The board of Motherson Sumi Wiring India on Friday (30 September) recommended issuing 2 bonus equity shares against 5 existing equity shares.
The bonus issue recommendation is subject to the approval of the shareholders.
Motherson Sumi Wiring India is a leading and fast-growing full-system solutions provider to OEMs, in the wiring harness segment in India. Motherson Sumi Wiring India is a joint venture between Samvardhana Motherson International (SAMIL) [formerly Motherson Sumi Systems] and Sumitomo Wiring Systems (SWS).
The company reported a 59.8% rise in net profit to Rs 125.96 crore on a 49.8% increase in net sales to Rs 1661.68 crore in Q1 FY23 over Q1 FY22.
Shares of Motherson Sumi Wiring India rose 1.38% to Rs 85.80 on the BSE.
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