Sundaram-Clayton gains after Q2 PAT rises 43% YoY

Sundaram-Clayton advanced 3.67% to Rs 4974.90 after the company's consolidated net profit jumped 43% to Rs 212.26 crore on a 32% rise in revenue from operations to Rs 8,962.55 crore in Q2 FY23 over Q2 FY22.

Automotive Vehicles & Parts business reported revenue of Rs 7,473.10 crore (up 30% YoY), revenue of the Financial Services business was Rs 961.07 crore (up 46% YoY) and that of Automotive components business was Rs 786.58 crore (up 27% YoY).

Total expenditure in the second quarter increased by 31% YoY to Rs 8,398.77 crore, due to higher raw material costs (up 26% YoY), higher employee expenses (up 38% YoY) and higher other expenses (up 21% YoY).

Profit before tax stood at Rs 584.75 crore in Q2 FY23, up by 52% from Rs 385.54 crore in Q2 FY22.

Sundaram-Clayton is a leading manufacturer of aluminium die-casting components. It supplies to major automotive OEMs including TVS Motor, the Cummins group, the Volvo group, Hyundai Motor India, the Daimler group, and to component suppliers such as Wabco India and the Visteon group.

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