Motherson Sumi
The company’s takeover in 2011 of Peguform Group, which for a couple of years gave some pain, is now fully integrated and is finally bearing rich fruits. In Q1FY14, the company posted a total consolidated revenue of Rs.7013 crore, up 12% (YoY). Of this, 51% came from Samvardhana Motherson Peguform (SMP), which is the new entity post Peguform acquisition. YoY, the contribution of SMP has risen 9%. EBITDA came in at Rs.619 crore, up 44% and EBIDTA margins have risen from 6.8% to 8.8%. EBITDA from SMO has gone up 42%. Net profit has risen by a jaw dropping 812% (YoY) at Rs.73 crore but QoQ, there has been a 63% decline. In terms of segment breakup, consolidated revenue from its automotive segment was up 11% but that from non automotive segment fell 9%.
The company’s debt remains an issue. As at 30th June 2013, gross debt was at Rs.4913 crore and cash balance was at Rs.669 crore, giving a net debt of Rs.4244 crore. This is 1.5% lower than net debt in Q4Fy13. Interest outgo for the quarter was at Rs.73 crore, up 15%. Way back in 2010, the company had given a guidance that by 2014-15 it will be a US$ 5 billion plus company.