Sundram Fasteners , a leading automotive component manufacturer, has recently unveiled plans for a new global ice engine program and shared an optimistic outlook for the coming months. This announcement comes as part of the company's strategy to capitalize on strong domestic industry conditions and potential export recovery.

New Global Engine Program

Sundram Fasteners has revealed a new global ice engine program scheduled to launch between 2029 and 2031. This long-term initiative demonstrates the company's commitment to innovation and its ability to secure future business in the evolving automotive industry.

Improved Order Schedules and Growth Outlook

The company anticipates improved order schedules for the upcoming quarter (Q4) and the following Q1. Management has expressed a positive outlook for the next six months, driven by:

1. Strong domestic industry conditions
2. Potential recovery in exports
3. Increased orders expected from customers in Q1 and Q2

Product Innovation and Revenue Diversification

Sundram Fasteners has shown a strong focus on product innovation:

This emphasis on new product development showcases the company's adaptability and commitment to staying competitive in the market.

Wind Energy Business

The company's wind energy segment has been performing well:

The strong performance of the wind energy business, particularly in terms of return on capital employed, highlights Sundram Fasteners' successful diversification strategy.

Focus Areas and Growth Targets

Sundram Fasteners is concentrating on specific product areas to drive growth:

1. Stainless steel fasteners
2. Railway fasteners

The company expects revenue growth in these segments in the coming year. Management aims for double-digit annual growth.

Export Recovery

While the company has been facing challenges in the export market, management is optimistic about a recovery:

• Anticipated timeframe for export recovery: Within 6 months
• Customers are planning increased orders for Q1 and Q2

This expected recovery in exports could provide a significant boost to the company's overall performance in the near future.

Conclusion

Sundram Fasteners' announcement of a new global engine program, coupled with its focus on product innovation and diversification, positions the company well for future growth. The positive outlook for both domestic and export markets, along with the strong performance of its wind energy business, suggests that the company is on track to achieve its growth targets. Investors and market watchers will be keen to see how these initiatives translate into financial performance in the coming quarters.

Sundram Fasteners Limited , a leading automotive component manufacturer, has announced a significant interim dividend and initiated a shareholder-focused campaign. Here are the key highlights:

Interim Dividend Declaration

The Board of Directors of Sundram Fasteners Limited has declared an interim dividend of Rs 3.75 per share. This represents a 375% dividend on the face value of Re 1 per share.

Dividend Payment Details

Tax Deduction on Dividend

The company will deduct tax at source (TDS) from dividend payments exceeding Rs 10,000. The TDS rates vary based on shareholder category and residential status:

Certain categories of shareholders, such as mutual funds, insurance companies, and government entities, may be exempt from TDS upon submission of required documentation by November 6.

'Saksham Niveshak' Campaign

Sundram Fasteners has launched a 100-day campaign called 'Saksham Niveshak' aimed at:

1. Updating shareholders' KYC details
2. Facilitating claims for unpaid dividends
3. Preventing transfer of unclaimed dividends and shares to the Investor Education and Protection Fund Authority (IEPFA)

Key Dates for Shareholders

Shareholders are urged to update their KYC details, including PAN, bank account information, nominee registration, and contact information. This is particularly crucial as SEBI has mandated dividend issuance in electronic mode only.

The company emphasizes the importance of claiming unpaid dividends, as unclaimed dividends for seven consecutive years, along with corresponding shares, are liable to be transferred to the IEPFA.

Sundram Fasteners' proactive approach in declaring a substantial dividend and launching the 'Saksham Niveshak' campaign demonstrates its commitment to shareholder value and regulatory compliance. Investors are advised to take prompt action to ensure they receive their entitled benefits and maintain up-to-date records with the company.