Samvardhana Motherson International Ltd

₹ 75.4 1.96%
05 Dec 4:01 p.m.
About

Motherson Sumi Systems is engaged primarily in the manufacturer and sale of components to automotive original equipment manufacturers.[1]

Key Points

India’s largest Ancilliary company[1] The MSSL group is amongst the world's largest manufacturers of exterior rear-view mirrors with a dominant market share, and is a leading global player in polymer-based interior and exterior modules. Moreover, the group is also the largest manufacturer of wiring harnesses for passenger vehicles in India.

  • Market Cap 51,128 Cr.
  • Current Price 75.4
  • High / Low 139 / 61.8
  • Stock P/E 63.0
  • Book Value 30.6
  • Dividend Yield 0.59 %
  • ROCE 8.09 %
  • ROE 5.44 %
  • Face Value 1.00

Pros

  • Company has been maintaining a healthy dividend payout of 39.9%

Cons

  • The company has delivered a poor sales growth of 8.44% over past five years.
  • Company has a low return on equity of 7.92% over last 3 years.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022
15,260 15,000 14,434 8,348 14,957 17,092 16,972 16,157 14,076 16,118 17,185 17,615 18,261
14,052 13,883 13,201 8,969 13,565 15,297 15,250 14,937 13,133 15,050 15,985 16,538 16,864
Operating Profit 1,208 1,117 1,233 -621 1,392 1,796 1,722 1,220 944 1,067 1,200 1,077 1,396
OPM % 8% 7% 9% -7% 9% 10% 10% 8% 7% 7% 7% 6% 8%
184 177 116 47 109 237 255 253 237 275 94 99 -4
Interest 124 178 137 110 127 138 136 121 131 129 161 169 184
Depreciation 639 679 779 699 735 735 757 751 737 733 736 732 749
Profit before tax 629 437 433 -1,383 640 1,159 1,084 601 312 479 396 274 460
Tax % 27% 22% 69% 14% 26% -9% 6% 26% 27% 21% 67% 34% 37%
Net Profit 458 340 136 -1,192 474 1,268 1,019 446 227 378 130 182 288
EPS in Rs 0.81 0.57 0.39 -1.71 0.71 1.69 1.51 0.61 0.46 0.52 0.18 0.21 0.36
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 TTM
8,238 14,767 25,298 30,414 34,661 37,216 42,376 56,303 63,523 60,729 57,370 63,536 69,178
7,471 13,954 23,819 28,017 31,817 33,668 38,204 51,174 58,174 56,075 53,000 59,060 64,438
Operating Profit 767 813 1,480 2,397 2,844 3,548 4,171 5,128 5,348 4,654 4,370 4,476 4,740
OPM % 9% 6% 6% 8% 8% 10% 10% 9% 8% 8% 8% 7% 7%
169 144 318 311 212 177 346 125 333 642 568 813 463
Interest 58 165 250 294 318 345 375 411 423 593 512 543 644
Depreciation 246 380 714 817 921 1,087 1,059 1,575 2,058 2,721 2,926 2,958 2,951
Profit before tax 631 412 834 1,596 1,817 2,293 3,083 3,267 3,200 1,983 1,500 1,788 1,609
Tax % 30% 52% 46% 31% 29% 23% 30% 31% 34% 35% -5% 34%
Net Profit 443 196 452 1,097 1,292 1,774 2,172 2,260 2,098 1,294 1,569 1,182 978
EPS in Rs 0.89 0.59 1.00 1.71 1.93 2.89 3.28 3.37 3.41 2.47 2.19 1.29 1.27
Dividend Payout % 27% 34% 26% 29% 31% 26% 18% 30% 29% 40% 46% 34%
Compounded Sales Growth
10 Years: 16%
5 Years: 8%
3 Years: 0%
TTM: 8%
Compounded Profit Growth
10 Years: 17%
5 Years: -10%
3 Years: -18%
TTM: -57%
Stock Price CAGR
10 Years: 13%
5 Years: -11%
3 Years: 1%
1 Year: -37%
Return on Equity
10 Years: 15%
5 Years: 11%
3 Years: 8%
Last Year: 5%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Sep 2022
39 39 59 88 88 132 140 210 316 316 316 452 452
Reserves 1,570 1,832 2,230 2,871 3,236 4,265 8,132 9,674 10,647 10,945 12,245 20,136 20,248
1,261 4,602 4,904 4,840 5,131 6,069 10,349 10,374 11,534 13,136 11,930 14,130 14,098
2,243 5,492 5,546 7,445 8,971 9,199 13,322 16,716 20,257 20,636 23,258 21,008 22,415
Total Liabilities 5,113 11,966 12,739 15,244 17,425 19,665 31,944 36,974 42,754 45,033 47,749 55,726 57,212
1,764 4,692 5,277 5,919 6,129 7,147 12,193 14,712 18,423 20,750 20,099 21,411 21,416
CWIP 392 446 386 647 956 1,397 1,935 2,585 1,067 852 877 1,310 1,058
Investments 46 94 72 75 65 590 474 792 855 796 846 6,462 6,361
2,910 6,734 7,005 8,603 10,276 10,531 17,343 18,885 22,409 22,635 25,926 26,543 28,378
Total Assets 5,113 11,966 12,739 15,244 17,425 19,665 31,944 36,974 42,754 45,033 47,749 55,726 57,212

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
410 589 1,486 2,695 3,390 2,188 3,800 3,264 4,312 6,352 5,051 2,463
-805 -1,874 -1,089 -1,372 -2,844 -1,906 -6,145 -3,194 -3,318 -2,220 -1,886 -2,304
401 1,380 -256 -1,080 494 -263 5,518 -2,221 -225 -2,803 -2,098 -1,217
Net Cash Flow 6 95 142 243 1,040 19 3,172 -2,152 769 1,329 1,068 -1,059

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
Debtor Days 42 74 42 39 32 46 40 36 35 31 36 38
Inventory Days 74 86 58 62 63 37 44 43 46 54 56 64
Days Payable 79 118 70 77 82 84 103 96 106 108 125 113
Cash Conversion Cycle 37 42 30 24 13 -1 -20 -17 -24 -23 -33 -11
Working Capital Days 20 21 9 1 -1 4 4 6 2 -7 -9 -0
ROCE % 28% 12% 16% 25% 28% 28% 24% 20% 17% 11% 9% 8%

Shareholding Pattern

Numbers in percentages

7 recently
Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022
61.73 61.73 61.73 61.73 61.73 61.73 61.73 61.73 61.73 68.16 68.16 68.16
16.38 15.50 15.64 15.99 16.09 16.64 16.86 16.40 16.43 9.81 9.49 8.76
12.58 13.55 13.35 13.62 14.26 13.42 13.02 13.64 13.87 10.51 10.50 10.48
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.06
9.32 9.22 9.28 8.67 7.92 8.21 8.39 8.24 7.98 11.53 11.86 12.53

* The XBRL reporting format changed from Sep'2022 onwards. The new format added details about banks and foreign portfolio investors. These were not available earlier.
The sudden increase in FII or DII might be because of these changes.

Please click on the line-items to see the names of individual entities.

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