Sandhar Technologies Limited (SANDHAR)

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Sandhar Technologies Limited (SANDHAR) · mywealthgrid

About

Sandhar Technologies manufactures auto components and equipment for India's automotive sector within Consumer Discretionary. With a ₹3,851.9 Cr market cap and 9.02% operating margins, it positions as a mid-sized supplier. The company has returned 43.75% over the past year.

Face value: ₹10

Market cap

₹3,394 Cr

P/E

16.3×

P/B

2.5×

Dividend yield

1.3%

ROE

16.1%

ROCE

18.8%

Debt / equity

0.71

OPM

EPS (TTM)

₹34.5

Book value

₹221.5

52-week high

—

52-week low

Key insights

Company research notes and source-linked reviews

Key risks

Operating margins relatively thin at 9.02%; recent quarters ranged 7.6–9.87%, with Q1 FY27 at 7.6–7.7%—verify whether compression reflects pricing pressure, cost inflation, or mix shifts

Share price volatility extreme (52w range ₹408.5–₹734.65, ~79% swing); verify what drove weakness to trough and whether headwinds have reversed

Debt-to-equity 0.71 is moderate; track debt trends to ensure leverage does not spike during auto-cycle downturns

Foreign institutional investors sparse at 2.09% FII (Jun 2026, down from 0.76% Mar 2026); verify whether reflects weak appeal to global capital or sector-wide headwinds

Generated analysis · source review pending

Growth drivers

ROE of 16.07% exceeds typical cost of capital, signalling capital allocation creates value—verify sustainability given industry competition

Operating margins peaked at 9.87% (Mar 2026) and 9.3% (Sep 2025); determine whether margin recovery from Q1 FY27 lows is durable

1-year return of 43.75% from a 52w low of ₹408.5 suggests recovery potential if operational headwinds ease; verify drivers of rebound and sustainability

PE of 18.53 relative to ROE of 16.07% implies modest embedded growth; verify whether earnings acceleration or sector tailwinds could support multiple re-rating

Generated analysis · source review pending

2,097 historical price candles were omitted because the exchange source has not been verified.

₹563.9-3.2%1Y

Quick read

rule-based

Pros

+Profit CAGR of 28% over the last 5 years
+Revenue CAGR of 21.1% over the last 5 years
+High promoter holding of 70.4% with no pledge

Cons

No red flags triggered.

Research score

Structured signal from quality, growth, valuation and momentum.

70/100

Business quality: 39
Growth: 94
Valuation: 78

Revenue & net profit

₹ crore, by fiscal year

RevenuePAT

Margins

% of revenue, by fiscal year

OPMPAT margin

Peers

Comparable companies from the narrowest available industry classification.

Screen this industry Compare top 5 side-by-side

Company	Mkt Cap	EV	Revenue	EBITDA	OPM	PAT	NPM	ROCE	ROE	WC Days
Samvardhana Motherson International LimitedMOTHERSONMOTHERSON	₹1,65,731 Cr	₹1,81,626 Cr	₹1,31,135 Cr	₹12,541 Cr	9.4%	₹4,380 Cr	3.2%	12.6%	10.2%	-26
Bosch LimitedBOSCHLTDBOSCHLTD	₹1,34,166 Cr	₹1,34,166 Cr	₹21,088 Cr	₹2,832 Cr	13.2%	₹2,363 Cr	13.8%	21%	19.4%	13
Bharat Forge LimitedBHARATFORGBHARATFORG	₹89,644 Cr	₹96,518 Cr	₹17,543 Cr	₹2,963 Cr	17.4%	₹706 Cr	6.5%	17.9%	11.5%	136
Uno Minda LimitedUNOMINDAUNOMINDA	₹64,160 Cr	₹66,698 Cr	₹20,725 Cr	₹2,280 Cr	11.5%	₹1,202 Cr	6.5%	19.3%	19.1%	37
Schaeffler India LimitedSCHAEFFLERSCHAEFFLER	₹60,732 Cr	₹60,787 Cr	₹10,505 Cr	₹1,917 Cr	18.2%	₹1,253 Cr	11.9%	27.3%	20.2%	68
Sona Blw Precision Forgings LimitedSONACOMSSONACOMS	₹50,071 Cr	₹50,314 Cr	₹4,935 Cr	₹1,207 Cr	24.7%	₹686 Cr	14.1%	14.6%	11%	121
Tube Investments Of India LimitedTIINDIATIINDIA	₹45,302 Cr	₹45,695 Cr	₹23,754 Cr	₹2,260 Cr	9.9%	₹607 Cr	4.9%	15.4%	9.6%	41
Endurance Technologies LimitedENDURANCEENDURANCE	₹36,602 Cr	₹37,928 Cr	₹15,592 Cr	₹2,058 Cr	13.5%	₹970 Cr	6.5%	18.5%	15.2%	-6
Exide Industries LimitedEXIDEINDEXIDEIND	₹34,803 Cr	₹35,896 Cr	₹18,829 Cr	₹1,954 Cr	10.4%	₹932 Cr	4.8%	8.9%	6.1%	42
Dhoot Transmission LimitedDHOOTTRANSDHOOTTRANS	₹29,518 Cr	₹30,359 Cr	₹4,525 Cr	₹711 Cr	15.7%	₹397 Cr	8.8%	30.8%	23.1%	69
Craftsman Automation LimitedCRAFTSMANCRAFTSMAN	₹26,897 Cr	₹30,238 Cr	₹8,717 Cr	₹1,357 Cr	15.3%	₹465 Cr	4.8%	16.1%	12.5%	74
Sansera Engineering LimitedSANSERASANSERA	₹26,686 Cr	₹27,144 Cr	₹3,753 Cr	₹696 Cr	18.1%	₹351 Cr	9.3%	14.7%	11.1%	98

