Companies

Suprajit Engineering: Covid‐19 challenges continue with supply chain, availability of manpower

Our Bureau Bengaluru | Updated on October 05, 2020 Published on October 05, 2020

Suprajit Engineering Limited, a automotive cable and halogen lamp maker, said, “October is expected to be strong based on customer schedules across the group. Post-festival season, November onwards, the outlook for the balance year is still not very clear.”

The company in a regulatory filing to exchanges said, “Operational financial performance of Q2 is expected to be normal despite Covid‐19 challenges. Covid‐19 challenges continue along with supply chain issues and availability of manpower. Company is taking effective steps to test, contain, quarantine and protect Team Suprajit in its endeavour to meet operational challenges of enhanced customer requirements.”

On the business update for the second quarter (Q2) of financial year 2020-21, the company said, “Q2 group sales were the highest ever recorded in the history with a previous high was ₹430 crore in Q4 2018‐19). Q2 group sales were about ₹450 plus crore, higher by about 15 per cent compared to Q2 of last year. All divisions, except Trifa and Luxlite, had record sales.

Indian aftermarket had the highest quarterly sales with a growth in excess of 30 per cent compared to Q2 of last year. The domestic cable division had a growth of 13 per cent compared to Q2 of last year. Phoenix Lamps Division (with its subsidiaries – Luxlite & Trifa) had a growth of 26 per cent compared to Q2 of last year. The SENA division had a growth of 10 per cent, compared to Q2 of last year.

Global automotive cable business (SAL & SEU together) had a growth of 10 per cent compared to Q2 of last year. The salary cuts in the range of 5-30 per cent based on graded scale from May onwards, have now been reverted to normal.

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Published on October 05, 2020
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