Motherson Sumi's Chairman Vivek Chaand Sehgal says the company both buys raw materials and sells the finished goods in euro and may not be affected by a weaker euro. He adds that Motherson Sumi may instead benefit when cars are exported out of Europe.
"Samvardhana Motherson Automotive Systems Group BV, Netherlands (SMRP BV), company‘s subsidiary and joint venture with Samvardhana Motherson International has signed an agreement for purchase of assets of Scherer & Trier group (S&T), Germany from its administrator through its step down subsidiaries," said the company in its filing.
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
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.
Ashish K Mishra reports how Motherson Sumi became giant auto parts manufacturer. From a non-descript business, Vivek Chand Sehgal has set up one of the top automotive parts companies in the world.
Entrepreneurship is all about breathing life into an idea; it‘s about making mistakes, learning from them and then walking right into. Yet another fall entrepreneurship is about madness, lots of common sense and passion to win.