Sharda Motor
SHARDAMOTR NSE
Sharda Motor
Consumer DiscretionaryNSE: SHARDAMOTR BSE: 535602 Auto Components
Key Fundamentals
MicrocapAuto ComponentsAutomobilesMarket Cap
₹5,276 Cr
Volatility
Moderate
P/E Ratio
16.32
EBITDA
₹505 Cr
Return on Equity
26.31%
Debt to Equity
0.04
Book Value
₹228.72
EPS
₹108.03
52W High
₹1,189.9
52W Low
₹700
Tapetide Score
Data-driven rating, 0–100. How it works →
Key Insights
Strengths
3- Company is almost debt free.
- Company has a good return on equity (ROE) track record: 3 Years ROE 28.1%
- Company has been maintaining a healthy dividend payout of 24.2%
Weaknesses
1- Promoter holding has decreased over last 3 years: -8.89%
Growth Rate
Revenue Growth
19.28% higher than
3Y
Net Income Growth
9.69% lower than
3Y
Cash Flow Change
34.13% higher than
3Y
ROE
-11.29% lower than
3Y
ROCE
-10.8% higher than
3Y
EBITDA Margin (Avg.)
-11.81% lower than
3Y
AI Analysis — Bull vs Bear
anthropic claude-opus-4.6 69d agoAI opinion · based on fundamentals
Risk medium
Sharda Motor Industries Ltd is a nearly debt-free auto component maker with a market cap of ₹5,198 Cr, trading at a PE of 14.9x with a 3-year ROE of 29%. The stock has declined 15% over the past year despite delivering 20% TTM sales growth and 10% TTM profit growth, while working capital days have expanded significantly from 14.5 to 78.1 days.
Bull Case 8
- Almost debt-free balance sheet provides financial resilience and flexibility for future capex or acquisitions
- Consistently high return on equity at 29% over both 3-year and 5-year periods, indicating efficient capital allocation
- Attractive valuation with PE of 14.9x, which is below the broader market multiple for a company delivering 29% ROE
- Strong TTM sales growth of 20% suggests healthy demand momentum and market share gains in the auto components space
- Compounded profit growth of 39% over 5 years demonstrates significant operating leverage and margin expansion
- Dividend yield of 3.62% with a healthy payout ratio of 24.2% offers meaningful income while retaining capital for growth
- Long-term stock CAGR of 27% over 10 years reflects sustained value creation through market cycles
- 10-year compounded sales growth of 14% indicates a durable business model with consistent top-line expansion
Bear Case 8
- Promoter holding has decreased by 8.89% over the last 3 years, which may signal reduced insider confidence or stake monetization
- Working capital days have deteriorated sharply from 14.5 days to 78.1 days, indicating potential cash conversion cycle issues or stretched receivables
- Stock has declined 15% over the past 1 year, underperforming the broader market and signaling negative sentiment
- TTM profit growth of 10% has decelerated compared to the 5-year CAGR of 39%, suggesting margin pressure or one-off benefits fading
- 3-year compounded sales growth of only 8% is modest relative to the 10-year average of 14%, indicating a potential slowdown in the medium term
- Price-to-book ratio of 3.92x implies the market is pricing in continued high returns, leaving limited margin of safety if ROE normalizes
- Consumer discretionary sector exposure makes the company vulnerable to economic slowdowns and reduced automobile production volumes
- 52-week high and low data unavailable, making it difficult to assess current price positioning within the trading range
This is AI-generated analysis, not financial advice. Do your own due diligence.
