Sundram Fasteners Ltd
Sundram Fasteners Ltd (SUNDRMFAST)

Sundram Fasteners Ltd (SUNDRMFAST)

₹9091.34%

Key Stats

₹894.3
Day's Price Range
₹918.4
₹673.05
52-Week Price Range
₹993.7
1 Month Return6.9 %
3 Month Return20.91 %
1 Year Return-1.96 %

Company Financials

  • Quarterly
  • Annual
Value in ₹ crore

Peer Comparsion

PE
Rank 19
39.82
EPS
Rank 28
₹22.51
BVPS
Rank 29
₹124.76
Dividend Yield
Rank 15
0.59%
ROE
Rank 21
16.7%
Price To Book Ratio
Rank 21
7.18
Debt To Asset
Rank 18
0.4

Company Information

Sundram Fasteners Ltd a part of USD 8.5 billion TVS Group company is one of the leading auto component manufacturers in India. The company is engaged in the manufacture of fasteners powertrain components sintered metal parts iron powder cold extruded parts iron power cold extruded parts radiator caps and wind energy components. The company has 6 domestic subsidiaries and 5 overseas subsidiaries. Sundram Fasteners Ltd was incorporated on December 10 1962 as a private limited under the name Kasjax Engineering Ancillaries Pvt Ltd and the name was changed to Sundram Fasteners P Ltd on July 3 1965. In the year 1982 the company introduced new products in technical collaboration with Neumeyer Germany. They also signed another technical collaboration agreement with Sinter Metalwerke Germany to manufacture 2000 TPA automotive powder metal components.In the year 1992 the company set up an export oriented unit for manufacture of radiator caps oil filler caps and petrol filler caps for General Motors USA. Also Odin Metal Powders Ltd was amalgamated with the company. In the year 1993 a project for manufacture of socket head cap screws was set up at Pondicherry. In the year 1994 they entered into the power generation by installing a 2 MW Wind Farm at Muppandal in Tamil Nadu.In the year 1997 the company singed an agreement with General Motors USA for supplying their entire requirement of radiator caps. They set up a warehouse in Tory Michigan which being online with all GM plants dispatches supplies the moment an order is placed. During the year 199899 the company entered into a technical collaboration agreement with Dura Automotive Group USA for the manufacture of gear shifters and parking brake assemblies for automobiles. They commenced their manufacturing of Gear Shifters at their unit in Padi Tamilnadu. During the year 19992000 the company acquired the 51.09 of the equity capital of Autolec Industries. Also the name of subsidiary Sundram Numeric Ltd was changed to TVS Infotech Ltd with effect from October 13 2000.During the year 20002001 the company subscribed to the entire share capital of their new subsidiary namely TVS International Inc Michigan USA. During the year 200102 the TVS International Inc commenced their operations. Also the company opened a sales office in China. During the year the company set up a project at Pondicherry for manufacture of small forgings which will initially seek to cater to the automotive industry especially two wheelers. This project commenced their operations during the year 200203.During the year 200304 the company set up a factory in Haiyan Economic Development Zone HEDZ Haiyan County Jiaxin city Zhejiang Province in South China to manufacture and sell High Tensile Fasteners to the Chinese automobile industry. The project was implemented through a 100 subsidiary company named Sundram Fasteners Zhejiang Limited. This is the first project set up by an Indian engineering industry in China. Also TVS Autolec Ltd was amalgamated with the company during the year.In December 2003 the company acquired the precision forging business of Dana Spicer Europe Ltd UK for a total consideration of USD 2.64 million. The facility was acquired through a wholly owned subsidiary namely Cramlington Precision Forge Ltd UK. In February 2004 TVS Autolec Ltd increased their holding in RBI Autoparts Sdn Bhd Malaysia from 30 to 70. Consequent to amalgamation of TVS Autolec Ltd with the company RBI Autoparts Sdn Bhd became a subsidiary of the company.During the year 200405 Aplomb Investments Ltd a subsidiary company increased their stake in Upasana Engineering Ltd and made the company as a wholly owned subsidiary company. Also Aplomb Investments Ltd acquired 50.20 of equity share capital of Upasana Components Ltd. During the year Upasana Engineering Ltd and Upasana Components Ltd were amalgamated with Aplomb Investments Ltd with effect from April 1 2004. During the year Sundram NonConventional Energy Systems Ltd became a subsidiary of the company consequent to the combined shareholding of Sundram Fasteners