Motherson Sumi Systems Ltd. (MSSL) posted record consolidated revenue of Rs. 9,322 crores and quarterly profit after taxes of Rs. 340 crores for the fourth quarter ended March 31, 2015.
For the year ended March 31, 2015, the consolidated revenue was Rs. 34,490 crores and consolidated yearly profit after taxes was Rs. 862 crores, or Rs. 9.78 per share. These results are comparable to revenues of Rs. 30,358 crores and profit after taxes of Rs. 765 crores, or Rs. 8.67 per share, in the previous year.
International sales accounted for almost 85 per cent of the year’s revenue. In the second half of 2014-2015, the company’s subsidiary SMRPBV received new orders for life time value of EURO 630 million. This brings the total value of orders received during 2014-2015 to EURO 1.924 billion. These are in addition to the Daimler orders of EURO 2.2 billion received and announced in April.
MSSL also announced completion of its fourth 5-year plan, for which it set key targets in 2010 to guide its 2015 working results.
Mr. Vivek Chaand Sehgal, MSSL Chairman, said: “We are very happy with the way we have performed against our 5-year targets, thanks to the continued support of our customers, employees and other stakeholders. We are very grateful for the trust they have reposed in us in our current business as well as in a number of acquisitions which have strengthened our company. Our consolidated ROCE came out at 26%, with capital expenditure for new facilities and acquisitions, which always have to mature. Our ROCE stands at an impressive 36% if we exclude businesses acquired after 2010-11. For the first time our ROCE exceeded 40% for standalone business.”
The ambitious new 5-year plan envisions MSSL becoming an $18 billion company. It has also announced its new 5-year plan, for which it has set high targets for its 2020 performance.