On standalone basis
Quarter ended September 2024 compared with Quarter ended September 2023.
Net sales (including other operating income) of Motherson Sumi Wiring India has increased 10.26% to Rs 2,325.64 crore. Operating profit margin has declined from 11.98% to 10.73%, leading to 1.26% decline in operating profit to Rs 249.55 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 66.37% to 65.14%. Employee cost increased from 16.14% to 17.16%. Other expenses rose from 5.63% to 7.03%. Other income up 379.80% to Rs 4.75 crore. PBIDT rose 0.23% to Rs 254.3 crore. Provision for interest fell 2.45% to Rs 7.18 crore. Loan funds declined from Rs 282.63 crore as of 30 September 2023 to Rs 281.97 crore as of 30 September 2024. Inventories rose to Rs 1,306.29 crore as of 30 September 2024 from Rs 1,149.79 crore as of 30 September 2023. Sundry debtors were higher at Rs 1,078.72 crore as of 30 September 2024 compared to Rs 911.16 crore as of 30 September 2023. Cash and bank balance rose to Rs 52.65 crore as of 30 September 2024 from Rs 16.43 crore as of 30 September 2023. PBDT rose 0.31% to Rs 247.12 crore. Provision for depreciation rose 22.15% to Rs 44.4 crore. Fixed assets increased to Rs 692.63 crore as of 30 September 2024 from Rs 603.67 crore as of 30 September 2023. Profit before tax down 3.47% to Rs 202.72 crore. Provision for tax was expense of Rs 50.64 crore, compared to Rs 54.13 crore. Effective tax rate was 24.98% compared to 25.77%. Profit after tax fell 2.44% to Rs 152.08 crore. Equity capital stood at Rs 442.11 crore as of 30 September 2024 to Rs 442.11 crore as of 30 September 2023. Per share face Value remained same at Rs 1.00. Promoters’ stake was 61.73% as of 30 September 2024 ,compared to 61.73% as of 30 September 2023 .
For year-to-date (YTD) results analysis
Net sales (including other operating income) of Motherson Sumi Wiring India has increased 13.30% to Rs 4,510.48 crore. Operating profit margin has declined from 11.55% to 10.83%, leading to 6.19% rise in operating profit to Rs 488.33 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 65.71% to 65.18%. Employee cost increased from 16.82% to 17.15%. Other expenses rose from 5.93% to 6.88%. Other income up 553.02% to Rs 9.73 crore. PBIDT rose 7.95% to Rs 498.06 crore. Provision for interest fell 16.11% to Rs 12.65 crore. Loan funds declined from Rs 282.63 crore as of 30 September 2023 to Rs 281.97 crore as of 30 September 2024. Inventories rose to Rs 1,306.29 crore as of 30 September 2024 from Rs 1,149.79 crore as of 30 September 2023. Sundry debtors were higher at Rs 1,078.72 crore as of 30 September 2024 compared to Rs 911.16 crore as of 30 September 2023. Cash and bank balance rose to Rs 52.65 crore as of 30 September 2024 from Rs 16.43 crore as of 30 September 2023. PBDT rose 8.77% to Rs 485.41 crore. Provision for depreciation rose 20.15% to Rs 84.33 crore. Fixed assets increased to Rs 692.63 crore as of 30 September 2024 from Rs 603.67 crore as of 30 September 2023. Profit before tax grew 6.64% to Rs 401.08 crore. Provision for tax was expense of Rs 100.13 crore, compared to Rs 97.09 crore. Effective tax rate was 24.97% compared to 25.81%.Profit after tax rose 7.86% to Rs 300.95 crore. Equity capital stood at Rs 442.11 crore as of 30 September 2024 to Rs 442.11 crore as of 30 September 2023. Per share face Value remained same at Rs 1.00. Promoters’ stake was 61.73% as of 30 September 2024 ,compared to 61.73% as of 30 September 2023 .
