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Samvardhana Motherson International Ltd Reported Highest ever Quarterly Revenue in Q1 of FY23

Highest ever quarterly revenues for SAMIL, revenue growth of 2.5% in spite of lower production volumes in Q1; PAT grew by 16% despite inflationary pressures; the company sets Carbon Net Zero ambition for its current global operations by 2040.

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Samvardhana Motherson International Limited (SAMIL) [formerly Motherson Sumi Systems Ltd.] announced its financial results for the fiscal 2022-23 first quarter, which ended on 30th June 2022.

Commenting on the results, Mr. Vivek Chaand Sehgal, Chairman, Motherson said, “The market demand remains strong, however, due to various supply chain constraints including chip shortages, production volumes of OEMs continued to fluctuate. The passenger car sales have shown improving trend from April to June. This quarter’s results are to be seen in the backdrop of continued high inflation, elevated freight, energy costs etc. Our teams are engaged with customers to align with them on the unusual inflationary pressures faced by the industry and the new macro environment, it’s work in progress. In order to create a better world for future generations and in line with our customers’ expectations, we are setting the ambitious goal of becoming Carbon Net Zero across our current global operations by 2040.”

Consolidated Financial Highlights (   Q1FY23)

·         Quarterly revenues of Rs. 17,615 crores

·         Quarterly EBITDA of Rs 1,151 crores, margin of 6.5%

·         Quarterly PAT of Rs 141 crores

Sr noBusiness DivisionRevenues*

(INR Crores)

% of SAMIL Revenue*EBITDA

(INR Crores)

1Wiring Harness6,096~29%483
2Modules & Polymer Products9,413~46%481
3Vision Systems3,482~17%293
4Others**1,617~8%177

The table above shows Revenue from operations. The Revenue and EBITDA numbers are based on the gross numbers for Q1 FY23 i.e. before elimination of inter segment revenues and joint ventures and associates accounted for as per equity method.

**Others includes – Elastomer, Lighting & Electronics, Precision Metals & Modules along with the new non-automotive divisions of Aerospace, Healthcare, Logistics and Technology & Industrial Solutions and Services.

Samvardhana Motherson International Limited (SAMIL) [Formerly Motherson Sumi Systems Ltd.]

 

Samvardhana Motherson International Limited (SAMIL) is one of the world’s leading specialised automotive component manufacturing companies for OEMs. The company, formerly known as Motherson Sumi Systems Limited was established in 1986 as a joint venture with Sumitomo Wiring Systems and was listed in 1993 on BSE and NSE in India.

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