Motherson Sumi Systems drops on profit booking after announcing strong Q1 results

Motherson Sumi Systems dropped 1.25% to Rs 385.90 at 13:00 IST on BSE on profit booking after witnessing a pre result rally.

Meanwhile, the S&P BSE Sensex was down 24.93 points or 0.07% at 28,202.79.

On BSE, so far 1.93 lakh shares were traded in the counter as against average daily volume of 2.28 lakh shares in the past one quarter.

The stock hit a high of Rs 395.85, which was also a record high for the stock. The stock hit a low of Rs 378.80 so far during the day. The stock had hit a 52-week low of Rs 229.57 on 13 August 2014.

The stock had outperformed the market over the past one month till 5 August 2015, rising 11.33% compared with Sensex's 0.46% gain. The scrip had also outperformed the market in past one quarter, gaining 16.19% as against Sensex's 2.85% gain.

The large-cap company has equity capital of Rs 132.29 crore. Face value per share is Re 1.

From a recent low of Rs 337.20 on 30 July 2015, the stock had jumped 15.9% to Rs 390.80 on 5 August 2015, in four trading sessions, ahead of announcement ot Q1 results.

Motherson Sumi Systems' consolidated net profit rose 62.32% to Rs 265.76 crore on 12.07% rise in total income to Rs 9409.51 crore in Q1 June 2015 over Q1 June 2014. The result was announced during market hours today, 6 August 2015.

Consolidated EBITDA (earnings before interest, taxes, depreciation and amortization) margin rose to 9.1% in Q1 June 2015 from 8.9% in Q1 June 2014.

Mr. V.C. Sehgal, Chairman, Motherson Sumi Systems said: The company is strengthening its base to service the requirements of its customers and in line with the 2020 targets. The facilities that the company is creating would form the foundation of growth over the coming 5 years.

Samvardhana Motherson Group (SMG) founded in 1975, has a diversified industry-leading portfolio of auto ancillary products and services that make it a full system solutions provider for its customers across the globe. With market leading products ranging from Electrical Distribution Systems, automotive rearview mirrors, polymer processing, lighting systems, air intake manifolds and HVAC systems. SMG's principal focus is the automotive industry, globally and in India.

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