Sundram Fasteners Limited
CIN : L35999TN1962PLC004943
Registered & Corporate Office : 98-A, VII Floor, Dr Radhakrishnan Salai, Mylapore, Chennai - 600 004. Telephone: +91-44-28478500 | Fax : +91-44-28478510 Email:investorshelpdesk@sfl.co.in| Website: www.sundram.com
STATEMENT OF AUDITED STANDALONE FINANCIAL RESULTS FOR THE QUARTER AND YEAR ENDED MARCH 31, 2022
Quarter ended | ||||||
31-03-2022# | 31-12-2021 | 31-03-2021# | 31-03-2022 | 31-03-2021 | ||
Audited | Unaudited | Audited | Audited | Audited | ||
1 | Income | |||||
Revenue from operations | 1,146.44 | 1,024.25 | 1,079.25 | 4,172.57 | 3,065.03 | |
Other income | 10.88 | 3.97 | 2.36 | 25.61 | 16.57 | |
Total income | 1,157.32 | 1,028.22 | 1,081.61 | 4,198.18 | 3,081.60 | |
2 | Expenses | |||||
Cost of materials consumed | 554.59 | 454.34 | 470.63 | 1,904.45 | 1,267.70 | |
Changes in inventories of finished goods and work-in-progress | (24.94) | (2.30) | (20.35) | (97.97) | (23.91) | |
Employee benefits expense | 77.72 | 79.24 | 82.87 | 311.73 | 271.44 | |
Finance costs | 3.92 | 3.23 | 3.41 | 13.39 | 14.16 | |
Depreciation and amortisation expense | 38.92 | 38.31 | 36.22 | 152.83 | 146.58 | |
Other expenses | 371.62 | 316.92 | 335.97 | 1,327.79 | 967.52 | |
Total expenses | 1,021.83 | 889.74 | 908.75 | 3,612.22 | 2,643.49 | |
3 | Profit before exceptional items and tax (1-2) | 135.49 | 138.48 | 172.86 | 585.96 | 438.11 |
4 | Exceptional item (refer note 7) | 30.00 | - | - | 30.00 | - |
5 | Profit before tax (3-4) | 105.49 | 138.48 | 172.86 | 555.96 | 438.11 |
6 | Tax expense | |||||
a) Current tax | 37.29 | 34.07 | 42.15 | 148.11 | 104.64 | |
b) Deferred tax | (3.21) | 1.07 | 0.69 | 0.39 | 5.33 | |
Total tax expense | 34.08 | 35.14 | 42.84 | 148.50 | 109.97 | |
7 | Profit for the year (5-6) | 71.41 | 103.34 | 130.02 | 407.46 | 328.14 |
8 | Other comprehensive income | |||||
Items that will not be reclassified to profit or loss | ||||||
(i) Re-measurement gains on defined benefit plans | 0.38 | 0.85 | 1.83 | 1.89 | 0.44 | |
(ii) Fair value gains / (losses) on equity instruments | 11.03 | (1.29) | (5.89) | 12.46 | 17.92 | |
(iii) Income tax effect on above | (2.26) | (0.04) | 1.33 | (2.60) | (3.08) | |
Total other comprehensive income / (loss) | 9.15 | (0.48) | (2.73) | 11.75 | 15.28 | |
9 | Total comprehensive income for the year (7+8) | 80.56 | 102.86 | 127.29 | 419.21 | 343.42 |
10 | Paid-up equity share capital (face value of Re 1 /- each fully paid up) | 21.01 | 21.01 | 21.01 | 21.01 | 21.01 |
11 | Earnings per share (EPS) (face value of Re 1 /- each) | |||||
(i) Basic (in Rs.) (not Annualised) | 3.40 | 4.91 | 6.19 | 19.39* | 15.62* | |
(ii) Diluted (in Rs.) (not Annualised) | 3.40 | 4.91 | 6.19 | 19.39* | 15.62* | |
* Annualised | ||||||
# refer note 4 |
Sundram Fasteners Limited
CIN : L35999TN1962PLC004943
Notes:
1
Statement of assets and liabilities
Registered & Corporate Office : 98-A, VII Floor, Dr Radhakrishnan Salai, Mylapore, Chennai - 600 004. Telephone: +91-44-28478500 | Fax : +91-44-28478510 Email:investorshelpdesk@sfl.co.in| Website: www.sundram.com
Rs. in Crores
Particulars | As at 31-03-2022 | As at 31-03-2021 |
Audited | Audited | |
ASSETS Non-current assets
Current assets
