What Sandhar Technologies does

Sandhar Technologies Limited is an Indian Tier-1 automotive component manufacturer founded in 1987 by Jayant Davar and headquartered in Gurugram, Haryana. The company designs, develops, and manufactures a diversified portfolio of automotive components including locking and security systems, vision systems (mirrors), sheet metal stampings, operator cabins, zinc/aluminium/magnesium die castings, plastic injection moulded polymers, optoelectronics, commercial tooling, and assemblies. It is the world's largest manufacturer of two-wheeler locks (producing over 100,000 lock sets daily) and holds 28% global market share in seatbelt spool manufacturing. The company operates 40+ manufacturing facilities across India (Bawal, Hosur, Pathredi, Jaipur, Bengaluru, Chennai, Manesar, Indore) and international subsidiaries in Spain, Mexico, and Poland, serving 9,000+ employees.

The company generates revenue through direct supply of components to OEM manufacturers under long-term negotiated supply agreements, with two-wheeler OEMs contributing approximately 59% of sales and four-wheeler OEMs 18%. Key customers include Hero MotoCorp, TVS Motors, Royal Enfield, Honda Motorcycle & Scooter India, Honda Cars India, JCB, and Swaraj Mazda, with new customer acquisition targeting Kia Motors India. Pricing is quote-based on component specifications and volumes, and revenue mix is supplemented by aftermarket sales (helmets, starter motors, filters) and a growing off-highway vehicle segment. The company went public in April 2019 with a Rs 512 crore IPO, and has built a portfolio of joint ventures with global technology partners from Taiwan (Whetron Electronics) and South Korea (Daewha, Kwangsung, Winnercom, Hanshin, Jinyong) to access electronics, safety systems, connected car, and EV-related technologies.

Sandhar's business model centers on being a one-stop diversified Tier-1 supplier with multiple technology platforms under one roof, enabling cross-selling and content-per-vehicle expansion (content with Honda Cars India grew from Rs 8K to Rs 12K). It pursues inorganic growth through acquisitions (most recently Sundaram-Clayton's aluminium die casting business for Rs 163 crore in March 2025 via subsidiary Sandhar Ascast) and joint ventures, with capital deployment of approximately Rs 650 crore over six years for future capability buildout. The company demonstrates a 32% CAGR over 30 years, FY18 revenue growth of 20.8%, and FY25 revenue projection of Rs 4,100 crore with ~50 basis points expected margin improvement.

Name

Sandhar Technologies

Legal name

Sandhar Technologies Limited

Website

https://sandhargroup.com

Company type

Public

Founded year

1987

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Sandhar Technologies is an Indian Tier-1 automotive component manufacturer producing locking systems, die castings, sheet metal, polymers, and optoelectronics for OEMs across two-wheelers, four-wheelers, and off-highway vehicles globally.

Ownership category

akta.pro rank

Product category

Automotive Component Manufacturing

NAICS

Motor Vehicle Parts Manufacturing (3363), Motor Vehicle Electrical and Electronic Equipment Manufacturing (33632), Other Motor Vehicle Parts Manufacturing (336390)

SIC

Motor Vehicle Parts & Accessories (3714)

akta.pro primary industry

Body Panels, Doors, Hoods & Closures Manufacturing (IMACAGAH)

akta.pro secondary industries

Passenger Vehicle Electrical & Electronics Manufacturing (ICE) (IMACAAAK), Off-Highway Vehicle Cabs, Frames & Attachments Manufacturing (Cabs/Booms/Buckets/Implements) (IMACAFAL), Automotive Exterior Body Panels & Closures Manufacturing (Bumpers/Fenders/Hoods/Doors/Tailgates) (IMACAKAD)

Keywords

• Automotive component manufacturing
• Die casting components
• Automotive locking systems
• Vehicle vision systems
• Automotive optoelectronics

Headquarters

HQ city

Gurugram

HQ country

India

HQ region

Asia

Offices14 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Operations, Personnel, Technology or R&D, Infrastructure, Marketing or Sales

Revenue model

1. Automotive Components Manufacturing: Design, development and manufacture of automotive components including locking systems, vision systems, stampings, cabins, die castings, polymers, and electronics sold directly to OEM manufacturers
2. Aftermarket Sales: Products like helmets, starter motors, filters targeted at organized aftermarket segment

Pricing tiers

Go-to-market motion2 records

Distribution channels1 record

Marketing channels4 records

Core offering

Sandhar Technologies designs, develops, and manufactures a diversified portfolio of automotive components for OEMs across two-wheelers, three-wheelers, passenger vehicles, commercial vehicles, and off-highway vehicles. Core offerings include automotive locking and security systems (lock kits, latches, door handles, keyless entry), vision systems (rear view mirrors), sheet metal stampings, operator cabins and structural parts, zinc/aluminium/magnesium die castings, polymers (plastic injection moulded components), automotive optoelectronics (parking sensors, cameras, TPMS, lane departure warning), surface treatment services, commercial tooling, helmets, assemblies (wheel rims, handle bars), and fuel pumps/filters/wiper blades. The company operates 40+ manufacturing facilities worldwide and supplies directly to OEM assembly lines through long-term supply agreements.