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Financials

Reported profit and loss, balance sheet, cash flow and growth history.

Annual Quarterly

Consolidated Standalone

Consolidated figures · ₹ crore

₹ Cr	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	1,943	1,864	2,324	2,909	3,521	3,885	4,852
COGS	1,114	1,092	1,416	1,827	2,149	2,384	3,059
Gross profit	830	771	908	1,082	1,372	1,500	1,793
	643	583	702	833	1,032	1,117	1,355
	187	188	206	249	341	383	438
OPM %	9.6%	10.1%	8.9%	8.6%	9.7%	9.9%	9%
Depreciation	98	94	100	122	154	171	193
Interest	20	16	18	36	52	57	69
	10	-0	-7	9	15	29	80
Profit before tax	78	78	81	100	150	185	256
Tax	21	20	26	27	40	43	57
Tax %	27%	25.9%	31.3%	26.7%	26.6%	23.3%	22.3%
	57	58	56	74	110	142	199
PAT margin %	2.9%	3.1%	2.4%	2.5%	3.1%	3.7%	4.1%
EPS (₹)	9.5	9.6	9.3	12.2	18.3	23.5	33
EPS adjusted (₹)	—	9.6	9.3	12.1	18.2	23.5	33
	21.1%	23.4%	24.2%	20.5%	17.7%	14.9%	12.1%
Annual report	Annual report for Mar 2020	Annual report for Mar 2021	Annual report for Mar 2022	Annual report for Mar 2023	Annual report for Mar 2024	Annual report for Mar 2025	—

₹ Cr	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity capital	60	60	60	60	60	60
Reserves	744	799	860	956	1,079	1,273
Minority interest	4	4	4	—	—	—
	221	521	547	625	821	948
	567	594	683	786	829	1,194
Total equity & liabilities	1,596	1,978	2,155	2,427	2,790	3,476
	842	942	1,172	1,336	1,343	1,652
CWIP	15	89	95	62	65	100
Investments	58	53	49	57	61	67
	681	894	839	971	1,321	1,656
Total assets	1,596	1,978	2,155	2,427	2,790	3,476

Segment results

As reported in NSE results XBRL. Segment result is before tax and finance costs. ROCE uses that annual result divided by segment assets less liabilities.

Source XBRL ↗

Latest reported period · 31 Mar 2026 · ₹ crore

Segment	Revenue	Result	Assets	Liabilities	Capital employed	ROCE %
India	4,383.84	327.18	2,676.99	1,390.17	1,286.82	25.43
Overseas	468.25	0.12

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Ratios

Annual operating, return, leverage and working-capital ratios.

