Sundaram-Clayton Ltd
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BSE Code:
520056
NSE Code:
SUNCLAYLTD
Business Profile
Business Profile
Sundaram Clayton (SUNDRMCLAY) was incorporated on May 24, 1962 as a private company and went public in October 1962. The company was jointly promoted by T. V. Sundaram Iyengar & Sons and Clayton Dewardie Holdings, UK (presently WABCO Vehicle Control Systems, UK). SUNDRMCLAY is a part of the USD 2.6 billion TVS group of companies, the largest automotive component manufacturing and distributing group in India.
The dye casting division manufactures quality and high precision aluminum castings. The division?s two plants, one at Chennai and the other at Hosur are equipped with the latest technology in pressure die casting, gravity die casting and low pressure die casting. They have a combined capacity of 24,000 tons per annum.
The state-of-the art software design and development center was established to cater to the needs of its partners, American Standard Companies. With WABCO, the USD 1.8 billion business of American Standard, the software design center, works on the development of embedded software for automotive applications.
The brakes division was in January 2007 transferred to its wholly-owned subsidiary, WABCO-TVS (India). It manufactures the complete range of air brakes actuation systems and vacuum brakes products like compressors, reservoirs, air dryers, valves, chambers, and other auxiliaries. The first Indian company to manufacture the anti lock brake system (ABS) and anti spin regulation (ASR), it has its state-of-the-art manufacturing facility is in Ambattur, Tamil Nadu. Sundaram Clayton exports its products to Australia, Malaysia, the United Kingdom, Singapore, south Asia, North America, and Venezuela.
Sundaram Clayton has over 75 authorized service centers spread all over India besides a well-organized distribution system ensuring easy availability of genuine replacement parts. It has its corporate office and registered office at Chennai.
Financials
Sundaram-Clayton registered 2.25% decline in net profits of Rs 234.40 million for the quarter ended in December 2007 from a profit of Rs 239.80 million for the quarter ended in December 2006.
Net Sales rose 20.94% to Rs 2475.90 million for the quarter ended December 2007 from Rs 2047.20 million for the quarter ended December 2006.
Total income rose 16.78% to Rs 2576.2 million for the quarter ended December 2007 from Rs 2206 million for the quarter ended December 2006.
The earnings per share (EPS) of the company stood at Rs 12.36 in the quarter ended December 2007.
Recent Developments
07-APR-08
Sundaram Clayton entered into a JV with WABCO & TVS group recently.
WABCO is one of the world`s leading providers of electronic braking, stability, suspension and transmission control systems to the global commercial vehicle industry and the TVS Group is a leading producer of automotive components, two- wheelers, electronic hardware and major distributors of automotive & spare parts in addition to operating goods transport & financial services.
05-MAR-08
The High Court of Madras has sanctioned the scheme of arrangement between Sundaram Clayton and Wabco-TVS India and their respective shareholders and creditors.
30-OCT-07
Sundaram Clayton has declared an interim dividend of Rs 7 per share on equity shares of Rs 10/- each.
Future Plans
Sundaram Clayton is planning to hive off its brakes business into a separate subsidiary.