Motherson Sumi bags order from Boeing

Motherson Sumi Systems said that it has won an order from Boeing to manufacture and supply aftermarket molded polymer parts for commercial airplane interiors.

This is the first order for Motherson from Boeing. The order will commence from Q3 FY23 and will be produced in a Motherson plant situated in Noida, located in the state of Uttar Pradesh in India.

Motherson is scaling its capabilities to provide integrated solutions to the aerospace industry. With capabilities in aerospace ecosystem such as materials, aerostructures, wiring harnesses and global manufacturing footprint, Motherson has the necessary knowhow to support the upcoming ramp-up of production for major global aircraft manufacturers. This is in line with our growth strategy to strengthen non-automotive business as announced during our five-year plan, Vision 2025.

Commenting on the deal, Kunal Bajaj, CEO (Aerospace division), Motherson,said, We are delighted to be a part of Boeing's global supply chain on plastic components. With this order, Motherson becomes a Tier-1 supplier to Boeing. This marks the beginning of a new journey in line with Motherson's vision for growth in aerospace.

Motherson Sumi Systems is a specialised automotive component manufacturing companies for OEMs.

The company reported 69% fall in consolidated net profit to Rs 245.08 crore in Q3 FY22 from Rs 798.38 crore in Q3 FY21. Total revenue from operations declined 6% YoY to Rs 16,117.51 crore during the quarter.

The scrip rose 2.49% to end at Rs 135.60 on the BSE on Friday.

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