Quarterly Results
| Particulars | 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 | 654 | 763 | 689 | 703 | 685 | 711 | 690 | 750 | 756 | 787 | 882 | 972 | 1,011 |
| Expenses | 586 | 663 | 595 | 604 | 590 | 606 | 595 | 649 | 658 | 687 | 775 | 859 | 908 |
| Operating Profit | 68 | 99 | 94 | 99 | 96 | 105 | 95 | 101 | 98 | 100 | 106 | 113 | 103 |
| OPM % | 10% | 13% | 14% | 14% | 14% | 15% | 14% | 13% | 13% | 13% | 12% | 12% | 10% |
| Other Income | 19 | 20 | 23 | 31 | 20 | 15 | 22 | 29 | 46 | 18 | 19 | 25 | 28 |
| Interest | 1 | 1 | 1 | 0 | 0 | 0 | 1 | 2 | 1 | 1 | 1 | 1 | 1 |
| Depreciation | 12 | 13 | 14 | 14 | 13 | 14 | 15 | 17 | 14 | 16 | 17 | 17 | 15 |
| PBT | 74 | 106 | 102 | 117 | 102 | 106 | 101 | 111 | 130 | 102 | 107 | 120 | 115 |
| Tax % | 25% | 24% | 26% | 24% | 25% | 26% | 25% | 24% | 23% | 27% | 24% | 25% | 25% |
| Net Profit | 55 | 80 | 76 | 88 | 77 | 79 | 75 | 84 | 100 | 75 | 81 | 89 | 87 |
| EPS in Rs | 9.28 | 13.46 | 12.77 | 14.84 | 13.39 | 13.71 | 13.14 | 14.62 | 17.41 | 13.01 | 14.17 | 15.58 | 15.07 |
Profit & Loss
| Particulars | Mar 2012 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 751 | 927 | 1,042 | 1,155 | 1,140 | 863 | 1,737 | 2,255 | 2,700 | 2,809 | 2,837 | 3,397 | 3,652 |
| Expenses | 687 | 841 | 912 | 1,010 | 994 | 767 | 1,607 | 2,039 | 2,418 | 2,448 | 2,440 | 2,978 | 3,229 |
| Operating Profit | 65 | 87 | 130 | 145 | 145 | 96 | 129 | 216 | 282 | 361 | 396 | 419 | 423 |
| OPM % | 9% | 9% | 12% | 13% | 13% | 11% | 7% | 10% | 10% | 13% | 14% | 12% | 12% |
| Other Income | 5 | 19 | 4 | 16 | 21 | 24 | 21 | 29 | 45 | 93 | 86 | 108 | 90 |
| Interest | 9 | 12 | 8 | 2 | 0 | 1 | 1 | 1 | 2 | 2 | 4 | 4 | 4 |
| Depreciation | 31 | 44 | 50 | 44 | 41 | 40 | 44 | 41 | 46 | 53 | 58 | 63 | 65 |
| PBT | 29 | 50 | 76 | 116 | 125 | 78 | 105 | 203 | 278 | 399 | 420 | 459 | 444 |
| Tax % | 9% | -1% | 27% | 33% | 31% | 26% | 25% | 26% | 25% | 25% | 25% | 25% | — |
| Net Profit | 28 | 33 | 61 | 88 | 95 | 52 | 67 | 149 | 208 | 300 | 315 | 345 | 332 |
| EPS in Rs | 4.79 | 5.93 | 10.24 | 14.78 | 15.91 | 8.81 | 11.2 | 25.08 | 35.01 | 50.35 | 54.86 | 60.17 | 57.83 |
| Div. Payout % | 21% | 11% | 12% | 8% | 0% | 0% | 2% | 16% | 25% | 10% | 30% | 33% | — |
Balance Sheet
| Particulars | Mar 2012 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 11 |
| Reserves | 157 | 241 | 300 | 379 | 469 | 359 | 425 | 567 | 752 | 1,000 | 1,056 | 1,302 |
| Borrowings | 126 | 121 | 59 | 0 | 0 | 11 | 12 | 12 | 25 | 24 | 52 | 49 |
| Other Liabilities | 149 | 179 | 207 | 232 | 246 | 247 | 530 | 480 | 606 | 598 | 643 | 853 |
| Total Liabilities | 438 | 547 | 572 | 616 | 721 | 622 | 973 | 1,066 | 1,389 | 1,628 | 1,757 | 2,215 |
| Fixed Assets | 229 | 243 | 204 | 179 | 194 | 186 | 179 | 156 | 221 | 219 | 251 | 269 |
| CWIP | 11 | 4 | 1 | 0 | 0 | 1 | 0 | 0 | 0 | 0 | 8 | 14 |
| Investments | 14 | 47 | 100 | 136 | 121 | 40 | 41 | 78 | 30 | 668 | 740 | 1,136 |
| Other Assets | 184 | 253 | 267 | 301 | 406 | 395 | 753 | 832 | 1,138 | 741 | 757 | 796 |
| Total Assets | 438 | 547 | 572 | 616 | 721 | 622 | 973 | 1,066 | 1,389 | 1,628 | 1,757 | 2,215 |
Cash Flow
| Particulars | Mar 2012 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating | 55 | 92 | 164 | 116 | 95 | -64 | 148 | 192 | -200 | 370 | 271 | 363 |
| Investing | -59 | -61 | -84 | -30 | -42 | 73 | -152 | -62 | 191 | -214 | -68 | -370 |
| Financing | 5 | -43 | -77 | -70 | -5 | -1 | -1 | -9 | -27 | -54 | -262 | -100 |
