08th Feb 2023 – Samvardhana Motherson International Limited (SAMIL) [formerly Motherson Sumi Systems Ltd.] today announced itsfinancial results for the fiscal 2022-23 third quarter, which ended on 31st December 2022.
Commenting on the results, Mr. Vivek Chaand Sehgal, Chairman, Motherson said,
“These results demonstrate strong fundamentals of the company and continued focus on operational efficiencies. Our teams across the worldhave worked very hard during the challenging quarters and would like to congratulate them for their efforts. With further improvement expected in business environment, we are poised to deliver greater value to our stakeholders. We also want to thank our customers for their continued trust in Motherson.
Q3FY23
Financial Highlights
· Quarterly revenues of Rs. 20,226 crores, up by 11% QoQ and by 25% YoY
· Quarterly EBITDA of Rs 1,684 crores, up by 13% QoQ and by 44% YoY
· Quarterly PAT of Rs 454 crores, up by 85% QoQ and by 388% YoY
Other Highlights
· Growth in absolute EBITDA on account of production volume recovery and improved realisations
· Debt levels remain under control, Net debt to EBITDA improved from 2.0 to 1.8.
· Controlled capex spends (Rs 619 Crores, 37% of EBITDA), QoQ increase on account of customer led new programs
· Continued traction on EV sales (6%+ of revenue)
· Sharing of inflationary cost structures continues with customers
