Auto components major Motherson Sumi Systems Ltd on Wednesday, June 2, reported a nearly eight-fold jump in its consolidated net profit at Rs 1,018.69 crore in the fourth quarter ended March 31, riding on robust sales.
Detailing the numbers, Vivek Chaand Sehgal, Chairman of the company said that the environment is in favour of better productivity. Going forward, Sehgal expects the company’s performance to only get better. “All around, the environment is such that there is better productivity and things are looking more positive. So, I believe that the performance is going to only improve, it is not going to deteriorate,” he reiterated in an interview to CNBC-TV18.
Sehgal further added that the company is in an acquisition mode now as there are a lot of opportunities to acquire companies. “Motherson is in acquisition mode. We are very well suited to do acquisitions. There are a lot of companies which are wanting to come out of this automotive side. So, we have a lot of opportunity there,” he said.
He also said that the demand from all car makers is huge, but there are some production constraints in India due to the pandemic. However, he expects the demand to come back in a big way once the restrictions are lifted.Watch the video for more.