Consolidated Standalone

Consolidated figures

Ratio	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	42.7%	41.4%	39.1%	37.2%	39%	38.6%	36.9%
EBITDA margin %	10.1%	10.1%	8.9%	8.6%	9.7%	9.9%	9%
EBIT margin %	5%	5.1%	4.6%	4.4%	5.3%	5.5%	5%
PAT margin %	2.9%	3.1%	2.4%	2.5%	3.1%	3.7%	4.1%
Working capital
Receivable days	—	77	70	45	47	52	62
Inventory days	—	71	67	60	57	63	67
Payable days	—	131	100	82	83	81	93
NWC days	—	17	37	22	21	34	35
Leverage
Current ratio	—	1.12	1.04	0.99	0.95	0.92	0.94
Debt to EBITDA	—	1.17	2.53	2.2	1.83	2.14	2.17
Debt to equity	—	0.27	0.61	0.59	0.61	0.72	0.71
Interest coverage	5.3	6.6	6.4	3.9	3.8	4	4.6
Asset turnover	—	1.17	1.17	1.35	1.45	1.39	1.4
Return ratios
Return on assets %	—	3.6%	2.8%	3.4%	4.5%	5.1%	5.7%
Return on capital employed %	—	10.5%	10.2%	10.9%	14%	15.1%	18.8%
Return on equity %	—	7.2%	6.5%	8%	10.8%	12.4%	14.9%

Derived from reported annual statements. ROCE uses EBIT over capital employed (total assets less current liabilities). Day counts average the opening and closing balance; receivables turn on revenue, inventory and payables on cost of goods sold.

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Shareholding

Quarterly ownership, named holders, insider transactions and disclosed deals.

Quarterly Annual

Every quarter filed · % of equity

Holder (%)	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	70.38%	70.38%	70.38%	70.38%	70.38%	70.38%	70.38%	70.38%	70.38%	70.38%	70.38%	70.38%
	1.35%	1.51%	1.48%	1.61%	0.9%	0.72%	0.69%	0.83%	0.66%	1.16%	0.76%	2.09%
	16.96%	16.41%	16.15%	16.31%	16.16%	15.69%	15.7%	15.75%	15.86%	15.88%	17.39%	14.82%
Government	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
	11.31%	11.7%	11.99%	11.7%	12.56%	13.21%	13.23%	13.04%	13.1%	12.58%	11.47%	12.71%
No. of shareholders	—	—	—	—	—	—	—	—	39,722	39,514	41,860	45,879

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F&O

Current futures and options contracts with compact option-chain pages.

Not in the F&O segment

Only about 210 stocks have listed futures and options. Contracts appear here for those, refreshed after each close.

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Fund holders

Mutual-fund schemes that disclosed a holding in the company.

Portfolio month

Schemes holding

across 8 fund houses

Held by these funds

11.11%

of the company's equity

All mutual funds

14.73%

shareholding pattern, Jun 2026

Portfolios as of

August 2026

compared with July 2026

8 schemes · 8 fund houses

		Shares
SMALL CAP FUND	Nippon India Mutual Fund	24.83 L	162.27	0.2%	4.124%	-0
Small Cap Fund	DSP Mutual Fund	18.36 L	120.02	0.55%	3.05%	-0
Portfolio of Kotak Small Cap Fund	Kotak Mahindra Mutual Fund	17.29 L	113.01	0.57%	2.872%	-0
Dividend Yield FundNEW	ICICI Prudential Mutual Fund	3.99 L	26.09	0.39%	0.663%	—
IB60-Groww Small Cap Fund	Groww Mutual Fund	96,231	6.29	0.82%	0.16%	+7,360
Small Cap Fund	Quantum Mutual Fund	73,326	4.79	1.81%	0.122%	-0
(LIVE SCHEMES)	ITI Mutual Fund	71,626	4.68	1.01%	0.119%	+29,056
(Investment Manager for Motilal Oswal Mutual Fund)	Motilal Oswal Mutual Fund	54	0	0.01%	0%	-0

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Documents

Annual reports, exchange filings, offer documents, ratings and earnings-call material.

Announcements

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Events

Upcoming dates and the company’s corporate-action history.

Loading events…

Announcements

Latest exchange announcements, filings and downloadable documents.

