Sundaram Fasteners Ltd. (SFL) is in the process of devising a plan to grow faster and iron out variations in its performance arising out of economic cycles, said its Chairman and Managing Director, Suresh Krishna on Friday. Addressing the 52 AGM of SFL, he said they have set aside Rs.150 crore for 2015-16 against Rs.600 crore invested in the last five years. “Over the past five years, on a standalone basis, total revenues have increased from Rs.1,339 crore to Rs.2,409 crore. Export turnover increased from Rs.332 crore to Rs.900 crore. These performances have been achieved despite downtrend in domestic market due to uncertain political and economic conditions and economic down-turn in developed markets of the world. SFL recognises the need to grow faster and iron out variations in its performance arising out of economic cycles. SFL is in the process of devising plans to increase its revenues,” he said. Mr. Krishna said that they extended implementation of total quality management (TQM) practices across major divisions more vigorously to improve its all-round efficiency of operations. Regarding the current scenario, he said “Indian subsidiary companies have so far done better. Our overseas subsidiary companies are facing slowdown due to economic and industrial down-turn in the countries they are operating. With Indian economy returning to a growth path resulting in improved market sentiment and based on current order book position, I expect standalone sales and profits to be higher.” “The Indian automotive industry is still a sunrise sector which attracts global notice and investment.” Source: The Hindu