Sundram Fasteners · Material risks, their source context, and severity in the latest available quarter.
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Risk intelligence
Most EV programs from key North American customers are being deferred based on market conditions. No new EV orders have been signed beyond existing commitments, with investments on both sides in place but revenues pushed to next year.
Heavy-duty truck and vocational truck segments continue to underperform due to EPA 2027 emission norm uncertainty and slowed construction activity. This directly impacts the 65% North America export exposure where 40% of exports are CV-related.
Passenger vehicle growth momentum was strong through festive season, but management acknowledged uncertainty on whether it will sustain post-festive period, creating risk to the 12% domestic growth trajectory.
Electric vehicle content per vehicle is currently at 80% of ICE levels (vs industry par), constraining revenue capture as EV penetration increases. This structural disadvantage may persist until de novo EV platforms mature.
