Speaking about EV, Suresh Krishna, CMD of Sundram Fasteners said that by 2030 only 8 percent of the vehicles produced in the world will be electric. The inflection point will come in 2040 when it is expected that about 30-40 percent of the vehicles produced in the world will be electric.
Sundram Fasteners is a 50 year old company started with just a few lakh rupees and now a turnover of Rs 3,500 crore. This was achieved under an able leadership of company's CMD, Suresh Krishna.
In an interview to CNBC-TV18, S Meenakshisundaram, CFO of Sundram Fasteners spoke about the results and his outlook for the company.
Its outstanding loans as of March 2016 stand at Rs 580 crore. The company's debt has reduced by Rs 150 crore, says S Meenakshisundaram, CFO, Sundaram Fatseners.
S Meenakshisundaram, CFO, Sundram Fasteners, says the company has divested stake in its German subsidiary entirely.
Speaking to CNBC-TV18, Suresh Krishna, CMD of the company says high technology products aided margins growth in Q3.