Sundaram Fasteners has recorded net profit of Rs 230 m (up 69% year on year) in 1HFY2000. This was reported by a leading financial newspaper.
Sundaram Fasteners (TVS Group) is India's largest manufacturer ad exporter of high-tensile fasteners (50%+ domestic market share). In addition to high-tensile fasteners, its product range also includes automotive components, cold formed/extruded products (Nuemeyer, Germany) precision formed gears and radiator caps. It is the sole supplier of radiator caps to General Motors USA. It has consistently been awarded the 'Best Vendor' by GM.
In 1HFY2000, the company posted 35% (year on year) increase in sales to Rs 2.2 bn, while net profit surged ahead by 69% to Rs 233.3 m. Exports posted 18% appreciation to Rs 315 m.
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