| Net Cash Flow | 1 | -12 | 3 | 16 | 48 | 8 | -6 | 120 | -36 | 101 | -59 | -107 |
| Free Cash Flow | -5 | 90 | 150 | 98 | 37 | -77 | 124 | 178 | -289 | 340 | 211 | 324 |
| CFO/OP | 90 | 119 | 141 | 107 | 93 | -45 | 140 | 115 | -45 | 130 | 94 | 114 |
Ratios
| Particulars | Mar 2012 | 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 | 38 | 39 | 42 | 50 | 68 | 45 | 45 | 30 | 37 | 39 |
| Inventory Days | 41 | 47 | 37 | 40 | 48 | 67 | 36 | 27 | 34 | 34 | 36 | 40 |
| Days Payable | 72 | 71 | 84 | 85 | 90 | 129 | 121 | 84 | 87 | 84 | 94 | 109 |
| Cash Conversion Cycle | 15 | 16 | -9 | -6 | 1 | -13 | -17 | -13 | -8 | -21 | -22 | -30 |
| Working Capital Days | -39 | -25 | -15 | -1 | 2 | -4 | -11 | -9 | 48 | -19 | -16 | -18 |
| ROCE % | 13% | — | 24% | 30% | 28% | 17% | 25% | 38% | 40% | 41% | 38% | 34% |
Insights
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
Log in to view Sharda Motor insights
64 extracted metrics + investor summaries across FY06–FY26.
Documents
1
Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
14 Apr - Submitted Regulation 74(5) compliance certificate for quarter ended March 31, 2026. 14 Apr - Submitted Regulation 74(5) compliance certificate for quarter ended March 31, 2026.
2
Announcement Under Regulation 30
30 Mar - CIT(A) order dated March 27, 2026 reduces AY2022-23 demand from Rs4.30Cr to Rs5.22L; company will appeal. 30 Mar - CIT(A) order dated March 27, 2026 reduces AY2022-23 demand from Rs4.30Cr to Rs5.22L; company will appeal.
4
Announcement under Regulation 30 (LODR)-Award_of_Order_Receipt_of_Order
26 Feb - CIT(A) orders dated Feb 23, 2026 reduce tax demand from Rs84.89 Cr to Rs6.11 Cr; appeal to ITAT. 26 Feb - CIT(A) orders dated Feb 23, 2026 reduce tax demand from Rs84.89 Cr to Rs6.11 Cr; appeal to ITAT.
Frequently Asked Questions about Sharda Motor
What does Sharda Motor Industries Ltd do?
Sharda Motor Industries Ltd is primarily engaged in the manufacturing and assembly of Auto Components and White Goods Components.[1]
Where is Sharda Motor Industries Ltd (SHARDAMOTR) listed?
Sharda Motor Industries Ltd trades as SHARDAMOTR on the NSE and under code 535602 on the BSE.
Which sector does Sharda Motor Industries Ltd belong to?
Sharda Motor Industries Ltd is classified under the Consumer Discretionary sector, in the Auto Components industry.
What is the market capitalisation of Sharda Motor Industries Ltd?
Sharda Motor Industries Ltd has a market capitalisation of ₹5,276 Cr, which places it in the Mid Cap band.
What is the PE ratio of Sharda Motor Industries Ltd?
Sharda Motor Industries Ltd trades at a PE ratio of 16.32, on earnings per share of ₹108.03, against a book value of ₹228.72 per share.
What is the 52-week high and low of Sharda Motor Industries Ltd?
Over the last 52 weeks Sharda Motor Industries Ltd has traded between ₹700 and ₹1,189.9.
Does Sharda Motor Industries Ltd pay dividends?
Sharda Motor Industries Ltd has a dividend yield of 2.11%.
What is the Return on Equity (ROE) of Sharda Motor Industries Ltd?
Sharda Motor Industries Ltd reported a return on equity of 26.31%. Its debt-to-equity ratio is 0.04.
Company Information
Sharda Motor Industries Ltd is primarily engaged in the manufacturing and assembly of Auto Components and White Goods Components.[1]
Website shardamotor.com
CEO Mr. Aashim Relan
Employees 1,062
Listed 2015-09-03
Face Value ₹ 2
Issued Size 5,74,07,706
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