Sundaram Fasteners

Auto parts maker posts highest-ever quarterly profit and announces a 25% higher interim dividend amid strong performance in domestic and overseas markets

HDFC Mutual Fund on Friday bought shares of auto components supplier Sundram Fasteners for Rs 137 crore through an open market transaction. According to the bulk deal data on the BSE, HDFC Mutual Fund purchased 13.70 lakh shares or 0.65 per cent stake in Sundram Fasteners, at an average price of Rs 1,000 apiece. This took the deal value to Rs 137.02 crore. After the stake buy, HDFC Mutual Fund's holding in Chennai-based Sundaram Fasteners rose to 5.02 per cent from 4.37 per cent. Details of the sellers of Sundaram Fasteners shares could not be ascertained on the exchange. Shares of Sundaram Fasteners went marginally lower to close at Rs 999.25 per piece on the BSE. In a separate bulk deal on the NSE, Singapore-based Cube Mobility Investments offloaded 79.25 lakh units or 0.59 per cent unitholding in Cube Highways Trust for Rs 101 crore through an open market transaction. As per the data, these units were disposed of at an average price of Rs 127.50 per unit, taking the deal valu

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

Auto-component maker Sundram Fasteners Ltd has reported a standalone net profit of Rs 116.19 crore, for the October-December 2023 quarter, the company said. The company had registered a standalone net profit of Rs 106.13 crore, during the corresponding quarter of last year. Net profits on a standalone basis for the nine-month period ending December 31, 2023 stood at Rs 346.65 crore as against Rs 347.99 crore registered year ago. The standalone total income during the quarter under review was Rs 1,204.92 crore, as against Rs 1,236.18 crore registered in the same period of last year. Total standalone income for the nine month period ending December 31, 2023 slipped to Rs 3,661.50 crore, from Rs 3,708.25 crore registered in the same period of last year. In a statement, the company said the revenue from operations was Rs 1,180.62 crore, for the quarter ending December 31, 2023 as against Rs 1,226.87 crore during the same period in the previous year. Domestic sales during the quarter

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Srinivasan will continue to be the Managing Director of the company post April, and will be designated as Chairman Emeritus

The company's total revenue from operations trebled to Rs 1,112.4 crore from 373.2 crore a year ago

Group has over 50 firms managed by various branches of the TVS family tree. With time, the members felt ownership of shares in various enterprises should be in sync with their management

Revenue from operations during the quarter was flat at Rs 889 cr; China operations back to normal

The consolidated total income for the quarter ending June 30, 2020 stood at Rs 381.80 crore as against Rs 1,185.24 crore registered a year ago

GM recognised 116 of its best suppliers from 15 countries that have consistently exceeded GM's expectations, created outstanding value or introduced innovations to the company

The new unit will provide further impetus to the company's export thrust through addition of products to its portfolio as well as diversifying its export customer base

Manufacturing sector veteran and Sundram Fasteners chairman Suresh Krishna said that the company is not shying away from investments since it wants to be ready when economy and auto sector bounce back

The new MD and JMD of Sundram Fasteners speak on how the company is placed to grow and face the challenges in the future