Strong Quarterly numbers by Motherson Sumi Wiring India Limited (MSWIL), Revenues of Rs. 1671 crores, up by 50%, PAT is Rs. 126 crores, up by 107% for Q1FY23
Noida,UttarPradesh–06thAugust 2022–Motherson Sumi Wiring India Limited (MSWIL)today announcedits financialresultsforthefiscal2022-23firstquarter,whichendedon30thJune2022.
Performance Highlights (Year on year basis)
• Quarterly revenues of Rs. 1,671 crores, up by 50%
• Quarterly EBITDA of Rs 208 crores, up by 81%
• Quarterly PAT of Rs 126 crores, up by 107%
During the quarter, the company has realigned its operations at Bengaluru and Chennai to cater toincreased customer requirements.Further the company is adding a new facility in Chennai to support the growth in the region.
Additionally, a dedicated line has been setupat Chennai for high voltage harnesses to meet the supplies for customers EV vehicledemand (Passenger Vehicles, Commercial Vehicles& Two-Wheelers). This augments the high voltage wire harness facilities already existing in Pune.
Commentingontheresults,Mr.VivekChaandSehgal,Chairman,Motherson Sumi Wiring India Ltd. said,
“The Indian automotive industry continued to face semi-conductor shortages and supply chain constrains during the quarter, thereby impacting ability to achieve full production volumes to meet the strong market demand. We do see gradual improvement going forward as supply chain issues ease though inflationary environment persists. Under these given circumstances, the company has performed well. We would like to thank our customers for their continued trust and our teams for their relentless efforts.”