Sandhar Technologies Limited
NSE: SANDHARAuto Components & Equipments
Share price
₹530.30
-0.72% close of 9 Oct 2026
Price-based ratios (P/B, dividend yield, EV/EBITDA) are as of 8 Oct 2026, the close above is 9 Oct 2026.
Business score
How strong the business is, in one number. The parts behind it are in Pro.
69
out of 100 · worked out 8 Oct 2026
Your ratios
The numbers you want to see first. Tap Edit to change them.
Market cap
₹3,182 Cr
P/E ratio
15.2
P/B ratio
2.4
ROCE
12.3%
ROE
11.5%
Dividend yield
0.7%
Price & valuation chart
How the share price and its valuation have moved. Hover over the chart to see any day. Prices as of the last close.
Answers
Simple answers to the questions investors ask most, from the company's own numbers.
How fast it has been growing
Sales grew 26.6% over the past year, and 13.4% a year over its longer record. Meanwhile what it keeps of every 100 rupees of sales improved from 8.4% to 9.0% over the last four years.
Whether it grew faster than its sector
It grew 13.4% a year against a sector median of 10.5% — 2.9 percentage points faster.
Room to re-rate, or risk of de-rating
At 15.2× earnings against a market that pays 24.1× across 2199 companies we can price. Its own industry sits at 52.1×, across 5 companies. It is against its own five-year median of 23.2×, the 1st percentile of its own range.
Whether growth justifies the valuation
Priced at 0.6 times its growth rate, on earnings growth of 26%.
| Profit growth | Price per ₹1 profit | Per 1% growth | |
|---|---|---|---|
| Sandhar Technologies Limited — this one | 26%/yr | 15.2× | ₹0.58 |
| Samvardhana Motherson International Limited | 40%/yr | 35.3× | ₹0.88 |
| Bosch Limited | 14%/yr | 55.3× | ₹3.9 |
| Bharat Forge Limited | 33%/yr | 86.4× | ₹2.6 |
| UNO Minda Limited | 23%/yr | 52.1× | ₹2.3 |
| Schaeffler India Limited | 10%/yr | 45.4× | ₹4.5 |
Compared with companies filed under the same label. That grouping comes from the exchange's filing category, so some of them may not be real rivals.
How it compares with its peers
Against companies the exchange files under the same label (Auto Components & Equipments), it ranks 71 of 101 on returns, 30 of 99 on growth, 87 of 101 on margin. That grouping comes from the exchange's filing category, so some of them may not be real rivals.
What makes it hard to beat — and is that still true?
No durable advantage shows in the numbers: it earns 12.3% on capital, ahead of 30% of companies filed under the same label. That grouping comes from the exchange's filing category, so some of them may not be real rivals.
Whether its growth pays for itself
No — Over the last five years it made ₹1089 crore of cash from the business but spent ₹1366 crore on plant and equipment, ₹277 crore more than it made; the gap was mostly borrowed — borrowings rose from ₹620 crore to ₹1148 crore. And the profit is real: of every 100 rupees it reported over 12 years, about 217 arrived as cash — well above the profit; depreciation and interest are the reason, not a windfall. Its cash comes back faster than it used to: it went from being waiting 3 days for its cash to paid 11 days before it paid its own suppliers.
Profit reality check
Is the profit real cash? Simple checks on the accounts. Facts only, not advice.
6 of 9 checks clear · 67%
Latest result · Q1 FY27
What the last results showed. Whether management kept its word is in Pro.
Revenue rose 26.8% year on year while net profit rose 33.1%.
Announced 11 Aug 2026 · Consolidated · Unaudited
Revenue
₹1,382 Cr
Revenue vs last year
+26.8%
Revenue vs last quarter
+5.7%
Net profit
₹37 Cr
Profit vs last year
+33.1%
Profit vs last quarter
-41.8%
Net margin
2.7%
EPS
₹6.19
Checklist before you investPRO
Points for and against, in one list.
Key numbers & peers
The main numbers grouped by topic, and how the company compares with similar ones.
