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.
Consolidated net profit jumped 2.4 times to Rs 249.6 crore, aided by forex gain and strong operational performance. Total income from operations grew 20 percent to Rs 7,988.7 crore compared to a year ago period.
The company‘s chairman Vivek Chaand Sehgal was speaking to CNBC-TV18 where he discussed the company‘s acquisitions and future direction.
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.
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.
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.
Ex-chairman and executive director of Samvardhana Motherson Finance (SMFL) Vivek Chaand Sehgal tells CNBC-TV18 that they will become a debt free company once the proceeds of the IPO flow in.
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.
Bhavin Shah of Equirus Securities talks to CNBC-TV18 regarding the recent overseas acquisitions and divestments of certain mid-cap companies and how it will bode for them.
Motherson Sumi Systems has bought Peguform Group for 141.5 million euro, reports CNBC-TV18. It touched an intraday high of Rs 240.50 and an intraday low of Rs 234.50. At 12:12 hrs the share was quoting at Rs 239.85, up Rs 2.40, or 1.01%.