Motherson Sumi - Good All-Round Q3 Performance; Recovery In SMP Sustains: Motilal Oswal  
A worker assembles a wire harness at the Motherson Sumi plant in Faridabad. (Photographer: Brent Lewin/Bloomberg)

Motherson Sumi - Good All-Round Q3 Performance; Recovery In SMP Sustains: Motilal Oswal  

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.

Motilal Oswal Report

Motherson Sumi Systems Ltd.’s Q3 FY21 performance was a beat, led by all round strong performances across businesses.

The recovery in Samvardhana Motherson Peguform sustained with the best-ever Ebitda margin at 9.5%.

The company is well-positioned to benefit from a demand recovery as well as efficiency improvement at its greenfield plants.

We upgrade our FY22E earnings per share by 7%, factoring in a stronger recovery in Samvardhana Motherson Automotive Systems Group BV, India, and PKC Group.

The company is our preferred bet to play the global recovery in auto.

Click on the attachment to read the full report:

Motilal Oswal Motherson Sumi Q3FY21 Reseult Update.pdf

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