Auto components major, Samvardhana Motherson International Ltd (SAMIL), on Wednesday reported more than double growth in its consolidated net profit to ₹1,444 crore for the fourth quarter ended March 31, compared with ₹699 crore in the corresponding period last year.
Consolidated total revenue from operations also grew by 20 per cent year-on-year (y-o-y) to ₹27,058.22 crore (₹22,517 crore) during the January-March period.
For the full year ended on March 31, the company reported a net profit of ₹3,020 crore (₹1,670 crore), a jump of around 81 per cent . Total revenue from operations also rose to ₹98,692 crore (₹78,788 crore) in the last financial year.
“We have maintained a healthy financial position by keeping leverage and debt under control. Our automotive booked business of over $83.9 billion provides strong revenue visibility. We also foresee good traction from our non-automotive businesses, such as aerospace, consumer electronics and health and medical,” Vivek Chaand Sehgal, Chairman, Motherson said.
Fundraising
Majority of growth capex is in emerging markets and 18 greenfields are on track to come on stream in FY25 and FY26, he said. “To fully utilise our manufacturing capabilities, we are setting up new facilities across emerging markets,” Sehgal added.
Meanwhile, the board of the company has approved for raising of funds, for an aggregate principal amount of up ₹5,000 crore, on a private placement basis, in one or more series/ tranches through private placement of redeemable non convertible debentures (NCDs) of face value of ₹1 lakh each.
The board also approved a dividend of 80 paise per share of face value of ₹1 each for the financial year ended on March 31.
Shares of the company closed at ₹147.60 apiece on the BSE on Wednesday, up 3.98 per cent from the previous close.