Overseas debt and translation losses
Overseas debt has increased due to translation losses from INR depreciation and restructuring of bill discounting into clean debt, which may pressure cash flows.
SANDHARTECHNOLOGIES / Q3-FY26 / risks
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Sandhar Technologies · Material risks, their source context, and severity in the latest available quarter.
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Material risks this quarter
medium
Slow adoption of smart locks
Management noted that smart lock adoption is slower than expected due to high prices, with volumes likely to remain below 2-3% of the market in FY27.
Aluminium price volatility
Elevated aluminium prices could impact margins in the overseas die-casting business, though pass-through agreements are in place.
Dependence on Honda Cars for four-wheeler segment
The four-wheeler segment revenue declined due to lower volumes from Honda Cars, which may continue if Honda's market share does not recover.