Read more about Motherson Sumi surges 11%, hits 52-week high on strong performance in Q4 on Business Standard. The production shutdowns (India) and semi-conductor shortages globally likely to be headwinds for OEM production in the near term, the company said
Shares of Motherson Sumi Systems hit a fresh 52-week high of Rs 221, up 12 per cent in the intra-day trade, on the BSE on Monday after the company reported its highest-ever quarterly revenue of Rs 17,923 crore, up by 15 per cent over the previous year quarter, in Q3FY21. The stock has surged 23 per cent in the past two trading days. Thus far in the month of February, the stock of the auto ancillary company has rallied 53 per cent, as compared to a 12.5 per cent surge in the S&P BSE Sensex. In Q3FY21, Motherson Sumi Systems consolidated profit after tax (PAT) more-than-doubled to Rs 798 crore from Rs 271 crore in the corresponding quarter of previous fiscal. Earnings before interest, taxes, depreciation, and amortization (Ebitda), meanwhile, grew 56 per cent year on year (YoY) at Rs 2,041, while margins improved 300 basis points (bps) to 11.4 per cent during the quarter.
Read more about Motherson Sumi hits 52-week high on highest-ever quarterly revenue in Q3 on Business Standard. With the rollout of Covid-19 vaccine in different parts of the world, the management is optimistic that the demand and positive sentiments will improve in the upcoming quarters