Sundram Fasteners Limited has reported its highest ever turnover and profit before tax (PBT) for the quarter ended June 30, 2024. The Board of Directors announced the unaudited financial results, highlighting significant growth in both consolidated and standalone financials.
Consolidated Financials
The company’s consolidated revenue from operations reached an all-time high of Rs. 1,497.67 crores, a 6.2% increase from Rs. 1,410.76 crores in the same quarter last year. The consolidated PBT also peaked at Rs. 191.61 crores. Net profit for the quarter stood at Rs. 142.69 crores, up 10.8% from Rs. 128.74 crores the previous year. The earnings per share (EPS) for the quarter amounted to Rs. 6.75.
Standalone Financials
Sundram Fasteners’ standalone performance mirrored the consolidated success. Revenue from operations hit a record Rs. 1,310.33 crores, a 7.7% increase from Rs. 1,216.95 crores last year. This growth was primarily driven by robust export sales, which surged by 21.5% to Rs. 422.65 crores. Domestic sales also saw an uptick, reaching Rs. 855.75 crores from Rs. 823.94 crores.
EBITDA for the quarter stood at Rs. 223.06 crores, with a margin of 17.0%. The company’s gross margin improved to 57.5% from 55.9%, supported by stable commodity prices and a favourable product mix. Finance costs decreased to Rs. 3.52 crores from Rs. 5.89 crores last year.
The standalone PBT reached a record Rs. 177.19 crores, marking a 17.4% increase from Rs. 150.86 crores. Net profit for the quarter was Rs. 131.64 crores, a 16.7% rise from Rs. 112.78 crores last year. EPS for the quarter was Rs. 6.26.
Capital Expenditure
The company incurred a capital expenditure of Rs. 148.37 crores for the quarter, in line with its planned investment for FY25.
Sundram Fasteners Limited’s impressive performance in Q1 FY25 underscores its strong market position and growth trajectory, driven by strategic investments and robust export growth.
