For the June quarter, Samvardhana Motherson’s revenue grew by 17% from last year to ₹35,243 crore. The figure was higher than the CNBC-TV18 poll of ₹33,777 crore.
Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) for the quarter grew by 26% to ₹3,096 crore from ₹2,459 crore last year. The figure was in-line with the CNBC-TV18 poll estimate of ₹3,057 crore.
EBITDA margin for the quarter expanded by 80 basis points from last year to 8.8%. However, the figure was 30 basis points lower than the CNBC-TV18 poll estimate of 9.1%.
Samvardhana Motherson’s Wiring harness business saw revenue of ₹11,280 crore during the quarter, higher than the ₹864 crore it reported during the same quarter last year. The segment EBIT during the quarter stood at ₹1,253 crore.
The company’s Modules and Polymer Products business saw revenue of ₹16,694 crore from ₹15,008 crore last year, while the vision systems business grew to ₹5,654 crore from ₹5,137 crore last year.
Revenue for the integrated assemblies business stood at ₹2,949 crore from ₹2,818 crore, while the Emerging business revenue grew to ₹4,795 crore from ₹3,701 crore last year.
In its post-earnings release, Samvardhana Motherson stated that the slowdown in the Chinese markets weighed on the global light vehicles industry but South Asia remained a bright spot.
The company is anticipating the planned European OEM launches to support industry growth going forward, and also sees a favourable outlook for the North American CV market as the recovery there has managed to sustain.
Net debt at the end of the June quarter stood at ₹9,757 crore compared to ₹9,811 crore in March, and ₹11,228 crore during the same quarter last year.
Shares of Samvardhana Motherson are trading between gains and losses after the results announcement. Currently trading 1% higher at ₹155.79. The stock is up 28% so far this year.
