Motherson Sumi Systems Limited reports September 16 results

motherson-sumi-systems-ltd

  • Net Debt reduces to 50% of March 16 level,                                                                                                    
  • Q2 Revenue Rs. 10,018 crores up by 15%,                                                                             
  • Q2 net profit Rs. 361 crores up by 25%.

Motherson Sumi Systems Limited (MSSL) today announced financial results for its fiscal 2016-2017 second quarter, which ended on 30th September 2016.

Highlights Q2 FY16-17 Highlights H1 FY16-17
·  MSSL posted revenue in excess of INR 10,000 crores for 3rd consecutive quarter

·  Revenues up by 15%, Sales outside India up by 14%, Domestic sales up by 20%

·  PAT up by 25% on account of overall performance improvement by all business divisions

·  EBITDA up by 15% backed by strong continued improvement

·  Strong performance on Standalone basis with 18% growth in revenues & EBITDA.

·  Reduction in Net debt to almost 50% of debt levels as was on 31st March 2016

·  Revenues up by 16%, Sales outside India grew by 15%,  Domestic sales grew by 20%

·  PAT up by 19%

·  EBITDA up by 17%

·  New orders worth Rs. 12,000 crores*                         (Euro 1.6 billion) approx. won during the H1FY17 at SMRP BV

·  Total order book of over Rs.89,000 crores                   (Euro 11.9 billion) approx. at SMRP BV

·  Execution of orders worth over Rs.23,000       crores (Euro 3.09 billion) approx. started         during H1FY17.

 *lifetime value

The company posted quarterly consolidated revenues of INR 10,018 crores up by 15% and consolidated quarterly profit after taxes (PAT) of INR 361 crores, up by 25%. These results compare to revenues of INR 8,715 crores and profit after taxes of INR 288 crores in the same quarter in the previous year. The growth was fueled by strong performance across the major product divisions and geographies.

“We continue to consolidate operational improvements in our performance which is reflected in healthy growth of profits. The Q2 revenues are encouraging with 20% growth in domestic sales. SMRP BV has commenced execution of large orders at some of the new facilities, these have received tremendous response from our esteemed customers. The reduction in net debt provides additional headroom to prepare for growth. Our organic growth is firmly on track to reaching our 2020 targets.” said Vivek Chaand Sehgal, MSSL’s Chairman.

Q2 FY16-17 Consolidated performance highlights

INR Crore Q2
FY16 FY17 Growth (%)
Revenue 8,715 10,018 15%
EBITDA 878 1,007 15%
PBT 522 649 24%
Net Profit 288 361 25%
EPS 2.2 2.7 23%

 

 (INR Crore) 31.03.2016 30.09.2016 Change
  Net Debt 4,301 2,175 ≈ 50%
  • Standalone revenues grew by 18% to INR 1,556 crores and EBITDA grew by 18%.
  • In Euro terms, SMRPBV saw consistent organic revenue growth of 13% & EBITDA growth of 18%
  • SMR revenues grew by 16% & EBITDA grew by 20%
  • SMP revenues grew by 11% and EBITDA grew by 17%.

Strong new customer orders indicate further diversification

MSSL is pleased to announce that SMRP BV commenced commercial execution of orders worth Rs. 23,000 crores (Euro 3.09 billion approx.) during the H1FY17. The subsidiary has won new orders worth Rs. 12,000 crores (Euro 1.6 billion approx.) during the same period, which takes the total order book position to over Rs. 89,000 crores (Euro 11.9 billion approx.)

About Motherson Sumi Systems Limited

Motherson Sumi Systems Limited (MSSL) is one of the world’s fastest growing specialised automotive component manufacturing company for OEMs. It was established in 1986 and 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. With a diverse global customer base comprising of almost all leading automobile manufacturers globally, the company has a presence in 26 countries across six continents. MSSL is currently the largest auto ancillary in India and among the Fab 50 companies of India by Forbes magazine. MSSL is the flagship company of the Samvardhana Motherson Group (SMG) which is ranked 31st among global automotive suppliers by Automotive News

Motherson Sumi Systems Limited Q2FY16-17 earnings presentation

mssl-presentation-on-results-q2fy16-17

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