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Producer Manufacturing

Motherson Sumi Systems Ltd.

Company Background

Leading auto parts manufacturer Motherson Sumi Systems produces wiring harnesses, rearview mirrors, plastic components and modules for the automotive industry. Established in 1986 as a joint venture between India's Samvardhana Motherson Group and Sumitomo Wiring Systems (Japan), Motherson Sumi does business in 25 countries and has manufacturing bases across six continents.

The Sehgal family and its Samvardhana Motherson International company together hold a roughly 40% stake, while Sumitomo Wiring Systems hold about 26%. Motherson Sumi aims to become a one-stop provider for multiple customer needs. It acquired the global rearview mirror business of U.K-based Visiocorp in 2009 and that of Germany's Peguform, a manufacturer of bumper systems and plastic components, in 2011. In January 2015 it completed the acquisition of assets of Scherer & Trier, another German company, through a subsidiary at a cost of over $40 million. S&T makes parts for Audi, BMW, Daimler, Ford, General Motors, Volkswagen and others.

The company's name reflects how it got its start: Motherson Group was founded by its current Chairman V.C. Sehgal with his mother in 1975. In India, Motherson Sumi controls more than 65% of the market for passenger car wiring harnesses. It accounts for 22% of the global market for passenger car rearview mirrors and 53% of the Indian market.

Business Summary

Motherson Sumi Systems Ltd. is a holding company, which engages in the manufacture and sale of wire harnesses, components, and wires to automotive original equipment manufacturers. The company was founded by Swarn Lata Sehgal on December 19, 1986 and is headquartered in Noida, India.

Financial Highlights

Mar 2020 INRUSD
Revenue634,685M8,951.07M
Gross Profit69,387M978.57M
Operating income25,161M354.85M
Income before tax20,554M289.87M
Net income11,701M165.02M
EBITDA52,804M744.70M
Diluted EPS3.700.05
Dividends Per Share----
Total Assets454,958M6,013.88M
Total liabilities304,266M4,021.95M
Total equity112,609M1,488.52M
Operating cash flow58,805M829.33M
Currency in INRCurrency in USD

Historical Data

 Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020
Revenue 370,467M 423,430M 562,650M 634,905M 634,685M
Gross Profit 50,442M 58,456M 71,281M 77,956M 69,387M
Operating income 24,694M 30,914M 35,394M 32,693M 25,161M
Income before tax 21,552M 30,827M 32,671M 30,872M 20,554M
Net income 12,923M 15,543M 15,970M 16,131M 11,701M
EBITDA 34,770M 41,478M 51,060M 53,210M 52,804M
Diluted EPS 4.34 5.05 5.06 5.10 3.70
Dividends Per Share 1.11 1.33 1.49 1.50 --
Total Assets 199,040M 323,697M 374,977M 433,302M 454,958M
Total liabilities 139,500M 217,420M 244,602M 286,922M 304,266M
Total equity 43,971M 82,727M 98,841M 109,627M 112,609M
Operating cash flow 19,655M 35,738M 29,659M 39,728M 58,805M
 Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020
Revenue 5,658.50M 6,314.47M 8,727.84M 9,077.50M 8,951.07M
Gross Profit 770.44M 871.73M 1,105.71M 1,114.56M 978.57M
Operating income 377.17M 461.01M 549.03M 467.42M 354.85M
Income before tax 329.18M 459.71M 506.79M 441.38M 289.87M
Net income 197.38M 231.78M 247.72M 230.63M 165.02M
EBITDA 531.07M 618.54M 792.04M 760.76M 744.70M
Diluted EPS 0.06 0.07 0.07 0.07 0.05
Dividends Per Share 0.01 0.01 0.02 0.02 --
Total Assets 3,005.62M 4,984.93M 5,749.26M 6,254.81M 6,013.88M
Total liabilities 2,106.53M 3,348.27M 3,750.31M 4,141.78M 4,021.95M
Total equity 663.98M 1,273.99M 1,515.46M 1,582.49M 1,488.52M
Operating cash flow 300.21M 532.94M 460.07M 568.00M 829.33M

Valuation Measures

Mar 2020
PER16.47
ROA2.63%
ROE10.53%
Operating margin3.96%
Profit margin1.84%

Key executives

  • Chief Operating Officer & Executive Director: Pankaj Kumar Mital
  • Chief Financial Officer: Gaya Nand Gauba
  • Secretary & Compliance Officer: Alok Goel
  • Head-Strategy & M&A: Kunal Malani

Shareholders

  • Samvardhana Motherson International Ltd. (33.4%)
  • Sumitomo Electric Industries Ltd. (25.3%)
  • ICICI Prudential Asset Management Co. Ltd. (4.3%)
  • Axis Asset Management Co. Ltd. (2.6%)
  • SEHGAL VIVEK CHAAND (2.3%)
  • Hermes Investment Management Ltd. (1.9%)
  • UTI Asset Management Co. Ltd. (Investment Management) (1.1%)
  • SBI Funds Management Pvt Ltd. (1.1%)
  • The Vanguard Group, Inc. (1.0%)
  • Nippon Life India Asset Management Ltd. (Invt Mgmt) (1.0%)

Contact Details

Related Companies

  • MSSL Automobile Component Ltd.
  • Motherson Polymers Compounding Solutions Ltd.
  • Motherson Sumi Systems Ltd. /DWH Undertaking/
  • SMRC Automotive Interiors Spain SL
  • Samvardhana Motherson Polymers Ltd.
  • Motherson Auto Solutions Ltd.
  • SMR Automotive Mirror Technology Holding Hungary Bt
  • MSSL (GB) Ltd.
  • MSSL (S) Pte Ltd.
  • MSSL Mauritius Holdings Ltd.
  • Motherson Electrical Wires Lanka Pvt. Ltd.
  • SMR Automotive Services GmbH
  • Balda Motherson Solution India Ltd.
  • Visiocorp Automotive Valencia SA
  • MSSL Mideast FZE
  • Motherson Automotive Technologies & Engineering Ltd.
  • Stoneridge, Inc. /Wiring Harness Business/
  • Motherson Elastomers Ltd.
  • ASL Systems Ltd.
  • Empire Rubber
  • G+S Kunststofftechnik GmbH
  • Motherson Auto Ltd.

Competitors

  • Magna International Inc.
  • Commercial Vehicle Group, Inc.
  • Burelle S.A.
  • Gentex Corporation
Last Updated on 18 Sep, 2020

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