Sharda Motor Industries Ltd

SHARDAMOTR

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Market Cap

₹ 5,446 Cr

P/E

17.19

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Investment Checklist

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Performance

STEADY PERFORMER

Valuation

REASONABLE

Growth

STABLE

Profitability

HIGH MARGIN

Technicals

Bearish

Risk

MODERATE RISK

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Price

PE Ratio

Price

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Overview

Detailed Summary

Sharda Motor Industries Limited (SMIL) primarily manufactures and assembles auto components such as exhaust systems, catalytic converters, suspension systems, sheet metal components, and plastic parts for the automotive industry.

In FY26, SMIL reported consolidated revenue of INR787.2 crores for Q2, marking an 11% Y-o-Y growth, highlighting its steady performance in the automotive components market.

The company has significantly focused on scaling up its Lightweighting Vertical, targeting control arms and axle assemblies which is expected to drive future growth in the automotive sector.

Strategic technological partnership with Donghee Industrial Co. Ltd. positions SMIL to leverage advanced suspension technologies, broadening its product offerings in the automotive market.

Established a new manufacturing plant in Chakan to expand production capabilities, supporting its strategic initiatives in capacity expansion and market share enhancement.

Sector

Auto Ancillaries

Industry

Auto Ancillaries - Others

Market Cap

5,446 Cr

Volatility

High Risk

P/E Ratio

17.2

Industry P/E

37.3

PEG Ratio

0.1

P/B Ratio

4.8

52W High

1,258.00

52W Low

625.00

Sales CAGR

0.97%

7.94%

26.87%

10Y

11.06%

Profit CAGR

5.12%

24.61%

40.17%

10Y

27.86%

ROE

TTM

29.22%

28.17%

26.79%

10Y

24.40%

ROCE

TTM

37.58%

36.37%

34.66%

10Y

32.18%

Technicals

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Forecasts

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Price, EPS and Revenue Projections

Strong SellSellHoldBuyStrong Buy

Buy

Strong Buy

Buy

Hold

Sell

Strong Sell

updated on

Dec 03, 2025

Peers

Symbol	Price	Market Cap	P/E	P/B	Div Yield (%)	ROE (%)	ROCE (%)	ROA (%)
PRICOLLTD	632.95	7,391 Cr	38.85	6.52	0.00	16.79	21.27	8.35
LGBBROSLTD	1871.35	6,219 Cr	20.49	3.12	1.03	16.03	19.39	11.60
SUPRAJIT	459.55	6,205 Cr	38.86	4.55	0.66	11.71	14.15	5.24
FIEMIND	2289.60	6,129 Cr	27.34	5.67	1.29	21.02	26.80	14.49
SUBROS	850.10	5,648 Cr	35.15	4.88	0.30	13.87	18.51	8.03
SHARDAMOTR	930.10	5,446 Cr	17.19	4.77	1.71	29.22	37.58	17.66
SANDHAR	550.50	3,370 Cr	19.58	2.74	0.63	14.15	12.89	5.43

Financial Statements

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Consolidated Quarterly Results (in ₹ Crores)

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Total Figures

QoQ Changes

Total Figures

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Sales	654	763	689	703	685	711	690	750	756	787
Expenses	586	663	595	604	590	606	595	649	658	686
Operating Profit	68	99	94	99	96	105	95	101	98	101
OPM %	10.43	13.04	13.69	14.13	13.96	14.82	13.70	13.44	13.02	12.83
Other Income	19	20	23	31	20	15	22	29	46	18
Interest	0.51	0.56	0.94	0.20	0.48	0.49	0.58	2.38	1.09	1.09
Depreciation	12	13	14	14	13	14	15	17	14	16
Profit Before Tax	74	106	102	117	102	106	101	111	130	102
Tax %	25.46	24.36	25.87	24.37	25.01	25.82	25.14	24.13	23.16	26.70
Net Profit	55	80	76	88	77	79	75	84	100	75
EPS in Rs	9.62	13.95	13.23	15.38	12.95	13.70	12.82	14.62	17.41	13.01

Consolidated Profit Loss (in ₹ Crores)

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Total Figures

YoY Changes

Total Figures

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
Sales	1,225	1,204	1,140	863	1,737	2,255	2,700	2,809	2,837	2,907
Expenses	912	1,010	995	767	1,607	2,028	2,418	2,448	2,440	2,508
Operating Profit	313	194	145	96	129	228	282	361	396	399
OPM %	25.57	16.13	12.75	11.11	7.44	10.10	10.44	12.87	13.97	13.73
Other Income	3.90	16	21	24	21	17	45	93	86	112
Interest	7.60	2.13	0.05	0.93	1.43	1.48	1.91	2.21	3.93	4.54
Depreciation	50	44	41	40	44	41	46	53	58	59
Profit Before Tax	76	116	125	78	105	203	278	399	420	448
Tax %	26.70	32.89	30.66	26.41	25.35	26.47	25.12	24.96	25.01	24.48
Net Profit	56	78	87	58	79	149	208	300	315	338
EPS in Rs	—	—	16.49	9.89	11.61	25.99	36.29	52.18	54.08	57.86
Dividend Payout %	12.21	8.45	0.00	0.00	11.73	16.24	24.65	17.14	29.87	—

