Sandhar Technologies Ltd. (SANDHAR) AI Stock Analysis

• Market Cap: ₹33.27B
• Dividend Yield: 0.6%
• Average Volume (3M): 13.81K
• Price to Earnings (P/E): 19.1
• Beta (1Y): 1.43
• Revenue Growth: 17.39%
• EPS Growth: 33.63%
• Country: IN
• Employees: 1,662
• Sector: Consumer Cyclical
• Sector Strength: 84
• Industry: Auto - Parts
• EPS (TTM): 12.20
• Shares Outstanding: 60,190,710
• 10 Day Avg. Volume: 28,223
• 30 Day Avg. Volume: 13,806
• PEG Ratio: 0.56
• Price to Book (P/B): 2.03
• Price to Sales (P/S): 0.60
• P/FCF Ratio: -33.40
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 70 Outperform
• Price Target: ₹503.00 ▼(-13.28% Downside)

Sandhar Technologies Ltd. scores well due to strong financial performance and bullish technical indicators. However, the overbought technical conditions and low dividend yield moderate the overall score. Managing leverage and improving cash flow will be key to enhancing future prospects.

Positive Factors

Revenue Growth

Consistent revenue growth indicates strong market demand and effective product strategies, enhancing long-term business sustainability.

Operational Efficiency

Improved margins reflect better operational efficiency, suggesting the company is effectively managing costs and maximizing profitability.

Strong Equity Base

A strong equity base provides financial stability and supports future growth initiatives, reducing reliance on external debt.

Negative Factors

Increasing Leverage

Rising leverage can increase financial risk, potentially impacting the company's ability to invest in growth and manage economic downturns.

Negative Free Cash Flow

Negative free cash flow suggests difficulties in covering capital expenditures, which could strain liquidity and limit strategic investments.

Lower Net Profit Margin

A lower net profit margin indicates cost pressures or financial obligations, which may hinder overall profitability and shareholder returns.

Sandhar Technologies Ltd. Business Overview & Revenue Model

Company Description

Sandhar Technologies Limited, together with its subsidiaries, designs, manufactures, assembles, and sells automotive components in India and Europe. It offers locking systems, hinges and latches, and door handles, as well as vision systems; sheet metal components; zinc, aluminum, and magnesium die casting products; plastic injection molded components; and commercial tooling products, such as plastic molds, and zinc and aluminum PDC dies, as well as painting, plating, and coating solutions. The company also provides operator cabins and structural parts, such as canopies, housings, panels, switchboards, control cabinets, and various type of hi-precision sheet metal components; automotive optoelectronic products, including AVN panels, keyless entry systems, reverse park assist systems, blind spot detection systems, and tire pressure monitoring systems and others; and fuel pumps, starter motors, ACG, oil filters, and wiper blades. In addition, it offers wheel rims and assemblies, clutches, fender assemblies, brake panels, and helmets. The company supplies components to original equipment manufacturers in two wheelers, four wheelers, and passenger and commercial vehicle industries. The company was incorporated in 1987 and is based in Gurugram, India.

How the Company Makes Money

Sandhar Technologies generates revenue through multiple streams, primarily by supplying automotive components to OEMs and the aftermarket. The company's core revenue comes from the production and sale of essential automotive parts like mirrors, locks, and lighting systems, which are sold to various vehicle manufacturers. Additionally, Sandhar has established significant partnerships with major automotive players, enhancing its market presence and driving sales. The company also benefits from its expansion into international markets, further diversifying its customer base and revenue sources. Moreover, Sandhar invests in research and development to innovate and improve its product offerings, which helps in maintaining competitive pricing and meeting the evolving demands of the automotive industry.

Sandhar Technologies Ltd. Financial Statement Overview

Summary

Sandhar Technologies Ltd. demonstrates robust revenue growth and operational efficiency, supported by a solid equity base. However, increasing leverage and negative free cash flow in recent periods highlight areas for improvement. Managing debt levels and maintaining profitability are crucial for sustained financial health.

Income Statement

Sandhar Technologies Ltd. has shown strong revenue growth with a consistent upward trend over the past years, evidenced by a revenue increase from 18,414 million in 2021 to 38,845 million in 2025. Gross profit and EBITDA margins have also improved, reflecting operational efficiency. However, the net profit margin is relatively lower compared to gross and EBITDA margins, suggesting some cost pressures or financial obligations impacting net income.

