Motherson Sumi drops amid volatility after Q4 earnings

Motherson Sumi Systems fell 1.88% to Rs 502 at 12:20 IST on BSE after consolidated net profit rose 12.21% to Rs 340 crore on 12.46% growth in revenue to Rs 9322 crore in Q4 March 2015 over Q4 March 2014.

The Q4 result was announced during market hours today, 12 May 2015.

Meanwhile, the S&P BSE Sensex was down 548.82 points or 2% at 26,958.48.

On BSE, so far 3.37 lakh shares were traded in the counter as against average daily volume of 1.38 lakh shares in the past one quarter.

The stock was volatile. The stock fell as much as 3.04% at the day's low of Rs 496 so far during the day. The stock rose as much as 1.01% at the day's high of Rs 516.80 so far during the day. The stock had hit a record high of Rs 534.40 on 20 April 2015. The stock had hit a 52-week low of Rs 256.90 on 16 May 2014.

The stock had outperformed the market over the past one month till 11 May 2015, advancing 0.64% compared with Sensex's 4.75% fall. The scrip had also outperformed the market in past one quarter, surging 10.38% as against Sensex's 3.6% fall.

The large-cap company has equity capital of Rs 88.19 crore. Face value per share is Re 1.

Motherson Sumi Systems (MSSL) has announced its new 5-year plan. The company targets revenue of $18 billion by 2020 with ROCE of 40% and dividend payout ratio of 40%. MSSL's Chairman Vivek Chaand Sehgal said that the company will pursue these targets through organic growth, as well as through customer-led acquisitions and the organic growth of these acquisitions within the Motherson family.

Motherson Sumi Systems supplies components, modules and systems to the automotive sector. Its business portfolio encompasses electrical distribution system (EDS), polymer products and complete module solutions. It is the largest supplier of EDS to the Indian automotive industry.

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