Mumbai, 30th May 2024:  Samvardhana Motherson International Limited (SAMIL) today announced its financial results for the fiscal year 2023-24, which ended on 31^st March 2024.

Commenting on the results, Mr. Vivek Chaand Sehgal, Chairman, Motherson said, “We are encouraged by the company’s performance, which results from the efforts of business divisions and acquired entities. We have also maintained a healthy financial position by keeping leverage and debt under control. Our automotive booked business of over USD 83.9 bn provides strong revenue visibility. We also foresee good traction from our non-automotive businesses, such as aerospace, consumer electronics, and health and medical. To fully utilise our manufacturing capabilities, we are setting up new facilities across emerging markets. We are grateful to our customers for their trust and confidence in Motherson and want to express our sincere appreciation to our people globally for their dedication and hard work.”

Key Highlights 

• Leverage ratio maintained at 1.4x (same as FY23) despite large M&A payouts and growth capex.
• Strong customer relationships reflected in USD 83.9 Bn automotive booked business (excluding Yachiyo)
• Delivered ROCE of 17% for FY24, compared to 11% in FY23; continued focus on further improvements.
• Majority of Growth Capex is in emerging markets, 18 Greenfields are on track to come on stream in FY25 & FY26.
• Visible results of Inventory/working capital optimisation – continue to be a key focus area.
• All announced M&As closed as of May 2024, with integration well on track.
• Positive rating action from
• Moody’s: Ba1 corporate family rating (CFR). Outlook revised to “Rating under review for upgrade” from “Stable” (SAMIL & SMRP B.V).
• Fitch: Senior secured bonds upgraded to BBB- / Investment grade (SMRP B.V).

Samvardhana Motherson International Limited (SAMIL) [Formerly Motherson Sumi Systems Ltd.]

Samvardhana Motherson International Limited (SAMIL) is one of the world’s leading specialised automotive component manufacturing companies for OEMs. The company, formerly known as Motherson Sumi Systems Limited, was established in 1986 as a joint venture with Sumitomo Wiring Systems and was listed in 1993 on BSE and NSE in India. The company is focused, dynamic, and progressive, providing customers with innovative and value-added products, services, and solutions. With a diverse global customer base of nearly all leading automobile manufacturers globally, the company supports its customers from more than 400 facilities across 44 countries in five continents. The company has diversified to support customers in non-automotive businesses, including technology and industrial solutions, health & medical, aerospace and logistics. SAMIL is currently the largest auto ancillary in India and is ranked among the top 25 automotive suppliers worldwide. For more details, please visit www.motherson.com  (CIN – L35106MH1986PLC284510).