Auto ancillary company has reported the company’s 5.7 percent decrease in total revenue consolidated from operations, which was 16,117.5 crore that was higher than Street’s estimate of 14,794 crore.
Motherson Sumi Systems share price has risen by nearly 5 percent since the 52-week low of 166.55 it was traded early this morning after the company announced its December quarter results last week.
Motherson Sumi Systems on February 11 announced an 69.3 percent decline year-on-year in its net profit consolidated to the tune of Rs 245.1 crore. This was more than analyst expectations of 191 crore.
Auto ancillary company announced an 5.7 percent decline over the year in its total revenue from operations, which was 16,117.5 crore that was higher than the estimates of the Street of 14,794 crore.
Motherson Sumi’s debt profits decreased, however, in the reporting quarter as the ratio of operating profits to debt increased by 1.4 instead of 1.3 in the prior quarter.
The net debt of the company in the period was 7,255 crore, compared to 4,807 crore in March quarter of 2020-21.
CLSA expects to see continued growth in FY23.
The research firm has stayed with the “sell” call on the stock and set an aim of the price of Rs. 174 for each share.
SMRPBV was within estimates, however domestic business and PKC do not meet expectations. The demerger of the domestic wire harness businesses was completed in January.
The research house is waiting for more information on the impact of the demerger MSWIL.
Brokerage firm has stayed with the “buy” call, with a goal of the price of Rs. 202. the Q3 results were close to.
There’s a concern in the near term about chip shortages, and increasing content and a an increase in EV mix are major factors.
At 13:25 pm, Motherson Sumi Systems was quoted at 173.50 which was up by Rs 1.80 equivalent to 1.05 percentage on BSE.
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Source: Money Control