Sundram Fasteners Reports Consolidated Q2 Profits of Rs 143.84 Crore for September 2024

Sundram Fasteners Ltd, based in Chennai, announced a consolidated profit of Rs 143.84 crore for the quarter ending September 30, 2024. This is an increase from the Rs 133.05 crore profit reported in the same quarter last year. The company's total income for this quarter rose to Rs 1,499.07 crore, compared to Rs 1,429.12 crore during the same period in the previous year.

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For the half-year ending September 30, 2024, Sundram Fasteners' consolidated profits reached Rs 286.53 crore, up from Rs 261.79 crore a year ago. The total income for this half-year period also saw an increase, climbing to Rs 3,001.92 crore from Rs 2,844.39 crore in the prior year. These figures were shared by the company in a statement released on Tuesday.

Capital Expenditure and Sales Performance

The company invested Rs 238.25 crore in capital expenditure during the half-year ending September 30, 2024. This is part of a planned Rs 400 crore investment for the current financial year. These funds are intended to expand Sundram Fasteners' presence in electric vehicles and hybrid business sectors.

Domestic sales for the six-month period ending September 30, 2024, amounted to Rs 1,716.72 crore. This is slightly higher than the Rs 1,682.61 crore recorded during the same timeframe last year. Meanwhile, sales to international customers increased significantly to Rs 811.68 crore from Rs 685 crore in the previous year.

Dividend Announcement

In its recent meeting, Sundram Fasteners' Board declared an interim dividend of Rs 3 per share for the financial year 2024-25. This represents a dividend payout of 300 percent. The company's strategic investments and improved sales performance reflect its commitment to growth and shareholder value.

The company's financial performance highlights its robust growth trajectory and strategic focus on expanding its market presence both domestically and internationally.