In the highly competitive auto accessories market, it's not easy for companies to continue to make profits, but Sundram fastener, India's largest fastener manufacturer, has. The builder, who started in Chennai, made profits from high margin products, with a return on equity of 21.84% in fiscal 2016, which is 2.2 times higher than the return on equity of the same industry. Sundramfastener uses three different ways to increase profits:

First of all, Sundram has increased its market share through the production of high margin products, such as hub, shaft, metal parts, cold and hot forging products and pump accessories. Compared with the traditional fastener industry's profit of 9-12%, the profit of this kind of high profit product is 14-22%.

Second, Sundram continues to increase the cost of spare parts and appliances for new product development. This increases the potential revenue for new product development.

Finally, Sundram's export earnings continued to increase. Sundram's export earnings contributed nearly 30% of total revenue in fiscal 2016.

Sundram's outstanding performance is likely to continue due to the production of more high value-added products, increased revenue and market satisfaction with auto parts. Analysts expect Sundram's domestic and foreign sales to increase by 13% and 15% respectively over the next fiscal year.