Full year results analysis
Net sales (including other operating income) of Motherson Sumi Wiring India has increased 17.83% to Rs 8,328.25 crore. Operating profit margin has jumped from 11.21% to 12.17%, leading to 27.93% rise in operating profit to Rs 1,013.20 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 65.86% to 65.51%. Employee cost decreased from 16.58% to 16.26%. Other expenses fell from 6.46% to 6.07%. Other income fell 40.96% to Rs 6.89 crore. PBIDT rose 26.93% to Rs 1020.09 crore. Provision for interest fell 1.87% to Rs 27.3 crore. Loan funds declined from Rs 372.61 crore as of 31 March 2023 to Rs 259.08 crore as of 31 March 2024. Inventories declined from Rs 1,209.58 crore as of 31 March 2023 to Rs 1,139.85 crore as of 31 March 2024. Sundry debtors were higher at Rs 895.91 crore as of 31 March 2024 compared to Rs 800.41 crore as of 31 March 2023. Cash and bank balance rose to Rs 268.26 crore as of 31 March 2024 from Rs 36.78 crore as of 31 March 2023. PBDT rose 27.96% to Rs 992.79 crore. Provision for depreciation rose 19.08% to Rs 147.25 crore. Fixed assets increased to Rs 623.45 crore as of 31 March 2024 from Rs 606.23 crore as of 31 March 2023. Profit before tax grew 29.64% to Rs 845.54 crore. Provision for tax was expense of Rs 207.24 crore, compared to Rs 165.17 crore. Effective tax rate was 24.51% compared to 25.32%. Profit after tax rose 31.06% to Rs 638.30 crore. Equity capital stood at Rs 442.11 crore as of 30 September 2024 to Rs 442.11 crore as of 30 September 2023. Per share face Value remained same at Rs 1.00. Promoters’ stake was 61.73% as of 31 March 2024 ,compared to 61.73% as of 31 March 2023 . Cash flow from operating activities increased to Rs 791.14 crore for year ended March 2024 from Rs 223.58 crore for year ended March 2023. Cash flow used in acquiring fixed assets during the year ended March 2024 stood at Rs 111.29 crore, compared to Rs 198.58 crore during the year ended March 2023. Other Highlights
The company is expanding its capacities to
execute new customer orders with two Greenfields. Additional costs is being
incurred during the ramp-up phase.
Management Comments :
Mr. Vivek Chaand Sehgal, Chairman,
Motherson Sumi Wiring India, said, "The company has made significant
progress this quarter, showcasing a solid performance. With the invaluable
support of our customers and the dedication of our team, we have surpassed
industry growth. We are committed to our expansion plans that prioritize our
customers` needs, while actively exploring new opportunities within the
evolving automotive landscape across all powertrains. As we move forward, we will
continue to enhance our operational efficiencies and further develop our
manufacturing expertise, ensuring sustainable growth and innovation."
| Motherson Sumi Wiring India : Standalone Results | | Quarter ended | Year to Date | Year ended |
|---|
| Particulars | 202409 | 202309 | Var.(%) | 202409 | 202309 | Var.(%) | 202403 | 202303 | Var.(%) |
|---|
| Net Sales (including other operating income) | 2,325.64 | 2,109.22 | 10.26 | 4,510.48 | 3,981.06 | 13.30 | 8,328.25 | 7,067.99 | 17.83 | | OPM (%) | 10.73 | 11.98 | -125 bps | 10.83 | 11.55 | -73 bps | 12.17 | 11.21 | 96 bps | | OP | 249.55 | 252.73 | -1.26 | 488.33 | 459.88 | 6.19 | 1,013.20 | 792.02 | 27.93 | | Other Inc. | 4.75 | 0.99 | 379.80 | 9.73 | 1.49 | 553.02 | 6.89 | 11.67 | -40.96 | | PBIDT | 254.30 | 253.72 | 0.23 | 498.06 | 461.37 | 7.95 | 1,020.09 | 803.69 | 26.93 | | Interest | 7.18 | 7.36 | -2.45 | 12.65 | 15.08 | -16.11 | 27.3 | 27.82 | -1.87 | | PBDT | 247.12 | 246.36 | 0.31 | 485.41 | 446.29 | 8.77 | 992.79 | 775.87 | 27.96 | | Depreciation | 44.4 | 36.35 | 22.15 | 84.33 | 70.19 | 20.15 | 147.25 | 123.66 | 19.08 | | PBT | 202.72 | 210.01 | -3.47 | 401.08 | 376.1 | 6.64 | 845.54 | 652.21 | 29.64 | | PBT before EO | 202.72 | 210.01 | -3.47 | 401.08 | 376.1 | 6.64 | 845.54 | 652.21 | 29.64 | | EO Income | 0 | 0 | - | 0 | 0 | - | 0 | 0 | - | | PBT after EO | 202.72 | 210.01 | -3.47 | 401.08 | 376.1 | 6.64 | 845.54 | 652.21 | 29.64 | | Taxation | 50.64 | 54.13 | -6.45 | 100.13 | 97.09 | 3.13 | 207.24 | 165.17 | 25.47 | | PAT | 152.08 | 155.88 | -2.44 | 300.95 | 279.01 | 7.86 | 638.3 | 487.04 | 31.06 | | P/(L) from discontinued operations net of tax | 0 | 0 | - | 0 | 0 | - | 0 | 0 | - | | Net profit after discontinued operations | 152.08 | 155.88 | -2.44 | 300.95 | 279.01 | 7.86 | 638.3 | 487.04 | 31.06 | | EPS (Rs)* | 0.34 | 0.35 | -2.44 | 0.68 | 0.63 | 7.86 | 1.44 | 1.10 | 31.06 | | | * EPS is on current equity of Rs 442.11 crore, Face value of Rs 1, Excluding extraordinary items. | | # EPS is not annualised | | bps : Basis points | | EO : Extraordinary items | | Figures in Rs crore | | Source: Capitaline Corporate Database |
|
|