Motherson Sumi shares recover from 52-week low. What should investors do after Q3 results?

Motherson Sumi Systems

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Motherson Sumi Systems share price recovered nearly 5 percent from its 52-week low of Rs 166.55 touched early today after the company declared its December quarter earnings last week.

Motherson Sumi Systems on February 11 reported a 69.3 percent year-on-year decline in consolidated net profit to Rs 245.1 crore, which was above analysts' expectations of Rs 191 crore.

The auto ancillary company reported a 5.7 percent on-year decline in consolidated total revenue from operations to Rs 16,117.5 crore, which was above the Street estimate of Rs 14,794 crore.

Motherson Sumi's debt profit, however, deteriorated in the reported quarter as net debt-to-operating profit ratio rose to 1.4 from 1.3 in the previous quarter.

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Here is what brokerages have to say about the stock and the company post December quarter earnings:

CLSA

CLSA has kept 'outperform' rating with a target at Rs 203 per share on strong FY23 demand outlook.

The robust profit recovery led by strong global passenger vehicle demand, while near-term supply and inflation challenges remain.

CLSA expects continued recovery in FY23.

Citi

The research firm has kept the 'sell' call on the stock with a target at Rs 174 per share.

SMRPBV was in line with estimates, but domestic business and PKC disappoint. The demerger of domestic wire harness business has been executed in January.

The research house awaits more details on impact of the demerger of MSWIL.

Nomura

Brokerage firm has kept the 'buy' call with a target at Rs 202 per share as the Q3 was in line.

There is a near-term concern on chip shortages, while rising content and higher EV mix are key catalysts.

At 13:25pm, Motherson Sumi Systems was quoting at Rs 173.50, up Rs 1.80, or 1.05 percent on the BSE.

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