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Strategies & Market Trends : India Coffee House -- Ignore unavailable to you. Want to Upgrade?

To: Mohan Marette who wrote (8844)	10/23/1999 5:40:00 PM
From: JPR	Read Replies (1) \| Respond to of 12475

Mohan: For your info only Message 11685510

To: Mohan Marette who wrote (8844)	10/23/1999 6:56:00 PM
From: Mohan Marette	Read Replies (1) \| Respond to of 12475

Sundram Fasteners net zooms 69% sundram.com Customers sundram.com Sundram Fasteners net zooms 69% to Rs 23 cr N Madhavan (FE) Chennai, Oct 22: Improved volumes and consequent increase in the operating level margins have helped Sundram Fasteners Ltd (SFL) post a 69 per cent jump in its net profit to Rs 23.33 crore ($5.2 mil) for the first half year ended September 30, 1999 as against Rs 13.78 crore in the corresponding period of the previous year on a turnover which grew by 35 per cent. During the period, SFL has registered a total sales of Rs 219.87 crore ($50 Million) compared to Rs 162.95 crore in the first half of 1998-99. Exports were higher at Rs 31.50 crore (Rs 26.79 crore)</I. Operating margins improved from 17.49 per cent to 18.29 per cent on account of higher volumes and the operating profit was up 41 per cent to Rs 40.22 crore (Rs 28.50 crore). Interest cost was lower at Rs 6.61 crore (Rs 8.04 crore) on account of lower cost of borrowings. Depreciation was slightly higher at Rs 5.78 crore (Rs 4.93 crore) and the company had provided Rs 4.50 crore (Rs 1.75 crore) towards tax provision. The annualised EPS is Rs 45.67 (Rs 26.99). The company hopes to maintain the first half performance in the second half of the year too. In 1998-99, the company had posted a turnover of Rs 343.96 crore and a net profit of Rs 29.54 crore.