Motherson Sumi Q3 2009-10 PAT at Rs. 77.88 crore

Motherson Sumi Systems, the flagship company of the Samvardhana Motherson Group reported a profit after tax of Rs. 77.88 crore for the third quarter ending 31st December this financial year. It is to be mentioned that the company had a PAT of Rs 25.39 crore during the corresponding period last fiscal. However, the results of the two corresponding fiscals are not comparable because of acquisition of UK-based VisioCorp's rear view mirror business in Europe March last year for 25 million euro. The company reported total sales of Rs 1,782.27 crore during the third quarter. It had sales of Rs 546.49 crore during the year-ago period.

 

"Our domestic wiring harness business registered a good growth on the back of revival in the auto industry. Besides, the European subsidiary Samvardhana Motherson Reflectec (SMR) has also turned profitable after we acquired it last year," Motherson Sumi Systems Chief Operating Officer Pankaj Mittal told PTI, adding that  the company has operationalised three new facilities for wiring harness during the past few months and one more would soon come on stream. He also mentioned, "The new plant at Chennai will be exclusively catering to the demand of Nissan's facility there. Besides, we have put on stream facilities at Pune, Noida and Kandla during this fiscal." 

 

It is to be mentioned that MSSL is is a joint venture between Samvardhana Motherson Group and Sumitomo Wiring Systems (Japan). MSSL is one of the largest manufacturers of Automotive Rearview Mirrors for passenger cars in the world together with being the largest manufacturer of automotive wiring harnesses in India. It also supplies plastic components and modules to the automotive industry. Other product range of MSSL comprises of rubber components for automotive and industrial applications, high precision machined metal parts, injection molding tools and HVAC Systems. The integration of diverse products and technologies leading to comprehensive solutions is a unique advantage, which makes the company a globally preferred solutions provider. MSSL has presence in 21 countries and has manufacturing bases in five continents across the globe to support its customers.