NSE: SUNDRMFAST · BSE: 500403
SUNDRAM FASTENERS LTD
Manufactures automotive fasteners and components for passenger vehicles, commercial vehicles, tractors, and two-wheelers, with a growing non-automotive business in railway, aerospace, wind energy, and defence fasteners. The automotive segment serves Indian OEMs and exports to North American Class 8 truck makers and European customers, with management guiding 15-20% export growth for FY27 on EPA 2027 pre-buying and Cummins' high-horsepower segment growing 25%. Non-automotive revenue is 35% of total currently, with a medium-term target of 50%; railway fasteners are targeted at ₹100 crore annually by Q3-Q4 FY27, wind energy fasteners at ₹50 crore/month, and aerospace fasteners at ₹8-10 crore/month. The company holds an EV order book of approximately ₹4,000 crore expected to ramp fully from FY27. Q4 FY26 EBITDA margin expanded 150 basis points to 17% on stable raw material costs. Materials are the largest input cost at 40.5% of revenue, covering steel, nickel, and aluminium. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Automotive fasteners, Exports, Non-automotive fasteners (35%). Auto component manufacturer with growing non-auto diversification into railways, aerospace, wind and defence
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 4,902 | 5,663 | 5,666 | 5,955 | 6,289 |
| EBITDA (ex other income) | 801 | 853 | 887 | 944 | 983 |
| margin % | 16.3 | 15.1 | 15.6 | 15.9 | 15.6 |
| Owners' profit | 457 | 495 | 522 | 539 | 591 |
| EPS, as reported (₹) | 21.74 | 23.54 | 24.83 | 25.66 | 28.13 |
| ROE % · ROCE % | 17.5 · 21.4 | 16.5 · 20.9 | 15.3 · 19.6 | 14.1 · 18.2 | 13.8 · 18.2 |
| Debt / equity (x) | 0.29 | 0.23 | 0.18 | 0.21 | 0.14 |
| Cash from operations | 402 | 469 | 589 | 423 | 837 |
| Capex | (204) | (239) | (400) | (396) | (372) |
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 1,486 | 1,441 | 1,531 | 1,533 | 1,521 | 1,541 | 1,693 | 1,846 |
| Profit before tax | 193 | 166 | 164 | 199 | 202 | 174 | 213 | 224 |
| Net profit | 144 | 131 | 124 | 148 | 153 | 131 | 161 | 169 |
| EPS (₹) | 6.78 | 6.21 | 5.92 | 7.06 | 7.18 | 6.21 | 7.68 | 8.01 |
Exhibit 3: Peers — basic industry group, by market cap
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| SAMVRDHNA MTHRSN INTL LTD | 1,69,176 | 38.6 | 3.87 | 15.1 | 9.4 | 8.2 | 17.1 | 9.0 |
| BOSCH LIMITED | 1,39,756 | 59.1 | 9.41 | 34.3 | 18.7 | 24.1 | 15.6 | 17.9 |
| BHARAT FORGE LTD | 83,937 | 118.9 | 8.78 | 30.3 | 11.4 | 13.2 | 21.6 | 8.8 |
| UNO MINDA LIMITED | 63,520 | 52.8 | 8.75 | 29.1 | 17.7 | 15.7 | 25.3 | 10.4 |
| SCHAEFFLER INDIA LIMITED | 56,735 | 45.3 | 9.23 | — | 10.4 | 14.1 | — | 19.4 |
| SONA BLW PRECISION FRGS L | 54,705 | 78.5 | 8.92 | 47.5 | 10.3 | 12.9 | — | 25.1 |
| TUBE INVEST OF INDIA LTD | 41,237 | 67.9 | 2.90 | 15.9 | 7.9 | 12.4 | 30.3 | 10.6 |
| ENDURANCE TECHNO. LTD. | 32,484 | 33.5 | 4.75 | 15.9 | 13.9 | 15.6 | 17.4 | 13.2 |
Exhibit 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 37.0 | 25.3 | 84 of 119 | 30% |
| P/B | 5.3 | 3.2 | 88 of 117 | 25% |
| ROCE | 17.4 | 12.6 | 35 of 125 | 72% |
| ROE | 13.8 | 11.7 | 48 of 117 | 60% |
| Debt / Equity | 0.1 | 0.3 | 46 of 117 | 61% |
| EBITDA margin | 16.0 | 12.2 | 35 of 118 | 71% |
| Revenue growth | 20.4 | 20.2 | 56 of 113 | 51% |
| Profit growth | 14.0 | 24.4 | 66 of 115 | 43% |
| Market cap | 22630 | 1460 | 16 of 126 | 88% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 28 Oct 2026 · Sundram Fasteners approves interim dividend of Rs 4.05 per share | corporate actions | high | — | — |
| 28 Oct 2026 · Sundram Fasteners declares Rs 4.05 per share interim dividend | corporate actions | high | — | — |
| 28 Oct 2026 · H1 FY27 revenue up 25%, net profit up 14%; interim dividend Rs 4.05 per share | results | high | — | — |
| 26 Oct 2026 · Sundram Fasteners reschedules Q2 FY27 analyst call to October 29 | board shareholder meetings | low | — | — |
| 24 Oct 2026 · Sundram Fasteners schedules 2QFY27 analyst call for October 29, 2026 | board shareholder meetings | low | — | — |
| 21 Oct 2026 · Board meet on Oct 28 for Q2 results and interim dividend | results | low | — | — |
| 21 Oct 2026 · Board to consider Q2 results and Interim Dividend on Oct 28, 2026 | corporate actions | low | — | — |
| 21 Oct 2026 · Board to approve second-quarter results and interim dividend | results | low | — | — |
| 5 Oct 2026 · Special window for physical share transfer and demat - newspaper notice | compliance | minimal | — | — |
| 5 Oct 2026 · Routine demat confirmation certificate for Sep 2026 quarter | compliance | minimal | — | — |
How to read this document
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions | an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
Sources, method and disclosures
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.