Earning Call Transcript
SHARDAMOTR · price
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Sharda Motor Industries reported Q4 FY26 consolidated revenue of INR 971.8 crores (+30% Y-o-Y) and full-year FY26 revenue of INR 3,396.8 crores (+20%). EBITDA for the year was INR 419.1 crores (+6%). Revenue mix: CV emissions 44%, PV emissions 43%, suspension 9%. Lightweighting market share increased from 12.5% to 14% in FY26. New export order received from a top 3 global agricultural equipment OEM worth USD 2 million annually (USD 10 million lifetime), with SOP in Q1 FY28. North American engine manufacturer order SOP moved to Q3 FY27. CAFE III norms from April 2027 expected to drive content per vehicle increase of INR 4,000-10,000. FY27 capex guidance set at INR 90-110 crores.
Strong revenue growth driven by new lightweighting and export orders; margin expansion may take time as new SOPs ramp up and working capital requirements increase for export business. Focus remains on execution of order book.