Motilal Oswal: Motherson Sumi Q2 Review - Global Operations Surprise Positively; India Misses Estimate
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Motilal Oswal Report
Motherson Sumi Systems Ltd.’s Q2 FY21 operating performance was driven by strong demand recovery and improved efficiencies.
Samvardhana Motherson Peguform’s greenfield plants achieved Ebitda breakeven.
The company is well-positioned to benefit from demand recovery as well as efficiency improvement at the greenfield plants.
We upgrade our FY22E earning per share by 7%, factoring in stronger recovery in Samvardhana Motherson Automotive Systems Group BV and PKC Group Plc.
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