Motherson Sumi has posted robust Q4 results, beating estimates
Chirag Gothi / 17 May 2016
Motherson Sumi Systems has surged by 10 per cent on the BSE in intra-trade after posting a consolidated net profit that has jumped by 21.65 per cent on account of overall performance by all business divisions. It has reported at Rs 413.72 crore for the quarter ended March 31, 2016 as against Rs 340.10 crore in the corresponding quarter of the previous year.
Motherson Sumi Systems has surged by 10 per cent on the BSE in intra-trade after posting a consolidated net profit that has jumped by 21.65 per cent on account of overall performance by all business divisions. It has reported at Rs 413.72 crore for the quarter ended March 31, 2016 as against Rs 340.10 crore in the corresponding quarter of the previous year.
The company’s consolidated revenue has grown marginally by 8 per cent at Rs 10,235 crore in Q4FY16 due to healthy growth in Indian and global businesses. For the first time in the company's history, it has achieved revenues of more than Rs 10,000 crore in a quarter. Its consolidated operating profit (EBITDA) has grown by 14 per cent at Rs 1,060 crore backed by strong continued improvement in SMR. The company’s operating profit margin also has expanded by 47 bps for the current quarter, i.e. at 10.36 per cent.
For the entire period of FY16, it has reported consolidated net profit growth of 48 per cent at Rs 1,274 crore; while its revenue has grown by 10 per cent at Rs 38,677 crore. Its consolidated operating profit (EBITDA) has grown by 16.65 per cent at Rs 3,736 crore along with operating profit margin expanding by 52 bps for the current year at 9.66 per cent.
On return ratio front, the company has posted consolidated ROCE at 27 per cent; Standalone level at 43 per cent, which was at its all time high; whereas SMR has been posted at 42 per cent; and has achieved more than 40 per cent ROCE for the first time.
Samvardhana Motherson Automotive System Group BV (SMRP BV) has total order book of Rs 100,000 crore as on March 31, 2016. New orders worth approximately Rs 66,000 crore have been acquired during the year at SMRP BV (including Rs 46,000 crores approx. orders declared earlier during the year).
“It has been a good year to further enhance our performance. We are seeing huge capacity expansion at Samvardhana Motherson Peguform (SMP) at the request of customers. Operational improvements have been put in place and we have an exciting innovation pipeline, across MSSL companies," said Vivek Chaand Sehgal, MSSL’s chairman.
Currently stock is trading up by Rs 19.65 or 7.33 per cent at Rs 287.7 per share.
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