Investments Ltd and Aplomb Investments Ltd. Also the company set up a new Research and Development Centre at Padi to design develop and test tools products and processes relating to manufacture of fasteners.During the year 200506 the company formed a subsidiary namely Sundram Bleistahl Ltd for setting up a 100 export oriented unit at Hosur Tamilnadu to manufacture sintered valve guides and valve seats. The company holds 76 of the Equity capital of the subsidiary whereas Bleistahl Produktions GmbH and Co KG holds 24. The company acquired 100 share capital of Peiner Umformtechnik GmbH Germany from Textron Deutscheland Beteilingungs GmbH Germany. Thus Peiner Umformtechnik GmbH became a wholly owned subsidiary company with effect from 1 January 2006. During the year the company acquired leasehold land in the Special Economic Zone Mahindra Worldcity near Chennai to set up projects for manufacture of a range of products mainly for export markets. RBI Autoparts Sdn Bhd Malaysia the subsidiary company was renamed as Sundram RBI Sdn Bhd. Also Aplomb Investments Ltd a subsidiary of the company was renamed as Upasana Engineering Ltd with effect from January 17 2006.During the year 200607 TVS International Inc Michigan USA ceased to be a subsidiary of the company. The company Certificated of Honour for excellence in export from Automotive Component Manufacturers Associations for 200506. Also the The Pondicherry unit received ACMA Silver Trophy for Excellence in Manufacturing from ACMA for 200506.During the year 200708 the company commissioned the facilities at Pantnagar Uttarakhand for manufacturing high tensile fasteners power metal parts water pumps and oil pumps. The commercial production of fasteners was commenced in December 2007 and the production of powder metal parts and water and oil pumps was commenced during the last quarter of the financial year 200708.In September 2007 the companys project in the Special Economic Zone Mahindra Worldcity near Chennai for manufacture of hubs and shafts for automotive gear boxes commenced commercial production. Also the company acquired sixty acres of dry land at Thandalachery near Chennai to set up a new project for high pressure moulding and machining of castings. The project will be in operation during the financial year 200910.During the year 200809 the company acquired 52.94 equity share capital of Sundram NonConventional Energy Systems Ltd a subsidiary of Sundram Fasteners Investments Ltd and Upasana Engineering Ltd wholly owned subsidiaries of the company. Consequent to the acquisition of the equity shares Sundaram NonConventional Energy Systems Ltd became the direct subsidiary of the company. Also the company formed a new subsidiary company namely Peiner Logistik GmbH to carry on logistic activity in Germany.On 4 June 2015 Sundram Fasteners announced that it has acquired 49.16 stake in TVS Infotech Limited from Sundram Fasteners Investments Limited a wholly owned subsidiary of the company. TVS Infotech an unlisted company is engaged in information technology business providing Enterprise Solutions for core industries like manufacturing automotive and distribution. On 3 November 2015 Sundram Fasteners announced that it has transferred its shares in Windbolt GmbH Germany for a consideration amounting to EUR 19999 to its joint venture partner Mr. Wolfgang Naumann. As a result the shareholding of the company in Windbolt GmbH Germany has been reduced from 24.99 to 9.9998. Consequently Windbolt GmbH ceased to be an associate of the company. The Board of Directors of Sundram Fasteners at its meeting held on 18 January 2016 approved transfer of equity shares representing 100 voting share capital of Cramlington Precision Forge Limited United Kingdom CPFL and Sundram Fasteners Zhejiang Limited China SFZL whollyowned subsidiaries of the Company held by the company to a new holding company to be formed in the United Kingdom which would also be a whollyowned subsidiary of the company for a consideration of approximately Rs. 250 crore to be settled by way of swap of shares of the new holding company.On 3 March 2016 Sundram Fasteners informed stock exchanges that Cramlington Precision Forge Limited United Kingdom the companys whollyowned overseas subsidiary has on 1 March 2016 redeemed the companys preferential shareholding of 500000 shares at par GBP 1 each equivalent to Rs 4.74 crore.On 7 April 2016 Sundram Fasteners informed stock exchanges that it has sold its entire shareholding in Peiner Umformtechnik GmbH TVS Peiner Services GmbH and PUT Grundstucks GmbH Peiner the