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Producer Manufacturing

Motherson Sumi Systems Ltd.

  • 118.50 INR
  • +1.05
  • +0.89%
  • India
    Jul 16, 2019
  • Ticker
    BOM(517334)
  • Prev. close
    117.45
  • Market cap (INR)
    370,877.93M
  • Market cap (USD)
    5,397.63M
  • Shares
    3,157.75M

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. It operates through the following business segments: Motherson Sumi Systems Limited Standalone (MSSL Standalone), Samvardhana Motherson Reflectec Group Holdings Limited (SMR), Samvardhana Motherson Automotive Systems Group B.V. (SMP), and Others. The MSSL Standalone segment manufactures and trades automobile parts for commercial and passenger vehicles. The SMR segment relates to the development, manufacture, and supply of rear view mirrors and drive assistance systems. The SMP segment supplies plastic parts and system modules for vehicle interiors and exteriors. The Others segment comprises of other subsidiaries of the Company excluding SMR and SMP that are below the thresholds for separate reporting as operating segments. The company was founded by Swarn Lata Sehgal on December 19, 1986 and is headquartered in Noida, India.

Financial Highlights

Mar 2019 INRUSD
Revenue635,228.80M9,082.13M
Gross Profit105,569.20M1,509.36M
Operating income32,901.60M470.40M
Income before tax30,871.90M441.38M
Net income16,131.60M230.64M
EBITDA53,483.70M764.67M
Diluted EPS5.110.07
Dividends Per Share----
Total Assets433,301.80M6,254.80M
Total liabilities286,921.10M4,141.76M
Total equity109,627.40M1,582.49M
Operating cash flow----
Currency in INRCurrency in USD

Historical Data

 Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019
Revenue 345,349M 370,467M 423,430M 562,650M 635,228.80M
Gross Profit 42,453M 50,442M 58,456M 71,281M 105,569.20M
Operating income 19,235M 24,694M 30,914M 35,394M 32,901.60M
Income before tax 18,133M 21,552M 30,827M 32,671M 30,871.90M
Net income 8,625M 12,923M 15,543M 15,970M 16,131.60M
EBITDA 28,438M 34,770M 41,478M 51,060M 53,483.70M
Diluted EPS 2.89 4.34 5.05 5.06 5.11
Dividends Per Share 0.88 1.11 1.33 1.50 --
Total Assets 175,975M 199,040M 323,697M 374,977M 433,301.80M
Total liabilities 132,595M 139,500M 217,420M 244,602M 286,921.10M
Total equity 33,031M 43,971M 82,727M 98,841M 109,627.40M
Operating cash flow 31,119M 19,655M 35,738M 29,659M --
 Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019
Revenue 5,648.17M 5,658.50M 6,314.47M 8,727.84M 9,082.13M
Gross Profit 694.31M 770.44M 871.73M 1,105.71M 1,509.36M
Operating income 314.58M 377.17M 461.01M 549.03M 470.40M
Income before tax 296.56M 329.18M 459.71M 506.79M 441.38M
Net income 141.06M 197.38M 231.78M 247.72M 230.64M
EBITDA 465.10M 531.07M 618.54M 792.04M 764.67M
Diluted EPS 0.04 0.06 0.07 0.07 0.07
Dividends Per Share 0.01 0.01 0.01 0.02 --
Total Assets 2,811.94M 3,005.62M 4,984.93M 5,749.26M 6,254.80M
Total liabilities 2,118.76M 2,106.53M 3,348.27M 3,750.31M 4,141.76M
Total equity 527.80M 663.98M 1,273.99M 1,515.46M 1,582.49M
Operating cash flow 508.95M 300.21M 532.94M 460.07M --

Valuation Measures

Mar 2019
PER29.20
ROA3.99%
ROE15.47%
Operating margin5.17%
Profit margin2.53%

Key executives

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

Shareholders

  • Samvardhana Motherson International Ltd. (33.4%)
  • Sumitomo Electric Industries Ltd. (25.3%)
  • ICICI Prudential Asset Management Co. Ltd. (3.9%)
  • SEHGAL VIVEK CHAAND (2.3%)
  • SBI Funds Management Pvt Ltd. (1.5%)
  • Capital Research & Management Co. (World Investors) (1.1%)
  • Reliance Nippon Life Asset Management Ltd. (Invt Mgmt) (1.1%)
  • The Vanguard Group, Inc. (1.0%)
  • SHETTY REETHA (0.9%)
  • Axis Asset Management Co. Ltd. (0.9%)

Contact Details

Related Companies

  • SAMVARDHANA MOTHERSON INVEST DEUTSCHLAND GmbH
  • Motherson Rolling Stock Systems GB Ltd.
  • SMR Automotive Servicios Mexico SA de CV
  • Mssl Estonia Wh Ou
  • SMR Automotive Vision System Operations USA, Inc.
  • SMR Automotive Mirror International USA, Inc.
  • SMR Automotive Vision Systems Mexico S.A. de C.V.
  • SMR Mirrors UK Ltd.
  • Samvardhana Motherson Peguform Barcelona SLU
  • MSSL Advanced Polymers sro
  • MSSL Tooling FZE
  • MSSL GmbH
  • SMR Grundbesitz GmbH & Co. KG
  • Motherson Auto Solutions Ltd.
  • SMR Automotive System (Thailand) Ltd.
  • SMR Automotive Mirror Technology Holding Hungary Bt
  • SMR Automotive Brasil Ltda.
  • SMR Automotive Mirror Systems Holding Deutschland GmbH
  • SMR Patents SARL
  • SMR Automotive Mirror Technology Holding Hungary Kft
  • SMR Automotive Beteiligungen Deutschland GmbH
  • SMR Automotive Mirrors Stuttgart GmbH
  • SMR Automotive Beijing Co. Ltd.
  • SMR Automotive Yancheng Co. Ltd.
  • SMR Automotive Systems India Ltd.
  • MSSL Japan Ltd.
  • SMR Poong Jeong Automotive Mirrors Korea Ltd.
  • SMR Hyosang Automotive Ltd.
  • Samvardhana Motherson Reflectec Group Holdings Ltd.
  • SMR Automotive Holding Hong Kong Ltd.

Competitors

  • Magna International Inc.
  • Plastic Omnium SA
  • Commercial Vehicle Group, Inc.
  • Burelle S.A.
Last Updated on 16 Jul, 2019

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