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Results
15-Aug-21
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Analysis
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Sundram Fasteners
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Strong operating performance
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Consolidated net
sales (including other operating income) of Sundram Fasteners for the quarter
ended Jun 2021 has increased 198% to Rs 1112.43 crore. Operating profit margin has
jumped from 4.1% to 18.0%, leading to 1224% rise in operating profit to Rs
200.45 crore. Raw material cost as a % of total sales (net of stock
adjustments) increased from 35.06% to 41.43%. Employee cost
decreased from 25.12% to 10.21%. Other expenses fell from 35.30% to
31.04%.
Other income
rose 98% to Rs 17.13 crore. PBIDT rose 815% to Rs 217.58
crore. Provision for interest fell 32% to Rs 7.75 crore. PBDT
rose 1,599% to Rs 209.83 crore. Provision for depreciation rose 5%
to Rs 46.61 crore. Profit before tax reported profit of Rs 163.22
crore compared to a loss of Rs 31.95 crore.
Share of
profit/loss were nil in both the periods. Provision for tax was
debit of Rs 42.73 crore, compared to credit of Rs 6.52 crore. Thus
PAT was a profit of Rs 120.49 crore compared to a loss of Rs 25.43 crore in the
corresponding previous period. Minority interest decreased 33% to Rs 0.85
crore. Net profit attributable to owners of the company was Rs
119.64 crore compared to loss of Rs 26.7 crore.
Management
Commentary
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,"
Promoters’ stake
was 49.53% as of 30 June 2021, compared to 49.53% as of 30 June 2020.
Sundram Fastners: Consolidated Results
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2106 (3)
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2006 (3)
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Var. (%)
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2103 (12)
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2003 (12)
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Var. (%)
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Sales
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1112.43
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373.17
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198
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3644.29
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3723.23
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-2
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OPM (%)
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18.0
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4.1
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18.2
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15.9
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OP
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200.45
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15.14
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1224
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664.12
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592.90
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12
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Other inc.
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17.13
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8.63
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98
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27.40
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28.09
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-2
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PBIDT
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217.58
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23.77
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815
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691.52
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620.99
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11
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Interest
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7.75
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11.42
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-32
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26.13
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57.90
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-55
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PBDT
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209.83
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12.35
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1599
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665.39
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563.09
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18
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Dep.
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46.61
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44.30
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5
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179.69
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169.92
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6
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PBT
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163.22
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-31.95
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LP
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485.70
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393.17
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24
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EO
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0.00
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0.00
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0.00
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0.00
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PBT after EO
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163.22
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-31.95
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LP
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485.70
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393.17
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24
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Taxation
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42.73
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-6.52
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-755
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122.99
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66.64
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85
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PAT
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120.49
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-25.43
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LP
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362.71
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326.53
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11
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Minority Interest (MI)
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0.85
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1.27
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-33
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3.53
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1.64
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115
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PAT after MI
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119.64
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-26.70
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LP
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359.18
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324.89
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11
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EPS (Rs)*
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#
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#
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17.1
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15.5
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* EPS is on current equity of Rs 21.01 crore, Face value of Rs 1
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# EPS is not annualised due to seasonality of business
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** Variance could not be calculated as no previous period figures
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Figures in Rs crore
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Source: Capitaline Corporate Database
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Previous News |
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Analyst Meet / AGM
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18:06
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(
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(
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(
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(
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08-Feb-21
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(
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