Price
- Market cap
- ₹3,182 Cr
- Prev close
- ₹530.30
- 52w High
- ₹763
- 52w Low
- ₹424
- Enterprise value
- ₹4,278 Cr
- Beta
- 1.4
- Price CAGR 1y
- 17.0%
- Price CAGR 3y
- 12.0%
- Price CAGR 5y
- 14.0%
- Price CAGR 10y
- —
Ratios
- Return on assets
- 5.7%
- PEG ratio
- 0.6
- P/E ratio
- 15.2
- P/B ratio
- 2.4
- EV / EBITDA
- 9.3
- Industry P/E
- 32.0
- ROCE
- 12.3%
- ROCE 5y average
- 10.6%
- ROE
- 11.5%
- Debt / Equity
- 0.9
- Interest coverage
- 4.7
- Dividend yield
- 0.7%
- ROE 3y average
- 12.0%
- ROE last year
- 12.0%
Annual P&L
- Annual revenue
- ₹4,852 Cr
- Annual profit
- ₹199 Cr
- Operating margin
- 9.0%
- Net profit margin
- 4.1%
- EBITDA margin
- 9.0%
- Sales growth 3y
- 18.6%
- Sales growth 5y
- 21.1%
- Profit growth 3y
- 26.0%
- Profit growth 5y
- 20.0%
- EPS
- ₹33.0
- Sales growth TTM
- 27.0%
- Profit growth TTM
- 51.0%
- Dividend payout
- 12.0%
Quarter P&L
- Sales latest quarter
- ₹1,382 Cr
- Profit latest quarter
- ₹37 Cr
- YoY quarterly sales growth
- 26.8%
- YoY quarterly profit growth
- 32.1%
- OPM latest quarter
- 7.6%
Balance Sheet
- Book Value
- ₹222
- Face Value
- ₹10.0
- Total debt
- ₹1,148 Cr
- Total cash
- ₹51 Cr
- Borrowings
- ₹1,148 Cr
- Reserves / Equity
- 21.2
Cash Flow
- Operating cash flow
- ₹210 Cr
- Free cash flow
- -₹71 Cr
- FCF yield
- -4.4%
- Net cash flow
- -₹30 Cr
Shareholding
- Promoter holding
- 70.4%
- FII holding
- 2.1%
- DII holding
- 14.8%
- Public holding
- 12.7%
Peer comparison
| Company | Price ₹ | P/E | Mkt cap ₹ Cr | Div yield % | Profit qtr ₹ Cr | Profit var % | Sales qtr ₹ Cr | Sales var % | ROCE % |
|---|---|---|---|---|---|---|---|---|---|
| Samvardh. Mothe. | 155.15 | 35.8 | 1,63,752 | 0.38 | 1,075.7 | 81.5 | 35,243.8 | 16.6 | 13.4 |
| Bosch | 43,365.00 | 54.1 | 1,27,910 | 0.61 | 706.1 | 5.2 | 5,841.9 | 22.0 | 21.5 |
| Bharat Forge | 1,810.40 | 87.6 | 88,469 | 0.46 | -89.9 | -57.7 | 4,639.9 | 18.7 | 12.6 |
| Uno Minda | 1,095.85 | 51.8 | 63,282 | 0.24 | 315.5 | 1.8 | 5,556.9 | 23.8 | 19.6 |
| Schaeffler India | 3,739.25 | 45.2 | 58,446 | 0.93 | 336.7 | 13.7 | 2,681.4 | 17.5 | 27.9 |
| Sona BLW Precis. | 795.65 | 63.9 | 49,662 | 0.42 | 220.1 | 73.4 | 1,157.2 | 50.8 | 15.1 |
| Tube Investments | 2,283.50 | 70.5 | 44,202 | 0.15 | 294.0 | -15.3 | 6,215.3 | 17.1 | 17.1 |
| Sandhar Tech | 545.20 | 15.7 | 3,282 | 0.70 | 37.3 | 33.1 | 1,381.9 | 26.8 | 12.3 |
| Median | 446.25 | 29.1 | 1,568 | 0.32 | 12.3 | 22.3 | 265.5 | 21.0 | 16.4 |
Competes with: Bharat Forge Limited, Bosch Limited, Samvardhana Motherson International Limited, Schaeffler India Limited, Sona BLW Precision Forgings Limited, Tube Investments of India Limited, UNO Minda Limited
Quarterly results
Sales and profit for each of the last 13 quarters. Newest on the right. ₹ crore.