(d) Other current assets Total assets EQUITY AND LIABILITIES Equity Equity share capital Other equity Total equity Liabilities Non-current liabilities Financial liabilities B- oBrororrwowinignsgs - Lease liabilities Provisions Deferred tax liabilities, net Other tax liabilities, net Current liabilities Financial liabilities
Other current liabilities Provisions Other tax liabilities, net Total liabilities Total equity and liabilities | 1,511.85 100.22 0.19 42.93 2.67 322.71 11.01 24.30 62.52 49.87 | 1,513.75 104.82 0.39 46.81 3.05 337.16 7.78 30.82 59.01 42.22 |
2,128.27 | 2,145.81 | |
691.39 838.71 14.01 17.75 6.10 5.19 55.47 | 558.80 715.06 12.85 4.04 6.11 3.51 43.98 | |
1,628.62 | 1,344.35 | |
3,756.89 | 3,490.16 | |
21.01 2,524.26 | 21.01 2,312.03 | |
2,545.27 | 2,333.04 | |
113.70 2.04 6.66 118.01 6.97 | 182.80 4.16 6.90 115.02 7.84 | |
247.38 | 316.72 | |
347.34 3.37 66.09 406.24 68.35 26.56 20.58 25.71 | 273.23 5.49 35.94 417.60 54.00 6.27 21.68 26.19 | |
964.24 | 840.40 | |
1,211.62 | 1,157.12 | |
3,756.89 | 3,490.16 |
Sundram Fasteners Limited
CIN : L35999TN1962PLC004943
Notes:
2 Statement of cash flows
Registered & Corporate Office : 98-A, VII Floor, Dr Radhakrishnan Salai, Mylapore, Chennai - 600 004. Telephone: +91-44-28478500 | Fax : +91-44-28478510 Email:investorshelpdesk@sfl.co.in| Website: www.sundram.com
Rs. in Crores
Particulars | Year ended | |
31-03-2022 | 31-03-2021 | |
Audited | Audited | |
A. Cash flows from operating activities Profit before tax Adjustments for: Depreciation and amortisation expense Amortisation of right of use assets Unrealised foreign exchange (gain) / loss, net Mark to market gain on derivative instruments Finance costs Interest income Dividend income Loss / (profit) on sale of property, plant and equipment, net Financial guarantee income Gain on sale of investment in mutual funds Impairment of investment Loss allowance on trade receivables Adjustments for changes in working capital: Increase in inventories Increase in financial assets (Increase) / decrease in other assets Increase in financial liabilities Increase in other liabilities and provisions Cash generated from operating activities Income taxes paid, net Net cash from operating activities B. Cash flows from investing activities Purchase of property, plant and equipment and intangible assets (including capital work-in-progress and capital advances) Purchase of right of use assets Proceeds from sale of property, plant and equipment Acquisition of investments Proceeds from sale of investments Dividend received Interest received Net cash used in investing activities C. Cash flows from financing activities Repayment of long term borrowings Proceeds from / (repayment of) short term borrowings, net Repayment of lease liabilities Dividend paid Interest paid Net cash used in financing activities
| 555.96 146.86 5.97 (1.41) (0.26) 13.39 (1.43) (2.88) 1.01 (1.79) (0.74) 30.00 6.66 | 438.11 141.44 5.14 2.50 (0.09) 14.16 (6.10) (1.20) (0.03) (1.06) (0.97) - - |
751.37 (132.59) (127.33) (11.69) 31.98 7.65 | 591.90 (65.88) (176.26) 19.73 150.30 1.00 | |
519.39 (152.97) | 520.79 (106.86) | |
366.42 | 413.93 | |
(146.65) - 0.90 (2,266.18) 2,266.24 2.88 1.70 | (128.15) (1.36) 0.77 (689.86) 682.58 1.20 5.78 | |
