% market share in the PV and LCV exhaust systems segment and is aggressively expanding its lightweighting vertical. A key strategic move includes a Technical License Agreement with Donghee Industrial to increase suspension content per vehicle from the current ₹2,000-₹8,000 range to a potential ₹6,000-₹18,000. The company is also positioning itself for global exports to the USA and Europe, capitalizing on the 'China+1' strategy.
Key Highlights
Reported Q3FY26 Revenue of ₹8,816 million and EBITDA of ₹1,064 million (~12% margin).
Maintains ~30% value market share in India for PV & LCV exhaust systems and ~12.5% for control arms.
Technical License Agreement with Donghee Industrial (Korea) to triple potential content per vehicle in the suspension portfolio.
Gross Tangible Assets increased to ₹504 crore in FY25, up from ₹355 crore in FY21.
Strong R&D focus with 20 patents filed in the last 4 years and 4 patents already granted.
💼 Action for Investors
Investors should focus on the company's transition into higher-value suspension components and its ability to capture export markets. The significant increase in content per vehicle through the Donghee partnership provides a strong mid-to-long-term growth catalyst.
Sharda Motor Q3 PAT Up 7% to ₹80.1 Cr; New Haridwar Manufacturing Unit Approved
Sharda Motor Industries reported a robust 27.7% YoY revenue growth to ₹881.55 crore for Q3 FY26. Net profit increased by 7.2% YoY to ₹80.13 crore, impacted slightly by a ₹4.46 crore exceptional provision for new labour codes. A key strategic move includes the board's approval to set up a new manufacturing facility in Haridwar, Uttarakhand, to expand existing product capacity. The company also reported favorable tax appeal outcomes for several prior assessment years, reducing regulatory uncertainty.
Key Highlights
Revenue from operations rose 27.7% YoY to ₹881.55 crore in Q3 FY26.
Net Profit (PAT) grew 7.2% YoY to ₹80.13 crore despite exceptional costs.
Approved setting up a new manufacturing unit in Haridwar to increase production capacity.
Exceptional charge of ₹4.46 crore booked for gratuity and leave encashment provisions under new Labour Codes.
9M FY26 Revenue reached ₹2,425 crore, up from ₹2,086.7 crore in the previous year.
💼 Action for Investors
The stock remains a strong play in the auto-ancillary space with healthy revenue growth and proactive capacity expansion. Investors should monitor the margin profile as the new Haridwar unit comes online.
Sharda Motor Q3 PAT Rises 7.2% to ₹80.1 Cr; Announces New Haridwar Manufacturing Unit
Sharda Motor Industries reported a strong 27.7% YoY growth in revenue from operations, reaching ₹881.55 crore for Q3 FY26. Net profit for the quarter increased by 7.2% to ₹80.13 crore, even after accounting for an exceptional charge of ₹4.46 crore related to new labour code provisions. The company is aggressively expanding, with the Board approving a new manufacturing facility in Haridwar, Uttarakhand, to increase existing product capacity. Additionally, the company received favorable tax rulings for assessment years 2014-15 to 2017-18, reducing previous legal contingencies.
Key Highlights
Revenue from operations grew 27.7% YoY to ₹881.55 crore in Q3 FY26 compared to ₹689.99 crore in Q3 FY25.
Net Profit (PAT) for the quarter stood at ₹80.13 crore, up from ₹74.72 crore in the corresponding previous quarter.
Board approved the establishment of a new manufacturing unit in Haridwar, Uttarakhand, to boost production capacity.
Nine-month (9M FY26) revenue reached ₹2,425 crore, a significant jump from ₹2,086.7 crore in 9M FY25.
Exceptional loss of ₹4.46 crore recorded in Q3 due to revised provisions for gratuity and compensated absences under new Labour Codes.
💼 Action for Investors
The strong revenue growth and the announcement of a new manufacturing unit indicate robust demand and future growth potential. Investors should monitor the execution timeline of the Haridwar plant and the impact of the new labour codes on long-term margins.