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Sandhar Technologies Q2 FY27 results: net profit down 23.6% to ₹56.03 crore, revenue up 27.3%
Sandhar Technologies Limited reported consolidated Q2 FY27 revenue of ₹1,618 crore, up 27.3% from Q2 FY26, while EBITDA rose 16.0% to ₹136.93 crore and the EBITDA margin fell 0.8 percentage points to 8.5%. Net profit declined 23.6% to ₹56.03 crore and EPS fell to ₹9.31, after higher operating costs and lower other income.
Key points
- Consolidated revenue was ₹1,618 crore in Q2 FY27, up 27.3% from Q2 FY26 and 17.1% from Q1 FY27.
- EBITDA was ₹136.93 crore, up 16.0% year on year and 30.2% from the previous quarter, while the margin was 8.5%.
- Net profit was ₹56.03 crore, down 23.6% from ₹73.38 crore in Q2 FY26, and basic EPS was ₹9.31.
- Other income fell 82.6% year on year to ₹6.47 crore, while total expenses rose 27.8% to ₹1,551 crore.
- H1 FY27 revenue was ₹2,999.57 crore, up 27.1% from H1 FY26, while PAT was ₹93.31 crore, down 8.0%.
How did Sandhar Technologies perform in Q2 FY27?
Consolidated revenue for the July–September 2026 quarter was ₹1,618 crore, up ₹347.31 crore or 27.3% from Q2 FY26 and ₹235.79 crore or 17.1% from Q1 FY27. EBITDA rose 16.0% year on year to ₹136.93 crore and increased 30.2% from ₹105.19 crore in Q1 FY27. The EBITDA margin was 8.5%, compared with 9.3% in Q2 FY26 and 7.6% in Q1 FY27.
Net profit was ₹56.03 crore in Q2 FY27, down ₹17.35 crore or 23.6% from Q2 FY26 but up ₹18.75 crore or 50.3% from Q1 FY27. Profit before tax was ₹74.31 crore, down 22.3% year on year and up 45.3% from the previous quarter. Basic EPS was ₹9.31, down from ₹12.19 a year ago and up from ₹6.19 in Q1 FY27. On a standalone basis, revenue was ₹792.14 crore and PAT was ₹38.89 crore.
| ₹ crore | Q2 FY27 | Q1 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 1,618 | 1,382 | 1,270 | +27.3% | +17.1% |
| Other income | 6.47 | 12.14 | 37.29 | −82.6% | −46.7% |
| Total expenses | 1,551 | 1,344 | 1,213 | +27.8% | +15.4% |
| EBITDA | 136.93 | 105.19 | 118.09 | +16.0% | +30.2% |
| EBITDA margin | 8.5% | 7.6% | 9.3% | −0.8 pp | +0.9 pp |
| Profit before tax | 74.31 | 51.14 | 95.68 | −22.3% | +45.3% |
| Tax | 18.28 | 13.86 | 22.31 | −18.1% | +31.9% |
| Net profit | 56.03 | 37.28 | 73.38 | −23.6% | +50.3% |
| EPS (₹) | 9.31 | 6.19 | 12.19 | −23.6% | +50.4% |
EBITDA here is revenue from operations less operating costs (total expenses excluding finance costs and depreciation): before other income and exceptional items. Growth is shown only when both figures are positive. Source: Company's results filing (XBRL).
What changed in Sandhar Technologies' costs and profit?
Total expenses rose 27.8% to ₹1,551 crore in Q2 FY26, led by cost of materials, which increased 32.7% to ₹1,095 crore. Employee cost rose 28.0% to ₹201.67 crore, depreciation increased 19.2% to ₹52.06 crore, and other expenses rose 5.8% to ₹201.43 crore. Finance costs increased 4.5% to ₹18.17 crore.
