Motherson Sumi Q4 net falls 43 pc at Rs 429 cr

Auto components major Motherson Sumi Systems Ltd (MSSL) Monday reported 43.32 per cent decline in consolidated net profit at Rs 429.31 crore for the fourth quarter of 2018-19.

The company posted a profit of Rs 757.50 crore in the year-ago period.

Total revenue from operations stood at Rs 17,169.47 crore for the fourth quarter as against Rs 15,407.83 crore in the same period of 2017-18, MSSL said in a regulatory filing.

For 2018-19, the company posted a consolidated net profit of Rs 2,098.13 crore, down 7.15 per cent from Rs 2,259.93 crore in 2017-18.

Total revenue from operations during the last fiscal stood at Rs 63,522.88 crore as against Rs 56,521.30 crore in 2017-18.

"It is heartening to see that we have generated higher net free cash in an uncertain market condition despite ramp up of new large plants at Tuscaloosa (US) and Kecskemet (Hungary)," MSSL Chairman Vivek Chaand Sehgal said.

The auto components maker has earmarked over Rs 2,000 crore for the current fiscal.

"The capex which will be in the range of Rs 2,000-2,200 crore will be utilised for enhancing capabilities to new orders for customers. The capital would also be utilised to maintain our existing facilities," MSSL CFO G N Gauba said.

The company said it has begun execution of orders worth Rs 55,021 crore during 2018-19. It has an order book of over Rs 1.47 lakh crore.

The company's board recommended a dividend of Rs 1.50 per share of Re 1 each for the financial year ended March 31, 2019.

MSSL shares Monday settled 1.94 per cent down at Rs 116.15 apiece on the BSE.