Motherson Sumi reported highest ever annual revenue in FY2019.
27 May 2019 | 6017 Views | By Autocar Pro News Desk
Motherson Sumi, one of the world’s leading specialised automotive component manufacturer, has reported its financial revenues for FY2019. The company reported its highest ever revenue of Rs 62,572 crore in FY2019, a 12 percent growth YoY, and PAT at Rs 1,613 crore, which was largely flat.
Although the profit remained ...
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Motherson Sumi, one of the world’s leading specialised automotive component manufacturer, has reported its financial revenues for FY2019. The company reported its highest ever revenue of Rs 62,572 crore in FY2019, a 12 percent growth YoY, and PAT at Rs 1,613 crore, which was largely flat.
Although the profit remained flat in FY2019, in its last quarter (Q4 FY2019), Motherson Sumi reported a revenue of Rs 16,921 crore up 11 percent YoY, PAT at Rs 410 crore, down 21 percent YoY. According to the Tier 1 company, in FY2019, it witnessed a 13 percent YoY growth in revenue generated from international markets while in Q4, it's international business grew 14 percent.
Vivek Chaand Sehgal, chairman, MSSL said, “We are very grateful to our customers for their continued trust which helped us in closing the year on an all-time high revenue for MSSL. We have achieved strong order book of over Rs. 1.47 lakh crore, which brings us great opportunities to further serve our customers globally. It’s heartening to see that we have generated higher net free cash in an uncertain market condition despite ramp up of new large plants at Tuscaloosa and Kecskemet. We are committed to create long term value for our all stakeholders.”
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