Samvardhana Motherson reports in Q1 results of FY24

The company reported Revenues at INR 22,462 Cr which is a 27% increase YoY. The EBITDA stood at 1,940 Cr with a margin of 8.6%. Profits after Tax were INR 601 Cr.

Noida- Samvardhana Motherson International Limited (SAMIL)., [formerly Motherson Sumi Systems Ltd.] today announced its financial results for the first quarter of the fiscal year 2023-24, which ended on 30th June 2023.

The company reported Revenues at INR 22,462 Cr which is a 27% increase YoY. The EBITDA stood at 1,940 Cr with a margin of 8.6%. Profits after Tax were INR 601 Cr.  The company’s EV’s revenue has increased over Rs 1,600 crores in Q1FY24 where FY23 EV revenue was ~Rs 4,900 crores.

Commenting on the results, Mr. Vivek Chaand Sehgal, Chairman, Motherson said, “We have delivered another quarter of strong performance. The automotive industry is stabilising with new cost structures and Motherson continues to adapt to the evolving landscape. We are working in close collaboration with our customers, and to better serve them in these challenging times we have closed 7 acquisitions with their support. We aim to bring innovative solutions, to streamline and solve operational issues. These acquisitions will further increase our value added content and will provide new growth opportunities for Motherson. We are grateful to our customers for their trust and support.

Motherson extends a warm welcome to over 8,500 employees of the new companies into our family. We believe that these are very exciting times for Motherson.”