Consolidated Balance Sheet (in ₹ Crores)

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Total Figures

YoY Changes

Total Figures

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	5.95	5.95	5.95	5.95	5.95	5.95	5.95	5.95	5.95	5.74
Reserves	241	300	379	469	359	425	567	752	1,000	1,056
Borrowings	105	39	0.00	0.00	11	12	12	25	24	52
Other Liabilities	195	227	232	246	247	530	480	606	598	643
Total Liabilities	547	572	616	721	622	973	1,066	1,389	1,628	1,757
Fixed Assets	243	204	179	194	186	179	156	221	219	251
CWIP	3.86	0.71	0.36	0.27	0.87	0.11	0.05	0.03	0.03	8.49
Investments	47	100	136	121	40	41	78	30	668	740
Other Assets	253	267	301	406	395	753	832	1,138	741	757
Total Assets	547	572	616	721	622	973	1,066	1,389	1,628	1,757

Consolidated Cash Flows (in ₹ Crores)

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Total Figures

YoY Changes

Total Figures

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operating Activity	92	164	116	95	-64	148	192	-200	370	271
Cash from Investing Activity	-61	-84	-30	-42	73	-152	-62	191	-214	-68
Cash from Financing Activity	-43	-77	-70	-4.55	-1.00	-1.46	-9.29	-27	-54	-262
Net Cash Flow	-12	3.31	16	48	8.17	-5.60	120	-36	101	-59

Shareholdings

Shareholding History

Quarterly

Yearly

Quarterly

	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Jul 2025	Sep 2025
Promoters	73.20%	73.20%	73.20%	73.20%	73.20%	64.31%	64.31%	64.31%	64.31%	64.31%	64.31%	64.31%
FIIs	1.11%	1.21%	1.64%	1.79%	1.55%	2.43%	2.38%	2.16%	2.20%	2.26%	2.25%	2.46%
DIIs	0.12%	0.24%	0.29%	0.30%	0.42%	9.32%	11.41%	11.94%	11.72%	11.52%	11.43%	11.44%
Public	25.57%	25.35%	24.88%	24.71%	24.83%	23.95%	21.90%	21.60%	21.78%	21.91%	22.02%	21.79%
Total Shareholders	15,046	15,203	17,954	19,174	20,816	27,375	33,960	32,943	33,828	35,839	38,567	38,932

Market Transactions

Date	Party	Category	Type	Avg Price (₹)	Total Value (₹)	Quantity	Percent Traded
Jun 12, 2025	Ajay relan	Insider - Promoter & Director	Disposal	—	—	1,32,03,773	45.9
Sep 18, 2024	Aashim relan revised	Insider - Promoter Group	Disposal	1,800.00	10.26 Cr	56,989	0.19
Sep 18, 2024	Ajay relan revised	Insider - Promoter	Disposal	1,800.00	117.07 Cr	6,50,363	2.18
Sep 18, 2024	Mala relan revised	Insider - Promoter Group	Disposal	1,996.10	499.03 Cr	25,00,000	8.70
Sep 18, 2024	Mala relan revised	Insider - Promoter Group	Disposal	1,800.00	17.55 Cr	97,495	0.32
Jun 28, 2024	Mala relan	Insider - Promoter Group	Disposal	—	—	97,495	0.32
Jun 28, 2024	Mala relan	Insider - Promoter Group	Disposal	0.00	0.00 Cr	25,00,000	8.70
Jun 28, 2024	Ajay relan	Insider - Promoter	Disposal	0.00	0.00 Cr	6,50,363	2.18
Jun 28, 2024	Aashim relan	Insider - Promoter Group	Disposal	—	—	56,989	0.19
Jun 26, 2024	Hsbc mutual fund	Bulk	Buy	1,996.10	37.00 Cr	1,85,356	0.64

Projection

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Documents

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Reports

Presentations

Investor Presentation

Q2 FY26

Investor Presentation

Q1 FY26

Investor Presentation

Q4 FY25

Investor Presentation

Q3 FY25

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Q2 FY25

Investor Presentation

Q1 FY25

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Q4 FY24

Investor Presentation

Q3 FY24

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Financial Statements

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Consolidated Quarterly Results (in ₹ Crores)

View Standalone

Total Figures

QoQ Changes

Total Figures

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Sales	654	763	689	703	685	711	690	750	756	787
Expenses	586	663	595	604	590	606	595	649	658	686
Operating Profit	68	99	94	99	96	105	95	101	98	101
OPM %	10.43	13.04	13.69	14.13	13.96	14.82	13.70	13.44	13.02	12.83
Other Income	19	20	23	31	20	15	22	29	46	18
Interest	0.51	0.56	0.94	0.20	0.48	0.49	0.58	2.38	1.09	1.09
Depreciation	12	13	14	14	13	14	15	17	14	16
Profit Before Tax	74	106	102	117	102	106	101	111	130	102
Tax %	25.46	24.36	25.87	24.37	25.01	25.82	25.14	24.13	23.16	26.70
Net Profit	55	80	76	88	77	79	75	84	100	75
EPS in Rs	9.62	13.95	13.23	15.38	12.95	13.70	12.82	14.62	17.41	13.01

