ICICI Securities Ltd | Retail Equity Research Motherson Sumi's (MSL) consolidated revenues came in at | 11,284 crore (up 14.5% YoY) vs. our estimate of | 12,217 crore. Revenue from the standalone business was up 18.9% YoY to | 1,738 crore while revenue growth of its subsidiaries, SMR & SMP (in constant currency terms) grew 15% YoY & 21% YoY to 420 million (mn) (vs. estimate 431 mn) & 810 mn (vs. estimate of 736 mn), respectively EBITDA margins expanded 89 bps YoY & 66 bps QoQ to 11% vs. our...