This article first appeared on GuruFocus .
Release Date: February 16, 2026
For the complete transcript of the earnings call, please refer to the full earnings call transcript .
Positive Points
-
Sandhar Technologies Ltd ( BOM:541163 ) reported a 24% growth in revenue from operations on a nine-month basis.
-
The company's joint ventures performed satisfactorily, registering significant revenue and profit.
-
The EV segment has started commercial invoicing of battery chargers and motor controllers, generating positive market responses.
-
Operational efficiency improvements and cost reduction measures have been implemented, leading to reduced losses in overseas subsidiaries.
-
The company is optimistic about breaking even in the overseas market in the upcoming quarter.
Negative Points
-
Overseas business revenue saw a slight decline of 0.6%, despite an increase in EBITDA.
-
The company faced cumulative losses in the overseas business due to translation and operational challenges.
-
New projects sustained a loss of approximately 25 crores, impacting overall profitability.
-
The European market continues to witness uncertainty, affecting business operations.
-
There is no immediate plan for acquisitions, as potential opportunities have not met the company's internal parameters.
Q & A Highlights
Q: Can you provide an outlook on margins and any plans for acquisitions in the EU or other geographies? A: (CEO) Our existing business revenue has grown by 14.5%, with margins increasing from 10.5% to 11.9%. We are optimistic about future growth. Regarding acquisitions, we continuously evaluate opportunities, but only pursue those that meet our financial and operational criteria. Currently, there are no acquisitions on the table, but we remain open to exciting opportunities.
Q: What is the impact of recent trade deals with Europe on your product demand and supply? A: (CEO) The trade deals have minimal impact on us as we primarily supply OEMs, which were already exempt from punitive tariffs. While the aftermarket might benefit, our operations remain largely unaffected. However, we anticipate future opportunities as Europe and America look to India for supply.
Q: Can you elaborate on the overseas debt situation and any plans to address it? A: (CFO) The increase in overseas debt is partly due to currency translation losses and operational slowdowns. We have not remitted funds from India to service this debt. Starting April 2026, we expect operations to improve, allowing us to manage and reduce debt from overseas earnings.
Q: What are your expectations for the overseas business performance in the next year? A: (CFO) We anticipate a turnaround in overseas operations starting April 2026, with improvements in operational efficiency and financial restructuring. Despite strong aluminum prices, we have pass-through agreements with customers, and operational changes should lead to positive results.
Q: How is the EV business performing, and what are your expectations? A: (CFO) The EV business is ramping up, generating 12 crores in revenue, with significant contributions in Q3. We expect better performance in Q4 and continued growth as we expand our product offerings and market presence.
For the complete transcript of the earnings call, please refer to the full earnings call transcript .
