SAMIL posts over Rs 20,000 crores revenues in a quarter, Revenues up by 11% QoQ, PAT grew by 85% to Rs. 454 crores on back of operational efficiencies
Feb 2023 – Samvardhana Motherson International Limited (SAMIL) [formerly Motherson Sumi Systems Ltd.] today announced its financial results for the fiscal 2022-23 third quarter, which ended on 31st December 2022.
Commenting on the results, Mr. Vivek Chaand Sehgal, Chairman, Motherson said, “These results demonstrate strong fundamentals of the company and continued focus on operational efficiencies. Our teams across the world have worked very hard during the challenging quarters and would like to congratulate them for their efforts. With further improvement expected in business environment, we are poised to deliver greater value to our stakeholders. We also want to thank our customers for their continued trust in Motherson.
Q3FY23
Financial Highlights
· Quarterly revenues of Rs. 20,226 crores, up by 11% QoQ and by 25% YoY
· Quarterly EBITDA of Rs 1,684 crores, up by 13% QoQ and by 44% YoY
· Quarterly PAT of Rs 454 crores, up by 85% QoQ and by 388% YoY
Other Highlights
· Growth in absolute EBITDA on account of production volume recovery and improved realisations
· Debt levels remain under control, Net debt to EBITDA improved from 2.0 to 1.8.
· Controlled capex spends (Rs 619 Crores, 37% of EBITDA), QoQ increase on account of customer led new programs
· Continued traction on EV sales (6%+ of revenue)
· Sharing of inflationary cost structures continues with 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 a focused, dynamic, and progressive company 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 300 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.