Sundram Fasteners Limited (SFL) reported a net profit in excess of Rs.200 crore for the first time since its inception. The net profit stood at Rs.211.17 crore for the year ended March 31, 2016 against Rs.135.32 crore in the year-earlier period, an increase of 56 per cent, according to a statement from the company.
The earnings before interest and depreciation stood at Rs.419.51 crore (Rs 356.79 crore), an increase of 17.5 per cent. “The efficient working capital management has resulted in reduction in borrowings and enabled the company contain its interest costs. Consequently,the company has a strong balance sheet with an all-time low debt-equity ratio of 0.57,” according to the statement. The net worth also crossed the Rs. 1,000-crore mark.
