Sandhar Technologies Limited

Sandhar Technologies Limited

₹ 703 -1.22%
05 Jun - 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 4,232 Cr.
  • Current Price 703
  • High / Low 745 / 386
  • Stock P/E 21.1
  • Book Value 221
  • Dividend Yield 0.50 %
  • ROCE 14.4 %
  • ROE 16.2 %
  • Face Value 10.0

Pros

  • Company has delivered good profit growth of 28.6% CAGR over last 5 years

Cons

  • Stock is trading at 3.17 times its book value
  • Company has a low return on equity of 13.6% over last 3 years.
  • Company might be capitalizing the interest cost

* 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

Consolidated Figures in Rs. Crores / View Standalone

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
765 829 885 890 918 913 984 974 1,014 1,090 1,270 1,185 1,307
697 756 804 801 820 827 885 879 910 1,008 1,152 1,076 1,178
Operating Profit 68 73 81 89 98 86 99 95 104 82 118 108 129
OPM % 9% 9% 9% 10% 11% 9% 10% 10% 10% 8% 9% 9% 10%
8 3 4 3 5 7 7 5 10 21 39 3 18
Interest 11 11 13 13 14 14 14 14 15 17 17 17 18
Depreciation 33 35 37 40 42 41 42 44 44 50 44 49 50
Profit before tax 32 30 35 39 46 37 50 42 56 36 96 45 79
Tax % 22% 27% 22% 34% 23% 22% 20% 28% 23% 23% 23% 25% 19%
25 22 28 25 36 29 40 30 43 28 73 33 64
EPS in Rs 4.04 3.55 4.54 4.19 5.96 4.83 6.65 4.98 7.08 4.65 12.19 5.56 10.60
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
1,482 1,513 1,611 1,946 2,336 1,943 1,864 2,324 2,909 3,521 3,884 4,852
1,343 1,372 1,466 1,743 2,091 1,757 1,686 2,130 2,663 3,180 3,501 4,414
Operating Profit 139 141 146 203 245 187 177 193 246 341 383 438
OPM % 9% 9% 9% 10% 10% 10% 10% 8% 8% 10% 10% 9%
6 1 7 4 6 10 11 6 11 14 29 80
Interest 41 42 43 43 24 20 16 18 36 52 57 69
Depreciation 52 55 58 68 81 98 94 100 122 154 171 193
Profit before tax 51 45 52 97 145 78 78 81 100 150 185 256
Tax % 25% 25% 20% 32% 34% 27% 26% 31% 27% 27% 23% 22%
38 34 42 66 96 57 58 56 74 110 142 199
EPS in Rs 7.48 6.54 8.07 10.80 15.81 9.45 9.59 9.26 12.12 18.24 23.53 33.01
Dividend Payout % 25% 54% 25% 19% 16% 21% 23% 24% 21% 18% 15% 12%
Compounded Sales Growth
10 Years: 12%
5 Years: 21%
3 Years: 19%
TTM: 25%
Compounded Profit Growth
10 Years: 19%
5 Years: 29%
3 Years: 41%
TTM: 46%
Stock Price CAGR
10 Years: %
5 Years: 23%
3 Years: 36%
1 Year: 37%
Return on Equity
10 Years: 11%
5 Years: 12%
3 Years: 14%
Last Year: 16%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

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 249 222 251 574 659 702 744 799 860 956 1,079 1,273
370 395 460 484 268 283 310 620 666 741 924 1,148
286 296 305 467 475 321 482 497 563 662 727 995
Total Liabilities 916 965 1,067 1,585 1,462 1,367 1,597 1,976 2,150 2,420 2,790 3,476
476 528 595 678 743 831 842 942 1,172 1,336 1,343 1,667
CWIP 40 55 29 72 37 33 15 128 115 76 69 100
Investments 3 4 11 24 39 48 58 53 49 57 61 67
396 377 433 811 642 454 682 853 814 950 1,318 1,642
Total Assets 916 965 1,067 1,585 1,462 1,367 1,597 1,976 2,150 2,420 2,790 3,476

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
100 144 96 188 133 239 124 49 308 275 247 210
-118 -103 -107 -186 -141 -112 -98 -310 -269 -241 -300 -221
20 -41 14 247 -243 -124 -26 260 -37 -7 101 28
Net Cash Flow 2 -0 2 249 -251 3 -1 -2 2 27 48 17
Free Cash Flow -11 37 -10 13 12 153 49 -247 58 42 -59 -71
CFO/OP 80% 113% 72% 101% 76% 141% 81% 35% 136% 91% 78% 60%

Ratios

Consolidated Figures in Rs. Crores / View Standalone

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 46 40 47 50 53 36 77 70 45 47 52 62
Inventory Days 63 65 63 66 58 64 71 67 60 57 63 67
Days Payable 90 91 90 112 94 79 131 100 82 83 81 93
Cash Conversion Cycle 19 14 19 5 17 22 17 37 23 22 34 35
Working Capital Days 24 18 -29 -72 -14 -13 12 3 -2 -10 -14 -11
ROCE % 14% 13% 15% 16% 10% 9% 8% 9% 12% 12% 14%

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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