Sundram Fasteners, engaged in manufacturing of auto parts has lined up INR 350 crore capital expenditure plans unfold over the following 5 years, for manufacturing superior automotive know-how parts, the corporate mentioned on Saturday. Apart from, the proposed funding plan, the city-based firm would make investments of INR 300 crore, over the following two years within the wind vitality section, an organization assertion mentioned right here.
Sundram Fasteners reported a 15.6% soar on its standalone revenue for the quarter ending June 30, 2022 at INR 130.11 crore. The corporate had registered standalone revenue at INR 112.55 crore throughout corresponding quarter earlier yr.
For the yr ending March 31, 2022 standalone revenue stood at INR 407.46 crore.
In a press release, the corporate mentioned it has chalked out capital expenditure plans of INR 350 crore unfold over 5 years for manufacturing superior automotive know-how parts like energy practice sub-assemblies for electrical autos and choose inside combustion engine autos.
“The investments proposed to be made on this course are anticipated to supply a significant thrust to the corporate’s exports within the years to come back”, the assertion mentioned.
The standalone whole revenue throughout the quarter beneath evaluate grew to INR 1,246.22 crore, from INR 948.35 crore registered yr in the past. For the yr ending March 31, 2022 the standalone whole revenue was at INR 4,198.18 crore.
In a press release, the corporate mentioned the home gross sales for the quarter ending June 30, 2022 had been at INR 798.50 crore as towards INR 559.93 crore registered earlier yr, up by 42.6%.
Exports throughout the quarter beneath evaluate grew to INR 405.76 crore from INR 356.33 crore, reported similar interval final yr.
“The corporate has registered a robust working efficiency and reported highest ever revenue regardless of a difficult surroundings posted by steady improve in uncooked materials costs, inflationary influence in oblique supplies and steep improve in freight prices and different inputs,” firm Managing Director, Arathi Krishna mentioned.
“We proceed to be cautiously optimistic in regards to the ensuing quarters”, she added.
Along with the INR 350 crore capital growth plan for manufacturing superior automotive know-how parts, the corporate mentioned it witnessed a major potential for development within the wind vitality enterprise.
“To fulfill the surge in demand, the corporate proposes to make further investments of INR 300 crore over the following two years”, it mentioned.
On the event of recent merchandise, the corporate mentioned continued its efforts in producing tower fasteners, valve physique housing and swash plate for hydraulic energy system, electrical water pumps for passenger utility car, ‘sintered pulleys’ for electrical scooters paving the best way for higher enterprise prospects in future.
In line with the corporate, its EBITDA for Q1 FY23 stood at INR. 214.86 crore as towards INR. 192.88 crore throughout the identical interval within the earlier yr, displaying a rise of 11.4%.
