News: Sandhar Technologies (STL) posted muted set of numbers with topline coming at Rs675.1 crore down 1.2% QoQ. EBITDA came in at Rs54.6 crore down 13% QoQ with margins at 8.1% down 108 bps QoQ. Consequently, PAT came in at Rs12.7 crore down 27.4% QoQ.
View: STL begins year on soft note with muted margins on the plate. 2-W’s space constitute ~54% of its topline followed by PV space at ~24%. Quarterly performance falls short of expectation amidst upbeat management commentary on growth as well as margin profile.
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