The Board of Directors of Sundram Fasteners Ltd. announced the unaudited Financial Results for the quarter ended September 30, 2021.

Highlights: Quarter ended September 30, 2021: FY 2021-2022

Standalone Financials

The revenue from operations was at Rs. 1,063.07 crores for the quarter ended September 30, 2021 as against Rs. 766.85 crores during the same period in the previous year, registering a growth of 38.6% despite operating in a challenging environment of the performance of vehicle manufacturers constrained by a global shortage of semi-conductors.

The domestic sales for the quarter ended September 30, 2021 were at Rs. 663.26 crores as against Rs. 483.88 crores during the previous year, recording a growth of 37.1%.

The export sales for the quarter ended September 30, 2021 were at Rs. 362.80 crores as against Rs. 260.28 crores, posting an increase of 39.4%. The company continues to post a robust growth in export sales.

The EBITDA for the quarter ended September 30, 2021 was at Rs. 200.95 crores as against Rs. 167.52 crores. The company has posted EBITDA % on revenue from operations at 18.9% as against 21.7% during the same period in the previous year. During the quarter ended September 30, 2021, the adverse commodity prices as well as increase in costs of other inputs and logistics attributable to oil price increase impacted the margins. However, the effect of the same was mitigated through cost reduction measures and price support from the customers.

The finance cost comprising of interest cost of Rs. 1.71 crores and exchange loss of Rs. 0.36 crores for the quarter ended September 30, 2021, was at Rs. 2.07 crores. The finance cost for the corresponding quarter in the previous year comprised of interest cost of Rs. 5.46 crores and exchange gain of Rs. (5.40) crores which thus amounted to Rs. 0.06 crores. The Company has been able to contain the interest cost due to efficient working capital management.

The Profit Before Tax (PBT) for the quarter ended September 30, 2021 was at Rs. 160.86 crores as against Rs. 130.65 crores during the same period in the previous year, an increase of 23.1%.

The net profit for the quarter ended September 30, 2021 was at Rs. 120.16 crores as against net profit of Rs. 97.36 crores during the same period in the previous year, an increase of 23.4%.

Earnings per share for the quarter ended September 30, 2021 amounted to Rs. 5.72 and was Rs. 4.64 in the corresponding period last year.

Consolidated Financials

The company’s consolidated revenue from operations posted for the quarter ended September 30, 2021 was at Rs. 1,242.26 crores as against Rs. 889.33 crores during the same period in the previous year, posting an increase of 39.7%.

The consolidated net profit for the quarter ended September 30, 2021 was at Rs. 123.91 crores as against net profit of Rs. 103.64 crores during the same period in the previous year, an increase of 19.6%.

The consolidated earnings per share (EPS) for the quarter ended September 30, 2021 amounted to Rs. 5.83 and was Rs. 4.87 in the corresponding period last year.