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Motherson Sumi Systems setting up new plant in Uttarakhand Print E-mail
Written by Vivek   
Monday, 01 November 2010
New Delhi: With consolidated domestic sales up by 60% in Q2 FY 10-11 over Q2 FY09-10, Motherson Sumi Systems Limited (MSSL) is setting up a new plant at Rudrapur, Uttarakhand to cater to Tata Motors' Pantnagar plant and other auto companies in the region. This plant is expected to start operations by FY 10-11 end.

"On account of excellent performance of our customers we too have been able to outperform the market with a domestic sales growth of 60%," said Vivek Chaand Sehgal, Chairman, Samvardhana Motherson Group.

"In continuation to the robust growth, this quarter has seen positive trends in the automotive industry with the Indian passenger vehicle market production registering 31% growth," he added.

MSSL's Consolidated Total Sales for Q2 FY 10-11 was up by 21% from Q2 FY09-10. Consolidated EBITDA grew by 87% while consolidated PAT grew by 475%.

MSSL recently set up new plants in Chennai for Nissan and Pune for Tata Motors and Mahindra & Mahindra. Both plants commenced operations in the last quarter. The company's plant in Bangalore (for Toyota) is ready and will start operations soon. The company has also begun construction of a new plant in Hungary.

MSSL has presence in 21 countries and has manufacturing bases in five continents across the globe- Asia, Europe, North America, and Australia & Africa.

MSSL is one of the largest manufacturers of Automotive Rearview Mirrors for passenger cars in the world together with being the largest manufacturer of automotive wiring harnesses in India. It also supplies plastic components and modules to the automotive industry. Other product range of MSSL comprises of rubber components for automotive and industrial applications, high precision machined metal parts, injection molding tools and HVAC Systems.

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