Motherson Sumi Systems Q4 and FY 2013-14 results
Motherson Sumi Systems Limited (MSSL) has reported consolidated revenues of US $ 5 billions for the year 2013-14, a full year ahead of target for Vision 2015. Consolidated sales are up by 20%, PBT by 84%, and PAT by 72% for the full FY 2013-14.
MSSL consolidated sales are up by 26%, PBT by 51% and PAT by 55% for Q4 FY 13-14. the company reports highest ever earnings for the quarter and for the year, both on consolidated and standalone basis.
Capital expenditure of Rs 1,352 crore was incurred during FY13-14. Net reduction in debt stands at Rs 376 crores despite weakening rupee. Declared dividend of Rs 2.50 per share on enhanced capital on account of bonus issue was announced. New orders from customers worth Euro 2.44 Billion for SMP and worth Euro 1.56 Billion for SMR in current financial year is reported.
Commenting on company’s performance, Mr. V.C. Sehgal, Chairman, Motherson Sumi Systems Limited said, “We have achieved the consolidated revenues of USD 5 Bn as stated in our Vision 2015. We are working very hard to meet the other parameters which we have set for ourselves in our Vision 2015. We have improved our ROCE from 18% in 2012-13 to 26 % in FY 13-14. Thanks to our esteemed customers for their continuous trust in our abilities. It’s a testimony to the great efforts by the employees that despite one of toughest year for the automobile industry, we were able to outperform the market. We are looking ahead positively and very much sure that we will keep on delivering the promised made to our all stakeholder.”