| Line item | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 829 | 885 | 890 | 918 | 913 | 984 | 974 | 1,014 | 1,090 | 1,270 | 1,185 | 1,307 | 1,382 |
| Expenses | 756 | 804 | 801 | 820 | 827 | 885 | 879 | 910 | 1,008 | 1,152 | 1,076 | 1,178 | 1,277 |
| Material Cost | 615 | 684 | 825 | 757 | 834 | 894 | |||||||
| Change in Inventories | 16 | 2.11 | -21 | -24 | 1.26 | -3.77 | |||||||
| Purchases of Stock-in-Trade | 0 | 0 | 0 | 0 | 0 | 0 | |||||||
| Employee Cost | 130 | 146 | 158 | 157 | 154 | 188 | |||||||
| Other Expenses | 149 | 176 | 190 | 186 | 189 | 199 | |||||||
| Operating Profit | 73 | 81 | 89 | 98 | 86 | 99 | 95 | 104 | 82 | 118 | 108 | 129 | 105 |
| OPM % | 8.79 | 9.17 | 9.96 | 11 | 9.39 | 10 | 9.75 | 10 | 7.56 | 9.30 | 9.13 | 9.87 | 7.61 |
| Other Income | 3 | 4 | 3 | 5 | 7 | 7 | 5 | 10 | 21 | 39 | 3 | 18 | 13 |
| Exceptional items (within Other Income) | 5.00 | 1.89 | 1.38 | -0.25 | 1.87 | 1.34 | |||||||
| Interest | 11 | 13 | 13 | 14 | 14 | 14 | 14 | 15 | 17 | 17 | 17 | 18 | 18 |
| Depreciation | 35 | 37 | 40 | 42 | 41 | 42 | 44 | 44 | 50 | 44 | 49 | 50 | 50 |
| Profit before tax | 30 | 35 | 39 | 46 | 37 | 50 | 42 | 56 | 36 | 96 | 45 | 79 | 51 |
| Tax % | 27 | 22 | 34 | 23 | 22 | 20 | 28 | 23 | 23 | 23 | 25 | 19 | 27 |
| Net Profit | 22 | 28 | 25 | 36 | 29 | 40 | 30 | 43 | 28 | 73 | 33 | 64 | 37 |
| EPS in Rs | 3.55 | 4.54 | 4.19 | 5.96 | 4.83 | 6.65 | 4.98 | 7.08 | 4.65 | 12 | 5.56 | 11 | 6.19 |
| Diluted EPS in Rs | 7.08 | 4.65 | 12 | 5.56 | 11 | 6.19 |
Profit & loss
Yearly sales, costs and profit for 12 years, plus the last 12 months (TTM). ₹ crore.
| Line item | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 1,482 | 1,513 | 1,611 | 1,946 | 2,336 | 1,943 | 1,864 | 2,324 | 2,909 | 3,521 | 3,885 | 4,852 | 5,144 |
| Expenses | 1,343 | 1,372 | 1,466 | 1,743 | 2,091 | 1,757 | 1,686 | 2,130 | 2,663 | 3,180 | 3,501 | 4,414 | 4,683 |
| Material Cost | 2,407 | 3,101 | |||||||||||
| Change in Inventories | -23 | -41 | |||||||||||
| Purchases of Stock-in-Trade | 0 | 0 | |||||||||||
| Employee Cost | 529 | 614 | |||||||||||
| Other Expenses | 588 | 741 | |||||||||||
| Operating Profit | 139 | 141 | 146 | 203 | 245 | 187 | 177 | 193 | 246 | 341 | 383 | 438 | 460 |
| OPM % | 9 | 9 | 9 | 10 | 10 | 10 | 10 | 8 | 8 | 10 | 10 | 9 | 9 |
| Other Income | 6 | 1 | 7 | 4 | 6 | 10 | 11 | 6 | 11 | 14 | 29 | 80 | 72 |
| Exceptional items (within Other Income) | 12 | 4.90 | |||||||||||
| Interest | 41 | 42 | 43 | 43 | 24 | 20 | 16 | 18 | 36 | 52 | 57 | 69 | 69 |
| Depreciation | 52 | 55 | 58 | 68 | 81 | 98 | 94 | 100 | 122 | 154 | 171 | 193 | 193 |
| Profit before tax | 51 | 45 | 52 | 97 | 145 | 78 | 78 | 81 | 100 | 150 | 185 | 256 | 271 |
| Tax % | 25 | 25 | 20 | 32 | 34 | 27 | 26 | 31 | 27 | 27 | 23 | 22 | |
| Net Profit | 38 | 34 | 42 | 66 | 96 | 57 | 58 | 56 | 74 | 110 | 142 | 199 | 208 |
| EPS in Rs | 7.48 | 6.54 | 8.07 | 11 | 16 | 9.45 | 9.59 | 9.26 | 12 | 18 | 24 | 33 | 35 |
| Diluted EPS in Rs | 24 | 33 | |||||||||||
| Dividend Payout % | 25 | 54 | 25 | 19 | 16 | 21 | 23 | 24 | 21 | 18 | 15 | 12 |
Compounded growth
Average yearly growth over different spans, as stored. A span can cross a demerger or an acquisition.
