Sandhar Technologies reports 21% revenue growth despite margin pressures

Sandhar Technologies reported 21% consolidated revenue growth in Q1 FY26, reaching INR103 crores from the Sundaram acquisition.

However, EBITDA margin fell to 9.18% from 9.85% in Q1 FY25, hit by INR4.5 crores in foreign currency translation losses, INR3 crores in commodity price impact, and INR2 crores in one-time power costs in Mexico. The company lost approximately INR20 crores in business due to customer supply issues and construction sector changeover from BS IV to BS V.

Net debt stood at INR825 crores as of June. Sandhar is pursuing acquisitions with a QIP of up to INR500 crores.