Mumbai
Motherson Sumi
Systems Limited (MSSL), one of the world’s leading specialized automotive
component manufacturing companies for OEMs, has reported 290% growth in the
Profit after Tax (PAT) for 2020-21. The consolidated quarterly revenues were $
24.40 billion, which is 19% more than the same last year. At the standalone
level also, the company has shown a robust performance, which means a 33%
growth in revenues and 38% growth in EBITDA. When it comes to debt, the company
has shown improved profitability and realization of revenues that has led to
the lowest ever “Debt / EBITDA”.
Moody’s has
upgraded its outlook and the current rating is Ba1. The board has decided on a
dividend of Rs. 1.50 per share. At operational levels, as the industry picked
up globally, the consolidated revenues in Q4FY21 were more than pre-COVID
times. The company sustained profitability despite the challenges like higher
commodity costs and chip shortages.
According to
Vivek Chaand Sehgal, Chairman, Motherson Sumi Systems Ltd, the company is
saddened by the loss of its employees due to Covid-19. He also mourned about S
C Tripathi, Director and Chairman of the audit committee, who passed away
during the pandemic. The company is united in these testing times and is
committed to ensuring the safety of its employees. He also appreciated the
shareholders who have supported the re-organization of the groups. The results
of Q4 and FY21 show that the team is hard working and did not lose hope despite
multiple challenges. The team is geared to achieve its stated Vision 2025
targets.
The company has
its presence in 41 countries across five continents. It is the largest auto
ancillary in India and was recognised as the fabulous 50 companies by Forbes
magazine in India.
Source – Press release of "Motherson Sumi Systems
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