Samvardhana Motherson International Accelerates Growth with Impressive Q2 FY24 Results
Leading automotive component Manufacturer reports a 28% YoY revenue surge, reaching Rs 23,474 crore. Robust order book, strategic acquisitions, and commitment to expansion underscore resilience in a challenging market
Noida,India- Samvardhana Motherson International Ltd, an automotive part manufacturer reported a robust performance in Q2 FY24, with revenues reaching Rs 23,474 crore, marking a 28% YoY growth. The company's EBITDA grew by 34% to Rs 2,001 crore, and the profit-after-tax (PAT) saw a substantial 39% increase, reaching Rs 451 crore in the last quarter. The company disclosed an order book exceeding US$ 77 billion (Rs 64,130 crore) by the end of September 2023, compared to US$ 69.1 billion (Rs 57,550 crore) at the end of March 2023. Notably, more than 22% of this order book is attributed to parts for electric vehicles.
Mr.Vivek Chaand Sehgal, Chairman, Motherson,said that, This performance is a testament to our team's dedication and hard work on the back of customer support in navigating uncertain business environments. We are cautious yet confident in our ability to adapt and navigate through these challenges. The integration of acquired entities is at its initial phase and moving in the right direction towards unlocking its full value in the coming times. The booked business of over US$ 77 billion reflects the strong relationship and mutual trust we share with our customers.
