Standalone Financials
· Revenue from Operations at Rs. 1,218.19 crores
· Profit before Tax (PBT) at Rs 149.46 crores
· Profit after Tax (PAT) at Rs 111.75 crores

The Board of Directors of Sundram Fasteners Ltd. announced the unaudited Financial Results for the quarter ended September 30, 2022.

Highlights: Quarter ended September 30, 2022: FY 2022-2023

Standalone Financials

The revenue from operations was at Rs. 1,218.19 crores for the quarter ended September 30, 2022 as against Rs. 1,063.07 crores during the same period in the previous year, registering a growth of 14.6%.

The domestic sales for the quarter ended September 30, 2022 were at Rs. 802.45 crores as against Rs. 663.26 crores during the previous year, posting a robust growth of 21%. The export sales for the quarter ended September 30, 2022 were at Rs. 377.78 crores as against Rs. 362.81 crores, an increase of 4.1%.

Despite the impact of heavy inflationary pressures experienced in the raw material costs, the company has sustained earnings before interest, depreciation and taxes (EBITDA) for the quarter ended September 30, 2022 at Rs. 193.22 crores as against Rs. 200.95 crores during the same period in the previous year.

The Profit before Tax (PBT) for the quarter ended September 30, 2022 was at Rs. 149.46 crores as against Rs. 160.86 crores during the same period in the previous year. The net profit for the quarter ended September 30, 2022 was at Rs. 111.75 crores as against net profit of Rs. 120.16 crores during the same period in the previous year.

Earnings per share for the quarter ended September 30, 2022 amounted to Rs. 5.32 and was Rs. 5.72 in the corresponding period last year.

Consolidated Financials

The company’s consolidated revenue from operations posted for the quarter ended September 30, 2022 was at Rs. 1,401.65 crores as against Rs. 1,242.26 crores during the same period in the previous year, an increase of 12.8%.

The consolidated net profit for the quarter ended September 30, 2022 was at Rs. 116.78 crores as against net profit of Rs. 123.91 crores during the same period in the previous year. The consolidated earnings per share (EPS) for the quarter ended September 30, 2022 amounted to Rs. 5.49 and was Rs. 5.83 in the corresponding period last year.

Highlights: Half-year ended September 30, 2022: FY 2022-2023

Standalone Financials

The revenue from operations was at Rs. 2,457.83 crores for the half-year ended September 30, 2022 as against Rs. 2,001.88 crores during the same period in the previous year, a significant increase of 22.8%. The net profit for the half-year ended September 30, 2022 was at Rs. 241.86 crores as against net profit of Rs. 232.71 crores during the same period in the previous year.

Consolidated Financials

The company’s Domestic and Overseas subsidiaries have registered a good performance during the half-year ended September 30, 2022.

The company’s consolidated revenue from operations posted for the half-year ended September 30, 2022 was at Rs. 2,811.77 crores as against Rs 2,354.69 crores during the same period in the previous year, recording a growth of 19.4%. The consolidated net profit for the half-year ended September 30, 2022 was at Rs. 254.81 crores as against net profit of Rs. 244.40 crores during the same period in the previous year.

Dividend

The Board declared an interim dividend of Rs. 3.57 per share (357%) for the financial year 2022-2023.

The Board further declared an additional special dividend of Rs. 2.00 per share (200%) to commemorate the 60th year of incorporation of the company.

The same will be paid to the members/beneficial owners, whose name appear in the register of members/register of beneficial owners maintained by the Depositories as on the Record Date, i.e., November 18, 2022.

Approval of the scheme of amalgamation of Sunfast TVS Ltd. and TVS Engineering Ltd. with Sundram Fasteners Ltd. and their respective shareholders

The Board approved the scheme of amalgamation of Sunfast TVS Ltd. and TVS Engineering Ltd. with Sundram Fasteners Ltd. and their respective shareholders.

The amalgamation will facilitate operational synergies, efficient allocation of capital and provide a platform for integration of the defence and aerospace business of the company.