Sundram Fasteners Q2 net up 20%; firm plans EV foray in domestic market

Better profit number comes despite 54% spike in input costs; firm draws up Rs 250 cr capex plan for current financial year

Sundram Fasteners Ltd, a TVS Group company, has posted a 20 per cent rise in consolidated net profit for the quarter ended September 30, 2021 to Rs 124 crore, from Rs 104 crore during the July to September period in 2020-21.

The company’s revenue from operations during the period under review was up 40 per cent from Rs 889 crore in Q2 last fiscal to Rs 1,242 crore this year. The company has lined up a capital expenditure plan of Rs 250 crore for the current financial year and is betting on the electric vehicle segment in the domestic market