ECONOMY

Sandhar Technologies Q4 Review – Improving Growth, Margin Outlook: Dolat Capital

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Despite slowdown in the two-wheeler segment, Sandhar Technologies Ltd. printed a strong revenue performance in Q4 led by strong growth in cabin and fabrication, sheet metal and aluminum die casting business.

Ebitda margin improved 62 basis points QoQ to 9.2%.

Management guided 30-35% revenue growth and double digit Ebitda margin for FY23 led by recovery in two-wheeler business, capacity addition in sheet metal and aluminum die casting business, premiumisation in locking business and traction in cabin and fabrication business.

Sandhar Technologies is setting up five plants dedicated to sheet metal and aluminum die casting which will help to generate incremental revenue of Rs 3-3.5 billion in FY23. Capex to be in the range of Rs 3-4 billion in FY23.

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