Annual report
Announcement under Regulation 30 (LODR)-Newspaper Publication 26 Aug - Newspaper publication of completion of dispatch of Notice and Annual Report of 34th AGM
Source: Bse
Sandhar Technologies Limited (SANDHAR)
Small CapIT stocks · Small cap · NSE
Sandhar Technologies Limited operates in Software Services, within the IT sector. Use the latest filing and company disclosures below to verify its revenue mix and current business drivers.
Data qualityFresh enough for analysisQuote updated 21 Oct, 04:45 am ISTDetails
Quote21 Oct, 04:45 am IST
Base fundamentals06 Oct 2026 · screener
Latest result16 Aug, 01:21 am IST
Score21 Oct, 04:30 am IST · v4.3-runtime-valuation
Tags02 May 2026
Coverage13/14 · 93%
Valuation2026-07-20 · Rf 6.8% · IT P/E 21.4 (n=204)
Technical timing lens
Trend score and candlestick chart
60BullishSMA20 -12.0% / mo · RSI oversold · MACD − · sector +14.5pp vs Nifty 500 (3M)
Stock trend: 33
Sector RS: 100
Sector 3M: +8.9% vs Nifty 500 -5.6%
IT FPI tailwindNot confirmed
Latest mapped FPI equity flow was not positive. View sector evidence
Technical chart
SANDHARD candles · FIT view+10.4%Latest close ₹520.45 on 2026-10-19
Bar
-3.5%
RSI
29
MACD hist
-0.99
52W pos
28%
2026-10-19O ₹539.25H ₹547.75L ₹516.40C ₹520.45Vol 1.0L sh
Up bar
Down bar
EMA 20
EMA 50
Volume + 20D avg
Result date
RSI(14)
MACD / signal
Market context
Relative performance and chart statistics
Adjusted completed-session prices, rebased to 100
SANDHARNifty ITNifty 500
- SANDHAR
- -13.5%
- Nifty 500
- -5.6%
- Nifty IT
- +8.1%
- Vs Nifty 500
- -7.9 pp
Chart stats
19 Oct 2026- From 52W high
- -31.8%
- 52W range position
- 28%
- ATR (14)
- 4.0%
- Volume vs 20D
- 1.04x
- Avg traded value
- ₹5.6 Cr
- 20D price channel
- ₹516.4 - ₹607.1
₹763.2
₹424 - ₹763.2
₹20.8
Latest completed session
20-session average
28.9% annualized volatility
Research snapshot
What the evidence says now
Mixed fundamentals, management evidence is still limited to a financial-only Trust Lite signal, price trend is neutral, and recent execution is consistent.
Suggested next step
Research, do not rush
The evidence is not strongly aligned. Compare peers and wait for a cleaner setup.
U-Score
Legacy · FAIR VALUE53
Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.
Latest result
Good67
Revenue +26.8% · PAT +32.1% YoY
Technical
Bullish60
Price trend and sector-relative-strength timing.
Valuation
Legacy model+53.0%
Legacy margin-of-safety estimate; the revised evidence label remains in shadow validation.
Trust
Limited evidence78
Financial-only signal; management claim evidence is not sufficient yet.
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Latest result
Quarter ended 30 Jun 2026
Good · 67/100Rev +27% YoY · PAT +32% YoY · +6% QoQ · operating leverage · margin compression
Filed 30 Jun 2026
Open results browser →| Metric | This quarter | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹1,382 Cr | +26.8% | +5.7% |
| EBITDA | ₹105 Cr | +28.0% | -18.6% |
| Operating margin | 8.0% | +0 bps | -200 bps |
| PAT | ₹37 Cr | +32.1% | -42.2% |
| PAT margin | 2.7% | +11 bps | -222 bps |
NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.
Fundamentals
Valuation
- P/E
- 15.90
- P/B
- 2.51
- EV/EBITDA
- 6.87
- Market Cap
- 3337.00Cr
Profitability
- ROE
- 11.50%
- ROCE
- 12.30%
- ROA
- 5.98%
- Dividend Y
- 0.72%
Growth (CAGR)
- Revenue 5Y
- 21.00%
- EPS 5Y
- 20.00%
- Revenue 3Y
- 19.00%
- EPS 3Y
- 26.00%
Balance Sheet
- Debt/Equity
- 0.86
- Interest Coverage
- 6.67×
- Altman Z
- 3.50
- Book Value
- 221.00
Cash Flow
- FCF Yield
- —
- FCF Positive Y
- 6/5
- OCF
- 210.00 Cr
- EPS TTM
- 34.54
Shareholding
- Promoter Hold
- 70.38%
- Promoter Pledge
- 0.00%
- Momentum 52W
- 39%
Financial History
Updated 21/10/2026
Revenue
₹ CrLatest: 1,382+5.7% vs prev
Net Profit
₹ CrLatest: 37.0-42.2% vs prev
ROE is shown only in the Annual view — quarterly equity data isn't published.