wholly owned subsidiaries in Germany to AURORA Hanse IndustriekapitalBeteiligungs GmbH Hanse for consideration of EUR 1. The German subsidiary has been impacted adversely since the recession of 2008 and has not been performing to the expectation of Sundram Fasteners. Separately Sundram Fasteners has created a new subsidiary called Sundram International Limited based in the United Kingdom. The new company will be used as a vehicle as and when the opportunity arises to acquire technology companies abroad. On 12 April 2016 Sundram Fasteners informed stock exchanges that TVS Infotech Limited has become a directly subsidiary of the company. After subscription to the rights issue of TVS Infotech Sundram Fasteners holds 54.61 stake in TVS Infotech. TVS Infotech an unlisted company is engaged in information technology business providing Enterprise Solutions for core industries like manufacturing automotive and distribution. On 27 March 2017 Sundram Fasteners acquired 16.8 lakh equity shares 24 of Rs 10/ each from Bleistahl Produktions GmbH Co. KG Bleistahl in the share capital of Sundram Precision Components Limited SPCL Formerly Sundram Bleistahl Limited a subsidiary of the company for a cash consideration at Rs 31.45 per share. The pricing for shares conforms to the valuation norms prescribed under Foreign Exchange Management Act 1999. With this acquisition Sundram Fasteners has 100 equity stake in SPCL prior to acquisition the company was holding 76 and SPCL has thus become a wholly owned subsidiary of the company with effect from 27 March 2017.The Board of Directors of Sundram Fasteners at its meeting held on 24 May 2017 approved the scheme of amalgamation between Sundram Precision Components Limited SPCL a wholly owned subsidiary with Sundram Fasteners SFL and their respective shareholders. SPCL is engaged in the manufacture of parts for motor vehicle sintered parts such as valve guides valve seats and other parts catering to automotive industry. Sundram Fasteners crossed the milestone of posting quarterly net profit of over Rs 100 crore for the first time during the quarter ended 30 June 2018.During the year 201718 the Company has incurred Rs 217 crore towards capital expenditure on existing and new projects. The Companys division located in SEZ has won Excellence in Export Award Very Large Category from Automobile Component Manufacturers Association. During the FY2019 the company incurred Rs 442 crore towards capital expenditure on existing and new projects.During the year 201819 the company received awards for its various units. For its Fasteners Division it received TAFE Best Supplier Award for Quality Reliability 2018. The company received Supplier Quality Excellence Award from General Motors for the third consecutive year for its SEZ unit. For its Autolec Division it received the Diamond Award for 2018 from Navistar. The company also received Best practices in Human Resources award from Maruti Suzuki for the year.The Company has initiated sourcing of power from biomass based renewable source to the extent of 80 lakh units during the fi nancial year 201819. The Company has also installed roof top solar power plant of capacity 2.0 MWp which generated 14 lakhs units of solar power in FY 201819. Thus the total renewable power consumption aggregates to 1075 lakh units during the fi nancial year 201819 as against 990 lakh units in FY 201718. The higher use of renewable power sources has resulted in reduction of emission of Green House Gases equivalent to 97900 MT CO2.During the FY2020 the company incurred Rs 304.70 Crore towards capital expenditure on existing and new projects.During the FY2020 the Companys division located in SEZ has won Best of Best Suppliers Award from General Motors for the year 2019. The company also received Leverage the Core Award for the year 2018 from Dana Inc. covering Forgings Fasteners. Also the Radiator Caps Assemblies Division Received the Supplier Quality Excellence Award from General Motors for the year 2019. Also the Fasteners Division Received the Award for Best Safety Performance for the year 2018 from the Government of Tamil Nadu. Apart from wind energy the Company has also consumed power from roof top solar plant to the tune of 1.41 thus the total renewable energy consumption amounts to 48.14 of total energy consumed. This has resulted in a reduction equivalent to 80205 MT of CO2 during 20192020. Further addition to solar power roof top capacity is planned in the year 20202021.
OrganisationSundram Fasteners Ltd
HeadquartersChennai
IndustryCastings, Forgings & Fastners