Sharda Motor Industries Ltd.

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shardamotor.comBSE: 535602NSE: SHARDAMOTR

Market Cap₹ 5,227 Cr.

Current Price

High / Low₹ 1,190 / 700

Stock P/E15.9

Book Value₹ 246

Price to Book4.20

Dividend Yield2.20 %

ROCE40.1 %

ROE29.7 %

Face Value₹ 2

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ABOUT

KEY POINTS

Revenue Breakup Mar 2016 • Automotive Components & Accessories: 98.0% • White Goods: 2.0%

AI Sector View

AI GENERATED

Automobile and Auto Components

Buy

Domestic auto demand remains strong across categories, with total vehicles registered up 27% YoY (2026-07), passenger vehicle sales up 14% YoY (2026-06), 2-wheelers up 23% YoY (2026-06), and tractor sales up 18% YoY (2026-07). Core demand is reinforced by vehicle sales of 395199 units (Jul/26) and car registrations of 457810 units (Jul/26), outweighing FPI outflows of INR -11826 crore over 3 months to 2026-08-31. The stance stays positive because fundamentals are stronger than positioning.

Confidence

74%

View full sector analysis →

PROS

Company has delivered good profit growth of 40.2% CAGR over last 5 years
Company is almost debt free
Company has a healthy return on capital (ROCE) of 41.4%
Company has a good return on equity (ROE) track record: 3 Years ROE 30.7%
Company has delivered good sales growth of 26.9% CAGR over last 5 years

CONS

Receivables are growing faster than sales - a possible quality concern
Poor cash conversion - profits are not backed by operating cash flow (CFO/PAT 0.54x)
Working capital days have increased from 59 to 101 days
Growth is decelerating - 3Y profit CAGR (24.6%) trails the 5Y trend (40.2%)

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

Automobile and Auto ComponentsAutomobile & AncillariesAuto Ancillary

Part ofNIFTY 50 NIFTY 500 NIFTY LARGEMIDCAP 250 NIFTY 100 NIFTY 200

S.No.	Name
1.	MOTHERSON	163.80	39.47	172881.77	0.37	1075.66	77.48	35243.77	17.70	13.63	8.86
2.	BOSCHLTD	48900.00	61.03	144235.93	0.55	706.10	-36.74	5841.90	22.00	25.60	14.08
3.	UNOMINDA	1230.45	59.10	71054.45	0.22	315.51	2.10	5556.85	23.79	20.74	11.14
4.	TIINDIA	2685.25	85.70	51979.01	0.13	293.96	-3.04	6215.33	20.20	27.33	8.81
5.	SONACOMS	800.45	71.79	49958.36	0.42	178.51	46.67	1301.20	52.38	14.75	22.55
6.	ENDURANCE	2754.35	39.95	38743.47	0.42	244.52	8.03	4314.89	30.01	18.33	12.42
7.	CRAFTSMAN	11855.90	66.69	31008.43	0.09	150.55	116.31	2431.58	36.30	14.65	15.81
8.	ZFCVINDIA	2471.00	56.33	28121.34	0.03	1044.78	753.75	10661.76	992.89	20.23	12.93
9.	SANSERA	4133.05	74.02	25791.71	0.10	87.36	38.71	1021.26	33.27	14.29	19.18
10.	MSUMI	36.71	38.80	24344.83	1.58	1453.20	915.51	34072.60	1273.43	43.72	7.58
11.	GABRIEL	1361.00	81.04	24121.01	0.37	1081.26	925.35	14256.83	1055.00	26.37	11.71
12.	SHARDAMOTR	910.45	15.74	5226.68	2.20	865.28	765.80	10110.67	1236.95	41.00	10.29

Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	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
	654	763	689	703	685	711	690	750	756	787	882	972	10,111
	586	663	595	604	590	606	595	649	658	686	775	859	9,239
Operating Profit	68	99	94	99	96	105	95	101	98	101	106	113	872
OPM %	10.43%	13.04%	13.69%	14.13%	13.96%	14.82%	13.70%	13.44%	13.02%	12.83%	12.07%	11.62%	8.62%
	18	19	22	29	20	15	21	27	45	18	18	23	271
Interest	1	1	1	0	0	0	1	2	1	1	1	1	12
Depreciation	12	13	14	14	13	14	15	17	14	16	17	17	148
Profit before Tax	74	105	102	114	102	106	100	109	129	103	106	117	1,143
Tax %	25.50%	24.62%	26.10%	24.93%	25.13%	25.78%	25.32%	24.44%	23.31%	26.52%	24.38%	25.92%	24.92%
Net Profit	55	79	75	86	76	79	75	83	99	75	80	87	858
	18.53	26.57	25.25	28.83	25.73	13.74	13.02	14.38	34.53	13.13	13.96	15.14	14.94

