Sundram Fasteners’ consolidated turnover has crossed the ₹5,000-crore mark for the first time in its 57-year history. The company achieved a turnover of ₹5,707.60 crore in 2022-23, compared with ₹4,941.40 crore in the previous year–an increase of 15.5 per cent.
The company’s board has declared a second interim dividend of ₹3.06 (306 per cent) for 2022-23. Earlier, in November 2022, the board had declared an interim dividend of ₹3.57 and a ‘special dividend’ of ₹2, for each share of face value of ₹1. The total dividend for 2022-23, therefore, works out to ₹8.63 (863 per cent).
On the NSE today, the Sundram Fasteners share closed at ₹1,045, which was ₹1.55 higher than the previous close. (The FY23 results were announced after market closed)
Consolidated net profit for the year was ₹500.35 crore, compared with ₹461.83 crore previously.
For the fourth quarter of last year (Jan-March, 2023), turnover and profits were ₹1,451.46 crore and ₹127.47 crore, respectively. These were 7.5 per cent and 18.6 per cent higher than in the corresponding quarter of the previous year.
Each Sundram Fasteners share earned ₹23.54 crore in 2022-23, compared with ₹21.74 crore in 2021-22. The company has equity share capital of ₹21.01 crore and reserves of ₹2,994.70 crore.