Motherson Sumi surges 11%, hits 52-week high on strong performance in Q4
Shares of Motherson Sumi Systems (MSSL) progressed higher by 11 per cent, touching a fresh 52-week high of Rs 264.40, on the BSE in Wednesday’s intra-day deals after the country’s largest auto ancillary company posted a strong performance for the quarter ended March 2021 (Q4FY21).
The company’s consolidated profit after tax (PAT) grew 290 per cent to Rs 714 crore in Q4FY21 helped by a strong operational performance. It had posted a PAT of Rs 183 crore in Q4FY20. Consolidated revenue, meanwhile, rose 19 per cent year on year (YoY) to Rs 17,844 crore as compared to Rs 15,001 crore in a year ago quarter and EBITDA (earnings before interest, taxes, depreciation, and amortization) margin expanded by 190 basis points (bps) to 11.2 per cent from 9.3 per cent in a previous year quarter.
MSSL said the consolidated revenues in Q4FY21 were more than pre-Covid levels as industrial activity has picked up globally. “Despite multiple headwinds such as chip shortage, higher commodity costs etc. the company sustained profitability. The production shutdowns (India) and semi-conductor shortages globally likely to be headwinds for OEM production in the near term,” the Motherson Sumi Systems said.