Sundram Fasteners Q4 results: Net profit up 5%, total revenue rises 2%

Auto parts company Sundram Fasteners Ltd (SFL) has posted a 5 per cent rise in net profit during the fourth quarter of the financial year 2023-24 to Rs 134.41 crore as against a net profit of Rs 127.47 crore during the same period in the previous year.

The company’s consolidated revenue for the quarter ended March 31, 2024, was Rs 1,477.70 crore, up 2 per cent compared to Rs 1,451.46 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, compared to Rs 6.01 in the corresponding period last year.

The consolidated net profit for the year ended March 2024 was Rs 525.64 crore, up 5 per cent compared to a net profit of Rs 500.35 crore during the same period in the previous year. The company’s consolidated revenue for the year ended March 31, 2024, was Rs 5,720.47 crore as against Rs 5,707.60 crore during the same period in the previous year.

Buoyed by favourable customer demand, the company 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 Rs 380.77 crore.

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. The company has financed the entire capital expenditure programme out of internal accruals without any incremental borrowings.

The directors have declared a second interim dividend of Rs 4.17 per share (417 per cent), which, together with the first interim dividend of Rs 2.68 per share declared and paid in November 2023, amounts to a total dividend of Rs 6.85 per share (685 per cent) for the financial year 2023-24.