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Dolat Capital Report
Sandhar Technologies Ltd.'s consolidated revenue de-grew 77% YoY to Rs 1.3 billion, impacted by low production by original equipment manufacturers due to lockdown across the nation.
Consolidated Ebitda loss was at Rs 127 million due to negative operating leverage. The current inventory is below normal and the company to accelerate production ahead of the festive season.
Operations have reached 85-90% of pre-Covid-19 levels.
As Hero Motocorp Ltd. and TVS Motor Company Ltd. account for approximately 52% of overall revenue, we believe Sandhar Technologies would be a key beneficiary of quicker recovery in Two-Wheeler led by rise in rural demand.
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