Motherson Sumi Q4 Review - Strong Performance In Samvardhana Motherson Peguform, India: Motilal Oswal

A worker holds a wire harness at the Motherson Sumi Systems Ltd. wiring harness plant in Faridabad, India. (Photographer: Brent Lewin/Bloomberg)

Motherson Sumi Q4 Review - Strong Performance In Samvardhana Motherson Peguform, India: 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 Q4 FY21 performance was a beat led by strong performance in India and Samvardhana Motherson Peguform, as well as lower tax.

The company would continue to benefit from a cyclical recovery in its key businesses as well as from a strong order book and improving efficiencies in Samvardhana Motherson Automotive Systems Group BV.

The company declared a dividend of Rs 1.5/share for FY21 (same as FY20).

We upgrade our FY22E/FY23E earnings per share by 16%/20%, factoring in a strong recovery in SMP, India, and PKC Group Plc., as well as a lower tax rate.

Click on the attachment to read the full report:

Motilal Oswal Motherson Sumi Q4FY21 Result Update.pdf

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