Sundram Fasteners Ltd has registered its highest-ever net profit for the quarter ended March 31, 2024, at Rs 132.54 crore as against net profit of Rs 116.65 crore during the same period in the previous year, posting an increase of 13.6 percent.
The company’s revenue during the quarter stood at Rs 1,294.78 crore during the quarter ended March 31, 2024, as against Rs 1,242.77 crore during the same period in the previous year.
Domestic sales for the quarter ended March 31, 2024, were at Rs 846.26 crore as against Rs 822.25 crore during the previous year. Buoyed by favourable customer demand, the company has registered exports of Rs 385.28 crore for the quarter ended March 31, 2024, compared to Rs 339.15 crore in the previous quarter ended December 31, 2023. The export sales for the quarter ended March 31, 2023, were at Rs 380.77 crore.
SFL’s consolidated revenue stood at Rs 1,477.70 crore during the quarter ended March 31, 2024 as against Rs 1,451.46 crore during the same period in the previous year. The company’s consolidated net profit for the quarter ended March 31, 2024, was at Rs 134.41 crore as against net profit of Rs 127.47 crore during the same period in the previous year.
The consolidated earnings per share (EPS) for the quarter ended March 31, 2024, amounted to Rs 6.36 and was Rs 6.01 in the corresponding period last year.
Net profit for the year ended March 31, 2024, was at Rs 479.71 crore as against Rs 463.74 crore in the previous year.
Total revenue was at Rs 4,952.98 crores for the year ended March 31, 2024, as against Rs 4,951.44 crores in the previous year.
The domestic sales for the year ended March 31, 2024, were at Rs. 3,339.20 crores and the export sales were at Rs. 1,409.43 crore.
The earnings before interest, depreciation, and taxes (EBITDA) for the year ended March 31, 2024, were at Rs 825.37 Crores as against Rs 797.18 crore in the previous year. The company has improved its EBITDA margin on revenue from operations to 16.8% against 16.2%, supported by stability in the raw material prices and improvement in operational efficiency.
In a statement the company said that to drive long-term growth, the company has incurred Rs 343.45 crore towards capital expenditure as part of capacity expansion of existing lines of business and new projects.
These investments will significantly enhance the Company’s capability to meet customer demands in various segments, viz., ICE vehicles, PHEVs, EVs, etc.
The Company has financed the entire capital expenditure programme out of internal accruals without any incremental borrowings.