Motherson Sumi Q4 results: Consolidated PAT zooms 289% to Rs 714 cr; board okays Rs 1.5 dividend

MUMBAI: Systems reported a 289 per cent year-on-year rise in its consolidated net profit to Rs 713.6 crore for the quarter ended March, which was sharply higher than analysts’ estimates.

The company’s consolidated total revenue from operations jumped 17.6 per cent on-year to Rs 16,971.9 crore, which was slightly higher than analysts’ estimates.

The company’s board also approved a final dividend worth Rs 1.5 per share for the financial year ended March, 2021.

The growth in the topline of the company was led by Samvardhana Motherson Peguform and the wiring harness business.

Revenues of the standalone entity rose 28 per cent on-year to Rs 1,269 crore during the quarter. The automotive interior and exterior business under Samvardhana Motherson Peguform saw its revenues rise 16 per cent on-year to Rs 8,746.7 crore.

Similarly, the wiring harnessing business under PKC saw its revenues in the reported quarter jump 30 per cent on a year-on-year basis to Rs 2,753.82 crore.

Motherson Sumi’s operating performance in the quarter was firm despite higher input costs, which jumped 26 per cent on-year.

The company reported a consolidated operating profit of Rs 1,722 crore, which was 38.7 per cent higher than the year-ago quarter. Operating margin in the quarter expanded 150 basis points on-year to 10.1 per cent.

At 1:20 p.m. IST, shares of Motherson Sumi were up 5 per cent at Rs 248.7 on the National Stock Exchange.