Other income fell 82.6% from ₹37.29 crore in Q2 FY26 to ₹6.47 crore in Q2 FY27. The quarter included an exceptional gain of ₹1.14 crore, compared with a ₹1.38 crore gain in Q2 FY26. Tax expense was ₹18.28 crore, down 18.1% from ₹22.31 crore, but the lower other income and higher expenses coincided with a decline in profit before tax to ₹74.31 crore from ₹95.68 crore.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 1,095 | 825.50 | +269.73 | +32.7% |
| Employee cost | 201.67 | 157.55 | +44.12 | +28.0% |
| Finance costs | 18.17 | 17.39 | +0.78 | +4.5% |
| Depreciation | 52.06 | 43.69 | +8.37 | +19.2% |
| Other expenses | 201.43 | 190.32 | +11.11 | +5.8% |
| Total expenses | 1,551 | 1,213 | +337.62 | +27.8% |
| Other income | 6.47 | 37.29 | −30.82 | −82.6% |
| Tax | 18.28 | 22.31 | −4.03 | −18.1% |
| Exceptional items | +1.14 (gain) | +1.38 (gain) |
Source: Company's results filing (XBRL).
How did the first half of FY27 go?
In the first half of FY27, consolidated revenue was ₹2,999.57 crore, up ₹639.11 crore or 27.1% from ₹2,360.46 crore in H1 FY26. Total income rose 24.9% to ₹3,018.18 crore. Profit before tax declined 5.0% to ₹125.45 crore, while PAT fell 8.0% to ₹93.31 crore from ₹101.39 crore.
H1 FY27 basic EPS was ₹15.5, down from ₹16.84 in H1 FY26. The filing states that the results were unaudited, prepared under Ind AS 34, reviewed by the Audit Committee and approved by the Board on 5 November 2026.
| ₹ crore | H1 FY27 | H1 FY26 | Change |
|---|---|---|---|
| Revenue from operations | 3,000 | 2,360 | +27.1% |
| Profit before tax | 125.45 | 132 | −5.0% |
| Net profit | 93.31 | 101.39 | −8.0% |
| EPS (₹) | 15.50 | 16.84 | −8.0% |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
At 30 September 2026, total assets were ₹3,892.09 crore, up from ₹3,475.68 crore at 31 March 2026, and total equity was ₹1,403.37 crore against ₹1,333.13 crore. Borrowings increased to ₹999.17 crore from ₹948.15 crore, while cash fell to ₹25.27 crore from ₹51.09 crore. Inventories rose to ₹657.91 crore from ₹559.84 crore, trade receivables to ₹986.78 crore from ₹823.06 crore, and trade payables to ₹1,019.29 crore from ₹782.06 crore.
H1 FY27 operating cash flow was ₹168.54 crore, compared with ₹94.78 crore in H1 FY26. Investing cash flow was negative ₹188.86 crore against negative ₹79.37 crore, and financing cash flow was negative ₹0.88 crore against negative ₹35.9 crore. Capital expenditure was ₹191.05 crore, compared with ₹170.07 crore in the year-ago period.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 3,892 | 3,476 |
| Total equity | 1,403 | 1,333 |
| Borrowings | 999.17 | 948.15 |
| Cash and equivalents | 25.27 | 51.09 |
| Inventories | 657.91 | 559.84 |
| Trade receivables | 986.78 | 823.06 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | 168.54 | 94.78 |
| Cash from investing | −188.86 | −79.37 |
| Cash from financing | −0.88 | −35.90 |
| Capital expenditure | 191.05 | 170.07 |
Source: Company's results filing (XBRL).
How has Sandhar Technologies done over the last 8 quarters?
Revenue rose in each of the last eight quarters on a year-on-year basis. In the reported quarterly series, revenue reached its highest level in Q2 FY27 at ₹1,617.68 crore, while PAT was highest in Q2 FY26 at ₹73.38 crore and lowest in Q1 FY26 at ₹28.01 crore. The EBITDA margin was lowest at 7.6% in Q1 FY26 and recovered to 8.5% in Q2 FY27 from 7.6% in the preceding quarter.
