Motherson Sumi Systems Ltd. sets new benchmark with Highest Ever Revenue of INR 12,967 crores in a Quarter

Motherson Sumi Systems Limited (MSSL) today announced financial results for its fiscal 2017-2018 first quarter, which ended on 30th June 2017.

Highlights Q1 FY17-18

- Revenues up by 25%, EBITDA up by 28%
- Revenues within India up by 24%, Outside India up by 25%,
- PKC Group results consolidated for the first time, PKC revenues* up by 15%, EBITDA* up by 24 % in Euro Terms
- In Euro terms, SMRPBV saw consistent organic revenue & EBITDA growth of 13%
- Moody's assigned investment grade Baa3 rating to MSSL
- SMRP BV issued Euro 300 mn 1.8% Senior Secured Notes due July 2024. Proceeds used in July 2017 for early redemption of Euro 500 mn, 4.125% senior secured notes issued in 2014 and were due in 2021. This will lead to substantial reduction in interest costs
- Globally, 10 plants are at different stages of completion out of which 3 new plants have been added while 2 plants have started operations since the previous announcement made during the results for Dec 2016 quarter.

The company posted quarterly consolidated revenues of INR 12,967 Cr. and consolidated EBITDA of INR 1,186 Cr. These results compare to revenues of INR 10,352 Cr. and EBITDA of INR 928 Cr in the same quarter in the previous year.

Note: Following conservative accounting policy, MSSL has charged following costs in the current quarter, had these not been provided, the PAT and PAT (concern share) would have been higher by approx. Rs. 219 crores and Rs. 132 crores to Rs. 566 crores and Rs. 410 crores respectively.

"We are very pleased with the way the operational integration of PKC into MSSL is progressing and with the responses from customers to our stronger offering. Another successful bond issue at SMRP BV reflects the confidence of the market on MSSL and its subsidiaries. Our new plant build-ups are progressing well. In Hungary and the USA, SMP is nearing the scheduled customer launch dates with two large facilities. This will further strengthen our ability to meet the requirements of our customers in these regions." said Vivek Chaand Sehgal, MSSL's Chairman.

Shares of MOTHERSON SUMI SYSTEMS LTD. was last trading in BSE at Rs.323.85 as compared to the previous close of Rs. 317.5. The total number of shares traded during the day was 148877 in over 2494 trades.

The stock hit an intraday high of Rs. 327 and intraday low of 305.4. The net turnover during the day was Rs. 47168450.

Source : Equity Bulls

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