Balance Sheet

The company's balance sheet reflects a solid equity base with stockholders' equity increasing over the years. However, the debt-to-equity ratio has risen due to increased borrowing, which may pose a risk if not managed carefully. The equity ratio remains stable, indicating a balanced capital structure, but the growing debt warrants attention to avoid potential leverage concerns.

Cash Flow

Cash flow from operations remains positive, though volatile, with notable fluctuations in free cash flow due to varying capital expenditures. The operating cash flow to net income ratio suggests strong cash conversion efficiency. However, the negative free cash flow in recent periods indicates potential challenges in covering capital expenditures with operating cash alone, necessitating careful financial management to maintain liquidity.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	40.62B	38.85B	35.21B	29.09B	23.24B	18.64B
Gross Profit	15.43B	15.00B	3.27B	10.82B	6.97B	6.04B
EBITDA	4.12B	3.83B	3.51B	2.60B	2.12B	1.99B
Net Income	1.41B	1.42B	1.10B	729.69M	557.29M	577.54M
Balance Sheet
Total Assets	0.00	27.90B	24.27B	21.55B	19.75B	15.96B
Cash, Cash Equivalents and Short-Term Investments	822.65M	822.65M	432.78M	126.37M	99.56M	75.07M
Total Debt	0.00	9.24B	7.41B	6.66B	6.14B	3.10B
Total Liabilities	-11.39B	16.51B	14.11B	12.30B	11.12B	7.88B
Stockholders Equity	11.39B	11.39B	10.17B	9.20B	8.59B	8.04B
Cash Flow
Free Cash Flow	0.00	-692.08M	375.91M	512.52M	-2.48B	467.56M
Operating Cash Flow	0.00	2.47B	2.75B	3.08B	486.25M	1.24B
Investing Cash Flow	0.00	-2.90B	-2.39B	-2.48B	-3.11B	-974.03M
Financing Cash Flow	0.00	1.01B	-71.35M	-368.89M	2.60B	-262.33M

Sandhar Technologies Ltd. Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 580.00
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:SANDHAR, the sentiment is Neutral. The current price of 580 is above the 20-day moving average (MA) of 560.44, above the 50-day MA of 550.50, and above the 200-day MA of 484.59, indicating a neutral trend. The MACD of 6.59 indicates Negative momentum. The RSI at 48.11 is Neutral, neither overbought nor oversold. The STOCH value of 56.88 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for IN:SANDHAR.

Sandhar Technologies Ltd. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
MAYURUNIQ	75 Outperform	₹20.76B	13.51	―	1.01%	11.55%	13.57%
SANDHAR	70 Outperform	₹33.27B	19.12	―	0.60%	17.39%	33.63%
LUMAXIND	66 Neutral	₹51.15B	34.26	―	0.62%	26.75%	20.28%
Sector *	61 Neutral	$18.38B	12.79	-2.54%	3.03%	1.52%	-15.83%
TALBROAUTO	61 Neutral	₹16.64B	17.39	―	0.32%	0.74%	-17.90%
RAJESHEXPO	60 Neutral	₹49.72B	37.68	―	―	112.02%	244.77%
RANEHOLDIN	60 Neutral	₹19.36B	22.28	―	2.97%	54.99%	-66.73%

Sandhar Technologies Ltd. Corporate Events

Sandhar Technologies Transfers Equity Shares to IEPF

Sandhar Technologies Limited announced the transfer of equity shares to the Investor Education and Protection Fund (IEPF) Account, as per regulatory requirements. This move is in compliance with the Companies Act, 2013, and aims to ensure proper management of unclaimed shares, potentially impacting shareholder dynamics and company governance.

Sandhar Technologies Releases Investor Call Recording for Q2 FY26

Sandhar Technologies Limited has announced that the audio recording of its recent Investor Conference Call, which discussed the un-audited financial results for the quarter and half-year ending September 30, 2025, is now available on the company’s website. This move is part of the company’s compliance with SEBI regulations, ensuring transparency and accessibility of financial information to stakeholders, which may enhance investor confidence and engagement.