Sharda Motor Industries Limited reported new capital expenditure, multiple order wins in its lightweighting and export verticals, and revenue growth for the quarter ended 31 December 2025. The company announced plans to set up a new manufacturing facility in Uttarakhand with an investment of approximately INR 200 million, while also securing cumulative new annual orders worth USD 11.7 million during the quarter.
The company said during its earnings call that the new Uttarakhand facility will have modular and scalable capacity and is expected to reach high utilisation within FY27. “We are also augmenting our manufacturing footprint by putting up a new facility, in Uttarakhand with a capex of approximately INR20 crores, the capacity would be modular and scalable,” said Ashwani Maheshwari, Deputy Managing Director of Sharda Motor Industries Limited. He added that the plant “has been planned to meet incremental volumes and improve proximity to customers.”
In its lightweighting vertical, Sharda announced a control arms order with annual revenue of USD 3 million and a lifetime value of USD 15 million, with start of production (SOP) scheduled for Q3 FY27. The company also secured two orders for increased volumes on existing control arms and links programmes from two passenger vehicle original equipment manufacturers (OEMs), with a combined annual value of USD 5 million and lifetime value of USD 25 million. One of these programmes commenced SOP in Q3 FY26, while the other is scheduled for Q4 FY26.
The company reiterated that in Q2 FY26 it had announced additional lightweighting orders with a combined annual revenue of approximately USD 14 million and lifetime value of approximately USD 70 million, with SOP planned for Q1 FY28. “So the momentum in lightweighting vertical is strong,” Maheshwari said.
In exports, Sharda said it had secured new orders with an aggregate annual value of USD 3.7 million and lifetime value of USD 18.5 million from a North American engine and genset manufacturer, with SOP scheduled to commence in Q3 and Q4 FY27. The company had earlier announced an export order with annual value of USD 7 million and lifetime value of USD 40 million, for which samples were shipped in Q3 FY26 and SOP is expected from Q2 FY27. “We continue to see a healthy RFQ pipeline, supported by a dedicated export-focused team and expect new customer additions over the coming quarters,” Maheshwari stated.
For the quarter ended 31 December 2025, Sharda reported consolidated revenue of INR 8.82 billion, up 28 percent year-on-year. EBITDA stood at INR 1.06 billion, reflecting a 13 percent year-on-year increase, with EBITDA margin at 12.1 percent. Profit before tax before exceptional items was INR 1.12 billion, compared with INR 1.01 billion in the corresponding quarter last year, while profit after tax was INR 814 million.
For the nine months ended 31 December 2025, revenue stood at INR 24.25 billion, up 16 percent year-on-year. Profit before tax was INR 3.39 billion, including an exceptional gain of INR 224 million in Q1 FY26 and an exceptional loss of INR 45 million in Q3 FY26.
The company said its emission vertical contributes 88 percent of total revenue, while lightweighting accounts for 9 percent. It has filed 20 patents to date and has been awarded four patents, including one in the current quarter.
Sharda Motor Industries Limited manufactures emission systems, suspension and lightweighting components for passenger vehicles, commercial vehicles and off-highway applications, with operations across multiple manufacturing locations in India.
