Samvardhana Motherson Q1 FY23 revenue up 2.5% to INR 17,615 crore, Auto News, ET Auto


Samvardhana Motherson Q1 FY23 revenue up 2.5% to INR 17,615 crore

New Delhi: Samvardhana Motherson International Limited (SAMIL), formerly Motherson Sumi Systems Ltd., reported revenue growth of 2.5% for Q1 FY23 at INR 17,615 crore in spite of lower production volumes.

Despite inflationary pressures, the company’s PAT grew by 16% to INR 141 crores.

Vivek Chaand Sehgal, Chairman, Motherson, said, “The market demand remains strong, however, due to various supply chain constraints including chip shortages, production volumes of OEMs continue to fluctuate. The passenger car sales have shown an improving trend from April to June. This quarter’s results are to be seen in the backdrop of continued high inflation, elevated freight, energy costs, etc.”

In order to create a better world for future generations and align with customers’ expectations, the company is also setting the ambitious goal of becoming Carbon Net Zero across its current global operations by 2040.

Auto component major’s quarterly EBITDA was reported at INR 1,151 crore and a margin of 6.5%.

S. No. Business Division Revenues (INR crores) Percentage of SAMIL Revenue EBITDA (INR crores)
1 Wiring Harness 6,096 ~29% 483
2 Modules & Polymer Products 9,413 ~46% 481
3 Vision Systems 3,482 ~17% 293
4 Others** 1,617 ~8% 177

Also Read:

During the quarter, the company realigned its operations in Bengaluru and Chennai to cater to the increased customer requirements. The company is also adding a new facility in Chennai to support the growth in the region, a company regulatory filing said.

The company also announced that its the eighth successive quarter of double-digit EBITDA margin with EBITDA of INR 106.6 crore, owing to higher operational efficiencies and EBITDA margin of 10.6%, a growth of 246% YoY, the company said.