Sundaram Finance Holdings has registered a 107 per cent increase in its consolidated net profit at ₹76.20 crore for the quarter ended March 31, 2022 as compared to ₹36.82 crore in the year-ago period.
For the full year ended March 31, 2022, the consolidated net profit went up 118 per cent to ₹160.70 crore, as compared to ₹73.88 crore in FY21, according to a statement.
The Board of Directors has recommended a final dividend of ₹1 per share (20 per cent) for FY 21-22. Last year, the board recommended a dividend of ₹0.50 per share (10 per cent).
In addition, using the proceeds of the divestments made in Sundaram Clayton and TVS Investments during FY 21-22, the Board has recommended a special dividend of ₹0.75 per share (15%), which, together with the special dividend of ₹1 per share (20%) paid on February 25, 2022 will make a total special dividend of ₹1.75 per share (35%).
SF Holdings primarily operates as a holding company owning a portfolio of automotive businesses including foundries, wheels, brakes, turbo chargers, axles and distribution of spare parts. As a result, dividend from portfolio companies forms a substantial part of the financial results. Dividend received from portfolio companies was at ₹40.90 crore for the year ended March 31, 2022 as against the total dividend of ₹14.13 crore received during 2020-21.