Sundram Fasteners Ltd. reported fourth-quarter consolidated net profit for the period ended March 31, 2024 rose 5.5% to ₹134.41 crore as compared with ₹127.47 crore in the year-earlier period.
Total revenue during the quarter marginally grew to ₹1,477.70 crore, as compared with ₹1,451.46 crore in the same period of last year. For FY24, the company’s net profit rose to ₹525.64 crore, as compared with ₹500.35 crore in the previous year, up 5%.
For the year consolidated revenue was slightly higher at ₹5,720.47 crore as against ₹5,707.60 crore in the previous year. The Board declared a second interim dividend of ₹4.17 per share, which together with the first interim dividend of ₹2.68 per share declared and paid in November 2023, would amount to a total dividend of ₹6.85 per share for FY24.
In FY24, the company had incurred ₹343.45 crore towards capital expenditure as part of the capacity expansion of existing lines of business and new projects.
“These investments will significantly enhance the company’s capability to meet customer demands in various segments such as electric vehicles, ICE vehicles. The company has financed the entire capital expenditure programmes out of internal accruals without any incremental borrowings,” the company said in a statement.
