Sundram Fasteners cut net debt by 35% in FY21
The Hindu
Company invested ₹140 cr. on capex
Sundram Fasteners Ltd. (SFL) lowered net debt by 35% to ₹443 crore during fiscal 2021, a year in which the auto sector was badly hit by the COVID-19 pandemic. The auto components maker, which is part of the TVS group, had a net debt of ₹681 crore a year earlier. In fiscal 2021, it incurred capital expenditure of ₹140 crore on existing and new projects in tandem with the production plans of key customers, SFL said in its latest annual report.
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