Sundram Fasteners’ excellent profit growth  

Sundram Fasteners Ltd. (SFL), part of the $6 billion TVS Group, has reported an excellent growth in net profit for the half year ended September 30, 2016 at Rs. 152.48 crores, as against Rs. 80.67 crores during the same period in the previous year – an increase of 89.0 per cent and for the second quarter at Rs. 76.93 crores as against Rs. 42.16 crores during the same period in the previous year.

sundaramfasteners-sureshkrishna
Mr. Suresh Krishna, Chairman & MD, SFL

The earnings before interest, depreciation and taxes for the half year has increased to Rs. 281.48 crores from Rs. 198.38 crores and for the second quarter to Rs. 141.51 crores from Rs. 103.67 crores, achieved during the same period in the previous year. The EBIDTA margin has moved up during the period due to volume growth, product mix and specific cost reduction initiatives of the company.

The company recorded revenue from operations of Rs. 1,451.21 crores for the half year ended September 30, 2016, as against Rs. 1,292.25 crores and for the second quarter Rs. 738.21 crores as against Rs. 660.31 achieved during the same period in the previous year.

Export sales for the half year totalled at Rs. 506.07 crores as against Rs. 456.48 crores during the same period in the previous year.

Domestic sales, net of excise duties, for the half year ended were at Rs. 919.94 crores as against Rs. 814.70 crores during the same period in the previous year, an increase of 12.9 per cent.

The earnings per share for the half year ended September 30, 2016, amounted to Rs. 7.26 (last year same period Rs. 3.84).

The Directors have declared an interim dividend of Rs. 1.70 per share (face value of Re 1 each).