Sundram Fasteners posts 19% rise to Rs 127.47 crore in Q4 net profit

Auto component major Sundram Fasteners (SFL) has posted a 19 per cent rise in consolidated net profit during the fourth quarter of the financial year 2022-23 to Rs 127.47 crore as against net profit of Rs 107.43 crore during the same period in the previous year.

The company’s consolidated revenue from operations posted for the quarter ended March 31 this year was at Rs 1,447.95 crore as against Rs 1,339.84 crore during the same period in 2021-22. The consolidated earnings per share (EPS) for the quarter ended March 31, 2023 amounted to Rs 6.01 and was Rs 5.07 in the corresponding period last year.

On a standalone basis, the domestic sales for the quarter ended March 31were at Rs 820.71 crore as against Rs 749.66 crore during the previous year, posting an increase of 9.48 per cent. The export sales for the quarter were at Rs 380.77 crore as against Rs 366.01 crore, a growth of 4.03 per cent.

For the entire financial year 2022-23, the company’s net profit was seen up at Rs 500.35 crore as against net profit of Rs 461.83 crore during the same period in the previous year. The company’s consolidated revenue from operations posted for the year ended March 31 was at Rs 5,662.75 crore as against Rs 4,902.06 crore during the same period in the previous year, recording a growth of 15.52 per cent.

The Company incurred Rs 212.94 crore towards capital expenditure as part of capacity expansion of existing lines of business and new projects. The capital expenditure was incurred to augment capacities for meeting the increase in the volume of business in tandem with production plans of key customers. The directors have declared a second interim dividend of Rs 3.06 per share (306 per cent), which, together with the first interim dividend of Rs 3.57 per share and a special dividend of Rs 2.00 per share (for commemorating the 60th year of Incorporation) declared and paid in November 2022, would amount to a total dividend of Rs 8.63 per share (863 per cent) for the financial year 2022-2023.