Mumbai, 6th August 2024–MothersonSumiWiringIndiaLimited(MSWIL) today announced its financial results for the fiscal 2024-25first quarter, which ended on 30th June 2024.
Mr.VivekChaandSehgal,Chairman, MothersonSumiWiringIndiaLtd., said,
“The company has demonstrated good performance. Our unwavering commitment to maintaining customers’ trust has been the driving force behind our success. It is through our relentless dedication to pushing the boundaries and delivering exceptional value to our stakeholders that we have been able to consistently deliver such performance. The company remains committed to understanding and staying aligned with industry trends and proactively adapting to the dynamic environment.”
KeyHighlights
- Strong Revenue growth YoY is mainly supported by increased volumes and content on account of automotive megatrends.
- Performance remained resilient despite the transitory impact of higher raw material prices and start-up costs mitigated with operational efficiencies.
- Of the two green fields, one plant commenced operations on July 24 and is in the ramp-up phase. The second plant is expected to come on stream by Q1FY26.
- MSWIL is part of India’s top-selling passenger vehicles (EV and ICE) and EV 2W models. The EV revenue grew by 50% year over year.
- Consistent focus on financial prudence; maintaining Debt-Free Status
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