Motherson Sumi Systems Limited (MSSL), the flagship company of the Samvardhana Motherson Group, has achieved consolidated revenues of USS $ 5 billions for the year 2013-14, one year ahead of target for Vision 2015. The consolidated sales went up by 20%, PBT by 84% and PAT by 72% for the full FY 2013-14. For the fourth quarter of Q4 FY 13-14, the consolidated sales up by 26%, PBT by 51% and PAT by 55%. The company reported the highest ever earnings for the quarter as well for the year reported both on consolidated as well on standalone basis. The group company Samvardhana Motherson Reflectec (SMR) reported highest ever operating profit, PBT and PAT for the quarter and full year.
The group has incurred a capital expenditure of Rs 1,352 crore during FY13-14, net reduction in debt by Rs 376 crore, in spite of weakening of rupee. New orders from customers worth Euro 2.44 Billion for Samvardhana Motherson Peguform (SMP) and worth Euro 1.56 Billion for SMR in current financial year.
Commenting on company’s performance, V C Sehgal, Chairman, Motherson Sumi Systems Limited said,“We have achieved the consolidated revenues of USD 5 Bn as stated in our Vision 2015. We are working very hard to meet the other parameters which we have set for ourselves in our Vision 2015. We have improved our ROCE from 18% in 2012-13 to 26 % in FY 13-14. Thanks to our esteemed customers for their continuous trust in our abilities. It’s a testimony to the great efforts by the employees that despite one of toughest year for the automobile industry, we were able to outperform the market. We are looking ahead positively and very much sure that we will keep on delivering the promised made to our all stakeholder.”
