The board of directors of Sundram Fasteners Limited has announced the unaudited financial results for the quarter and half-year ended 30 September 2024.

The revenue from operations was recorded at INR 12.88 billion during the second quarter of FY2024-25 as compared to INR 12.31 billion in the corresponding quarter of last fiscal.

The domestic sales for the quarter ended 30 September 2024 were of INR 8.60 billion as compared to Rs 8.59 billion during the corresponding quarter in the last fiscal.

The export sales for the quarter ended 30 September 2024 were INR 3.89 billion as compared to INR 3.37 billion during the corresponding period in the last fiscal, marking a growth of 15.4 percent.

The company registered an EBITDA of INR 2.25 billion during the quarter ended 30 September 2024 as compared to an EBITDA of INR 2.05 billion in the corresponding period of last fiscal.

The export led growth and stable commodity prices contributed to the expansion of EBITDA margins from 16.6 percent to 17.3 percent.

The Profit before Tax (PBT) for the quarter ended 30 September 2024 was INR 1.75 billion as compared to INR 1.58 billion during the corresponding period in the last fiscal, registering an increase of 11.0 percent.

The net profit for the quarter ended 30 September 2024 was at INR 1.30 billion as compared to INR 1.18 billion during the corresponding quarter of last fiscal, registering an increase of 10.5 percent.

Earnings per share for the quarter ended 30 September 2024 amounted to INR 6.22 as compared to INR 5.63 in the corresponding period last fiscal. 

The Company has incurred INR 2.38 billion as capital expenditure for the half-year ended 30 September 2024, in line with its planned capital expenditure of INR four billion for FY2024-25. These investments will help the company to scale in non-auto, EV, hybrid and adjacent spaces, according to the company sources.

The Company has incurred INR 2.38 billion as capital expenditure for the half-year ended 30 September 2024, in line with its planned capital expenditure of INR four billion for FY2024-25. These investments will help us scale in non-auto, EV, hybrid and adjacent spaces, according to the company sources.

Consolidated Financials
The Company’s consolidated revenue from operations posted for the quarter ended 30 September 2024 was INR 14.86 billion as compared to INR 14.21 billion during the corresponding quarter of last financial year. 
The consolidated net profit for the quarter ended 30 September 2024 was INR 1.43 billion compared to INR 1.33 billion during the corresponding period in the last fiscal. 
The consolidated earnings per share (EPS) for the quarter ended 30 September 2024 amounted to INR 6.78 as compared to INR 6.28 in the corresponding period last fiscal. 
 
H1 FY2024-25 results
The revenue from operations was at INR 25.99 billion for the half-year ended 30 September 2024 as compared to INR 24.48 billion during the corresponding period in the last fiscal. 
The domestic sales for the half-year ended 30 September 2024 were at INR 17.16 billion as compared to INR 16.82 billion in the corresponding period of the last fiscal. 
The export sales for the half-year ended 30 September 2024 were INR 8.11 billion as compared to INR 6.85 billion during the corresponding period in the last fiscal, registering a growth of 18.5 percent. 
The net profit for the half-year ended 30 September 2024 was at INR 2.62 billion compared to a net profit of INR 2.31 billion during the corresponding period in the previous fiscal, registering an increase of 13.5 percent.
The company’s consolidated revenue from operations posted for the half-year ended 30 September 2024 was INR 29.83 billion as compared to INR 28.32 billion during the same period in the previous fiscal. The consolidated net profit for the half-year ended 30 September 2024 was INR 2.86 billion as compared to net profit of INR 2.61 billion during the same period in the previous fiscal. 
The board at its meeting held today declared an interim dividend of INR 3.00 per share (300 percent) for FY2024-25. 
 

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Tsuyo Manufacturing has entered into a technical collaboration with Suzhou Lvkon Transmission Technology (LvKON) to develop and manufacture electric drive systems for commercial vehicles in India.

Building on a five-year operational relationship, the partnership combines Tsuyo's domestic manufacturing presence and relationships with vehicle manufacturers with LvKON's engineering expertise in commercial vehicle drivetrains.