Compounded sales growth
- 10 years
- 12%
- 5 years
- 21%
- 3 years
- 19%
- TTM
- 27%
Compounded profit growth
- 10 years
- 15%
- 5 years
- 20%
- 3 years
- 26%
- TTM
- 51%
Stock price CAGR
- 10 years
- —
- 5 years
- 14%
- 3 years
- 12%
- 1 year
- 17%
Return on equity
- 10 years
- 10%
- 5 years
- 10%
- 3 years
- 12%
- Last year
- 12%
Balance sheet
What the company owns and what it owes, at the end of each year. ₹ crore.
| Line item | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 10 | 51 | 51 | 60 | 60 | 60 | 60 | 60 | 60 | 60 | 60 | 60 |
| Reserves | 249 | 222 | 251 | 574 | 659 | 702 | 744 | 799 | 860 | 956 | 1,079 | 1,273 |
| Borrowings | 370 | 395 | 460 | 484 | 268 | 283 | 310 | 620 | 666 | 741 | 924 | 1,148 |
| Other Liabilities | 286 | 296 | 305 | 467 | 475 | 321 | 482 | 497 | 563 | 662 | 727 | 996 |
| Minority Interest | 0 | 0 | ||||||||||
| Total Liabilities | 916 | 965 | 1,067 | 1,585 | 1,462 | 1,367 | 1,597 | 1,976 | 2,150 | 2,420 | 2,790 | 3,477 |
| Fixed Assets | 476 | 528 | 595 | 678 | 743 | 831 | 842 | 942 | 1,172 | 1,336 | 1,343 | 1,652 |
| CWIP | 40 | 55 | 29 | 72 | 37 | 33 | 15 | 128 | 115 | 76 | 69 | 115 |
| Investments | 3 | 4 | 11 | 24 | 39 | 48 | 58 | 53 | 49 | 57 | 61 | 67 |
| Other Assets | 396 | 377 | 433 | 811 | 642 | 454 | 682 | 853 | 814 | 950 | 1,318 | 1,642 |
| Total Assets | 916 | 965 | 1,067 | 1,585 | 1,462 | 1,367 | 1,597 | 1,976 | 2,150 | 2,427 | 2,790 | 3,476 |
Cash flows
Real money coming in and going out each year — from the business, from investments and from loans. ₹ crore.
| Line item | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity | 100 | 144 | 96 | 188 | 133 | 239 | 124 | 49 | 308 | 275 | 247 | 210 |
| Cash from Investing Activity | -118 | -103 | -107 | -186 | -141 | -112 | -98 | -310 | -269 | -241 | -300 | -268 |
| Cash from Financing Activity | 20 | -41 | 14 | 247 | -243 | -124 | -26 | 260 | -37 | -7 | 101 | 28 |
| Net Cash Flow | 2 | -0 | 2 | 249 | -251 | 3 | -1 | -2 | 2 | 27 | 48 | -30 |
| Free Cash Flow | -11 | 37 | -10 | 13 | 12 | 153 | 49 | -247 | 58 | 42 | -59 | -71 |
Ratios
How fast customers pay, how long stock sits, and how well capital earns — year by year.
| Line item | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 46 | 40 | 47 | 50 | 53 | 36 | 70 | 70 | 45 | 47 | 52 | 62 |
| Inventory Days | 63 | 65 | 63 | 66 | 58 | 64 | 71 | 67 | 60 | 57 | 63 | 67 |
| Days Payable | 90 | 91 | 90 | 112 | 94 | 79 | 132 | 100 | 82 | 83 | 81 | 93 |
| Cash Conversion Cycle | 19 | 14 | 19 | 5 | 17 | 22 | 9 | 37 | 23 | 22 | 34 | 36 |
| Working Capital Days | 24 | 18 | -29 | -72 | -14 | -13 | 12 | 3 | -2 | -10 | -14 | -11 |
| ROCE % | 14 | 13 | 15 | 16 | 10 | 9 | 8 | 9 | 12 | 12 | 12 |
Price trend
The price as a Renko brick chart: small moves drop out so the bigger path stands out.
