Motherson Sumi Q4 Review - Strong Order Wins In H2 FY21: Prabhudas Lilladher

Workers assemble wire harnesses at the Motherson Sumi Systems plant in Faridabad, India. (Photographer: Brent Lewin/Bloomberg).

Motherson Sumi Q4 Review - Strong Order Wins In H2 FY21: 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.'s Q4 FY21 results were operationally in-line as Ebitda grew 24% YoY to Rs 17.2 billion (our estimate Rs 17.7 billion) with margins at 10.1% (up 90 basis point YoY, our estimate 10.7%) led by continued healthy performance in key global businesses.

Samvardhana Motherson Automotive Systems Group BV’s healthy order book at €15.6 billion (with €4.5 billion new orders won in H2 FY21) will drive healthy revenues over FY22-24.

Sound working capital management and controlled capex led consolidated net debt to decline by Rs 48 billion in FY21 (versus Rs 69 billion in FY20).

Click on the attachment to read the full report:

Prabhudas Lilladher Motherson Sumi Q4FY21 Result Update.pdf

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