Fasteners Sector Key Stats Revealed – Understanding the Industry
In the modern world, where everything is fast-paced, industries that provide services to fasten processes are indispensable. Fasteners are vital components in many mechanical devices, serving to hold things together securely. They are used in construction, automotive, aerospace, and mechanical engineering industries, just to name a few. In this blog, we will explore the Fasteners Sector Key Stats and understand its significance in the market.
Fortune Group: Catering to the Auto and Construction Machinery Industry for 36 years
Fortune Group is one company manufacturing fasteners and related components catering to the automotive and construction machinery industries for 36 years. They own a factory that specializes in producing bolt & nut, kingpin kits, and undercarriage parts for construction machines. The products are supplied to OEM machine brands such as Mercedes Benz, Weichai, Sino Truck, KOBELCO, SHANTUI, and many more.
Understanding Fasteners Sector
In India, the fasteners sector holds reasonable significance in the economy, and according to the Fasteners Market Analysis by Granular Research, the market is expected to grow at a CAGR of 6.2%, thus reflecting a promising future for the fasteners industry.
Fasteners Sector Key Stats – The Benchmark
Let’s have a look at the Fasteners Sector Key Stats and understand its significance to the industry.
Market Cap to Sales Ratio
Market Cap to Sales Ratio indicates the overall market valuation of a company concerning its total sales revenue. A lower ratio is considered good as it indicates that the company's sales are higher compared to its market cap, reflecting the firm's undervaluation. In the fasteners sector, the average market cap to sales ratio stands at 2.60.
P/E Ratio
The Price to Earnings Ratio is the ratio of the company's stock price to its earnings per share. It indicates how much the market is willing to pay for each dollar of earnings. In the Fasteners sector, the average P/E ratio is 23.94.
Dividend Yield
Dividend Yield is the ratio of a company's annual dividend per share divided by its stock price. It indicates how much cash is returned to shareholders compared to the price of the stock. In the Fasteners sector, the average dividend yield stands at 0.99.
Conclusion
In conclusion, we have touched upon the Fasteners Sector Key Stats and understood its significance in the industry. The fasteners industry is expected to grow in India, reflecting a positive future for the industry's manufacturers. Fortune Group has been a leading player in the sector, supplying its products to prestigious brands in the industry. Therefore, while some might consider fasteners as small components, they play a major role in many mechanical devices serving as the backbone of every fastening system.
Keywords: Fasteners Sector Key Stats, Fortune Group, construction machinery industry, automotive industry, bolt & nut, kingpin kits, undercarriage parts, OEM machine brands, industry, market, CAGR, market cap to sales ratio, P/E ratio, dividend yield.