Sundram Fasteners Q2 net rises marginally to ₹118 crore
The Hindu
Sundram Fasteners Ltd. (SFL) standalone net profit for the second quarter rose marginally to ₹118 crore from ₹112 crore over the year earlier period.
Sundram Fasteners Ltd. (SFL) standalone net profit for the second quarter rose marginally to ₹118 crore from ₹112 crore over the year earlier period.
Revenue from operations was up ₹16 crore to ₹1,234 crore. Domestic sales stood at ₹862 crore against ₹802 crore and export sales contracted to ₹337 crore from ₹378 crore.
Total expenditure increased marginally by ₹5 crore to ₹1,081 crore, of which cost of raw material accounted for ₹577 crore (₹582 crore). SFL has a strong balance sheet with an all-time low debt-equity ratio of 0.11.
During the first half, SFL incurred a planned capital expenditure of ₹300 crore for FY24. In keeping with the large EV orders secured by the company, capital allocation and development of products are in accordance with the timelines planned by the company.
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