Q3 2026 Sharda Motor Industries Ltd Earnings Call Transcript
Key Points
- Sharda Motor Industries Ltd (BOM:535602) reported a 28% year-on-year growth in consolidated revenues for Q3 FY26, reaching INR881.6 crore.
- The company achieved a gross profit growth of 12% year-on-year, aligning with industry trends.
- Sharda Motor Industries Ltd secured significant new orders in its lightweighting vertical, including a USD3 million annual order from a leading passenger vehicle OEM.
- The company announced new export orders with an aggregate value of USD3.7 million, indicating a growing international presence.
- The partnership with Donghee enhances Sharda Motor Industries Ltd's R&D capabilities, particularly in control arms, links, subframes, and torsion beams.
- Despite industry growth, Sharda Motor Industries Ltd's gross profit growth of 12% was lower than the industry average of 15% for passenger vehicles and light commercial vehicles.
- The company's joint venture contributions remain small, with profits from JVs and associates being relatively insignificant.
- There is uncertainty regarding the implementation of TREM5 norms, which could impact future business plans.
- The company's export revenue currently contributes only 1% to the overall revenue, indicating limited international market penetration.
- Sharda Motor Industries Ltd's capacity utilization for its lightweighting segment is at 80%, suggesting potential constraints in meeting future demand without further expansion.
Ladies and gentlemen, good day, and welcome to Q3 FY26 Sharda Motors Limited post-earnings conference call hosted by Equirus Securities. (Operator Instructions) Please note that this conference is being recorded.
I now hand the conference over to Mr. Mihir Vora from Equirus Securities. Thank you, and over to you, sir.
Thank you, [Muskan]. Welcome, everyone, to the Q3 FY26 post-results conference call of Sharda Motor Industries Limited. From the management team, we have Mr. Aashim Relan, Group CEO; Mr. Ashwani Maheshwari, Deputy Managing Director; Mr. G.D. Takkar, Group CFO.
So without further ado, I now hand over the call to the management for the opening remarks. Over to you, sir.
Thank you. Thank you very much, Mihir. My name is G.D. Takkar, and I thank everyone for joining today. I extend a warm welcome to all the participants on today's call. I'm joined by our Group CEO, Mr.
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