Motherson Sumi Systems drops 10.38 per cent despite strong Q1FY17

Motherson Sumi Systems(MSSL) has declared its Q1FY17 results on Wednesday. The company’s revenue has increased by 16 per cent to Rs 10352 crore in Q1FY17 on a yearly basis. Its EBITDA too has risen by 20 per cent to Rs 928 crore in Q1FY17 as compared to same period in previous financial year. MSSL’s EBITDA margin has expanded by 31 basis points to 8.96 per cent in Q1FY17 on a yearly basis. The company’s net profit also has increased by 13 basis points to Rs 303 crore in Q1FY17 as compared to same period in previous fiscal. However, its net profit margin has contracted by 6 basis points to 2.93 per cent in Q1FY17 on a yearly basis.

MSSL continues to commission new plants globally across all its product verticals. In total, 14 plants are at different stages of completion out of which 4 are the new plants added after Q3FY16.

The share price of MSSL has decreased by 10.38 per cent on bourses after declaration of Q1FY17 results; and is trading at Rs 334.1 on an intraday basis.

MSSL is one of the world’s fastest growing specialised automotive component manufacturing company for OEMs. The company is a focused, dynamic and progressive company providing customers with innovative and value-added products, services and solutions. It has a presence in 25 countries across 6 continents.