– Consolidated Revenues of MSSL grew by 13%.
– Standalone revenues of the MSSL grew by 12%.
– In Euro terms, SMR and SMP grew by 13% and 19% respectively.
– SMR & SMP have also reported consistent growth and improvement in profitability.
– Progress of 14 new facilities is on schedule , 3 facilities completed and under start up.
– The current net debt is reduced to Rs. 4,711 crores from Rs. 5,127 crores as reported during previous quarter, AFTER capex of Rs. 600 crores (approx) on expansion of global facilities.
– MSSL successfully closed the deal for purchase of assets of Scherer & Trier group (S&T). Our customers have reiterated their confidence by giving us this opportunity. The company develops and manufactures high-end surface finish aesthetic and engineering profiles and moulded parts made of thermoplastics and hybrid components made of metal and plastic. The current turnover of “Scherer & Trier” is in the range of Euro 240 million. This is the 3rdacquisition by MSSL this year. It further consolidates MSSL’s polymer business in Europe & North America.
Commenting on company’s performance, Mr. V.C. Sehgal, Chairman, Motherson Sumi Systems Limited said, “The strong revenue growth, improved operational performance coupled with prudent financial management has resulted in the company consistently outperforming the market. As the global markets are also picking up, we expect the company to keep on delivering exceptional performance. We thank all our customers and stakeholders for reposing their trust in us.”