As part of its expansion strategy, Tsuyo is advancing plans for a 24-acre manufacturing facility to serve as an integrated platform for electric powertrain engineering, production, testing, and validation. The collaboration focuses on the development and industrialisation of electric motors, transmissions, integrated drive systems and electronic control units for trucks, buses, and other commercial applications.

Under the agreement, LvKON will support Tsuyo across product engineering, design validation, manufacturing processes, testing protocols and aftersales infrastructure to shorten development cycles and scale commercialisation.

Vijay Kumar, Founder and CEO, Tsuyo Manufacturing, said, "LvKON brings established expertise in electric drive systems for new energy commercial vehicles, with capabilities spanning drive motors, transmissions, control systems, and integrated product development. Its experience across commercial vehicle applications provides a valuable technological foundation for addressing the performance, durability, efficiency, and reliability requirements of demanding operating environments. With LvKON's technology and industrialisation support, the aim is to establish world-class capabilities in electric drive systems and create a scalable foundation for developing and supplying next-generation solutions for India's commercial mobility sector."

Eric, Director of International Sales at LvKON, said, "For the Indian electric commercial vehicle market, LVKON believes that its development potential is enormous. Based on the rapid development of the current Indian market, LvKON also hopes to play an important role in this rapid development process. We have a very professional technical team that can respond quickly to the differentiated needs of the Indian market and efficiently complete customised design and production work. Once again, I would like to express my affirmation of the long-term development of the Indian market. Let us grow together and work together to support the development of the Indian commercial vehicle market."

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Hexpol, the Swedish polymer group, has agreed to acquire an 80 percent stake in Symplast A.Ş., a Turkish manufacturer of thermoplastic elastomer compounds, for Euro 54 million on a cash- and debt-free basis.

The deal will expand Hexpol’s thermoplastic compounding operations and strengthen its presence in Türkiye, where Symplast supplies customers in the automotive, construction, consumer and electronics industries. The acquisition is expected to close by the end of the first quarter of 2027, subject to customary closing conditions, including competition authority approval.

Symplast, headquartered in İzmir, was founded in 2013 by four shareholders: Selahattin Dülger, Ali Rıza Kır, Yaşar Kurtuluş and Fahri Tolga Sarıkahya. The company has annual sales of about Euro 34 million and employs 135 people.

Its operations include a manufacturing facility, headquarters and research and development centre in İzmir, a semi-finished materials facility in Poti, Georgia, and a sales office in Germany. The İzmir site has available capacity and room for expansion within its existing footprint.

Symplast makes engineered thermoplastic elastomers for applications including automotive weather seals, window and door systems, construction membranes, consumer products, cable sheathing and connectors. Its in-house research and laboratory capabilities support the development of formulations tailored to customers’ requirements.

Sarıkahya and Kır will continue to run the business as a subsidiary of Hexpol’s Thermoplastic Compounding division.

“The acquisition of Symplast is another important step in executing the growth strategy for our Thermoplastic Compounding business area. Symplast gives HEXPOL a strong position in Turkey, an attractive and strategically located manufacturing market with a well-developed automotive and construction industry,” says Henrik Elmin CEO and President of HEXPOL.

“Symplast brings strong formulation and application expertise, modern production capabilities and an entrepreneurial organization with a clear focus on customer service. The company is highly complementary to our existing thermoplastic operations and provides an attractive platform for continued growth, both in Turkey and in export markets,” concludes Jan Wikström, President business area HEXPOL Thermoplastic Compounding.

“We are very pleased to have found a long-term industrial owner that shares our commitment to product quality, technical expertise and close customer relationships,” says Selahattin Dülger, Chairman of the Board and one of the founders of Symplast.

“HEXPOL has demonstrated a deep understanding of our business and a clear ambition to invest in its continued development. Becoming part of HEXPOL will give Symplast access to broader technical capabilities, an international customer base and the resources required to accelerate its growth, while preserving the entrepreneurial culture on which the company has been built,” concludes Dülger.

Hexpol said at its Capital Markets Day in November 2025 that it would increase its focus on thermoplastic compounding as a key growth platform. The Symplast acquisition adds a manufacturing presence in Türkiye and access to customers in the domestic market, Europe and neighbouring regions.

