Page 5 - Samvardhana Motherson International

Samvardhana Motherson Q2 net profit rises to Rs 288 crore on strong sales

Auto component major Samvardhana Motherson International on Thursday said its consolidated net profit surged more than three-fold to Rs 288 crore in the second quarter ended September, aided by strong sales across business verticals. The company had reported a net profit of Rs 93 crore for the July-September period of last year. Total revenue from operations rose to Rs 18,261 crore in the second quarter of the current fiscal as against Rs 14,076 crore in the year-ago period, according to a regulatory filing. "We are seeing improvement in the external environment though it remains volatile and uncertain. While constructive discussions with customers on sharing of inflationary cost structures are moving in a positive direction, this continues to be a work in progress quarter," the company's Chairman Vivek Chaand Sehgal said. The strong growth in order book to 18.2 billion euros at SMRP BV is a testimony of the company's strong relationship with its customers, he added. "Full credit

Sojitz Corp sells 2.83% stake in Samvardhana Motherson for Rs 825 crore

Sojitz Corporation on Tuesday divested 2.83 per cent stake in auto component major Samvardhana Motherson International for Rs 825 crore through an open market transaction. According to the bulk deal data available with the BSE, Sojitz Corporation offloaded 12,80,00,000 shares, amounting to 2.83 per cent stake in the company. The shares were disposed of at an average price of Rs 64.53 apiece, taking the transaction value to Rs 825.98 crore. In July 2020, the Motherson Group announced that they will reorganise its businesses and will change the name of Motherson Sumi Systems Ltd (MSSL) to Samvardhana Motherson International Ltd (SAMIL). Shares of Samvardhana Motherson International closed 7.73 per cent lower at Rs 63.85 apiece on the BSE.

Samvardhana Motherson slips 7%, hits new 52-week low after block deal

At 09:15 AM, around 133.35 million shares representing 2.95 per cent of total equity of the company changed hands on the BSE in a block deal, the exchange data shows.

Samvardhana Motherson to acquire DICV's frame manufacturing, assembly ops

Auto components maker Samvardhana Motherson International Ltd on Thursday said it will acquire Daimler India Commercial Vehicles' (DICV) frame manufacturing and assembly operations facilities in Chennai. The company, formerly known as Motherson Sumi Systems Ltd, has signed a strategic agreement, including a long-term deal with DICV for supply of the complete frame assembly as a part of the transaction, Samvardhana Motherson International Ltd (SAMIL) said in a regulatory filing. At present, SAMIL, through a wholly-owned arm, runs the manufacturing operations of the frame manufacturing facility of DICV but the frame assembly operations are managed by DICV itself in a separate facility, it added. "Once the transaction is completed, SAMIL will own the assets, including long-term leasehold rights for land, and will run end-to-end operations for frame manufacturing and assembly and supply to DICV under the long-term supply contract," it added. SAMIL said the acquisition will be carried o

Samvardhana Motherson shares rises 3% post bonus shares issue announcement

The company has decided to issue bonus shares in the ratio of 1 bonus equity share against 2 existing equity shares, which will be subject to shareholders approval.

Motherson in race for Marelli Holdings' restructuring: Report

Motherson has partnered with US investment fund KKR to negotiate with Marelli on the terms and conditions of support ahead of the second round of bidding

Samvardhana Motherson acquires MS Global India from Korea-based MS Group

MSGI is a supplier of various components, including frames for chassis of commercial vehicles