(141.11) | (129.04) | |
(37.03) 34.87 (7.35) (206.98) (7.63) | - (229.91) (5.10) (27.32) (21.67) | |
(224.15) | (284.00) | |
1.16 12.85 | 0.89 11.96 | |
14.01 | 12.85 |
Sundram Fasteners Limited
CIN : L35999TN1962PLC004943
Registered & Corporate Office : 98-A, VII Floor, Dr Radhakrishnan Salai, Mylapore, Chennai - 600 004 Telephone: +91-44-28478500 Fax : +91-44-28478510
Email:investorshelpdesk@sfl.co.in
Website:www.sundram.com
Notes:
3 The above standalone financial results were reviewed and recommended by the Audit Committee and thereafter approved by the Board of Directors in their meetings held on April 21, 2022 and April 22, 2022 respectively. The Statutory Auditors have carried out an audit for the year ended March 31, 2022 and have issued an unqualified report thereon.
4 The figures for the quarters ended March 31, 2022 and March 31, 2021 are the balancing figures between audited figures in respect of the full financial year and the published unaudited year to date figures upto to the end of the third quarter of the financial years ended March 31, 2022 and March 31, 2021 respectively which were subjected to limited review.
5 The standalone financial results of the Company have been prepared in accordance with Indian Accounting Standards ("Ind AS") as prescribed under Section 133 of the Companies Act, 2013 read with relevant rules thereunder and in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulation, 2015 and SEBI Circular dated July 5, 2016.
6 The Company is engaged in manufacture and sale of bolts and nuts, water and oil pumps, sintered products, cold extruded components, hot and warm forged parts, radiator caps and other parts which largely have applications primarily in automobile industry and thus the Company has only one reportable segment.
7 Exceptional item amounting to Rs. 30 crores in standalone financial results for the quarter and year ended March 31, 2022 represents provision recorded for impairment in respect of investments in an overseas subsidiary.
8 In March 2020, the World Health Organisation declared COVID-19 to be a pandemic. The Company has adopted measures to curb the spread of infection in order to protect the health of its employees and ensure business continuity with minimal disruption. In view of the pandemic, the Company has considered internal and external information and has performed an analysis based on current estimates while assessing the recoverability of assets including, trade receivables, inventories and other current / non-current assets (net of provisions established) for any possible impact on the standalone financial results. The Company has also assessed the impact of this whole situation on its capital and financial resources, profitability, liquidity position, internal financial controls etc., and is of the view that based on its present assessment, the necessary impact has been given in the preparation of the standalone financial results. The Company will continue to closely monitor any material changes to future economic conditions.
9 Previous period figures have been regrouped / reclassified, wherever necessary, to conform with the current period classification / presentation.
