Dolat Capital: Sandhar Technologies Steadily Gaining Traction; On Its Road To Recovery
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Dolat Capital Report
Sandhar Technologies Ltd. reported flat YoY revenue growth on a consolidated basis at Rs 5 billion, led by revival in volumes across product segments due to ramp of production across original equipment manufacturers to cater to the festival season demand.
Consolidated Ebitda grew 3.4% YoY to Rs 549 million with normalization of operating activities.
As Hero MotoCorp Ltd. and TVS Motor Company Ltd. account for approximately 55% of overall revenue, we believe the company would be a key beneficiary of quicker recovery in two-wheeler led by rise in rural demand.
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