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Sundram Fasteners Q4 Results: Net profit up 14%, announces final dividend

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In Short:

Sundram Fasteners, a leading auto-parts maker, reported a double-digit growth in net profit for the March 2024 quarter and a slight increase for FY24. The company also declared a second interim dividend of ₹4.17 per share. With strong operational performance, the company achieved its highest-ever consolidated EBITDA and profit after tax. Overall, net profit for Q4 was ₹133 crore and for FY24 was ₹480 crore. Total revenue for FY24 was ₹4,953 crore, with EBITDA at ₹825 crore. The company’s consolidated net profit also grew to ₹526 crore in FY24. A second interim dividend of ₹4.17 per share was recommended, with a total dividend of ₹6.85 per share for 2023-24. The company incurred a capex of ₹343 crore in FY24 for capacity expansion and transferred ₹200 crore to reserves.

Sundram Fasteners Records Double-Digit Growth in Net Profit

Exciting news from Sundram Fasteners! The leading auto-parts maker has announced a double-digit growth in its net profit for the March 2024 quarter and a marginal rise in FY24 net profit, while also declaring a second interim dividend of ₹4.17 per share.

Strong Performance Drives Record Numbers

Thanks to a strong operational performance, the company has achieved its highest-ever net profit at ₹133 crore in Q4, marking a 14% increase from the previous quarter. Total revenue for the March 2024 quarter stood at ₹1,295 crore, with domestic sales at ₹846 crore and exports at ₹385 crore.

Annual Results Highlights

For the full year of FY24, Sundram Fasteners reported a net profit of ₹480 crore and total revenue of ₹4,953 crore. The company’s EBITDA was higher at ₹825 crore, supported by stability in raw material prices and operational efficiency.

Consolidated Performance

On a consolidated basis, the company’s net profit for FY24 grew to ₹526 crore, the highest-ever quarterly profit. Total revenue reached ₹5,720 crore, with EBITDA at ₹941 crore, another record number. As part of the growth strategy, the company’s wholly-owned subsidiaries Sunfast TVS Ltd and TVS Engineering Ltd were merged with Sundram Fasteners, subject to approvals.

Dividend and Capex

The board has recommended a second interim dividend of ₹4.17 per share, bringing the total dividend for 2023-24 to ₹6.85 per share. Additionally, the company invested ₹343 crore in capex for capacity expansion and new projects in FY24, with ₹200 crore transferred to reserves.

It’s clear that Sundram Fasteners is on a path of growth and success, setting new records and milestones along the way!

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