The Euro 54 million purchase price will be funded through a combination of bank facilities and cash. Hexpol will have an option to acquire the remaining shares, while the founders will have an option to sell their remaining holdings to the group.

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German lubricant manufacturer Mannol has stated that the introduction of European Euro 7 emissions regulations will increase the technical demands placed on engine oil durability and exhaust aftertreatment compatibility.

Scheduled to take effect for new vehicle types in categories M1 and N1 starting 29 November 2026, the Euro 7 framework extends regulatory oversight to particulate emissions from braking systems and minimum durability requirements for traction batteries, alongside stricter monitoring of tailpipe emissions over extended vehicle lifespans.

Because the standard mandates compliance over an eight-year or 160,000-kilometre period, the long-term stability of engine components and lubricants becomes critical to preventing deposit accumulation and catalyst fouling.

Mannol notes that specifications established by organizations such as the European Automobile Manufacturers Association, the American Petroleum Institute and the International Lubricant Standardization and Approval Committee provide the technical framework for lubricant selection. low- and mid-SAPS formulations limit sulphated ash, phosphorus and sulphur content to protect particulate filters and catalytic converters, while lower high-temperature high-shear viscosities reduce hydrodynamic friction losses in modern powertrains.

The company offers specialised products within its portfolio, including the Molibden Ultra 5W-30 formulation combining ACEA C2 and C3 with API SQ and ILSAC GF-7A standards, the Legend Formula C5 0W-20 for low-viscosity manufacturer approvals, and the Hybrid SP 0W-16 developed for hybrid powertrains and thermal cycling conditions.

Konstantin Gaab, Managing Director of SCT Vertriebs, said, "From our perspective, Euro 7 is not merely a further development of emissions legislation, but above all a signal that modern vehicles will need to meet increasingly stringent requirements for long-term technical durability. The challenge for the lubricant industry is to further reduce friction losses and, consequently, energy consumption without compromising wear protection or the performance of exhaust aftertreatment systems. Modern performance standards such as ACEA C5, C6 and C7, as well as API SQ and ILSAC GF-7, provide the industry with an important technical foundation. The key will be to translate these requirements into high-performance formulations tailored to specific engine designs. Our existing MANNOL portfolio already supports a range of modern powertrain technologies. At the same time, we regard the continuous development of our lubricants as essential to meeting the future requirements of vehicle manufacturers. Our aim is not simply to respond to regulatory changes, but to understand their technical implications at an early stage and incorporate them into the ongoing development of our product portfolio."

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Pune-headquartered automotive component supplier Varroc Engineering and French battery system manufacturer Forsee Power have joined forces to produce electric vehicle battery packs in India.

Under the terms of the transaction, Varroc will acquire a 45 percent equity stake in Forsee Power's Indian subsidiary, Forsee Power India and will assume management and operational control of the entity.

Varroc will also subscribe to Optionally Convertible Redeemable Preference Shares to provide growth capital for the joint venture, subject to regulatory and corporate approvals. The joint venture will initially focus on battery pack development for three-wheeled electric vehicles, before expanding into two-wheelers, light commercial vehicles, buses, trucks and industrial equipment.

The agreement combines Forsee Power's battery system architecture and software with Varroc's component manufacturing, engineering infrastructure and vehicle manufacturer supply relationships across domestic assembly operations.

Arjun Jain, Whole Time Director and CEO – Business I, Varroc, said, "Electric mobility is both evolving and growing rapidly, thus creating new opportunities and new requirements for the automotive industry. Through this evolution we believe OEMs will need partners who can anticipate changes and translate them into reliable, cost-effective solutions at scale. Our partnership with Forsee Power brings together complementary strengths in battery-system technology, automotive engineering, manufacturing and customer relationships. It represents an important step in expanding Varroc’s portfolio to address the evolving needs of our market and the future of mobility. This will further enhance addressable content per electric vehicle in all the segment."

Christophe Gurtner, Chairman and CEO, Forsee Power, said, "With the rapid growth of electric mobility adoption in India, the opportunity is clear and we are ready to scale. Joining forces with Varroc combines our battery technology with local industrial strength and customer access. Three-wheelers are our starting point, with a clear ambition to expand across two-wheeler, commercial and industrial vehicles."

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