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Higher EV share, FY22 auto rebound to support Motherson's revenues

Increased utilisation, improving margins and lower debt are profit triggers going ahead

motherson sumi
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The company indicated that it is a supplier to four out of the top five electric vehicle models sold globally.

Ram Prasad Sahu Mumbai
Led by improved performance across key segments, Motherson Sumi returned to growth trajectory in the December quarter. After five consecutive quarters of year-on-year fall in revenues, the company posted 15 per cent growth in consolidated revenues.

The company’s revenues, which were a shade under Rs 18,000 crore, are its highest-ever in a quarter, led by operations recovering to pre-Covid levels and India business reporting 27 per cent growth.

It was the operating performance that stood out as the company reported a 56 per cent jump in operating profit, led by a sharp improvement in its international subsidiaries, especially SMP. Margins at SMP,

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First Published: Feb 15 2021 | 6:09 PM IST

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