+
Sundram Fasteners' net profit grows by 14.5% to Rs 1.38 billion
ECONOMY & POLICY

Sundram Fasteners' net profit grows by 14.5% to Rs 1.38 billion

Auto component major Sundram Fasteners (SFL) has reportedly posted a consolidated net profit of Rs 1.38 billion during Q1 FY23, up 14.5 per cent from Rs 1.21 billion that had been reported during the same period last year.

The company’s revenue from operations for the quarter ended June 30, 2022, came in at Rs 14.1 billion as against Rs 11.29 billion during the corresponding period of FY22, with an increase of 24.8 per cent. The consolidated earnings per share (EPS) for the quarter amounted to Rs 6.47 compared to Rs 5.74 in the corresponding period last year.

The company has reportedly said that it is planning to invest around Rs 3.5 billion over a period of 5 years for manufacturing advanced automotive technology components like powertrain sub-assemblies for electric vehicles (EV) and select internal combustion engine (ICE) vehicles. The investments proposed to be made in this direction are expected to provide a major thrust to the company’s exports in the years to come.

Auto component major Sundram Fasteners (SFL) has reportedly posted a consolidated net profit of Rs 1.38 billion during Q1 FY23, up 14.5 per cent from Rs 1.21 billion that had been reported during the same period last year. The company’s revenue from operations for the quarter ended June 30, 2022, came in at Rs 14.1 billion as against Rs 11.29 billion during the corresponding period of FY22, with an increase of 24.8 per cent. The consolidated earnings per share (EPS) for the quarter amounted to Rs 6.47 compared to Rs 5.74 in the corresponding period last year. The company has reportedly said that it is planning to invest around Rs 3.5 billion over a period of 5 years for manufacturing advanced automotive technology components like powertrain sub-assemblies for electric vehicles (EV) and select internal combustion engine (ICE) vehicles. The investments proposed to be made in this direction are expected to provide a major thrust to the company’s exports in the years to come.

Related Stories

Gold Stories

Next Story
Infrastructure Urban

NABARD Holds Seminar on Vigilance, Integrity and Good Governance

National Bank for Agriculture and Rural Development (NABARD) organised a seminar on “Vigilance: Strengthening Integrity and Good Governance” on 25 August 2026 at its Head Office in Mumbai as part of the ongoing Vigilance Awareness Campaign 2026 being observed from 17 August to 16 November 2026, with the theme “Probity for Prosperity."" The seminar was graced by Suresh N Patel, Former Central Vigilance Commissioner, Government of India, as the chief guest and keynote speaker.  The programme was attended by G S Rawat, Deputy Managing Director, Dr Ajay K Sood, Deputy Managing Dire..

Next Story
Equipment

XCMG Unveils World's First 14,000-Ton Ring Crane for Heavy Lifting

XCMG has announced that the first main unit of the world's first 14,000-ton ring crane has rolled off the production line, marking a historic breakthrough in ultra-heavy lifting technology. Jointly developed by XCMG and Sinopec Heavy Lifting & Transportation Co., Ltd., the crane will be the largest-capacity ring crane ever built, setting a new benchmark for major construction projects worldwide.The crane features a modular configuration comprising two main units that work in tandem. The first main unit has completed final assembly and can independently perform lifting operations. Once both..

Next Story
Infrastructure Urban

Thriveni Logistics orders 200 tip trailers from Jagdamba trailers

Jagdamba Trailers (JTPL), one of India’s growing trailer manufacturers, has secured a significant order for 200 Tip Trailers from Thriveni Transport and Logistics Pvt. Ltd., a leading mining and logistics company serving operations across India and overseas.The order, placed for iron ore transportation, is a major milestone for JTPL, particularly as the company secured the business after competing with more than 10 established trailer manufacturers. It also strengthens an already successful relationship between the two companies. Approximately one and a half years ago, Thriveni Transport and..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code