Motherson Sumi Systems Limited Announces Q1 FY 2015-16 Results

Motherson Sumi Systems Limited (MSSL) today announced financial results for its fiscal 2015-2016 first quarter, which ended 30 June 2015. The Company posted quarterly consolidated revenues of INR 9,252 Cr. and consolidated quarterly profit after taxes (PAT) of INR 266 Cr., these results compare to revenues of INR 8,296 Cr. and profit after taxes of INR 164 Cr., in the year-ago quarter.

MSSL is reporting the following key quarterly results (compare to Q1 of FY 14-15):

• Consolidated revenues grew by 12 percent, PBT & PAT up by 22 percent & 62 percent (exceptional expenses of Rs.25 crores provided during the quarter) respectively.

• SMRPBV (in Euro terms) revenues grew by 25 percent and PBT & PAT up by 33 percent & 225 percent respectively

• SMRP BV raised 10 years Bonds of Euro 100 millions@3.7% pa and also enhanced revolving credit facilities to Euro 350 million

• The company’s subsidiary SMP is nominated in the Volkswagen Group Procurement Strategic Partners ( Future Automotive Supply Tracks)

• 6 new plants / expansion initiated to take care of the requirements of customers. 14 other plants at various stages of completion.

Commenting on company’s performance, Mr. V.C. Sehgal, Chairman, Motherson Sumi Systems Limited said, “We are thankful to our customers for always reposing their trust in us and giving us opportunities to partner with them globally. We are strengthening our base to service the requirements of our customers and in line with the 2020 targets. The facilities that we are creating would form the foundation of our growth over the coming 5 years. “

About Motherson Sumi Systems Limited:

Motherson Sumi Systems Limited (MSSL) is the flagship company of the Samvardhana Motherson Group, established in 1986. It is a joint venture between Samvardhana Motherson Group and Sumitomo Wiring Systems (Japan). MSSL is a focused, dynamic and progressive company providing customers with innovative and value-added products, services and solutions. The acquisition of mirror business from Visiocorp (now renamed as Samvardhana Motherson Reflectec) and Peguform (now named Samvardhana Motherson Peguform) has helped MSSL evolve as one of the world’s leading manufacturers of automotive rear view mirrors and a leading manufacturers of instrument panels, bumpers and door trims in Europe. With a diverse global customer base comprising of almost all leading automobile manufacturers globally, the company has a presence in 25 countries across six continents. The company has completed over 20 years of being listed at the Indian bourses. MSSL is currently the largest auto ancillary in India and also ranked 55th in global auto component suppliers. It is also included in Forbes Fabulous 50 Asian Companies and the Top 100 global challengers by BCG. For any details, please visit http://www.motherson.com

(CIN-L34300DL1986PLC026431)

(Note – all the numbers in the press statement are consolidated, unless stated otherwise)