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The auto component manufacturer's profit was expected at Rs 265 crore on revenue of Rs 8,679 crore for the quarter, according to a CNBC-TV18 poll.
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Around 75 percent of Motherson's loans are in euros. Sehgal said the quantum of euro-denominated loans was around 750-800 million
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Vivek Chand Sehgal, chairman, Motherson Sumi Group, says a smaller deal is on the anvil.
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The company has new orders to the tune of 1.3 billion euros by Samvardhana Motherson Peguform (SMP) and Samvardhana Motherson Reflectec (SMR), said Vivek Chand Sehgal of Motherson Sumi.
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Vivek Chaand Sehgal says there is no reason to be unduly concerned about the rupee versus the euro scenario considering that most of Motherson Sumi's manufacturing takes place in EU. At the most, there can be a minor translation loss, but that's about it
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The auto ancillary company looks to set up 14 new plants in India, US and Mexico, out of which, production at 3 new plants will begin by September, says Vivek Chaand Sehgal, Chairman, Motherson Sumi Systems.
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Sehgal said the company has a strong order book both domestic and international and geographies of USA, Europe, and Asia have performed well for them.
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Auto component maker Motherson Sumi is positive on performances from the standalone and the other two arms. Its management tells CNBC-TV18 that the focus would lie on increasing the ROCE going forward.
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VC Sehgal, chairman, Motherson Sumi says, in an interview to CNBC-TV18, that the order book is healthy while the levels of consolidated debt reduced considerably during the quarter.
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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.
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Vivek Chaand Sehgal, chairman, Motherson Sumi says the company has added lot of capacities. Even if the stock is down, people should go deeper into the company's numbers and they will find that the performance is phenomenal.
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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
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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.
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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.
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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.
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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.
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As Motherson Sumi's biggest customer Maruti is coming out of trouble, Vice Chairman Vivek Chaand Sehgal said that the company will deliver 40% return on capital employed (ROCE) as promised. Morover, he indicated that the car sales in Europe were not impacted by the prevailing uncertainties.
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Many companies in India are struggling due to the economic slowdown around the world, mainly in European nations. However, Motherson Sumi Systems is not one of them.
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Motherson Sumi Systems earlier last week acquired 80% stake in Peguform Group. The company said it will fund the deal through overseas loans and has appointed ICICI Bank as the lead arranger. But this, Vivek Chaand Sehgal, chairman of the Motherson Sumi Group says won't impact the margins.
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Speaking to CNBC-TV18, VC Sehgal, vice-chairman of Motherson Sumi, says that the sales for the company is ‘up phenomenally’ on a year-on-year basis for Q4. The company also has 11 major plants coming up this year, he says.
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Pankaj Mital COO of Motherson Sumi says that the company's merger with SMIEL, a subsidiary of Sumitomo Wiring Systems and a joint venture with Sehgal family, will help in localizing the Sumitomo brand.
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At present, there has been no reported impact of the production of components in the auto ancillary space because of the earthquake and tsunami in Japan. Vivek Chaand Sehgal, Chairman, Motherson Sumi Group in an interview on CNBC-TV18 says most auto ancillary companies have not faced any production shortage.