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Daily technical trend read
Mixed signalsSignals are conflicting — long-term trend down. RSI 29. Wait for confirmation.
- Price below SMA200 (long-term downtrend) — short-term bounces likely countertrend.
- SMA20 falling (~13.6% over last month) — short-term momentum negative.
- RSI(14) at 29 — oversold zone; bounce conditions.
- MACD below signal but histogram contracting — bearish momentum easing.
- 32% off 52W high · 23% above 52W low.
Mechanical read from the price + indicator series above. Not a recommendation — technical setups can reverse without warning, especially around earnings and macro events.
Nifty 500 leadership
Relative Strength & Trend Stage
59
RS percentile
Stage 1 Base / Transition
1M return
-13.4%
3M return
-13.5%
6M return
+6.9%
1Y return
-4.4%
RS 1D
-4
RS 20D
-15
Sector rank
#8
Industry rank
#39
Stage evidence
- Price is 12.4% below the 30-week proxy without full trend alignment.
- The 30-week proxy changed +1.5% over 20 sessions.
- The moving-average structure does not confirm Stage 2 or Stage 4.
50-DMA
price below
200-DMA
price below
Sector
improving
Industry
improving
Relative-strength line vs Nifty 500 (base 100)
261 observations
19 Oct 2026Value 119.38-2.49%
RS vs Nifty 500119
Valuation & peers
U-Score 53 · legacy U-Score band FAIR VALUE · valuation evidence and comparable companies
Valuation & peers
U-Score 53 · legacy U-Score band FAIR VALUE · valuation evidence and comparable companies
Growth at Value
Fundamental score breakdown
U band · FAIR VALUEValuation16/30
Growth18/25
Quality3/20
Balance Sheet7/15
Cash Flow4/10
Piotroski
8/9 (+5)
Penalties
0
Raw sum
53
Why this score?
Top U-Score contributors and drags from the latest stored fundamentals.
53/100 · legacy band FAIR VALUE
Positive drivers
- Piotroski is strong at 8/9.
- Fair-value margin of safety is positive at 53.0%.
- Growth contributes 18/25 to the score.
Main drags
- Quality is weaker at 3/20; verify the latest quarterly trend.
- Cash flow is weaker at 4/10; verify the latest quarterly trend.
- Balance sheet is weaker at 7/15; verify the latest quarterly trend.
Sector valuation model
IT valuation: PE and EV/EBITDA against growth and margins
Asset-light IT companies deserve valuation support only when growth, margins, and cash conversion hold up.
Primary lens
PE and EV/EBITDA relative to revenue growth, margins, and cash conversion.
Secondary checks
Deal pipeline, attrition, dollar revenue growth, FCF yield.
Main risk check
Low PE can reflect weak growth or margin pressure.
PE
15.9
PB
2.5
EV/EBITDA
6.9
ROE
11.5%
ROCE
12.3%
FCF Yield
—
Debt/Equity
0.9
MoS
+53.0%
Score movement
Stored run vs live recompute
This shows the stored score trend when snapshots exist, and also compares the latest stored nightly score with a live recompute from current fundamentals and price.
Stored run: 21 Oct 2026
v4.3-runtime-valuation
Final score
53
Previous: 53
Legacy U-Score band
FAIR VALUE
Previous: FAIR VALUE
Margin of safety
+53.0%
Previous: +53.0%
Score history
12 stored score snapshots. Latest stored move: +0 points.
21 Oct 2026
v4.3-runtime-valuation
53
53
53
53
53
53
53
53
53
53
53
53
Factor attribution
No pillar movement versus the latest stored run. Historical score trend will appear after snapshot storage is enabled.
Modelled fair value
Graham Number
₹414.43
-25.6% MoS
Growth-justified P/E
32.1
Growth-justified Value
₹1,108.73
+53.0% MoS
PEG
0.71
Comparable companies
Peers
Business-comparable peers in IT — ranked by industry, sub-sector, theme-tag overlap, market cap, and U-Score similarity. Green cells mark the best available peer metric in this table.
