Member companies of the TVS Group have filed a composite scheme of amalgamations and arrangements with the Chennai Bench of the National Company Law Tribunal (NCLT) as a follow-up to the December 10 m
Sundram Fasteners Ltd reports jump in Q3FY21 consolidated PAT to Rs. 142.68 crores
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SUNDRAM FASTENERS LTD. has reported financial results for the period ended December 31, 2020.
Financial Results (Q3 FY20-21) - QoQ Comparison
The company has reported total income of Rs.1118.64 crores during the period ended December 31, 2020 as compared to Rs.897.04 crores during the period ended September 30, 2020.
The company has posted net profit / (loss) of Rs.142.68 crores for the period ended December 31, 2020 as against net profit / (loss) of Rs.102.42 crores for the period ended September 30, 2020.
The company has reported EPS of Rs.6.79 for the period ended December 31, 2020 as compared to Rs.4.87 for the period ended September 30, 2020.
Sundram Fasteners profit climbs to record ₹124 crore
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February 04, 2021 22:26 IST
Precision parts maker plans to return annual capex to pre-COVID level of ₹300 cr. as volumes recover
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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
Sundram Fasteners Ltd (SFL) on Thursday reported a net profit of Rs 124.24 crore, up 20 per cent for the quarter ended December 31. Net profit was Rs 103.06 crore in the same period a year ago. The third quarter of last year had one-time reversal of deferred tax provision amounting to Rs 42 crore. If that is excluded, profit after tax (PAT) growth for the quarter under review would be 103 per cent. The total income rose by 35 per cent to Rs 945.41 crore from Rs 701.22 crore. The domestic sales registered a growth of 42.8 per cent at Rs. 637.01 crore for the quarter under review as against Rs. 446.05 crore during the same period previous year on the back of strong demand. The export sales came in at Rs. 277.2 crore as against Rs. 224.18 crore, an increase of 23.7 per cent.
TVS Group implements family arrangement
January 27, 2021
Holding company transfers equity in listed entities to the respective family investment firms
TVS family members, who had announced plans on December 10 last year to align ownership with management of the various group companies, on Wednesday agreed on the methodology to execute it.
In a notification to the stock exchanges, various listed companies of the group detailed how they will carry out the process a composite scheme of amalgamation and arrangement that will be filed before the Chennai Bench of the National Company Law Tribunal (NCLT).
As a first step, the two holding companies Sundaram Industries Pvt Ltd and Southern Roadways Pvt Ltd will be amalgamated into TVS Sundaram Iyengar & Sons Pvt Ltd, another holding company. At the same time, businesses managed by various family members will be demerged into companies that are majority-owned by the respective families.