Motherson Sumi Systems Ltd. Quarterly Revenues cross Rs.17,500 crore

TwistArticleJune 2, 2021

Motherson Sumi Systems Limited Today Annouced Financial Results

Mumbai: Motherson Sumi Systems Limited (MSSL) today announced financial results for its fiscal 2020-21 fourth quarter and financial year, which ended on 31st March 2021.

Financial Highlights

Consolidated

Quarterly revenues of Rs. 17,844 crores, up by 19%.
Quarterly PAT of Rs. 714 crores, up by 290%.
Quarterly EBITDA, up by 44%.

Standalone

Robust performance on Standalone level as well, with 33% growth in revenues and 38% growth in EBITDA.

SMRP BV

Margin improvement largely sustained on QoQ basis.

Debt

Improved profitability and realization of engineering revenues helped free cash generation, leading to
“Lowest Ever” Debt / EBITDA.
Moody’s upgraded outlook while maintaining rating at Ba1.

Dividend

The board recommends a dividend of Rs. 1.50 per share i.e pay out of 45.6 % of consolidated PAT.

Operational Highlights

Consolidated revenues in Q4FY21 more than pre-COVID levels as industrial activity picked up globally.

Despite multiple headwinds such as chip shortage, higher commodity costs, etc. the company sustained profitability.

Other Highlights

Shareholder approval for reorganization received with an overwhelming majority. Second motion petition filed with NCLT.

Successfully completed two acquisitions (75% in Plast Met in Turkey and assets of Bombardier rolling stock in Mexico) in Apr-21.

Industry Update

Production shutdowns (India) and semi-conductor shortages globally likely to be headwinds for OEM production in the near term.

Commenting on results, Mr Vivek Chaand Sehgal, Chairman, Motherson Sumi Systems Ltd said, “It is with great sorrow that we pay tribute to all employees and their family members who have lost their lives due to COVID-19. We mourn the loss of Mr. S C Tripathi, our independent director and chairman of the audit committee, who recently passed away due to the pandemic. We as a Motherson family are united in the testing times and are fully committed to ensuring the safety of all our employees.

We appreciate the overwhelming support from shareholders with regards to the group re-organization. It reinforces our belief in the merits of the reorganization scheme. The Q4 and FY21 results are reflections of the tremendous hard work that our teams have put in globally despite multiple challenges and sets the tone for us to achieve our stated Vision 2025 targets.”