Product overview

Sandhar Technologies is a diversified automotive component manufacturer offering a broad portfolio of products across multiple technology platforms. The core offerings span safety and security systems (automotive locking and security systems including lock assemblies, latches, door handles, keyless entry), vision systems (rear view mirrors), sheet metal components (stampings, cabins and fabrication), die casting (zinc, aluminium, and magnesium), polymers (plastic injection moulding), optoelectronics (parking sensors, cameras, TPMS, keyless entry), and assemblies (wheel rims, handle bars, clutch/brake panels). Additional offerings include painting/plating/coating services, commercial tooling, helmets, and fuel pumps/filters/wiper blades. The company operates manufacturing facilities in India, Spain, Mexico, and Poland, serving 2 wheelers, 3 wheelers, passenger cars, commercial vehicles, and off-highway vehicles. Sandhar positions itself as a comprehensive Tier 1 supplier with over 40 manufacturing plants and multiple joint ventures for technology partnerships in electronics and specialized components.

Differentiator

Problem solved

Functional benefit

Products and services

• Automotive Locking and Security Systems Comprehensive range of automotive security components including lock kits, latches, hinges, door handles, switches, and keyless entry systems manufactured for 2-wheelers, 3-wheelers, passenger cars, commercial vehicles, and off-road vehicles. Includes the world's largest two-wheeler lock production.
• Automotive Vision Systems Rear view mirrors and vision system components manufactured in 4 locations across India for 2-wheelers, 3-wheelers, passenger cars, and commercial vehicles.
• Stampings Sheet metal components manufactured in 2 locations across India for 2-wheelers, 3-wheelers, passenger cars, and commercial vehicles.
• Operators Cabins and Structural Parts Operator cabins for earth movers and construction equipment, plus canopies, housings, panels, switchboards, control cabinets, and hi-precision sheet metal components manufactured in 3 locations across India.
• Zinc Die Casting Zinc alloy die casting parts manufactured at 3 locations across India for 2-wheelers, 3-wheelers, passenger cars, and commercial vehicles. Capacity range from 15 to 125 ton.
• Aluminium Die Casting Aluminium PDC components manufactured at Bawal, Barcelona, Mexico, and Hosur for 2-wheelers, 3-wheelers, passenger cars, and commercial vehicles. Capacity range from 120 to 550 ton covering both high pressure and low pressure die casting.
• Magnesium Die Casting Magnesium die casting facility at Sandhar Pathredi with high dimensional accuracy and stability. Fully recyclable, helping improve fuel efficiency through light-weighting parts for automotive applications.
• Automotive Optoelectronics Electronic products including AVN panels, keyless entry systems, reverse park assist systems, blind spot detection, tyre pressure monitoring systems, rear parking sensors, cameras, lane departure warning, door open alert, rear cross traffic alert, and head-up display.
• Polymers Plastic injection moulded components manufactured at 3 locations across India for 2-wheelers, 3-wheelers, passenger cars, commercial vehicles, and non-automotive segments. Capacities range from 80 to 850 ton. Products include RVM housing, door handles, seat base, and instrument cluster housing.
• Painting, Plating and Coating Surface treatment solutions including powder coating, wet painting (manual and robotic), nickel-chrome plating, and reflective coating for mirror glass.
• Commercial Tooling Plastic moulds, zinc and aluminium PDC dies up to 1250 X 1000 mm and 10 tons at Manesar; stamping tools up to 3000 X 2400 X 1000 mm; forging dies, jigs and fixtures at Indore.
• Helmets Safety helmets including FX 30 Max and FX22 series, and OX 10/11 series. High-quality products akin to European standards with connected and voice assist technologies, distributed through the organized aftermarket.
• Assemblies Wheel rims and assemblies produced in 7 locations for 2-wheelers; handle bar assemblies produced in 2 locations for 2-wheelers; clutch and brake panels produced in Bengaluru for 2-wheelers.
• Fuel Pumps, Filters and Wiper Blades Electric fuel pumps, EFI fuel pumps, mechanical fuel pumps, starter motors, ACG, oil filters, and wiper blades for the Indian auto sector.

Quantifiable outcome

• World's largest manufacturer of two-wheeler locks - producing over 100,000 lock sets daily
• +3 more outcomes

Named customers9 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Eight partnerships are on record, tiered key, minor and core.

