Sharda Motor Industries Limited has informed the Exchange about Transcript
SHARDAMOTR · price
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Sharda Motor Industries shared the transcript of its Q1 FY26 earnings call held on August 11, 2025. Consolidated revenue for the quarter stood at ₹756.2 crores (up ~10% year-on-year), with gross profit of ₹189.5 crores (up 5%), EBITDA of ₹98.4 crores (up 3%, margin 13%), and PAT of ₹99.9 crores versus ₹76.8 crores in Q1 FY25. PBT of ₹130.1 crores included an exceptional gain of ₹22.4 crores from the sale of idle industrial land at Haridwar. In FY25, the emission control vertical contributed 88% of revenue, followed by suspension at 9%. Management highlighted two new export customer wins (a Japanese construction equipment firm and a heavy industry machinery company), and a notable order from a large US-based engine maker with SOP targeted for early next calendar year. They also flagged TREM V (April 2026) as a potential opportunity but acknowledged likely changes in implementation. The Chakan plant has commenced operations and the company is sitting on cash surplus of over ₹800 crores, with priority deployment toward light-weighting expansion and powertrain-agnostic M&A. Capacity utilization is around 80%.
The transcript confirms steady operational performance with mid-single-digit PAT growth despite a muted PV/LCV environment. New export wins and TREM V optionality are positives, but management's refusal to give firm annual revenue or margin guidance and uncertainty around US tariffs and TREM V may limit near-term upside conviction. Existing shareholders can expect continued focus on light-weighting and dividend payouts while M&A remains a wildcard.