Mumbai –1st November 2023 – Motherson Sumi Wiring India Limited (MSWIL) today announced its financial results for the fiscal 2023-24 second quarter, which ended on 30th September 2023.
Mr. Vivek Chaand Sehgal, Chairman, of Motherson Sumi Wiring India Ltd., said,
The Company has delivered a commendable performance with the unwavering support of our valued customers and the relentless efforts of our teams across India. The Indian automotive industry continues to grow at a healthy rate. The company’s manufacturing expertise remains a crucial driver of its performance, and it is committed to enhancing its operational efficiencies further. Additionally, the company will continue to expand its capacities aligned to its customers’ upcoming launches across all powertrains.”
- Revenue for the quarter for the domestic wiring harness business exceeded Rs 2,000 crore for the first time.
- Efficient capacity utilisation
- Continues to be a debt-free company.
|Q2FY24||INR Crores||Growth on YoY basis|
Motherson Sumi Wiring India Limited (MSWIL)
Motherson Sumi Wiring India Limited (MSWIL) is a leading and fast-growing full-system solutions provider to OEMs in the wiring harness segment in India. Motherson Sumi Wiring India is a joint venture between Samvardhana Motherson International Limited (SAMIL) [Formerly Motherson Sumi Systems Limited] and Sumitomo Wiring Systems, Ltd. (SWS). The company is prepared to meet the customer needs at every stage of the supply chain, from initial product design and validation to tool design and manufacturing, finishing, processing, assembly, and finally, production of integrated cutting-edge Electrical and electronic Distribution Systems for the power supply or data transfer across vehicles. Motherson Sumi Wiring India Limited has a product profile that benefits from favorable industry trends of premiumization, which leads to an increase in automobile electrification, and supports current and future automotive trends. (CIN – L29306MH2020PLC341326) www.mswil.motherson.com