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Motherson Sumi Systems Limited

Source Name: Motherson Sumi Systems Limited

Motherson Sumi Systems Limited Announces Q1 FY 2014-15 Results

Highlights

Aug 12, 2014   15:50 IST 
India


•    Consolidated revenues up by 18%, EBITDA by 19% and PBT by 27%. Reported PAT grew by 125%, after providing for exceptional expenses of Rs.46 crores . SMR and SMP report improved performance

•    Standalone revenues up by 13%, EBITDA up by 9% and Reported PAT grew by 36%.

•    The net consolidated debt at Rs. 4,195 crore , marginally up by Rs. 261 crores compared to 31st March 2014. The company acquired minority shareholding in SMP (16.28%) and SMR (4.82%). Consequent upon this MSSL shareholding together with SMIL increased to 100% and 98.45% respectively

•    Shareholding of SMR reorganized under Samvardhana Motherson Automotive Systems Group B.V. Netherlands (earlier known as Samvardhana Motherson BV -- now known as SMRP BV) is group holding company for both SMR and SMP. SMRP BV is subsidiary of MSSL and is joint venture with SMIL.

Commenting on company’s performance, Mr. V.C. Sehgal, Chairman, Motherson Sumi Systems Limited said,

“The company continues to deliver exceptional performance both in terms of revenues & profitability. We thank all our customers and other stakeholders for their continued trust and confidence.”

About Motherson Sumi Systems Limited

Motherson Sumi Systems Limited (MSSL) is the flagship company of the Samvardhana Motherson Group, established in 1986. It is a joint venture between Samvardhana Motherson Group and Sumitomo Wiring Systems (Japan). MSSL is a focused, dynamic and progressive company providing customers with innovative and value-added products, services and solutions. The acquisition of mirror business from Visiocorp (now renamed as Samvardhana Motherson Reflectec) and Peguform (now named Samvardhana Motherson Peguform) has helped MSSL evolve as one of the world’s leading manufacturers of automotive rear view mirrors and a leading manufacturers of instrument panels, bumpers and door trims in Europe. Recently MSSL has acquired wiring harness business of Stoneridge Inc of USA which would enable MSSL to service the growing requirement of the customers in the North America region. With a diverse global customer base comprising of almost all leading automobile manufacturers globally, the company has a presence in 25 countries across six continents. The company has completed 20 years of being listed at the Indian bourses. MSSL is currently the largest auto ancillary in India and also ranked 55th in global auto component suppliers. It is also included in Forbes Fabulous 50 Asian Companies and the Top 100 global challengers by BCG. For any details, please visit http://www.motherson.com

(CIN-L34300DL1986PLC026431)

(Note–all the numbers in the press statement are consolidated, unless stated otherwise)

For more details on earnings, please contact

Mr. G. N. Gauba                                                                                                             Mr. Pankaj Mital
CFO, Motherson Sumi Systems Limited                                                                 COO, Motherson Sumi Systems Limited
Telephone – 0120- 6752100                                                                                      Telephone – 0120- 6752100
Email - gngauba@mssl.motherson.com                                                               Email -  pankaj@mssl.motherson.com

For any other detail on Motherson Sumi Systems Limited, please contact

Mr. Dharmanshu Chaturvedi/Mr. Rahuldeep                                                           Ms. Manvi Bhatia/Mr. Abhishek Bose
Corporate Communications,                                                                                     Adfactors PR Pvt. Ltd.
Motherson Sumi Systems Limited                                                                            Mobile – 9711309173/9910049234
Telephone – 9873662460/9910085201                                                                  Email -  manvi.bhatia@adfactorspr.com
Email - dharmanshu@smil.motherson.com                                                         abhishek.bose@adfactorspr.com
rahuldeep@smil.motherson.com

 
 


 
 
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