The Board of Directors of Sundram Fasteners Limited announced the unaudited Financial Results for the quarter and nine months ended December 31, 2021.
Highlights: Quarter ended December 31, 2021: FY 2021-2022
Standalone Financials
The revenue from operations was at Rs 1,024.25 crore for the quarter ended
December 31, 2021 as against Rs 942.20 crore 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 crore as against Rs 637.01 crore 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 crore, 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 crore as against Rs 205.86 crore. 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 crore and exchange loss of Rs.0.10 crore for the quarter ended December 31, 2021, was at Rs. 3.23 crore. The finance cost for the corresponding quarter in the previous year comprised of interest cost of Rs.4.94 crore and exchange gain of Rs. (2.16) crores which thus amounted to Rs. 2.78 crore. 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 crore as against Rs. 166.00 crore during the same period in the previous year.
The net profit for the quarter ended December 31, 2021 was at Rs 103.34 crore 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.
Consolidated Financials
The Company’s consolidated revenue from operations posted for the quarter ended December 31, 2021 was at Rs 1,207.53 crore as against Rs 1,108.69 crore during the same period in the previous year.
The consolidated net profit for the quarter ended December 31, 2021 was at
Rs 110.00 crore as against net profit of Rs. 143.70 crore during the same period in the previous year.
The consolidated earnings per share (EPS) for the quarter ended December 31, 2021 amounted to Rs. 5.15 and was Rs. 6.79 in the corresponding period last year.
Highlights: Nine months period ended December 31, 2021: FY 2021-2022
Standalone Financials
The revenue from operations was at Rs 3,026.13 crore for the nine months period ended December 31, 2021 as against Rs 1,985.78 crore during the same period in the previous year, a significant increase of 52.4%.
The net profit for the nine months period ended December 31, 2021 was at
Rs 336.05 crore as against net profit of Rs. 198.12 crore during the same period in the previous year.
Consolidated Financials
The Company’s consolidated revenue from operations posted for the nine months period ended December 31, 2021 was at Rs 3,562.22 crore as against Rs 2,371.19 crores during the same period in the previous year, recording a growth of 50.2%
The consolidated net profit for the nine months period ended December 31, 2021 was at Rs 354.40 crore as against net profit of Rs. 221.91 crore during the same period in the previous year.
Dividend
The Board at its meeting held today, declared an interim dividend of
Rs 6.45 per share (645%) for the financial year ending March 31, 2022 and the same will be paid to the members / beneficial owners, whose name appear in the register of members / register of beneficial owners maintained by the Depositories as on the Record Date i.e., February 22, 2022.