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
	927	1,042	1,155	1,140	863	1,737	2,255	2,700	2,809	2,837	3,652
	831	912	1,010	995	767	1,607	2,028	2,415	2,448	2,447	3,244
Operating Profit	96	130	145	145	96	129	228	285	361	389	408
OPM %	10.39%	12.46%	12.59%	12.75%	11.11%	7.44%	10.10%	10.54%	12.87%	13.72%	11.16%
	10	5	17	22	24	21	30	39	88	91	86
Interest	12	8	2	0	1	1	1	2	2	4	4
Depreciation	44	50	44	41	40	44	41	46	53	58	65
Profit before Tax	50	77	117	126	78	105	215	275	395	418	440
Tax %	32.15%	26.42%	32.67%	30.43%	26.41%	25.35%	24.96%	25.38%	25.25%	25.16%	25.43%
Net Profit	34	57	79	88	58	79	161	205	295	312	328
EPS	57.56	95.45	132.20	147.76	97.12	132.17	54.32	69.09	99.19	108.87	—
Dividend Payout %	21.72%	13.10%	9.46%	0.00%	0.00%	9.99%	15.00%	25.01%	10.00%	29.85%	—

COMPOUNDED SALES GROWTH

10 Years:: 12%
5 Years:: 27%
3 Years:: 8%

COMPOUNDED PROFIT GROWTH

10 Years:: 24%
5 Years:: 40%
3 Years:: 25%

STOCK PRICE CAGR

10 Years:: 23%
5 Years:: 25%
3 Years:: 21%
1 Year:: -10%

RETURN ON EQUITY

10 Years:: 24%
5 Years:: 28%
3 Years:: 31%
Last Year:: 30%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	6	6	6	6	6	6	6	6	6	6
	225	279	349	432	361	439	594	776	1,019	1,073
	121	61	0	0	10	12	12	24	23	49
Trade Payables	125	164	183	191	207	471	415	516	495	543
	81	74	126	158	169	214	254	307	418	521
Total Liabilities	558	585	664	788	753	1,142	1,281	1,628	1,961	2,192
	243	204	179	194	186	179	156	221	219	251
Capital Work in Progress	4	1	0	0	1	0	0	0	0	8
	31	80	106	85	42	55	104	54	687	757
	83	72	86	103	107	139	131	204	197	207
	0	0	0	0	0	0	0	0	227	285
Cash & Bank	37	60	74	141	146	263	398	162	265	201
	161	168	219	265	271	506	492	988	366	482
Total Assets	558	585	664	788	753	1,142	1,281	1,628	1,961	2,192

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	104	183	156	135	-9	180	249	-127	370	271
Cash from Investing	-62	-84	-30	-42	39	-152	-62	190	-215	-68
Cash from Financing	-43	-77	-70	-5	-1	-1	-9	-27	-54	-262
	-12	3	16	48	8	-6	120	-36	100	-60

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025

Shareholding Pattern

Numbers in percentages

	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	64.31	64.31	64.31	64.31	64.31	64.31	64.31	64.31	64.31
	2.43	2.38	2.16	2.20	2.26	2.46	2.23	2.43	1.73
	9.32	11.41	11.94	11.72	11.52	11.44	11.70	11.51	11.99
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	23.95	21.90	21.60	21.78	21.91	21.79	21.77	21.75	21.98

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

2026-09-02

Copy of Newspaper Publication

2026-09-02 - Sharda Motor Industries Limited has informed the Exchange about Copy of Newspaper Publication

2026-09-01

General Updates

2026-09-01 - Sharda Motor Industries Limited has informed the Exchange about General Updates

2026-09-01

Record Date

2026-09-01 - Sharda Motor Industries Limited has informed the Exchange that Record date for the purpose of Dividend & Annual General Meeting is 18-Sep-2026.

2026-09-01

Shareholders meeting

2026-09-01 - Sharda Motor Industries Limited has informed the Exchange regarding Notice of Annual General Meeting to be held on September 24, 2026

2026-08-25

Copy of Newspaper Publication

2026-08-25 - Sharda Motor Industries Limited has informed the Exchange about Copy of Newspaper Publication

2026-08-18

Analysts/Institutional Investor Meet/Con. Call Updates

2026-08-18 - Sharda Motor Industries Limited has informed the Exchange about Transcript

2026-08-11

Analysts/Institutional Investor Meet/Con. Call Updates

2026-08-11 - Sharda Motor Industries Limited has informed the Exchange about Link of Recording and Audio Recording

2026-08-11

Investor Presentation

2026-08-11 - Sharda Motor Industries Limited has informed the Exchange about Investor Presentation

2026-08-10

Outcome of Board Meeting

2026-08-10 - Sharda Motor Industries Limited has informed the Exchange regarding Outcome of Board Meeting held on August 10, 2026.

News

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