Sundram Fasteners charges ahead with ₹1,000 crore EV orders.

Sundram Fasteners’ electric vehicle (EV) business continues to gather momentum as the Chennai-headquartered leading auto parts maker is currently discussing with companies for a potential order value of ₹1,000 crore. This is an addition to existing EV orders of more than ₹3,000 crore.

The company has been supplying EV components such as fasteners, hot forged machine parts, radiator caps, and multiple varieties of shafts, among others, to existing customers entering the EV segment as also the new players. 

Its EV order book now is at $408 million to be executed over six years. “From the second half of the next financial year, the supplies would commence. We would see incremental revenues of about Rs.500 crore coming in from 2026 onwards and going up to 2031,” R Dilip Kumar, Chief Financial Officer, Sundram Fasteners, said during the Q1FY24 earnings call of the company. 

In addition to the above, the company is also discussing with some of its customers to supply parts for their EV platforms. The potential size of this business, which is under discussion, is estimated at ₹1,000 crore over five years. 

Its EV order book now is at $408 million to be executed over six years. “From the second half of the next financial year, the supplies would commence. We would see incremental revenues of about Rs. 500 crore coming in from 2026 onwards and going up to 2031,” R Dilip Kumar, Chief Financial Officer, Sundram Fasteners, said during the Q1FY24 earnings call of the company. 

In addition to the above, the company is also discussing with some of its customers to supply parts for their EV platforms. The potential size of this business, which is under discussion, is estimated at ₹1,000 crore over five years. 

HBL