Mumbai – 26th May 2022 – Motherson Sumi Wiring India Limited (MSWIL) today announced its financial results for the fiscal 2021-22 fourth quarter, which ended on 31st March 2022.
· Quarterly revenues of Rs. 1,662 crores, up by 14% on QoQ
· The board has recommended dividend of Rs. 0.85 per share for the FY21-22
The Indian automotive market demand remained strong though global shortages, logistics and geopolitical issues had its impact in production numbers.
Despite the supply challenges of input child parts from global suppliers the team has continued to focus on operational efficiency and cost management to achieve commendable results.
Commenting on the results, Mr. Vivek Chaand Sehgal, Chairman, Motherson Sumi Wiring India Ltd. said, “We have kept our promise of bifurcating MSSL into two separate listed companies, one being domestic wiring harness business in India, to meet the demand /expectations of our shareholders/other stakeholders; completed in a period of 18 months. This has entailed significant management time and costs which are fully accounted for in the results.
It’s a very proud moment for us as we bring MSWIL’s quarterly results for the very first time as a separate public listed company. These results are reflection of strength of our wiring harness business in India. MSWIL has carved its position as one of the most trusted partners for its customers. It has and will continue to invest in people, technology, and facilities ahead of time to remain aligned with future needs and continue its efforts to remain the preferred partner of our customers.”
Motherson Sumi Wiring India Limited (MSWIL)
Motherson Sumi Wiring India Limited (MSWIL) is a leading and fast-growing full-system solutions provider to OEMs, in the wiring harness segment in India. Motherson Sumi Wiring India is a joint venture between Samvardhana Motherson International Limited (SAMIL)[Formerly Motherson Sumi Systems Limited] and Sumitomo Wiring Systems, Ltd. (SWS). MSWIL is headquartered in Noida and has 23 facilities spread across India. The company is prepared to meet the customer needs at every stage of the supply chain, from initial product design and validation to tool design and manufacturing, finishing, and processing, assembly, and finally production of integrated cutting-edge Electrical & Electronic Distribution Systems for the power supply or data transfer across vehicles. Motherson Sumi Wiring India Limited has a product profile that benefits from favourable industry trends of premiumization, which leads to an increase in automobile electrification, and supports current and future automotive trends. (CIN - L29306MH2020PLC341326)
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