Ticker
Name
Why peer
Score
PE
ROE
MoS
Verdict
RSYSTEMS
Small
R Systems International Limited
IT Services / Digital
match 166
63
14.1
24.4%
+51%
UNDERVALUED
WELSPLSOL
Small
Welspun Specialty Solutions Limited
IT Services / Digital
match 166
30
122.0
4.8%
-252%
OVERVALUED
NIITMTS
Small
NIIT Learning Systems Limited
IT Services / Digital
match 165
67
12.0
15.5%
+67%
UNDERVALUED
MPSLTD
Small
MPS Limited
IT Services / Digital
match 164
62
23.3
29.7%
+31%
UNDERVALUED
DATAMATICS
Small
Datamatics Global Services Limited
IT Services / Digital
match 164
55
18.1
16.0%
+34%
FAIR VALUE
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business and thesis
Issuer presentation review pending
Sandhar Technologies Limited operates in Software Services, within the IT sector. Use the latest filing and company disclosures below to verify its revenue mix and current business drivers. The structured result feed currently covers the quarter ended 30 Jun 2026. Investor presentations and earnings-call PDFs will be added as issuer-backed evidence before management claims appear here.
Trust Score
78Limited evidence · low confidenceTrust Lite
Trust asks: does management behaviour match later outcomes? Higher is better, but confidence and evidence depth matter as much as the number.
Limited evidence: Claim history is still being built. It ranks around the 86th percentile of the scored universe and 81st percentile within IT. No major sub-score weakness stands out.
This is a financial-behaviour screen, not a claim-tested management reliability verdict.
Computed 05 Sept 2026
management-trust-v1
120 docs text-extracted · 42 concalls text-extracted
Score band
Limited evidence
Financial behaviour is scored, but management claims do not yet have enough outcome checks.
Relative rank
86th percentile
overall median 67 · IT: 81st pctile, median 69 · Small: 89th pctile, median 66
Evidence depth
Financial-only
120 documents have extracted text, but claim history is not strong enough yet.
Claim delivery
Outcome history still building
0 claims extracted · No contradicted claim yet
How to read this Trust Score
Limited evidence · low confidenceWhat it measures
Reliability of management and financial delivery, using financial behaviour only.
Confidence
Treat this as an early read until more concalls and outcomes are matched.
Investor use
Can support position sizing if valuation and trend also agree.
Read Trust alongside U-Score, result consistency, and technical trend. A cheap stock with weak Trust needs a larger margin of safety; a high Trust score does not make an expensive stock attractive by itself.
Forensic breakdown
Read low sub-scores as due-diligence warnings, not automatic sell signals.
Promoter
86
strong · holding, pledge, alignment
Cash flow
67
acceptable · profit to cash conversion
Balance sheet
81
strong · leverage and solvency
Discipline
68
acceptable · capital discipline
Results
95
strong · quarterly consistency
Trust positives
- ▸Promoter holding is 70.4%.
- ▸Promoter pledge is zero.
- ▸6 years of positive FCF.
- ▸4/4 latest quarters had positive YoY revenue growth.
Trust risks
- ▸No major Trust Lite risk flags.
Trust Lite uses financial behaviour only. Prefer claim-tested Trust when enough concall claims have later outcomes.
Continue researching Sandhar Technologies Limited
Important announcements & filings
Latest exchange and company disclosures found within the past two years.
Open source ↗
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 12 Aug - Copy of Published Un-Audited Financial Results
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 10 Jul - Submission of Public Notice to Equity Shareholders of the Company - Regarding transfer of Equity Shares to Investor Education and Protection Fund Account
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 4 Jul - Newspaper Publication of Postal Ballot Notice intimation to Shareholders
Source: Bse
Credit rating
Announcement under Regulation 30 (LODR)-Credit Rating 3 Jun - ICRA assigned AA-(Stable)/A1+ ratings to ₹885 crore of Sandhar borrowing facilities.
Source: Bse
Credit rating
Announcement under Regulation 30 (LODR)-Credit Rating 25 May - India Ratings reaffirmed Sandhar’s debt ratings: IND AA-/Stable and IND A1+ for INR8,850 million facilities.
Source: Bse
Annual report
Annual Report 2026
Source: Bse
Annual report
Annual Report 2026
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 8h - Newspaper Publication of Financial Result for the Quarter and Year ended 31st March, 206
Source: Bse
Annual report
Annual Report 2025
Source: Bse
All information is for study purposes only. For investment decisions, consult your financial advisor. See Playbook for methodology.