• Hanshin Corporation (South Korea)keyStrategic or Co-development Partner · 29 July 2019JV for manufacturing high-end data cables including radio cable, AV/NAVI cable, GPS/DMB cable, USB cable, AVM cable for EVs and PVs. Facility in Bengaluru. Targets automotive wiring harness market estimated at US$80 billion in 2019.
• Winnercom Co., Ltd. (South Korea)keyStrategic or Co-development Partner · 23 June 201950:50 JV for manufacturing and selling electronic parts for automotive including shark fin antenna, micro pole antenna for four-wheeler segment. Facility in Bengaluru.
• Amkin GroupminorStrategic or Co-development Partner · 1 January 2019JV for helmets and body protective parts for domestic aftermarket. High-quality products akin to European standards with connected and voice assist technologies.
• Kwangsung Corporation (South Korea)keyStrategic or Co-development Partner · 3 December 2018JV for manufacturing interior and exterior parts, plastic moulded parts and accessories for passenger and utility vehicles. Phase 1 includes glove boxes, sun-visors, anti-chipping products. Expected revenue of Rs 350 crore in two years.
• Whetron Electronics Co., Ltd. (Taiwan)coreStrategic or Co-development Partner · 21 June 201850:50 joint venture for manufacturing and selling automotive electronics including rear parking sensors, cameras, lane departure warning, blind spot detection, tyre pressure monitoring systems (TPMS). Initial target of 20-25% market share in Indian RPAS market. Facility at Pathredi, Rajasthan.
• Daewha Fuel Pump Ind. Ltd. (South Korea)coreStrategic or Co-development Partner · 18 May 201850:50 JV to supply fuel pumps, filters, wiper blades to Indian automotive OEMs. Daewha provides technology, know-how and parts sourcing; Sandhar handles manufacturing and local operations. Based in Gurugram.
• Daewha Fuel Pump (South Korea)coreStrategic or Co-development Partner · 15 May 2018Partnership with Daewha Fuel Pump (fully owned subsidiary of Korea's Daewha Group) for fuel system parts including electric fuel pumps, EFI fuel pumps, mechanical fuel pumps, starter motors, ACG, oil filters.
• Jinyong Electro-Mechanics (South Korea)coreStrategic or Co-development Partner · 5 September 201750:50 JV (Jinyong Sandhar Mechatronics) for manufacturing audio panel assemblies for Hyundai Mobis. Production at Chennai facility starting August 2017.

Scale indicators14 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Motherson Sumi Systems (Samvardhana Motherson International): India's largest automotive component manufacturer with a diversified Tier-1 supplier model across multiple product lines and geographies. Most directly comparable to Sandhar as a publicly traded Indian auto component supplier serving global OEMs with a mix of organic and JV-driven growth.
• Bharat Forge: India's largest forging and auto component manufacturer with global operations in metals, casting, and engineered components. Comparable to Sandhar in B2B Tier-1 OEM supply model, technology diversification (metallurgy, casting), and international expansion strategy.
• Endurance Technologies: Indian auto component manufacturer specializing in aluminium die casting, suspension, and transmission components. Closely comparable to Sandhar's die casting business (zinc, aluminium, magnesium) and Two-Wheeler OEM customer base.
• Uno Minda (Minda Industries): Indian Tier-1 supplier of automotive components including switches, sensors, lighting, and accessory electronics. Comparable to Sandhar's optoelectronics and locking systems businesses serving Indian passenger vehicle and two-wheeler OEMs.
• Varroc Engineering: Indian auto component manufacturer focused on lighting, electronics, plastic/polymer, and powertrain components. Comparable to Sandhar in polymer injection moulding, automotive electronics, and Indian OEM customer base.
• Mahindra CIE Automotive: Indian subsidiary of Spain's CIE Automotive, providing castings, stampings, and machined components to global OEMs. Comparable to Sandhar's metal forming, casting, and stamping operations serving automotive and off-highway customers.
• Sona Comstar: Indian auto component manufacturer specializing in drivetrain, sensing, and EV components with global OEM customers. Comparable to Sandhar as a publicly traded Indian auto component supplier transitioning toward EV and electronics content.
• Sundaram Fasteners: Indian manufacturer of high-tensile fasteners and precision components for automotive and industrial applications. Comparable to Sandhar in metal-forming components sold to Indian OEMs (notably the Sundaram group, former owner of the aluminium die casting business Sandhar acquired in 2025).
• Automotive Axles: Indian manufacturer of axles, brakes, and related components for commercial vehicles and off-highway equipment, a Kalyani Group-Meritor joint venture. Comparable to Sandhar's off-highway OEM business (JCB cabins and structural parts).

Broad incumbents

• Bosch India: Indian subsidiary of Bosch, supplying fuel injection, automotive electronics, and a broad portfolio of components to Indian OEMs. Comparable to Sandhar's optoelectronics and fuel-system JVs (Daewha) as a global Tier-1 incumbent with deeper R&D and software integration.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Subsidiaries7 records

Funding overview

Funding rounds2 records

Investors2 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A2 records

Investments1 record

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Sandhar Technologies