Chennai For Sundram Fasteners Limited April 22, 2022
SURESH KRISHNA Date: 2022.04.22
Digitally signed by SURESH KRISHNA 19:01:18 +05'30'
Chairman
CIN : L35999TN1962PLC004943
Sundram Fasteners Limited
Registered & Corporate Office : 98-A, VII Floor, Dr Radhakrishnan Salai, Mylapore, Chennai - 600 004 Telephone: +91-44-28478500 Fax : +91-44-28478510
Email:investorshelpdesk@sfl.co.in
Website:www.sundram.com
STATEMENT OF AUDITED CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER AND YEAR ENDED MARCH 31, 2022
Quarter ended | ||||||
31-03-2022# | 31-12-2021 | 31-03-2021# | 31-03-2022 | 31-03-2021 | ||
Audited | Unaudited | Audited | Audited | Audited | ||
1 | Income | |||||
Revenue from operations | 1,339.84 | 1,207.53 | 1,273.10 | 4,902.06 | 3,644.29 | |
b. Other income | 10.05 | 10.40 | 4.26 | 39.33 | 27.40 | |
Total income | 1,349.89 | 1,217.93 | 1,277.36 | 4,941.40 | 3,671.69 | |
2 | Expenses | |||||
a. Cost of materials consumed | 615.64 | 534.51 | 541.11 | 2,172.08 | 1,471.20 | |
b. Changes in inventories of finished goods and work-in-progress | (8.06) | (20.92) | (26.14) | (110.89) | (44.17) | |
d. Employee benefits expense | 121.32 | 125.62 | 123.52 | 486.16 | 400.03 | |
e. Finance costs | 8.21 | 6.93 | 6.94 | 28.72 | 26.13 | |
f. Depreciation and amortisation expense | 49.52 | 47.39 | 45.16 | 190.79 | 179.69 | |
g. Other expenses | 419.40 | 377.34 | 397.83 | 1,553.32 | 1,153.11 | |
Total expenses | 1,206.03 | 1,070.87 | 1,088.42 | 4,320.18 | 3,185.99 | |
3 | Profit before tax (1-2) | 143.86 | 147.06 | 188.94 | 621.22 | 485.70 |
4 | Tax expense | |||||
a) Current tax | 38.71 | 35.45 | 46.45 | 157.35 | 116.96 | |
b) Deferred tax | (2.28) | 1.61 | 1.69 | 2.04 | 6.03 | |
Total tax expense | 36.43 | 37.06 | 48.14 | 159.39 | 122.99 | |
5 | Profit for the year (3-4) | 107.43 | 110.00 | 140.80 | 461.83 | 362.71 |
6 | Other comprehensive income | |||||
Items that will not be reclassified to profit or loss | ||||||
(i) Re-measurement gains on defined benefit plans | 0.29 | 0.85 | 2.05 | 1.80 | 0.66 | |
(ii) Fair value gains / (losses) on equity instruments | 11.05 | (1.31) | (5.84) | 12.49 | 18.18 | |
(iii) Income tax effect on above | (2.23) | (0.04) | 1.28 | (2.57) | (3.13) | |
Items that will be reclassified to profit or loss | ||||||
(i) Exchange differences on translation of foreign operations | 4.36 | 3.33 | (1.05) | 12.79 | 3.66 | |
(ii) Income tax effect on above | - | - | - | - | - | |
Total other comprehensive income / (loss) | 13.47 | 2.83 | (3.56) | 24.51 | 19.37 | |
7 | Total comprehensive income for the year (5+6) | 120.90 | 112.83 | 137.24 | 486.34 | 382.08 |
8 | Net profit attributable to | |||||
a) Owners of the Company | 106.53 | 108.07 | 140.78 | 456.72 | 359.18 | |
b) Non controlling interest | 0.90 | 1.93 | 0.02 | 5.11 | 3.53 | |
9 | Total comprehensive income attributable to | |||||
a) Owners of the Company | 119.93 | 110.90 | 137.16 | 481.16 | 378.50 | |
b) Non controlling interest | 0.97 | 1.93 | 0.08 | 5.18 | 3.58 | |
10 | Paid-up equity share capital (face value of Re 1 /- each fully paid up) | 21.01 | 21.01 | 21.01 | 21.01 | 21.01 |
11 | Earnings per share (EPS) (face value of Re 1 /- each) | |||||
(i) Basic (in Rs.) (not Annualised) | 5.07 | 5.15 | 6.71 | 21.74* | 17.10* | |
(ii) Diluted (in Rs.) (not Annualised) | 5.07 | 5.15 | 6.71 | 21.74* | 17.10* | |
* Annualised | ||||||
# Refer Note 4 |
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