Samvardhana Motherson International’s EV order book is at $ 17 billion.
The company says its automotive business order book swelled to over US$ 77 billion (Rs 64,130 crore) by end-September 2023, from being pegged at US$ 69.1 billion (Rs 57,550 crore) by end-March 2023.
Vivek Chaand Sehgal, Chairman, Motherson said, “The booked business of over $ 77 billion reflects the strong relationship and mutual trust we share with our customers.”
The Noida-based Tier 1 auto component major, yesterday reported revenues of Rs 23,474 crore in Q2 FY24, registering a 28 percent year-on-year growth. Its EBITDA, at Rs 2,001 crore, registered a 34 percent growth, while profit-after-tax (PAT) grew 39 percent to reach Rs 451 crore in the last quarter.
Samvardhana Motherson International commenced setting up of 10 new facilities in India to support its customer’s growth in both the automotive- and non-automotive businesses, while it closed four acquisitions – SAS, Saddles, Rollon, and Ichikoh during Q2 FY24.