Export demand uncertainty persists
North America remains hazy due to tariff confusion and EPA 2027 emission norm uncertainty causing demand slump with some major customers. Timing of recovery remains unclear.
SUNDRMFAST / Q1-FY26 / risks
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Sundram Fasteners · Material risks, their source context, and severity in the latest available quarter.
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Material risks this quarter
high
Stellantis EV order further delayed
EV orders for Stellantis shifted by another quarter and will now begin only at year-end (previously expected July). This delays revenue ramp-up from new EV platforms.
Raw material cost headwind
Steel rods/bars at INR 70,000 currently vs INR 45,000-50,000 two years ago. Further margin expansion unlikely until steel prices roll back further.
Tariff reimbursement not contractually secured
Analyst questioned whether tariff costs are fully absorbed by customers. Management confirmed no cases of cost-sharing demanded yet, but customers are not giving 100% contractual commitments, creating ongoing exposure as situation evolves monthly.