 "Motherson Sumi aims for $18 bn revenues in 2020")
Buoyed by its performance in 2014-15, Motherson Sumi Systems Limited (MSSL), one of India’s leading auto component manufacturers, is aiming to achieve $ 18 billion revenues by 2020. Announcing its new 5-year plan, Motherson Sumi Systems said that it has set a revenue target of $ 18 billion by 2020 from the current $ 5.5 billion revenue which it reported in 2015.
“We are very excited to launch our fifth 5-year plan. It reflects our strong belief in our ability to deliver great value to the business of our customers, across our organization, across the world. We will pursue these targets through organic growth, as well as through customer-led acquisitions and the organic growth of these acquisitions within the Motherson family,” said Vivek Chaand Sehgal, chairman, Motherson Sumi Systems Ltd (MSSL).
In 2010, the company had announced similar ambitious revenue targets of $5 billion by 2015, which it over-achieved by about $500 million in 2015. Commenting on the achievement, Sehgal said, “We are very happy with the way we have performed against our 5-year targets, thanks to the continued support of our customers, employees and other stakeholders. We are very grateful for the trust they have reposed in us in our current business, as well as in a number of acquisitions which have strengthened our company.”
Meanwhile, Motherson Sumi Systems Limited (MSSL) has posted a consolidated revenues of Rs 9,322 crore in the fourth quarter of 2014-15, up 12.5% compared to Rs 8289 crore reported in the same quarter last year. Similarly, its consolidated profit after taxes (PAT) was up 12% to Rs 340 crore in Q4 of 2014-15 compared to Rs 303 crore in the year-ago quarter.
For fiscal year 2014-15, MSSL reported consolidated revenues of Rs 34,490 crore (compared to Rs 30,358 crore in 2013-14) and consolidated PAT of Rs 862 crore (compared to Rs 765 crore last year). International sales accounted for almost 85 percent of the year’s revenue.
“We are very excited to launch our fifth 5-year plan. It reflects our strong belief in our ability to deliver great value to the business of our customers, across our organization, across the world. We will pursue these targets through organic growth, as well as through customer-led acquisitions and the organic growth of these acquisitions within the Motherson family,” said Vivek Chaand Sehgal, chairman, Motherson Sumi Systems Ltd (MSSL).
In 2010, the company had announced similar ambitious revenue targets of $5 billion by 2015, which it over-achieved by about $500 million in 2015. Commenting on the achievement, Sehgal said, “We are very happy with the way we have performed against our 5-year targets, thanks to the continued support of our customers, employees and other stakeholders. We are very grateful for the trust they have reposed in us in our current business, as well as in a number of acquisitions which have strengthened our company.”
Meanwhile, Motherson Sumi Systems Limited (MSSL) has posted a consolidated revenues of Rs 9,322 crore in the fourth quarter of 2014-15, up 12.5% compared to Rs 8289 crore reported in the same quarter last year. Similarly, its consolidated profit after taxes (PAT) was up 12% to Rs 340 crore in Q4 of 2014-15 compared to Rs 303 crore in the year-ago quarter.
For fiscal year 2014-15, MSSL reported consolidated revenues of Rs 34,490 crore (compared to Rs 30,358 crore in 2013-14) and consolidated PAT of Rs 862 crore (compared to Rs 765 crore last year). International sales accounted for almost 85 percent of the year’s revenue.