Auto Parts & Equipment company Sundram Fasteners declares Q3FY22 result: Sundram Fasteners Limited's standalone Net Profit is at Rs 103.34 crores for the quarter ended December 31, 2021 Standalone Financials: Revenue from Operations at Rs 1,024.25 Crores Profit before Tax (PBT) at Rs 138.48 Crores Profit after Tax (PAT) at Rs 103.34 Crores Consolidated Financials: Revenue from Operations at Rs 1,207.53 Crores Profit before Tax (PBT) at Rs 147.06 Crores Profit after Tax (PAT) at Rs 110.00 Crores The revenue from operations was at Rs 1,024.25 crores for the quarter ended December 31, 2021 as against Rs 942.20 crores during the same period in the previous year, registering a growth of 8.7%. The domestic sales for the quarter ended December 31, 2021 were at Rs. 658.37 crores as against Rs. 637.01 crores during the previous year, an increase of 3.4%. The export sales for the quarter ended December 31, 2021 were at Rs. 335.95 crores as against Rs. 277.20 crores, posting an increase of 21.2%. The Company continues to post a robust growth in export sales The EBITDA for the quarter ended December 31, 2021 was at Rs. 180.02 crores as against Rs. 205.86 crores. The Company has posted EBITDA % on revenue from operations at 17.6% as against 21.9% during the same period in the previous year. The increase in commodity prices, as well as the costs of logistics and other inputs had a significant impact on the margins, which was mitigated through cost reduction measures and price support from the customers. The finance cost comprising of interest cost of Rs.3.13 crores and exchange loss of Rs.0.10 crores for the quarter ended December 31, 2021, was at Rs. 3.23 crores. The finance cost for the corresponding quarter in the previous year comprised of interest cost of Rs.4.94 crores and exchange gain of Rs.(2.16) crores which thus amounted to Rs. 2.78 crores. The Company has been able to contain the interest cost due to efficient working capital management and reduction in average borrowings. The Profit before Tax (PBT) for the quarter ended December 31, 2021 was at Rs.138.48 crores as against Rs. 166.00 crores during the same period in the previous year. The net profit for the quarter ended December 31, 2021 was at Rs 103.34 crores as against net profit of Rs. 124.24 Crores during the same period in the previous year. Earnings per share for the quarter ended December 31, 2021 amounted to Rs. 4.91 and was Rs. 5.91 in the corresponding period last year Result PDF
Highlights: Sundram Fasteners Limited Net Profit jumps by 23.4% at Rs. 120.16 crores compared to Rs 97.36 crores of the corresponding quarter last year. Revenue from Operations increased by 38.6% Profit before Tax (PBT) increased by 23.1% Profit after Tax (PAT) increased by 23.4% Revenue from Operations increased by 39.7% Profit before Tax (PBT) increased by 20.4% Profit after Tax (PAT) increased by 19.6% Standalone Financials: The revenue from operations was at Rs 1,063.07 crores for the quarter ended September 30, 2021 as against Rs 766.85 crores during the same period in the previous year, registering a growth of 38.6% despite operating in a challenging environment of the performance of vehicle manufacturers constrained by a global shortage of semi-conductors. The domestic sales for the quarter ended September 30, 2021 were at Rs. 663.26 crores as against Rs. 483.88 crores during the previous year, recording a growth of 37.1%. The export sales for the quarter ended September 30, 2021 were at Rs. 362.80 crores as against Rs. 260.28 crores, posting an increase of 39.4%. The Company continues to post a robust growth in export sales. The EBITDA for the quarter ended September 30, 2021 was at Rs. 200.95 crores as against Rs. 167.52 crores. The Company has posted EBITDA % on revenue from operations at 18.9% as against 21.7% during the same period in the previous year. During the quarter ended September 30, 2021, the adverse commodity prices as well as increase in costs of other inputs and logistics attributable to oil price increase impacted the margins. However, the effect of the same was mitigated through cost reduction measures and price support from the customers. The finance cost comprising of interest cost of Rs.1.71 crores and exchange loss of Rs.0.36 crores for the quarter ended September 30, 2021, was at Rs. 2.07 crores. The finance cost for the corresponding quarter in the previous year comprised of interest cost of Rs.5.46 crores and exchange gain of Rs.