Even after providing Rs.25 crore for exceptional expenses, Motherson Sumi, for Q1FY16, posted a consolidated net profit of Rs.266 crore, up 62% (YoY). Exceptional expense was towards issue of bonds by SMRP BV and the enhancement of revolving credit facilities. Total sales showed a 12% rise at Rs.9252 crore. EBITDA showed a 14% rise at Rs.841 crore and margins grew from 8.9% to 9.1%. Samvardhana Motherson Automotive System Group BV (SMRPBV), in Euro terms, showed a 25% rise in revenue and PAT rose by a whopping 225%. During the quarter, automotive business grew by 10.5% to Rs 9,088 crore and non-automotive business reported a 83% growth at Rs.289 crore.

Consolidated debt of the company increased to Rs.3,794 crore at the end of June quarter from Rs.3,239 crore in March quarter, up 17%. Six new plants / expansions have been initiated to take care of the requirements of customers and 14 other plants are at various stages of completion. The market had expected the company to post much better numbers and thus the stock price tanked yesterday despite the performance being good.