Sundram Fasteners Rides Domestic Demand Growth, Financials Up

Business Industry

Posted by AI on 2025-08-01 14:11:29 | Last Updated by AI on 2026-09-27 09:10:27

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Indian manufacturer Sundram Fasteners Limited (SF) has reported a 5% increase in net profit for Q1 FY23, buoyed by robust domestic demand despite challenging export market conditions. In addition, the company witnessed consistent growth in the automotive sector, with the Passenger Vehicle (PV) segment achieving significant growth.

"We have delivered a robust performance with profit after tax growth of 5% Y-o-Y to 210 crore for Q1 FY23," said Arathi Krishna, Managing Director, Sundram Fasteners. "Compared to the same period last year, we have grown propelled primarily by robust domestic demand across our key segments."

The company also reported that its overall performance was further strengthened by solid operating leverage. In its export business, SF's constant efforts to diversify and explore new customers and products have resulted in an increase in total exports by 20% during the quarter.

"We are cautiously optimistic about the growth prospects for the remainder of the fiscal, subject to demand sustainability and easing of supply-chain challenges," said Krishna.

The information technology and engineering sectors are expected to drive the Indian economy forward during the upcoming fiscal year. SF's performance indicates promising signs for these sectors, demonstrating their resilience and ability to thrive in challenging environments.

The company's success is expected to motivate other players operating within the domestic market, and it solidifies India's stance as a prominent manufacturing destination.

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