Sandhar Technologies Limited

Sandhar Technologies Limited

₹ 586 10.53%
21 May - close price
About

Sandhar Technologies Ltd and its joint ventures are primarily engaged in the manufacturing and assembling of automotive components for the automotive industry in India.[1]

Key Points

Business Profile[1]
Sandhar Technologies Limited (STL) is an Indian auto-ancillary company engaged in the design, manufacture and supply of automotive components and systems. The company caters primarily to the 2-wheeler, passenger vehicle and off-highway vehicle (OHV) segments. It operates a diversified product platform covering safety, access, vision, body and electromechanical systems, supplying to OEMs in India and overseas

  • Market Cap 3,521 Cr.
  • Current Price 586
  • High / Low 604 / 386
  • Stock P/E 19.5
  • Book Value 218
  • Dividend Yield 0.60 %
  • ROCE 17.4 %
  • ROE 14.7 %
  • Face Value 10.0

Pros

  • Company has reduced debt.
  • Company has delivered good profit growth of 22.7% CAGR over last 5 years

Cons

  • Company has a low return on equity of 13.0% over last 3 years.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026
595 644 684 695 693 674 741 740 759 728 805 737 774
544 590 625 625 623 618 670 664 684 671 731 668 706
Operating Profit 51 54 59 69 70 57 70 76 75 57 74 69 69
OPM % 9% 8% 9% 10% 10% 8% 9% 10% 10% 8% 9% 9% 9%
6 3 3 2 -2 5 9 3 10 9 46 4 16
Interest 4 3 3 3 5 5 5 5 6 6 6 5 5
Depreciation 21 21 23 22 24 23 24 25 25 25 20 23 22
Profit before tax 33 32 36 47 39 34 50 49 53 35 95 45 57
Tax % 25% 27% 23% 28% 31% 27% 27% 28% 19% 26% 21% 27% 19%
25 24 28 34 27 25 37 35 43 25 75 33 46
EPS in Rs 4.09 3.92 4.60 5.59 4.54 4.10 6.11 5.85 7.15 4.22 12.39 5.44 7.70
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Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
1,257 1,291 1,369 1,684 2,037 1,640 1,585 1,941 2,397 2,716 2,913 3,044
1,132 1,162 1,243 1,497 1,816 1,481 1,432 1,775 2,193 2,464 2,636 2,776
Operating Profit 125 129 126 187 221 159 154 166 205 252 277 269
OPM % 10% 10% 9% 11% 11% 10% 10% 9% 9% 9% 10% 9%
1 -2 5 4 5 10 9 4 9 6 26 74
Interest 35 37 36 38 17 13 9 9 16 14 20 21
Depreciation 43 47 48 55 67 76 69 74 84 90 97 91
Profit before tax 48 43 47 98 142 81 85 86 114 154 186 231
Tax % 27% 26% 19% 31% 33% 25% 24% 29% 26% 27% 25% 23%
35 32 38 68 95 61 65 61 84 112 140 179
EPS in Rs 6.81 6.31 7.52 11.25 15.84 10.12 10.84 10.21 13.92 18.65 23.20 29.76
Dividend Payout % 27% 32% 27% 18% 16% 20% 21% 22% 18% 17% 15% 13%
Compounded Sales Growth
10 Years: 9%
5 Years: 14%
3 Years: 8%
TTM: 5%
Compounded Profit Growth
10 Years: 16%
5 Years: 23%
3 Years: 29%
TTM: 36%
Stock Price CAGR
10 Years: %
5 Years: 20%
3 Years: 35%
1 Year: 35%
Return on Equity
10 Years: 11%
5 Years: 11%
3 Years: 13%
Last Year: 15%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Equity Capital 10 51 51 60 60 60 60 60 60 60 60 60
Reserves 240 210 239 563 648 697 747 800 869 967 1,086 1,251
284 282 329 329 114 54 62 263 146 210 282 180
216 221 227 369 357 231 378 338 305 406 430 420
Total Liabilities 750 764 846 1,322 1,180 1,042 1,247 1,462 1,379 1,644 1,858 1,912
404 427 476 533 590 601 602 654 652 674 693 598
CWIP 22 40 22 64 28 22 7 36 14 55 43 10
Investments 32 40 35 49 67 91 114 164 196 231 279 370
293 257 313 676 495 328 523 608 518 683 844 934
Total Assets 750 764 846 1,322 1,180 1,042 1,247 1,462 1,379 1,644 1,858 1,912

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
97 144 74 176 106 193 97 18 247 139 158
-100 -84 -73 -154 -114 -77 -75 -191 -87 -159 -158
24 -60 1 228 -245 -113 -24 173 -160 20 30
Net Cash Flow 21 -1 2 251 -253 2 -2 -1 -0 0 30
Free Cash Flow 6 65 -4 36 10 136 42 -125 194 17 27
CFO/OP 78% 123% 65% 104% 71% 137% 76% 22% 133% 69% 74%

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Debtor Days 47 38 46 51 54 36 80 76 45 54 59 63
Inventory Days 40 39 40 42 38 43 48 44 37 36 41 31
Days Payable 78 79 77 99 82 66 119 78 57 66 61 61
Cash Conversion Cycle 9 -1 9 -6 9 12 10 42 25 23 38 33
Working Capital Days -22 -30 -21 -63 3 10 20 19 24 17 21 41
ROCE % 18% 17% 14% 17% 18% 11% 11% 10% 12% 15% 15% 17%

Insights

In beta
Mar 2013 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Manufacturing Facilities Footprint
Number of Plants

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Annual Capex Incurred
INR Crores
Revenue Contribution - Locking Systems
%
Consolidated Revenue Mix - 2 Wheeler Segment
%
Customer Contribution - Top 10 Customers
%
Revenue Contribution - Aluminum Die Casting (ADC)
%
Consolidated Sales Volume (Major OEMs)
Million Units
Water Intensity
Kl/MT of Produced Goods

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

2 Recently
Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 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%
1.65% 1.35% 1.52% 1.48% 1.61% 0.90% 0.73% 0.69% 0.83% 0.66% 1.16% 0.77%
16.96% 16.96% 16.41% 16.15% 16.31% 16.17% 15.69% 15.70% 15.75% 15.85% 15.88% 17.39%
11.01% 11.30% 11.69% 11.99% 11.69% 12.54% 13.21% 13.23% 13.05% 13.11% 12.58% 11.47%
No. of Shareholders 28,41229,34631,28637,27035,85537,58840,19540,78339,06339,72239,51441,860

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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