Sandhar Technologies’ ₹8,400 Cr Smart Lock Opportunity | Will Auto Ancillary Stock Accelerate?

By NDTV Profit

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Sandhar Technologies has built a leadership position in automotive locking systems and rear-view mirrors, with more than 60% of its revenue coming from the two-wheeler segment. The Gurugram-based auto ancillary company operates 41 manufacturing facilities and has joint ventures with companies from Japan, Taiwan and South Korea. Its client base includes major OEMs such as Hero MotoCorp, TVS Motor, Tata Motors, Mahindra & Mahindra, Ather and JCB. One of the biggest opportunities ahead could be smart locks. Industry estimates peg Sandhar's addressable domestic smart-lock opportunity at around ₹8,400 crore, while the company already accounts for about 70% of two-wheeler locks in India. Management is also guiding for around ₹450 crore of PAT over the next 3–4 years. But can Sandhar convert its market leadership into sustained earnings growth? Or could debt, receivables, raw-material costs and execution risks weigh on the story? We decode Sandhar Technologies' business, growth opportuni

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