Every brick is the same size, about one typical day's move. A new brick needs a full brick's move; turning the other way needs two. Bricks show where the price went, not where it will go.
Open interestPRO
Where option traders are positioned on this stock.
Industry numbers
The numbers that matter most in this industry, from the company's own filings.
1 when an audit qualification is filed as repetitive
0.00flag
2026-03-31
the company's own unlisted debt securities in default at period end
0.00cr
2026-06-30
the company's own loans / revolving facilities in default at period end (standalone filing)
0.00cr
2026-06-30
net debt from the filed balance sheet at the newest year end: Borrowings − Cash Equivalents − Investments (Current); negative = net cash
1,096inr_cr
2026-03-31
guarantees / comfort given for promoter, promoter group, directors and KMP
0.00cr
2026-03-31
loans outstanding to promoter, promoter group, directors and KMP (governance filing)
0.00cr
2026-03-31
security given for the borrowing of promoter, promoter group, directors and KMP
0.00cr
2026-03-31
FY revenue / permanent employees + workers, same basis (calc)
2,42,97,173inr
2026-03-31
News
News and filings about Sandhar Technologies Limited. Open one to see why it matters.
No recent news for this company.
Supply chain
Who it buys from, sells to and competes with — as recorded in our map of company links.
Competes with
Uses as raw material
- aluminium (die-casting alloy)
- brass
- copper
- glass (for mirrors)
- nickel (plating)
- plastics / polymers (injection moulding)
- steel / sheet metal (stampings)
- zinc (die-casting alloy)
Depends on the price of
- aluminium
- copper
- steel
- zinc
Sells to
- Ashok Leyland · locking/security systems, vision systems, stampings and cabins/structural assemblies
- Caterpillar · operator cabins and structural/off-highway components
- Doosan Bobcat · operator cabins and structural/off-highway components
- Escorts Kubota Limited · auto components for tractors/off-highway vehicles
- Hero MotoCorp · two-wheeler locking/security systems, mirrors, sheet-metal and wheel/handlebar assemblies
- Honda Cars India · mirrors, door handles, locks (sole supplier for Honda cars)
- Hyundai Construction Equipment · operator cabins and structural/off-highway components
- International Tractors Limited (Sonalika) · tractor/off-highway auto components
- JCB · operator cabins and structural/off-highway components
- Kobelco · operator cabins and structural/off-highway components
- Komatsu · operator cabins and structural/off-highway components
- Mahindra & Mahindra · automotive and tractor/off-highway components
- SML Mahindra Limited · commercial vehicle components (ex-SML Isuzu)
- Scania · commercial vehicle components including locks/mirrors
- TAFE · tractor/off-highway auto components
- TVS Motor Company · two-wheeler locking systems, mirrors, wheel/handlebar assemblies and related components
- Tata Motors Limited · locks, mirrors and structural/auto components for commercial & passenger vehicles
- Tata Motors Passenger Vehicles Limited · locks, mirrors and structural/auto components for commercial & passenger vehicles
- Volvo · commercial vehicle and off-highway components
About
What the company is, from our own records: where it sits, where it makes things, and what it is made of.
- Sector
- Automobile and Auto Components
- Industry
- Auto Components & Equipments
- Classification
- Automobile and Auto Components › Auto Components & Equipments
- ISIN
- INE278H01035
Business segments
- India · 90%
- Overseas · 10%
Plants
- Sandhar Automach, Mysore · Mysuru, Karnataka
- Sandhar Automach, Nalagarh
- Sandhar Automotives, Bommasandra · Bengaluru, Karnataka
- Sandhar Automotives, Gurgaon · Gurugram, Haryana
- Sandhar Automotives, Haridwar · Haridwar, Uttarakhand
- Sandhar Automotives, Pune · Pune, Maharashtra
- Sandhar Components, Attibele
- Sandhar Components, Bawal · Bawal, Haryana
- Sandhar Components, Behrampur · Gurugram, Haryana
- Sandhar Components, Manesar · Manesar, Haryana
- Sandhar Technologies Barcelona SL · Santa Margarida i els Monjos, Barcelona, Spain
- Sandhar Technologies De Mexico
- Sandhar Technologies Hosur
- Sandhar Technologies Ltd. CFD Jaipur · Jaipur, Rajasthan
- Sandhar Technologies Ltd. Pathredi · Pathredi, Rajasthan
- Sandhar Technologies Oragadam
- Sandhar Technologies Sp. z.o.o. · Czestochowa, Silesian Voivodeship, Poland
News impact
Big market events that reach Sandhar Technologies Limited, and how the effect spreads.
