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Motherson Sumi: Offers significant upside

Demand led to an improvement in top line but cost inflation impacted operating profitability.

May 30, 2022 / 09:37 AM IST
Motherson Sumi: Offers significant upside

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PRO Only Highlights
Quarterly performance largely backed by improved realisations
Medium-term triggers China plus and protectionist measures for tyre industry
Valuations not inexpensive; but improved medium-term outlook

Highlights - Q4FY22 impacted by chip shortage, soaring raw material prices - Domestic business outlook encouraging for the long term - Outlook for international businesses promising - Strong focus on EVs to act as growth catalyst - Valuation suggests upside ————————————————————————— The Q4FY22 financial performances of Motherson Sumi Systems (CMP: Rs 123; M Cap: Rs 55,610 crore) and Motherson Sumi Wiring India Ltd (MSWIL; CMP: 64.2; MCap: Rs 20,084 crore) were a mixed bag. Demand led to an improvement in top line but cost inflation impacted...

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