Consolidated Profit Loss (in ₹ Crores)

View Standalone

Total Figures

YoY Changes

Total Figures

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
Sales	1,225	1,204	1,140	863	1,737	2,255	2,700	2,809	2,837	2,907
Expenses	912	1,010	995	767	1,607	2,028	2,418	2,448	2,440	2,508
Operating Profit	313	194	145	96	129	228	282	361	396	399
OPM %	25.57	16.13	12.75	11.11	7.44	10.10	10.44	12.87	13.97	13.73
Other Income	3.90	16	21	24	21	17	45	93	86	112
Interest	7.60	2.13	0.05	0.93	1.43	1.48	1.91	2.21	3.93	4.54
Depreciation	50	44	41	40	44	41	46	53	58	59
Profit Before Tax	76	116	125	78	105	203	278	399	420	448
Tax %	26.70	32.89	30.66	26.41	25.35	26.47	25.12	24.96	25.01	24.48
Net Profit	56	78	87	58	79	149	208	300	315	338
EPS in Rs	—	—	16.49	9.89	11.61	25.99	36.29	52.18	54.08	57.86
Dividend Payout %	12.21	8.45	0.00	0.00	11.73	16.24	24.65	17.14	29.87	—

Consolidated Balance Sheet (in ₹ Crores)

View Standalone

Total Figures

YoY Changes

Total Figures

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	5.95	5.95	5.95	5.95	5.95	5.95	5.95	5.95	5.95	5.74
Reserves	241	300	379	469	359	425	567	752	1,000	1,056
Borrowings	105	39	0.00	0.00	11	12	12	25	24	52
Other Liabilities	195	227	232	246	247	530	480	606	598	643
Total Liabilities	547	572	616	721	622	973	1,066	1,389	1,628	1,757
Fixed Assets	243	204	179	194	186	179	156	221	219	251
CWIP	3.86	0.71	0.36	0.27	0.87	0.11	0.05	0.03	0.03	8.49
Investments	47	100	136	121	40	41	78	30	668	740
Other Assets	253	267	301	406	395	753	832	1,138	741	757
Total Assets	547	572	616	721	622	973	1,066	1,389	1,628	1,757

Consolidated Cash Flows (in ₹ Crores)

View Standalone

Total Figures

YoY Changes

Total Figures

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operating Activity	92	164	116	95	-64	148	192	-200	370	271
Cash from Investing Activity	-61	-84	-30	-42	73	-152	-62	191	-214	-68
Cash from Financing Activity	-43	-77	-70	-4.55	-1.00	-1.46	-9.29	-27	-54	-262
Net Cash Flow	-12	3.31	16	48	8.17	-5.60	120	-36	101	-59

Overview

Detailed Summary

In FY26, SMIL reported consolidated revenue of INR787.2 crores for Q2, marking an 11% Y-o-Y growth, highlighting its steady performance in the automotive components market.

The company has significantly focused on scaling up its Lightweighting Vertical, targeting control arms and axle assemblies which is expected to drive future growth in the automotive sector.

Strategic technological partnership with Donghee Industrial Co. Ltd. positions SMIL to leverage advanced suspension technologies, broadening its product offerings in the automotive market.

Established a new manufacturing plant in Chakan to expand production capabilities, supporting its strategic initiatives in capacity expansion and market share enhancement.

Sector

Auto Ancillaries

Industry

Auto Ancillaries - Others

Market Cap

5,446 Cr

Volatility

High Risk

P/E Ratio

17.2

Industry P/E

37.3

PEG Ratio

0.1

P/B Ratio

4.8

52W High

1,258.00

52W Low

625.00

Sales CAGR

0.97%

7.94%

26.87%

10Y

11.06%

Profit CAGR

5.12%

24.61%

40.17%

10Y

27.86%

ROE

TTM

29.22%

28.17%

26.79%

10Y

24.40%

ROCE

TTM

37.58%

36.37%

34.66%

10Y

32.18%

Peers

Symbol	Price	Market Cap	P/E	P/B	Div Yield (%)	ROE (%)	ROCE (%)	ROA (%)
PRICOLLTD	632.95	7,391 Cr	38.85	6.52	0.00	16.79	21.27	8.35
LGBBROSLTD	1871.35	6,219 Cr	20.49	3.12	1.03	16.03	19.39	11.60
SUPRAJIT	459.55	6,205 Cr	38.86	4.55	0.66	11.71	14.15	5.24
FIEMIND	2289.60	6,129 Cr	27.34	5.67	1.29	21.02	26.80	14.49
SUBROS	850.10	5,648 Cr	35.15	4.88	0.30	13.87	18.51	8.03
SHARDAMOTR	930.10	5,446 Cr	17.19	4.77	1.71	29.22	37.58	17.66
SANDHAR	550.50	3,370 Cr	19.58	2.74	0.63	14.15	12.89	5.43