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Fasteners diversification

Sundram Fasteners Ltd is to extend into the aerospace and defence sectors, partly to reduce the company's dependence on the automotive sector. Managing director Arathi Krishna confirmed: We have commenced operations in defense and aerospace to de-risk our business model, and shelter it against the cyclical nature of the auto industry. Currently, the auto to non-auto business stands at 80:20 ratio. Going forward, we would like that to be in the ratio of 75:25.