1 Oct, 11:17 IST · Market event · high impact
SML Mahindra Stock Falls 4% Even As September Sales Jump 18%
SML Mahindra sold 18% more trucks and buses in September, helping the company and its parts suppliers, but its shares still fell 4%, hurting shareholders who expected the good news to lift the stock.
Who it hits first
- SML Mahindra, the truck and bus maker, sold 1,124 vehicles in September 2026, up 18% from 950 a year earlier.
- Despite the strong sales, its shares fell 4% as investors sold on the news, likely disappointed by margins, the small absolute base, or an already-run-up price.
- Its parts suppliers, Sandhar and Banco India, stand to gain from higher factory orders if the growth continues.
- Bigger truck rivals such as Tata's commercial-vehicle arm and Ashok Leyland read the number as a sign of healthy truck demand rather than a threat, since 1,124 units is tiny beside their volumes.
Who may gain
- Sandhar and Banco India, the two parts suppliers to SML Mahindra in the ranked pool, gain order volume if September's pace holds.
- Tata's commercial-vehicle business and Ashok Leyland benefit from the read-across that truck demand is healthy.
- No other clear beneficiary; the sales jump is too small in absolute units to move the wider auto market.
Along the supply chain
Downstream
The pack shows no company that buys from SML Mahindra, since it sells trucks and buses through dealers to fleet owners; the downstream effect is healthier dealer lots and fleet supply, not a gain for another listed firm.
Upstream
SML Mahindra buys parts from Sandhar, Banco India, Pritika Auto, PPAP and ZF Steering, so sustained sales growth lifts their order books, with Sandhar and Banco India in the ranked pool carrying the direct signal.
Where demand moves
Business
Truck buyers ordered more SML Mahindra vehicles, lifting revenue at the company and order flow to its parts suppliers Sandhar and Banco India; rival truck makers lose no sales since SML's 1,124 units are far too few to take meaningful share.
Capital
Investors sold SML Mahindra shares despite the sales beat, a sell-on-news reaction that may rotate money toward larger truck makers or the sidelines until margins and October volumes confirm the trend.
How it spreads across sectors
Automobile and Auto Components
Mildly positive read-across for truck makers and their suppliers as SML's 18% jump points to healthy commercial-vehicle demand, tempered by the stock's 4% fall which warns that small-base growth alone does not re-rate share prices.
When it plays out
Immediate
SML Mahindra stays choppy as sell-on-news pressure meets bargain buying on the sales beat; suppliers edge up on order hopes.
Medium term
If double-digit growth sustains through the freight season, suppliers build bigger order books and rivals confirm the truck cycle is healthy.
Short term
October sales and any margin commentary decide whether the growth story re-rates the stock or the selling continues.
Dividends, splits & big trades
Money paid out, share splits and buybacks, and big buys or sells by funds and insiders.
Dividends
| 11 Sep 2026 | unspecified | ₹4 |
|---|---|---|
| 12 Sep 2025 | unspecified | ₹3.5 |
| 17 Sep 2024 | unspecified | ₹3.25 |
| 14 Sep 2023 | unspecified | ₹2.5 |
| 14 Sep 2022 | unspecified | ₹2.25 |
| 15 Sep 2021 | unspecified | ₹1 |
| 24 Feb 2021 | interim | ₹1.25 |
| 15 Sep 2020 | unspecified | ₹0.75 |
Splits, bonuses & buybacks
- daily-prices repair: 8 rows from NSE's archive (replace 1, delete 1, insert 6), 2020-02-01..2026-02-01 (docs/flat_day_repair.md)1× · 1 Feb 2020
Bulk & block deals
| Date | Who | Bought / sold | Shares | Price |
|---|---|---|---|---|
| 21 May 2026 | NK SECURITIES RESEARCH PRIVATE LIMITED | BUY | 3,15,528 | ₹579.03 |
| 21 May 2026 | NK SECURITIES RESEARCH PRIVATE LIMITED | SELL | 3,15,528 | ₹579.36 |
Documents
Annual reports, results presentations and earnings calls, straight from the source.
- Annual report · 2025-2625 Aug 2026
- Earnings call25 May 2026
- Earnings call16 Feb 2026
- Annual report · 2024-2528 Aug 2025
Facts from company filings and exchange data. Not investment advice: nothing here tells you to buy or sell.