Chennai: Sundram Fasteners Limited (standalone) has posted a net profit of Rs. 314.04 crore for the year ended March, 2020, despite a slowdown in the automotive industry.
A press release said the company has posted a healthy EBITDA percentage of 18% due to operational efficiencies and cost control measures.
“Coronavirus pandemic In view of the lockdown measures imposed by the Central and State Governments due to Coronavirus pandemic, the operations of all offices and manufacturing facilities of the Company came to a halt from 24 March, 2020, which has impacted the sales performance of the Company during April and May 2020,” it said.
The operations of all offices and manufacturing facilities were shut down during the lockdown period and re-opening was initiated only after obtaining requisite approvals from the authorities concerned, it added.
The company had implemented the ‘Work from Home’ policy from March 2020 as per the directions of government at all its office locations. The offices have resumed operations with limited staff base as per government directives.