Auto parts firm Sundram Fasteners posts 8% increase in Q2 net profit

Auto parts company Sundram Fasteners Ltd (SFL) has posted an 8 per cent rise in net profit during the second quarter of the current financial year to Rs 143.84 crore, compared to Rs 133.05 crore during the July to September quarter of 2023-24.

 

The rise in profit was mainly due to an increase in exports. The company’s consolidated revenue from operations for the quarter ended September 30 this year was Rs 1,486.04 crore compared to Rs 1,421.82 crore during the same period in the previous year, reflecting a rise of 4.5 per cent.

 

The company has incurred Rs 238.25 crore in capital expenditure for the half-year ended September 30, 2024, in line with its planned capital expenditure of Rs 400 crore for the financial year 2024-25. These investments will help scale operations in non-auto, electric vehicles, hybrid, and adjacent spaces.

 

The consolidated earnings per share (EPS) for the quarter ended September 30, 2024, amounted to Rs 6.78, compared to Rs 6.28 in the corresponding period last year.

 

The Board, at its meeting held on Tuesday, declared an interim dividend of Rs 3.00 per share (300 per cent) for the financial year 2024-25. The dividend will be paid to the beneficiaries on the record date of November 18.

 

On a standalone basis, domestic sales for the quarter were Rs 860.97 crore compared to Rs 859.37 crore during the previous year. Export sales for the quarter were Rs 389.02 crore compared to Rs 337 crore during the previous year, registering a growth of 15.4 per cent.

 

The earnings before interest, depreciation, and taxes (EBITDA) for the quarter ended September 30 were Rs 225.15 crore compared to Rs 205.69 crore during the same period in the previous year. Export-led growth and stable commodity prices contributed to the expansion of EBITDA margins from 16.6 per cent to 17.3 per cent.