Sundram Fasteners Ltd has spent INR 238.25 crore on capital expenditure during the first half of the current financial year, out of a total allocation of INR 400 crore. Sundram Fasteners Ltd, the Chennai-based auto-component manufacturer, announced its financial results for the second quarter and half-year ending September 30, 2024, revealing increased profits and income in both periods. The company also highlighted its ongoing capital expenditure plan aimed at expanding its presence in the electric and hybrid vehicle sectors.
Sundram Fasteners Ltd reported a consolidated profit of INR 143.84 crore for the second quarter ending September 30, 2024, compared to INR 133.05 crore during the same period last year. Consolidated profits for the half-year ending September 30, 2024, rose to INR 286.53 crore, up from INR 261.79 crore in the previous year.
Q2 revenue
The company's consolidated total income for the second quarter reached INR 1,499.07 crore, an increase from INR 1,429.12 crore in the corresponding quarter of the last financial year. For the half-year ending September 30, 2024, consolidated total income climbed to INR 3,001.92 crore, compared to INR 2,844.39 crore in the previous year.
Sundram Fasteners Ltd has spent INR 238.25 crore on capital expenditure during the first half of the current financial year, out of a total allocation of INR 400 crore.
“These investments will help the company scale its business in electric vehicles and hybrid business segments”
Domestic sales
Domestic sales for the six-month period ending September 30, 2024, were INR 1,716.72 crore, as compared to INR 1,682.61 crore in the same period last year.
Sales to overseas customers for the half-year period ending September 30, 2024, reached INR 811.68 crore, up from INR 685 crore during the corresponding period of the previous year.
The company's Board of Directors declared an interim dividend of INR 3 per share (300 percent) for the financial year 2024-25.
