Sandhar Technologies Q3 Results Review - Improving Margin Outlook: Dolat Capital

Dolat Capital Report

Sandhar Technologies Ltd.'s printed fiery performance in Q3. Consolidated revenue grew 23.1% YoY to Rs. 8.89 billion, along with garnering aspired double digit Ebitda margin at 10%, on the back of better capex and capacity utilisation.

While gazing ahead, management continues to be bullish, with outperform industry growth and targets to sustain double-digit margin in near to medium term on the back of new business win and consolidation of plants.

Revenue growth continue to be on strong footing with rise in two wheeler volume), and increasing business from TVS (biggest customer). The better product mix, ramp up of production from sheet metal plants, cost control measures and operating leverage will drive growth ahead.

Moreover, development of new electric vehicle products (Motor controller, DC-DC converter) is in progress, which shall contribute to raising content per vehicle and wallet share.

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