Bengaluru, 13^th August 2024  – Samvardhana Motherson International Limited (SAMIL) today announced its financial results for the fiscal year 2024-25, which ended on 30^th June 2024.

Commenting on the results, Mr Vivek Chaand Sehgal, Chairman, Motherson said,

 “The company has delivered robust quarterly performance despite flat industry volumes. All announced acquisitions have been successfully integrated and have started to contribute positively; their full potential will be realised in the coming months. Financial prudence helped keep the Leverage ratio to 1.5x. We continue to invest in our auto and non-auto businesses; while 2 of our facilities have commenced production, 17 of our Greenfields across emerging markets for auto and non-auto businesses are at different stages of completion. We remain thankful to our customers for their support and to our global teams for their relentless efforts.”

 Key Highlights

• Strong revenue growth amidst muted industry volume growth and evolving platform mix; all announced M&As closed.
• Improved profitability due to scale benefits and margin accretive M&As.
• Multiple ratings upgrade :
  • Moody’s upgrades to BAA3 / Stable
  • Fitch issue rating to BBB-
  • CRISIL to AAA / Stable
  • Japanese Credit Rating (JCR) assigned as A / Stable
• Greenfield investments are on track. Two facilities have commenced production (from the earlier announced 18 facilities), and one new Greenfield is in Mexico. Capex for the quarter is Rs 1,078 crores.
• Leverage ratio maintained at comfortable levels (1.5x) despite increased Net debt primarily due to M&A closures.
• Diversified business model to further strengthen with scale-up of non-auto businesses
• Issued first dual investment grade bonds of USD 350 Mn in July in a Debt Neutral Transaction

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Mr. Vivek Chaand Sehgal, Chairman, Motherson Sumi Wiring India Ltd., said,

“The company has demonstrated a good performance. Our unwavering commitment to maintaining customers’ trust has been the driving force behind our success. It is through our relentless dedication to pushing the boundaries and delivering exceptional value to our stakeholders that we have been able to consistently deliver such performance. The company remains committed to understanding and staying aligned with industry trends and proactively adapting to the dynamic environment.”

Key Highlights

• Strong Revenue growth YoY is mainly supported by increased volumes and content on account of automotive megatrends.
• Performance remained resilient despite the transitory impact of higher raw material prices and start-up costs mitigated with operational efficiencies.
• Of the two green fields, one plant commenced operations in July 24 and is in the ramp-up phase. The second plant is expected to come on stream by Q1FY26.
• MSWIL is part of India’s top-selling passenger vehicles (EV and ICE) and EV 2W models. The EV revenue grew by 50% year over year.
• Consistent focus on financial prudence; maintaining Debt-Free Status

Financial Performance

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Mumbai (India), 20^th October 2023: Samvardhana Motherson International Limited (Motherson) announced a series of acquisitions to strengthen its non-automotive businesses further. These acquisitions are spread across the aerospace, health and medical businesses of the company and provide impetus for future growth.

The aerospace division of Motherson is building its capabilities in a phased and strategic manner, enabling it to offer a much wider range of services to aerospace OEMs. Motherson has completed four acquisitions in the Aerospace business segment, from AD Industries, Cirma, and SMAST in 2023 to CIM Tools in 2022. Each of these acquisitions brings a unique set of capabilities. AD Industries manufactures a wide range of components and sub-assemblies and has diverse capabilities across four key divisions (sheet metal, hydraulics, mechanical assemblies, and composites). Its ability to work with hard metals, soft metals, and composites simultaneously positions it uniquely in the aerospace ecosystem. CIM tools bring world-class machining and metal treatment capabilities (detailed parts for aerostructures), while Cirma and SMAST provide wiring harness solutions (EWIS) and advance system solutions. The suite of strategically acquired and organically developed competencies complement each other with limited overlap, which will help it offer a much wider range of services to aerospace OEMs globally.  With 8 facilities in France, the group gets a strategic footprint in the heart of the European aerospace industry and together with 9 facilities in best-cost locations across India and Africa, the division is fully equipped to provide high-quality solutions to the aerospace supply chain. The division will also benefit from an impending increase in build rates. With booked business of US$ 1.3 bn+, the division has strong support from its customers, and the necessary competence to cater to the increased demand of the aerospace sector.

The health and medical business division is leveraging the capabilities of Motherson with a focus on diagnostic equipment, patient aid equipment, IT solutions and services. The greenfield plant in Chennai (India) is near SOP and certification audits are underway. The recent acquisitions of AD Industry and Irillic Private Limited are the first two for this division. AD Industry brings valuable capabilities in reinforced carbon composites, which are essential elements for radiology products like patient tables, X-ray detector housing, and more. This capability is highly scalable and can be utilised to cater to emerging applications prosthetics, orthopaedic equipment etc in addition to other applications in radiology. Irillic has strong capabilities in R&D and engineering, having secured two patents in India and the USA. Irillic has developed imaging systems (Fluorescence Imaging and 4K Laparoscopy) that provide real-time visualisations for a wide range of medical procedures. The division intends to continue developing solutions in-house, via acquisitions as well as through collaborations with universities, hospital systems, and research centres. With the manufacturing expertise of SAMIL, these recent acquisitions will propel significant growth for the division.

About SAMIL (Formerly Motherson Sumi Systems Limited.) and SMRPBV

Samvardhana Motherson International Limited (SAMIL) is a diversified global manufacturing specialist and one of the world’s largest and fastest-growing automotive suppliers for OEMs. Motherson supports its customers from more than 350 facilities across 41 countries, with a team of over 180,000 dedicated professionals. The company recorded revenues of USD 12.7 Bn for FY23 and is among the top 25 largest automotive suppliers worldwide.

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