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Motherson Sumi Systems Ltd posts Strong Quarterly Revenues
Posted on: 09/Aug/2018 11:33:51 AM
Motherson Sumi Systems Limited (MSSL) today announced financial results for its fiscal 2018-2019first quarter, which ended on 30th June 2018.
The company posted quarterly consolidated revenues of INR 16,106Cr. and consolidated EBITDA# of INR 1,539Cr. These results compare to revenues of INR 12,967Cr. and EBITDA# of INR 1,240Cr in the same quarter in the previous year. Standalone revenue stood at INR 2,037 Cr and EBITDA is at INR 352 Cr compare to revenues of INR 1,668 Cr. and EBITDA of INR 312Cr in the same quarter in the previous year.
“The stupendous efforts being put in by the teams in all the divisions have resulted in another set of excellent consolidated results. A lot of hard work has been put in setting up of the new greenfield plants and we are pleased to inform that our largest plant in Tuscaloosa (USA) was inaugurated on 26th April 2018. With this a large part of organic growth capex is completed. We are also pleased to announce that the acquisition of Reydel automotive is completed on 2nd of Aug 2018 and take this opportunity to welcome the Reydel team into the Motherson family. This acquisition brings more opportunities to us and we will continue to explore new areas in which we can bring value to our customers.”said Mr. Vivek Chaand Sehgal, Chairman MSSL.
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