Sundram Fasteners Limited reported its highest-ever revenue from operations for the quarter ended June 30, 2024, at Rs 1,310.33 crore, a 7.7% increase from Rs 1,216.95 crore in the same period last year. This growth was driven by strong exports.
Domestic sales for the quarter were Rs 855.75 crore, up from Rs 823.94 crore the previous year. Export sales grew 21.5% to Rs 422.65 crore, compared to Rs 347.99 crore last year. Arathi Krishna, Managing Director of Sundram Fasteners, said, “We are pleased to report our highest-ever revenue and profit before tax. Our strong numbers demonstrate the resilience of our business model and the demand for our products. We remain committed to delivering value to our stakeholders and driving sustainable growth.”
Earnings before interest, depreciation, and taxes (EBITDA) for the quarter were Rs 223.06 crore, up from Rs 197.66 crore last year. The EBITDA margin was 17%. The gross margin improved from 55.9% to 57.5% due to strong export performance, stable commodity prices, and a favorable product mix.
The company reported its highest-ever profit before tax (PBT) for the quarter at Rs 177.19 crore, a 17.4% increase from Rs 150.86 crore last year. Net profit for the quarter was Rs 131.64 crore, up 16.7% from Rs 112.78 crore. Earnings per share (EPS) were Rs 6.26.
Sundram Fasteners’ consolidated revenue from operations for the quarter was Rs 1,497.67 crore, up 6.2% from Rs 1,410.76 crore last year. Consolidated net profit was Rs 142.69 crore, a 10.8% increase from Rs 128.74 crore last year. The consolidated EPS for the quarter was Rs 6.75.
