Motherson Sumi Systems rose 2.98% to Rs 237 after the company said its board raising upto Rs 1000 crore by issuing non-convertible debentures on a private placement basis in one or more tranches.
The board of Motherson Sumi Systems in its meeting held today (8 November), has approved the issuance of rated, listed, unsecured, redeemable non-convertible debentures of face value of Rs 10,00,000 each, for an aggregate principal amount of up to Rs 1,000 crore, on a private placement basis, in one or more tranches.Motherson Sumi Systems is a leading specialised automotive component manufacturing companies for OEMs.
On a consolidated basis, the company reported a net profit (concern share) of Rs 290 crore in Q1 FY22 compared with net loss of Rs 810.45 crore in Q1 FY21. Revenue from operations jumped 98% year-on-year to Rs 16,712 crore in Q1 FY22 as against Rs 8,431 crore in Q1 FY21.
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