Motherson Sumi - All Round Q3 Performance: Prabhudas Lilladher 
A worker assembles a mold at the Motherson Sumi Systems Ltd. (MSSL) injection molding plant in Noida, India. (Photographer: Brent Lewin/Bloomberg)

Motherson Sumi - All Round Q3 Performance: Prabhudas Lilladher 

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

Prabhudas Lilladher Report

Motherson Sumi Systems Ltd. Q3 FY21 results were better with sharp beat at Ebitda/profit before tax by 14%/42%. led by sustained improvement in Samvardhana Motherson Peguform’s greenfield plants and continued cost reduction in all global business.

Ebitda grew 61% YoY to Rs 17.9 billion (our estimate Rs 15.7 billion) with 14 quarter high margins at 10.5% (up 310 basis points YoY, our estimate 9.6%).

Execution of a strong order book and limited capex at Samvardhana Motherson Automotive Systems Group BV as well as India business augurs well for the company.

Click on the attachment to read the full report:

Prabhudas Lilladher Motherson Sumi Q3FY21 Result Update.pdf


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