SFL has posted a internet revenue of Rs 97.36 crore for the quarter ended September 30, 2020 as towards Rs 71.07 crore in the identical interval within the corresponding earlier yr, registering a rise of 37%.
Automotive element producer Sundram Fasteners (SFL), a TVS Group firm, has determined to focus on non-auto phase similar to aerospace and defence sectors, as a part of a technique to de-risk its enterprise mannequin and to shelter itself towards the cyclical nature of the auto business. In order to additional SFL’s progress in non-auto phase, the corporate integrated a wholly-owned subsidiary named TVS Engineering. The new arm would manufacture extensive spectrum of solid, machined elements, missile elements, precision machined elements, titanium and chrome steel fasteners, torsion bars, transmission elements and engine elements like con rods, crank shafts engine liners pumps and important fasteners, stated an organization assertion. SFL has earmarked Rs 100 crore for the defence division operations.
The firm proposes to spend about Rs 150 crore in the direction of capital expenditure for the monetary yr 2021 as a part of capability enlargement of its current traces of companies. It had already incurred Rs 63 crore in the direction of capital expenditure through the half-year ended September 30. SFL had arrange a SEZ unit at Sri City, Andhra Pradesh , with an preliminary funding of Rs 100 crore. The new unit has acquired an order from a number one European producer to manufacture and export excessive precision engineering parts. The SEZ unit is creating elements for hybrid electrical autos, a transfer anticipated to give additional push to the export enterprise of the corporate, the assertion stated.
TVS Upasana, a wholly-owned subsidiary of the corporate, has commenced a brand new division at its plant at Vallam Vadagal in Sriperumbudur at an funding of Rs 17 crore, proposed to be spent over a interval of three years. The new division has been arrange to manufacture radiator cap cowl, radiator cap housing, radiator cap lid and filter component elements. The merchandise manufactured by the corporate can be equipped to home in addition to MNC clients.
SFL has posted a internet revenue of Rs 97.36 crore for the quarter ended September 30, 2020 as towards Rs 71.07 crore in the identical interval within the corresponding earlier yr, registering a rise of 37%. The income from operations was at Rs 766.85 crore as towards Rs 766.82 crore. The home gross sales had been at Rs 483.88 crore as towards Rs 450.01 crore whereas export gross sales had been at Rs 260.28 crore as towards Rs 290.88 crore. The EBITDA for the quarter was at Rs 167.52 crore as towards Rs 145.35 crore, a rise of 15.3%. The firm posted the next EBITDA share on income from operations at 21.8% as towards 18.9% due to steady materials costs and stringent value management measures, it added.
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