Sundaram Fasteners registers Rs 5,000 crore consolidated revenue in FY23

Automotive component manufacturer Sundaram Fasteners on Friday announced that it had crossed consolidated revenue of Rs. 5,000 crore and net profit of Rs. 500 crore for the financial year ended 31st March 2023.

The company said in a statement that its subsidiaries at home and abroad recorded good performance during the year.

The company said, “The company’s consolidated revenue from operations deployed for the year ending March 31, 2023 amounted to Rs. 5,662.75 crore compared to Rs. 4,902.06 crore during the same period in the previous year, registering a growth of 15.52 percent.”

Similarly, consolidated net profit for the year was Rs.500.35 crore, as against Rs.461.83 crore recorded during the same period in the previous year.

Domestic sales recorded a growth of 22.95 percent on the back of increased demand.

“Despite headwinds in global markets, export sales for the year ended 31st March 2023 were Rs.1,528.95 crore as against Rs.1,421.09 crore during the previous year,” the company added.

The company incurred Rs. 212.94 crore as capital expenditure as part of capacity expansion of existing business lines and new projects.

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First published: May 05, 2023 | 6:56 PM ist