Sundram Fasteners Ltd

Sundram Fasteners is primarily engaged in manufacture and sale of bolts and nuts, water and oil pumps, sintered products, cold extruded components, hot & warm forged parts, radiator caps and other parts which has applications mainly in automobile industry

Pros:
Company has good consistent profit growth of 30.63% over 5 years
Company has a good return on equity (ROE) track record: 3 Years ROE 28.36%
Company has been maintaining a healthy dividend payout of 25.48%
Cons:
The company has delivered a poor growth of 10.74% over past five years.
Company might be capitalizing the interest cost

Peer Comparison Sector: Castings, Forgings & Fastners // Industry: Fasteners

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Quarterly Results Consolidated Figures in Rs. Crores / View Standalone

Jun 2018 Mar 2019 Jun 2019
1,098 1,142 1,181
904 951 988
Operating Profit 195 191 192
OPM % 18% 17% 16%
Other Income 12 2 5
Interest 14 9 14
Depreciation 29 36 44
Profit before tax 163 148 139
Tax % 31% 24% 30%
Net Profit 112 113 96
Notes Notes Notes

Profit & Loss Consolidated Figures in Rs. Crores / View Standalone

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
1,626 1,797 1,695 2,284 2,770 2,651 2,736 3,156 3,255 3,303 3,855 4,558
1,459 1,606 1,555 2,030 2,466 2,385 2,447 2,780 3,012 2,713 3,174 3,756
Operating Profit 167 191 140 254 304 266 289 376 243 590 681 801
OPM % 10% 11% 8% 11% 11% 10% 11% 12% 7% 18% 18% 18%
Other Income 7 13 25 16 31 56 49 17 85 12 23 26
Interest 17 105 19 42 98 90 68 94 73 39 37 46
Depreciation 48 61 66 72 84 94 102 116 116 104 112 129
Profit before tax 111 38 79 156 153 138 169 182 139 459 554 652
Tax % 34% 20% 40% 27% 34% 32% 28% 28% 10% 26% 30% 30%
Net Profit 74 31 48 113 100 93 121 131 126 338 387 457
EPS in Rs 3.39 1.39 2.12 5.16 4.51 4.18 5.54 6.00 6.00 15.71 18.40 21.77
Dividend Payout % 25% 34% 40% 23% 30% 32% 30% 28% 36% 28% 25% 23%
* Sales is net of excise duty and discounts
Compounded Sales Growth
10 Years:9.75%
5 Years:10.74%
3 Years:11.88%
TTM:18.24%
Compounded Profit Growth
10 Years:31.71%
5 Years:30.63%
3 Years:31.14%
TTM:18.48%
Return on Equity
10 Years:22.15%
5 Years:25.60%
3 Years:28.36%
Last Year:26.94%

Balance Sheet Consolidated Figures in Rs. Crores / View Standalone

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
21 21 21 21 21 21 21 21 21 21 21 21
Reserves 394 439 458 531 621 685 780 858 933 1,215 1,510 1,849
Borrowings 621 708 621 783 893 858 733 874 602 701 700 995
347 323 367 427 507 509 634 598 690 629 765 841
Total Liabilities 1,383 1,491 1,467 1,761 2,042 2,072 2,168 2,351 2,245 2,566 2,996 3,706
620 703 722 750 849 908 1,007 1,019 917 1,031 1,156 1,621
CWIP 47 42 20 37 52 34 40 22 54 69 111 96
Investments 5 2 2 2 10 9 10 7 38 32 70 68
712 744 723 973 1,131 1,122 1,110 1,304 1,237 1,433 1,659 1,922
Total Assets 1,383 1,491 1,467 1,761 2,042 2,072 2,168 2,351 2,245 2,566 2,996 3,706

Cash Flows Consolidated Figures in Rs. Crores / View Standalone

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
76 122 190 28 206 274 427 106 595 244 456 457
-203 -118 -67 -120 -182 -106 -180 -127 -179 -237 -296 -595
140 -27 -134 96 -20 -163 -244 20 -415 6 -167 127
Net Cash Flow 13 -23 -10 4 4 6 4 -1 1 12 -6 -11

Ratios Consolidated Figures in Rs. Crores / View Standalone

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
ROCE % 14% 13% 9% 16% 18% 14% 15% 17% 20% 29% 28% 27%
Debtor Days 67 55 64 64 64 68 65 57 61 72 75 71
Inventory Turnover 6.27 5.54 5.02 6.49 6.62 5.98 6.21 6.52 6.85 7.56 7.93 7.78