CHENNAI, FEBRUARY 19:
Ten years after Sundram Fasteners pitched a tent on the Chinese soil, the TVS group company now looks at the prospect of crossing a milestone – the maiden dividend.“It took us seven years to make our first profit,” says Suresh Krishna, Chairman and Managing Director.
“We have wiped out all our losses. Sales rose from ₹2.37 crore in 2004 to ₹117 crore in 2013, and the current year promises to be even better, with expected sales of ₹160 crore.”
In these 10 years, the ₹2,000-crore automotive fasteners maker used its manufacturing centre in Zhejiang — in which it has invested ₹56 crore — as a base to supply products to its customers in the West in the first phase, and then to its operations in China. (…)
via Sundram Fasteners tightens China ops; to pay first dividend | Business Line.