(5.40) crores which thus amounted to Rs. 0.06 crores. The Company has been able to contain the interest cost due to efficient working capital management. The Profit before Tax (PBT) for the quarter ended September 30, 2021 was at Rs.160.86 crores as against Rs. 130.65 crores during the same period in the previous year, an increase of 23.1%. The net profit for the quarter ended September 30, 2021 was at Rs 120.16 crores as against net profit of Rs. 97.36 Crores during the same period in the previous year, an increase of 23.4%. Earnings per share for the quarter ended September 30, 2021 amounted to Rs. 5.72 and was Rs. 4.64 in the corresponding period last year. Consolidated Financials: The Company's consolidated revenue from operations posted for the quarter ended September 30, 2021 was at Rs 1,242.26 crores as against Rs 889.33 Crores during the same period in the previous year, posting an increase of 39.7%. The consolidated net profit for the quarter ended September 30, 2021 was at Rs 123.91 crores as against net profit of Rs. 103.64 Crores during the same period in the previous year, an increase of 19.6%. The consolidated earnings per share (EPS) for the quarter ended September 30, 2021 amounted to Rs. 5.83 and was Rs. 4.87 in the corresponding period last year. Result PDF
Sundram Fasteners Limited's standalone Net Profit is at Rs 112.55 crores for the quarter ended June 30, 2021 Standalone Financials: The net profit for the Quarter ended June 30, 2021 was at Rs 112.55 crores as against net loss of Rs. (23.48) Crores during the same period in the previous year, despite facing the challenges caused by the pandemic. The revenue from operations was at Rs. 938.81 crores for the Quarter ended June 30, 2021 as against Rs. 276.73 crores during the same period in the previous year. The domestic sales for the quarter ended June 30, 2021 were at Rs 559.93 crores as against Rs. 132.85 crores during the previous year. The export sales for the quarter ended June 30, 2021 were at Rs 356.33 crores as against Rs. 135.02 crores during the same period in the previous year. The Company continues to post a robust growth in export sales. The EBITDA for the quarter ended June 30, 2021 was at Rs. 192.88 crores as against Rs. 12.99 crores. The Company has posted and sustained a higher EBITDA % on revenue from operations at 20.5%. This has been due to stringent cost control measures and strong operating performance. The finance cost for the quarter ended June 30, 2021, after accounting for exchange differences, was at Rs. 4.17 crores, as against Rs. 7.91 crores for the corresponding quarter in the previous year. The lower financial cost was due to sharp reduction in borrowings during the quarter attributable to the efficient working capital management and improved operating performance. The Profit before Tax (PBT) for the Quarter ended June 30, 2021 was at Rs. 151.13 crores as against Rs. (31.40) crores during the same period in the previous year. The Earnings per share for the Quarter ended June 30, 2021 amounted to Rs. 5.36 and was Rs. (1.12) in the corresponding period last year. Consolidated Financials The Company's Domestic and Overseas subsidiaries have registered an impressive performance during the quarter ended June 30, 2021. The Company's consolidated revenue from operations posted for the Quarter ended June 30, 2021 was at Rs 1,112.43 crores as against Rs 373.17 Crores during the same period in the previous year. The consolidated net profit for the Quarter ended June 30, 2021 was at Rs 120.49 crores as against net loss of Rs. (25.43) Crores during the same period in the previous year. The consolidated earnings per share (EPS) for the quarter ended June 30, 2021 amounted to Rs. 5.69 and was Rs. (1.27) in the corresponding period last year. Ms Arathi Krishna, Managing Director, Sundram Fasteners Limited, said, "Despite the challenges posed by the second wave of the pandemic during the first quarter of fiscal year 2022, we managed to deliver a strong operating performance by judiciously planning our manufacturing and at the same time ensuring the health and safety of our people." "The gradual opening up of the economy from the second quarter of FY 2021 helped create an upward trend in demand as OEMs ramped up their production levels, however the second wave of Covid-19 did cause pressure on the Indian automotive sector. This proved to be a challenge for several OEMs across the country, forcing them to cut production or suspend operations temporarily. Despite this, the cost and efficiency improvement measures enabled the Company to sustain its operating and net margins," Ms. Krishna added. Result PDF