SAMIL posts revenue of Rs. 22,462 crores with 27% growth on YoY, profit stands at Rs. 601 crores
Samvardhana Motherson International Limited (SAMIL) [formerly Motherson Sumi Systems Ltd.] today announced its financial results for the first quarter of the fiscal year 2023-24, which ended on 30th June 2023.
Commenting on the results, Mr Vivek Chaand Sehgal, Chairman, Motherson said,
“We have delivered another quarter of strong performance. The automotive industry is stabilising with new cost structures and Motherson continues to adapt to the evolving landscape. We are working in close collaboration with our customers, and to better serve them in these challenging times we have closed 7 acquisitions with their support. We aim to bring innovative solutions, to streamline and solve operational issues. These acquisitions will further increase our value added content and will provide new growth opportunities for Motherson. We are grateful to our customers for their trust and support.
Motherson extends a warm welcome to over 8,500 employees of the new companies into our family. We believe that these are very exciting times for Motherson.”
Outgrowing industry by far on YoY basis with strong growth across all business divisions
Strong growth in EBITDA is driven by operating efficiency, softening in material and energy price and continued customer support
Leverage ratio of 1.4x maintained, normalisation of working capital underway
EV’s revenue has increased over Rs 1,600 crores in Q1FY24 (FY23 EV revenue was ~Rs 4,900 crores)
Macro-economic factors stabilising at elevated levels while wage bill and interest rates continue to mount pressure on profitability
Sharing of inflationary pressure continues with customers.
Continued focus on improving performance / restructuring of sub-optimal units alongside customers
Samvardhana Motherson International Limited (SAMIL) [Formerly Motherson Sumi Systems Ltd.]
Samvardhana Motherson International Limited (SAMIL) is one of the world’s leading specialised automotive component manufacturing companies for OEMs. The company, formerly known as Motherson Sumi Systems Limited, was established in 1986 as a joint venture with Sumitomo Wiring Systems and was listed in 1993 on BSE and NSE in India. The company is focused, dynamic, and progressive, providing customers with innovative and value-added products, services, and solutions. With a diverse global customer base of nearly all leading automobile manufacturers globally, the company supports its customers from more than 350 facilities across 41 countries in five continents. The company has diversified to support customers in non-automotive businesses, including technology and industrial solutions, health & medical, aerospace and logistics. SAMIL is currently the largest auto ancillary in India and is ranked among the top 25 automotive suppliers worldwide. For more details, please visit www.motherson.com (CIN – L34300MH1986PLC284510).
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