Motherson Sumi Systems Ltd. (MSSL) today announced financial results for its fiscal 2020-21 third quarter, which ended on 31st December 2020.
Financial Highlights
Consolidated
- Highest ever quarterly revenues of Rs. 17,923 crores, up by 15%
- Quarterly PAT of Rs. 798 crores, up by 194%.
- Quarterly EBITDA, up by 56%
Standalone
- Robust performance on Standalone level as well, with 27% growth in revenues and 49% growth in PAT
SMRP BV
- Impressive performance at SMRP BV level, both SMR & SMP registered revenue & EBITDA growth
Debt
- With strong operating cash flows, net debt lowest compared to previous fourteen quarters
- Gross levels are also reduced to optimize finance cost
Operational Highlights
- Operations have normalised, with most facilities running at pre-covid levels
- Indications of positive consumer sentiments reflected by increased demand globally’
- Sustained improvements in performance of Greenfield plants with a continued focus on cost reduction and efficiency improvements
Other Highlights
- Filing of petition for reorganisation with NCLT done in December 2020 and hearing has been scheduled for mid-February 2021
- Industry outlook – OEMs continue to work with suppliers, given challenges in supply of certain critical components
Commenting on the results, Mr Vivek Chaand Sehgal, Chairman, Motherson Sumi Systems Ltd said, “Our global teams have put in tremendous efforts in challenging conditions to ensure uninterrupted supplies to our customers. These quarterly numbers are reflection of their hard work as well the trust of our customers on Motherson. With the rollout of COVID vaccine in different parts of the world, we are optimistic that the demand and positive sentiments will improve in the upcoming quarters”.
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