1 month 3 months 6 months 1 year All

22 announcementsExport CSV

28 Sept 2026, 2:12 pmInsider Trading / SAST

Closure of Trading Window

Closure of Trading Window PDF

Loading announcements…

Ratio	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	42.7%	41.4%	39.1%	37.2%	39%	38.6%	36.9%
EBITDA margin %	10.1%	10.1%	8.9%	8.6%	9.7%	9.9%	9%
EBIT margin %	5%	5.1%	4.6%	4.4%	5.3%	5.5%	5%
PAT margin %	2.9%	3.1%	2.4%	2.5%	3.1%	3.7%	4.1%
Working capital
Receivable days	—	77	70	45	47	52	62
Inventory days	—	71	67	60	57	63	67
Payable days	—	131	100	82	83	81	93
NWC days	—	17	37	22	21	34	35
Leverage
Current ratio	—	1.12	1.04	0.99	0.95	0.92	0.94
Debt to EBITDA	—	1.17	2.53	2.2	1.83	2.14	2.17
Debt to equity	—	0.27	0.61	0.59	0.61	0.72	0.71
Interest coverage	5.3	6.6	6.4	3.9	3.8	4	4.6
Asset turnover	—	1.17	1.17	1.35	1.45	1.39	1.4
Return ratios
Return on assets %	—	3.6%	2.8%	3.4%	4.5%	5.1%	5.7%
Return on capital employed %	—	10.5%	10.2%	10.9%	14%	15.1%	18.8%
Return on equity %	—	7.2%	6.5%	8%	10.8%	12.4%	14.9%

2 deals · 21 May 2026 – 21 May 2026

Date	Client	Type	Venue	Side	Quantity	Price	Value
21 May 2026	NK SECURITIES RESEARCH PRIVATE LIMITED	Bulk	NSE	Sell	3,15,528	₹579.36	₹18.28 Cr
21 May 2026	NK SECURITIES RESEARCH PRIVATE LIMITED	Bulk	NSE	Buy	3,15,528	₹579.03	₹18.27 Cr

1–2 of 2

1 / 1

Bulk deals are a client trading over 0.5% of the equity in a session, aggregated across their trades; block deals are single negotiated trades in the exchange’s block window. Each is reported by the exchange it was crossed on, so NSE and BSE rows are separate trades rather than the same trade twice.

Date	Category	Subject	Filing
28 Sept 2026, 2:12 pm	Insider Trading / SAST Closure of Trading Window	Closure of Trading Window	PDF
22 Sept 2026, 8:55 pm	AGM/EGM AGM	Shareholder Meeting / Postal Ballot-Outcome of AGM	PDF
3 Sept 2026, 5:46 pm	Company Update Change in Management	Announcement under Regulation 30 (LODR)-Change in Management	PDF
27 Aug 2026, 12:44 pm	Company Update General	Communication To Shareholders Of Sandhar Technologies Limited ('The Company') Regarding Tax Deduction At Source (TDS) On Dividend	PDF
26 Aug 2026, 1:02 pm	Company Update Newspaper Publication	Announcement under Regulation 30 (LODR)-Newspaper Publication	PDF
25 Aug 2026, 7:40 pm	Company Update General	Intimation Under Regulation 30 Of The SEBI (Listing Obligations And Disclosure Requirements) Regulations, 2015 ("SEBI Listing Regulations") - Physical Dispatch Of Letter To Shareholders	PDF
25 Aug 2026, 6:41 pm	Others Reg. 34 (1) Annual Report	Reg. 34 (1) Annual Report.	PDF
25 Aug 2026, 6:30 pm	Others Business Responsibility and Sustainability Reporting (BRSR)	Business Responsibility and Sustainability Reporting (BRSR)	PDF

₹ Cr	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	124	49	308	275	247	210
	-97	-311	-248	-239	-290	-221
	-26	260	-37	-7	101	28
Net cash flow	0	-3	23	29	58	17
Free cash flow	47	-248	51	38	-69	-89
CFO / Operating profit %	65.7%	23.6%	123.6%	80.7%	64.4%	48%

Sandhar Technologies Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Segment results

Ratios

Shareholding

F&O

Not in the F&O segment

Fund holders

Documents

Announcements

Events

Announcements

Not in the F&O segment

Announcements

Annual reports

Credit ratings

Investor Presentation and earnings call

11

1

Segment results

Compounded sales growth

Compounded profit growth

Return on equity

Europe · revenue

Sandhar Technologies Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Profit & loss

Balance sheet

Segment results

Ratios

Ratio timeline

Shareholding

Quarterly record

F&O

Not in the F&O segment

Fund holders

Documents

Announcements

Events

Announcements

Ratio timeline

Not in the F&O segment

Announcements

Quarterly record

Annual reports

Credit ratings

Investor Presentation and earnings call

Dividends11

Board meetings1

Bulk & block deals

Board and management

Profit & loss

Balance sheet

Segment results

Cash flow

Compounded returns

Compounded sales growth

Compounded profit growth

Return on equity

Europe · revenue

11

1