Name: Latest research reports of Samvardhana Motherson International Ltd. authored by ICICI Securities Limited and published by - Trendlyne research reports.
Item: Samvardhana Motherson International Ltd.
Rating: 5
Author: ICICI Securities Limited

Another quarter of impressive execution; M&As to add to profitable growth ahead

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ICICI Securities Limited

Samvardhana Motherson International’s (SAMIL) Q1FY24 EBITDAM at 8.6% (down 40bps QoQ) exceeded 8.5% for the second successive quarter. This was driven by improving operating leverage, price hikes coming with lag to pass on inflation, and commodity tailwinds seeping through. Consolidated revenue was up by an impressive 28% YoY driven by 25%+ growth across key segments, with the large-ticket M&As yet to reflect in the numbers.