Auto Parts & Equipments company Motherson Sumi Wiring India announced Q1FY24 results: Revenues of Rs 1,859 crore, up by 11% YoY PAT of Rs 123 crore, down by 2% on YoY Growth in revenue is aided by increasing content per vehicle and product mix Significant traction for EV (PV and CV), with YoY growth of 3x in Q1FY24 as compared to Q1FY23 Initiated supplies to 2 leading players in EV commercial segment The quarter also had block closure at some of our major customers Commenting on the results, Vivek Chaand Sehgal, Chairman, Motherson Sumi Wiring India said, “The company continues to deliver good and consistent performance. The additional capacities which were created over the past few quarters have started to contribute towards revenue growth. Operational improvements continue to support the performance despite inflationary headwinds and supply chain issues at the customer’s end. With cost reduction initiatives in place coupled with the continued support of the customers, we believe that we will continue to deliver value to our stakeholders in the upcoming quarters as well.” Result PDF
Auto Part/Equipments company Motherson Sumi Wiring India announced Q4FY23 & FY23 results: Q4FY23 revenues at Rs 1,864 crore, up by 10% EBITDA at Rs 221 crore, up by 30% QoQ in Q4FY23 EBITDA Margin at 11.9% for Q4FY23 Quartely PAT at Rs 138 crore Proud to be part of 23 new launches and 17 facelifts taken place in India during FY23 across PV, CV and 2W segments Supplying to 10 out of top 12* selling passenger vehicle models in India Strong presence in India’s EV market, supplying to 2 out of top 3 (EV PV OEMs) and 2 out of top 5 (EV 2W OEMs) Highest ever quarterly revenues since the start of operations as an independent entity Crossed Rs 7,000 crores in yearly revenue Improvement in Profitability indicating continued focus on operational efficiency including localisation 44% ROCE for the current financial year, consistent ROCE >40% Continues to be a practically debt free company Commenting on the results, Vivek Chaand Sehgal, Chairman, Motherson Sumi Wiring India said, “This was the first full year of operations for MSWIL as a separate listed company and the company has delivered a stellar performance. Ramp up phase of new facilities is over and the utilisation will scale up in the upcoming quarters. The company is a proud supplier of wiring harnesses to leading ICE and EV passenger vehicle models in India. This is a testimony of our customers’ trust on Motherson and we are grateful for that.” Result PDF
Auto parts & equipment firm Motherson Sumi Wiring India announced Q3FY23 results: Q3FY23 & 9MFY23: FY23 is first reporting financial year for MSWIL as an independent publicly listed company (Group reorganization implemented in Jan–March 2022 quarter with approval of Hon’ble NCLT, Mumbai) During FY23, MSWIL expanded capacity (capex for Q3FY23 is Rs 61 crore; 9MFY23 is Rs 147 crore) in line with customers' forecasted requirements as well as orders for new models/ programs awarded to the company. Added 3 new facilities (26 now, compared to 23 earlier) and enhanced overall capacities by over 25% in terms of manhours compared to the same period previous financial year The company developed products for 11 new /full model change and 04 facelift model in the passenger vehicle segment during the first nine months and is currently working on 06 new/full model changes which will be launched in the next 3-6 months. These will contribute nearly 40% of the total business of the company, requiring the company to hire and train additional manpower (approx 7000 people) upfront for the successful launch of these programs. Commenting on the results, Mr. Vivek Chaand Sehgal, Chairman, of Motherson Sumi Wiring India Ltd. said, “Indian automotive industry continues to face supply chain issues. Our teams are working closely with the customers to mitigate the effects of these challenges. We believe this quarter is a work in progress given products for 11 new models are already developed by the company, with required capacities in place(including three new plants). We are optimistic that in upcoming months with the stable/ growing business environment, added capacities will have higher utilisation. We are thankful to our customers for their continued support. Result PDF
Auto parts & components manufacturer Motherson Sumi Wiring India announced Q2FY23 results: Quarterly revenues of Rs. 1,835 crore, up by 31% Quarterly EBITDA of Rs 190 crore, up by 2% Quarterly PAT of Rs 116 crore, up by 2% Commenting on the results, Mr. Vivek Chaand Sehgal, Chairman, Motherson Sumi Wiring India Ltd. said, “Indian automotive industry is showing signs of revival and our customers are also ramping up production. This has resulted in one-time costs which should be mitigated in the coming quarters. The company is well positioned to leverage India growth story and mega trends, thanks to our consistent performance and long standing customer relationships.” Result PDF