Vivek Chaand Sehgal, chairman, Motherson Sumi Systems Ltd says the company is open to acquisitions, and would look into it if they are worthwhile and add to the interest of the company, shareholders and customers. The Volkswagen Group contributes to 47 percent of the company‘s sales.
Even though the car sales have gone down dramatically, it will not affect Motherson Sumi as the company is constantly adding new products, assures chairman Vivek Chaand Sehgal
Pankaj Mital, COO, Motherson Sumi Group, feels the company's performance has been resilient in a volatile market, and has outperformed the industry. Talking to CNBC TV18, he stated that despite the slowdown, the company continued to bag large orders, recently from European carmakers too.
Vivek Chaand Sehgal, Chairman, Motherson Sumi, spoke to CNBC-TV18 regarding their business strategies, expectations in the next financial year and why even though the auto sales is declining the company is still upgraded by Barclays.
The Maruti plant in Manesar saw unprecedented violence in the month of July. But despite this Motherson Sumi posted a growth of 23 percent in standalone sales.
Motherson Sumi has recently acquired Peguform and Visiocorp and Vivek Chaand Sehgal, Vice Chairman of the company said, the acquisitions have reaped good returns so far.