Examples of fasteners are clamps, clips, nails, screws, nuts, bolts and staples. They depend mainly on the automobile, agri and construction equipment, appliances, infrastructure. So, when there is a general slowdown in the economy, fastener sales would slow as well. There are many fastener companies in India as listed in Indiamart and Alibaba.com. there are 4 listed companies which I think fall in this category. Sundaram is biggest with 1800 Cr of yearly sales. Other companies like GS Auto International, Simmonds Marshall and Lakshmi precision are smaller players – many unlisted players are competitors in this space. I don’t know of any niche which any these smaller players have.
Sundaram has considerable debt. It paid 1.6% of its sales for interest payment alone.
Sundaram makes a net profit of around 100 Cr. Costing around 13 times for a 5 - 6% NPM. Unless I expect the profit the rise, I would rather wait to buy at lower prices.
Sundaram has manufacturing facilities in india, China, UK, Malaysia and Germany. It is part of the TVS group with rich history and very good presence in auto and engineering segment. Promoters hold around 49% shares.
| Company | Price | bse code | nse code | marketcap | High | low |
| G S Auto International Ltd. | 19.35 | 513059 | GSAUTO | 15.48 | 35.3 | 17.6 |
| Sundram Fasteners Ltd. | 64.1 | 500403 | SUNDRMFAST | 1346.74 | 76.5 | 45.1 |
| Simmonds Marshall Ltd. | 37 | 507998 | SIMMOND | 41.44 | 59.7 | 25.6 |
| Lakshmi Precision Screws Ltd. | 45 | 506079 | LAKSMIPR | 49.05 | 87.75 | 40 |
Sundaram has considerable debt. It paid 1.6% of its sales for interest payment alone.
| Company | BAL Sheet | reserves | secured loans | unsecured loans |
| G S Auto International Ltd. | Mar ' 10 | 17.57 | 10.39 | |
| Sundram Fasteners Ltd. | Mar ' 10 | 459.14 | 369.39 | 198.52 |
| Simmonds Marshall Ltd. | Mar ' 10 | 13.16 | 12.78 | 0.93 |
| Lakshmi Precision Screws Ltd. | Mar ' 10 | 76.56 | 113.85 | 6.01 |
Sundaram makes a net profit of around 100 Cr. Costing around 13 times for a 5 - 6% NPM. Unless I expect the profit the rise, I would rather wait to buy at lower prices.
| Company | annual res | sales | net profit | interest | NPM | PE |
| G S Auto International Ltd. | Mar ' 11 | 119.65 | 4.36 | 1.52 | 3.64 | 3.55 |
| Sundram Fasteners Ltd. | Mar ' 11 | 1812.36 | 105.43 | 29.66 | 5.81 | 12.77 |
| Simmonds Marshall Ltd. | Mar ' 11 | 71.22 | 8.24 | 2.03 | 11.52 | 5.02 |
| Lakshmi Precision Screws Ltd. | Mar ' 11 | 307.16 | 8.88 | 18.35 | 2.83 | 5.52 |
Sundaram has manufacturing facilities in india, China, UK, Malaysia and Germany. It is part of the TVS group with rich history and very good presence in auto and engineering segment. Promoters hold around 49% shares.
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