Sundram Fasteners profit climbs to record ₹124 crore
Updated:
Updated:
February 04, 2021 22:26 IST
Precision parts maker plans to return annual capex to pre-COVID level of ₹300 cr. as volumes recover
Share Article
Arathi Krishna.
Precision parts maker plans to return annual capex to pre-COVID level of ₹300 cr. as volumes recover
Sundram Fasteners Ltd. plans to return its annual capital expenditure to the pre-COVID-19 level of ₹300 crore in the next fiscal year after a good ramp up in sales volume helped it post a record standalone quarterly profit of ₹124 crore in the October-December, Managing Director Arathi Krishna said.
“The company, on an average, invested around ₹300 crore every year for three years,” Ms. Krishna told reporters on Thursday. “For FY21, we had to drop our capex. to ₹150 crore. Next fiscal, we are expecting go back to pre-COVID levels in terms of capex,” she said, adding that about 10% of that spending would be earmarked for t