Sundram Fasteners PAT zooms 178% to Rs 130 crore in Q4

Auto-component maker Sundram Fasteners, has reported its highest-ever profit after tax (PAT) of Rs 130.02 crore for Q4 of FY21, registering an increase of 178 per cent.

By:Updated: May 07, 2021 9:25 AM
Sundram Fasteners registers highest ever profits

Leading auto-component maker Sundram Fasteners, a part of the TVS Group, on Thursday reported its highest-ever profit after tax (PAT) of Rs 130.02 crore for the fourth quarter of FY21 as against Rs 46.80 crore in the same period the previous year, registering an increase of 178 per cent. The company’s revenue from operations increased to Rs 1,079.25 crore as against Rs 719.60 crore, an increase of 50 per cent.

The EBITDA for the quarter ended March 31, 2021, was at Rs 212.49 crore as against Rs 121.33 crore in the same period the previous year, showing an increase of 75 per cent. The company has posted and sustained a higher EBITDA percentage on revenue from operations at 19.7 per cent as against 16.9 per cent. This has been due to stringent cost control measures and improvement in operational efficiency, it said in a statement.

Domestic sales for the quarter were at Rs 713.16 crore as against Rs 447.68 crore in the corresponding period in the previous year, recording a growth of 59 per cent on the back of an increase in domestic demand. Export sales were at Rs 337.21 crore as against Rs 253.82 crore, an increase of 33 per cent.

For FY21, the company’s revenue from the operations stood at Rs 3,065.03 crore as against Rs 3,124.57 crore in the previous year. The net profit for the year was at Rs 328.14 crore as against Rs 314.04 crore in the previous year, it said.

The company incurred capital expenditure of Rs 140 crore as part of capacity expansion of existing lines of business. This was to augment capacities to meet the increase in the volume of business in tandem with production plans of key customers.

The board of directors has decided to pay a second interim dividend of Rs 3.40 per share (340 per cent), which, together with the first interim dividend of Rs 1.30 per share paid in November 2020, amounts to a total dividend of Rs 4.70 per share (470 per cent) for 2020-21.

Sundram Fasteners’ product range includes high-tensile fasteners, powder metal components, cold extruded parts, hot forged components, radiator caps, automotive pumps, gear shifters, gears and couplings, hubs and shafts, tappets and iron powder. Over the years, the company has acquired cutting-edge technological competencies in forging, metal forming, close-tolerance machining, heat treatment, surface finishing and assembly.

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