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- Nov 6, 2000 - Sundaram Clayton net drops by 71.3%
Sundaram Clayton net drops by 71.3%
Sundaram Clayton, a leading manufacturer of hyrdaulic brake actuator systems and castings has reported a 71% decline in its net for the 2QFY01E to Rs 13 m. The company's sales have fallen by 2.5% YoY during this period.
| (Rs m) | 2QFY00 | 2QFY01 | Change |
| Sales | 536 | 522 | -2.5% |
| Other income | 32 | 20 | -35.8% |
| Expenditure | 488 | 504 | 3.3% |
| Operating profit (EBDIT) | 48 | 18 | -62.0% |
| Operating profit margin (%) | 8.9% | 3.5% | |
| Interest | 0 | 3 | 653.5% |
| Depreciation | 19 | 22 | 16.9% |
| Profit before Tax | 60 | 14 | -77.4% |
| Other adjustments | - | - | |
| Tax | 16 | 1 | |
| Profit after Tax/(Loss) | 45 | 13 | -71.3% |
| Net profit margin (%) | 8.3% | 2.5% | |
| No. of Shares (eoy) (m) | 19.0 | 19.0 | |
| Diluted number of shares | 19.0 | 19.0 | |
| Diluted Earnings per share* | 9.4 | 2.7 | |
| *(annualised) |
Its main clients in the hydraulic brake systems are Telco and Ashok Leyland. As the medium and heavy commercial vehicles segment is not doing well in the current financial year, hence the company's sales have been under pressure. Its foundry division too is facing tough times as the passenger car segment too has slowed down.
The company's operating margins have declined from 8.9% in the 2QFY00 to 3.5% in the 2QFY01 as its operating costs went up by 3.3% during this period.
On the current price of Rs 116, Sundram Clayton is trading at 9.7x FY2000 EPS of Rs 12
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