SAMIL, a leading global automotive components manufacturer, announced its financial results for the fiscal year 2023-24 (FY24), ending on March 31, 2024. The company reported strong growth in revenues and profitability, driven by robust demand for its products and services, successful integration of acquired entities, and a focus on operational efficiency.
Key Highlights:
Revenue: ₹98,692 crores, up 25% YoY.
Return on Capital Employed (ROCE): 17% (compared to 11% in FY23).
Leverage Ratio: Maintained at 1.4x (same as FY23), despite significant investments in mergers and acquisitions (M&A) and growth capex.
Strong Customer Relationships: Reflected in USD 83.9 billion of automotive booked business (excluding Yachiyo).
Growth Capex: Primarily focused on emerging markets, with 18 new greenfield projects expected to commence operations in FY25 and FY26.
Inventory and Working Capital Optimization: Showed visible results, remaining a key focus area for the company.
Integration of Acquired Entities: All announced M&A deals have been successfully closed as of May 2024, with integration progressing well.
Management Commentary:
Mr. Vivek Chaand Sehgal, Chairman of Motherson, expressed satisfaction with the company's performance and attributed it to the collective efforts of the business divisions and acquired entities. He emphasized the company's commitment to maintaining a healthy financial position and pursuing growth opportunities in emerging markets.
Additional Resources:
SAMIL Press Release on Q4FY24 results: https://www.motherson.com/storage/financial-results/2023-24/Q4/SAMIL-Press-Release-on-Q4FY24-results.pdf
SAMIL Presentation on results Q4FY24: https://www.motherson.com/storage/financial-results/2023-24/Q4/SAMIL-Presentation-on-results-Q4FY24.pdf
ICICI Direct Analysis: https://www.icicidirect.com/research/equity/rapid-results/samvardhana-motherson-international-ltd
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