Which businesses drove the quarter?
The India segment reported revenue of ₹1,488.23 crore in Q2 FY27, up 29.1% from ₹1,153.02 crore in the year-ago quarter, and EBIT of ₹91.09 crore, with an EBIT margin of 6.1%. Overseas revenue was ₹129.45 crore, up 10.3% from ₹117.36 crore, while EBIT was ₹1.39 crore and the EBIT margin was 1.1%.
| Segment | Revenue | Revenue YoY | EBIT | EBIT margin |
|---|---|---|---|---|
| India | 1,488 | +29.1% | 91.09 | 6.1% |
| Overseas | 129.45 | +10.3% | 1.39 | 1.1% |
Source: Company's results filing (XBRL segment data).
How did Sandhar Technologies shares react?
The stock moved 1.5% lower after five minutes from the price when the filing appeared, then was 3.0% higher after 15 minutes. The base price was ₹485.65 against a previous close of ₹479.0. No reaction-day, next-day or five-day move was provided in the data.
Earlier results-day reactions were mixed: the stock fell 3.8% on 11 August 2026 and rose 10.0% on 21 May 2026. Other reaction-day moves included 2.1% on 13 November 2025, negative 3.9% on 7 August 2025, positive 3.1% on 22 May 2025 and negative 5.6% on 12 February 2025.
| After the filing | Stock |
|---|---|
| 5 minutes | −1.5% |
| 15 minutes | +3.0% |
Minutes are measured from the price when the filing appeared; days from the previous close. Source: MarketPing price-reaction measurement.
| Results filed on | Stock on the reaction day |
|---|---|
| 11 August 2026 | −3.8% |
| 21 May 2026 | +10.0% |
| 11 February 2026 | −4.5% |
| 13 November 2025 | +2.1% |
| 7 August 2025 | −3.9% |
| 22 May 2025 | +3.1% |
| 12 February 2025 | −5.6% |
| 11 November 2024 | +7.7% |
Source: MarketPing price-reaction measurement.
How did other Auto Components & Equipments companies do?
Among 50 other Auto Components & Equipments companies that had filed for the quarter, the median revenue growth was 33.6%. Of the other companies, 21 grew revenue more slowly than Sandhar Technologies and 29 grew faster. Profit was higher for 40 companies, compared with 51 companies whose profit was assessed. The peer data was as of 5 November 2026.
| Sandhar Technologies revenue growth (YoY) | +27.3% |
|---|---|
| Median of 50 other Auto Components & Equipments companies | +33.6% |
| Companies with slower revenue growth than Sandhar Technologies | 21 of 50 |
| Companies with faster revenue growth than Sandhar Technologies | 29 of 50 |
| Companies whose net profit rose | 40 of 51 |
Source: Filed results (XBRL) of the industry's companies.
Quick answers
What was Sandhar Technologies' revenue in Q2 FY27?
Revenue from operations was ₹1,618 crore, up 27.3% from ₹1,270 crore in Q2 FY26 (consolidated).
Did Sandhar Technologies make a profit in Q2 FY27?
Yes. Net profit was ₹56.03 crore, against a net profit of ₹73.38 crore in Q2 FY26.
What was Sandhar Technologies' EPS in Q2 FY27?
Basic earnings per share were ₹9.31, against ₹12.19 in Q2 FY26.
When did Sandhar Technologies announce its Q2 FY27 results?
On 5 November 2026, in a filing to the NSE.
Sources
- Outcome of Board Meeting (NSE, 5 November 2026) · PDF
How this was written: every figure in the tables and charts is calculated from the company’s filed results (XBRL) and MarketPing’s price measurements. The text is drafted with AI from those figures and the filings, and a checker removes any sentence carrying a number it cannot trace to them. How we write these.
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