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Sundram Fasteners has reported a 45 per cent decline in its standalone profit after tax (PAT) at ₹71 crore for the quarter ended March 31, 2022, against a PAT of ₹130 crore in the same quarter a year ago.
The EBITDA for Q4 FY22 was ₹178 crore against ₹212 crore in the same period of the previous fiscal. Margins were impacted due to a continued increase in raw material prices and logistics costs, according to a statement.
The revenue from operations stood at ₹1,146 crore for the quarter against ₹1,079 crore a year ago, an increase of 6 per cent.
Domestic sales were at ₹750 crore, up 5 per cent from ₹713 crore. Exports grew 8.5 per cent to ₹366 crore as compared to ₹337 crore.
Full fiscal numbers
For the full fiscal year ended March 31, 2022, standalone net profit of the company grew 24 per cent to ₹407 crore against ₹328 crore in the previous year.
EBITDA for FY22 grew 25.6 per cent to ₹752 crore against ₹599 crore in FY21. EBITDA percentage on revenue from operations stood at 18 per cent against 19.5 per cent in the previous fiscal despite facing pressures due to an increase in commodity prices, as well as higher costs of logistics and other inputs. These were mitigated through cost reduction measures and price support from customers, the company said.
Revenue from operations was at ₹4,172 crore for FY22 against ₹3,065 crore in the previous year, a significant growth of 36 per cent.
HIgher domestic demand
Domestic sales were at ₹2,631 crore against ₹1,967 crore in FY21, a growth of 34 per cent, on the back of an increase in domestic demand. Exports sales grew 41 per cent to ₹1,421 crore against ₹1,010 crore.
“The company continues to post robust growth in export sales,” the statement said.
On a consolidated basis, the company’s net profit for FY22 was at ₹462 crore as compared to ₹363 crore in FY21, an increase of 27 per cent, the highest ever consolidated net profit recorded in a year.
Consolidated revenue from operations grew 34.5 per cent to ₹4,902 crore against ₹3,644 crore in FY21.
Sundram Fasteners spent ₹146 crore on capacity expansion in FY22 to meet an increase in the volume of business. The company transferred ₹150 crore to its reserves.
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