MOTHERSON SUMI SYSTEMS LIMITED
Regd. Office: 2nd Floor, F-7, Block B-1, Mohan Cooperative Industrial Estate, Mathura Road, Delhi 110044
UNAUDITED CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER AND NINE MONTHS ENDED 31ST DECEMBER, 2012
(Rs. in Lakhs)
Particulars
Income from Operations
Net Sales/Income from Operations
(net of excise duty)
- Within India
- Outside India
(b) Other Operating Income
Total Income From Operations (Net)
Three months ended
31/12/2012
Unaudited
Three months ended
30/09/2012
Unaudited
Three months ended
31/12/2011
Unaudited
Nine Months ended
31/12/2012
Unaudited
Nine Months ended
31/12/2011
Unaudited
Year ended
31/03/2012
Audited
654,790
111,839
542,951
11,469
666,259
580,055
101,948
478,107
8,997
589,052
377,234
87,508
289,726
6,846
384,080
1,862,569
327,708
1,534,861
31,543
1,894,112
833,401
257,886
575,515
14,834
848,235
1,470,223
382,266
1,087,957
20,535
1,490,758
6,235
412,561
8,742
110,266
19,612
(9,563)
386,685
3,935
100,432
16,684
5,339
229,516
4,997
60,025
10,458
(15,082)
1,224,856
14,401
316,139
52,723
2,371
518,559
9,831
132,315
23,677
11,687
933,746
8,909
231,699
37,964
6,584
(193)
77,509
641,316
24,943
(8,427)
1,672
66,564
557,982
31,070
6,275
1,768
58,601
376,979
7,101
15,625
4,101
216,329
1,829,092
65,020
12,217
2,138
120,462
821,570
26,665
3,911
1,176
197,274
1,426,366
64,392
1
(a)
2
(a)
(b)
(c)
(d)
(e)
(f)
(g)
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
(a)
(b)
A
1
Expenses
Changes in inventory of Finished Goods, Work in Progress and
Stock in Trade
Cost of Material Consumed
Purchases of stock-in-trade
Employees Benefits Expense
Depreciation & Amortisation Expenses (Refer Note 6a below)
Exchange Differences (net) on:
- Long Term Loans
- Others
Other Expenses
Total Expenses
Profit from Operations before Other Income, Finance Cost &
Exceptional Items (1-2)
Other Income
Profit / (Loss) from ordinary activities
before finance costs and exceptional items (3+4)
Finance Costs
Profit after Finance Costs but before Exceptional Items (56)
Exceptional Income / (Expenses) (Net)
Profit (+)/ Loss (-)from Ordinary Activities before tax (7+8)
Tax expense / (Credit)
- Current
- Deferred
- Fringe Benefit
Net Profit (+)/Loss(-) from Ordinary Activities after tax (9-10)
Extraordinary Item (net of tax)
Net Profit (+)/Loss(-) for the period before share of profit/(loss)
of associates and minority interests (11-12)
Share of profit/(loss) of Associates
Minority Interests
Net Profit (+)/Loss(-) for the period (13+14-15)
Equity Share Capital including Share Capital Suspense account
(Face Value :- Rs. 1/- per share) (Refer Notes 5 and 7 below)
Reserve excluding Revaluation Reserves as
per balance sheet of previous accounting year
Earnings Per Share before Extraordinary items(EPS) (in Rs.)
Basic and diluted EPS before Extraordinary items (Refer Note 7
below)
- Basic
- Diluted
Basic and diluted EPS before Extraordinary items (Refer Note 7
below)
- Basic
- Diluted
PARTICULARS OF SHAREHOLDING
Public Shareholding
- Number of Shares
- Percentage of Shareholding
Promoters and promoter group shareholding
a) Pledged / Encumbered
- Number of shares1
- Percentage of shares (as a % of the total shareholding of
promoter and promoter group)
- Percentage of shares ( as a % of the total share capital of the
company)
b) Non-encumbered
- Number of shares
- Percentage of shares (as a % of the total shareholding of
promoter and promoter group)
- Percentage of shares ( as a % of the total share capital of the
company)
384
356
1,243
1,020
1,351
25,420
31,454
7,457
66,263
27,685
65,743
6,239
6,330
4,138
19,169
8,590
16,485
19,181
19,181
25,124
25,124
3,319
(8,342)
(5,023)
47,094
47,094
19,095
(8,342)
10,753
49,258
(8,092)
41,166
8,941
269
148
7,333
759
119
5,449
(372)
104
24,446
(256)
383
14,337
(597)
245
20,180
934
417
9,823
-
16,913
-
(10,204)
-
22,521
-
(3,232)
-
19,635
-
9,823
56
(423)
10,302
5,880
16,913
(49)
3,106
13,758
3,920
(10,204)
(107)
(7,839)
(2,472)
3,875
22,521
74
(2,279)
24,874
5,880
(3,232)
(102)
(9,815)
6,481
3,875
19,635
17
(6,312)
25,964
3,920
182,286
1.75
1.75
2.34
2.34
(0.42)
(0.42)
4.23
4.23
1.11
1.11
4.42
4.42
1.75
1.75
2.34
2.34
(0.42)
(0.42)
4.23
4.23
1.11
1.11
4.42
4.42
202,302,036
34.41%
134,848,689
34.40%
134,860,081
34.80%
202,302,036
34.41%
134,860,081
34.80%
134,827,983
34.79%
95,235,000
67,950,000
66,600,000
95,235,000
66,600,000
70,400,000
24.70%
26.43%
26.36%
24.70%
26.36%
27.86%
16.20%
17.34%
17.19%
16.20%
17.19%
18.17%
290,409,204
189,165,471
186,083,719
290,409,204
186,083,719
182,315,817
75.31%
73.57%
73.64%
75.31%
73.64%
72.14%
49.39%
48.26%
48.01%
49.39%
48.01%
47.04%
Investors complaints received and disposed off during the quarter ended December 31, 2012:
Complaints pending at the beginning of the quarter
Complaints received during the quarter
Disposal of complaints
Complaints lying unresolved at the end of the quarter
477
No's.
0
14
14
0
Includes 41,400,000 shares for which, as per information submitted by Samvardhana Motherson International Limited (SMIL) (formerly known as Samvardhana Motherson Finance Limited), SMIL has executed Nondisposal Undertakings (NDU).
MOTHERSON SUMI SYSTEMS LIMITED
Regd. Office: 2nd Floor, F-7, Block B-1, Mohan Cooperative Industrial Estate, Mathura Road, Delhi 110044
UNAUDITED STANDALONE FINANCIAL RESULTS FOR THE QUARTER AND NINE MONTHS ENDED 31ST DECEMBER,2012
Particulars
1
(a)
(b)
2
(a)
(b)
(c)
(d)
(e)
(f)
(g)
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
(a)
(b)
A
1
Income from Operations
Net Sales/Income from Operations
(net of excise duty)
- Within India
- Outside India
Other Operating Income
Total Income From Operations (Net)
Expenses
Changes in inventory of Finished Goods, Work in Progress and
Stock in Trade
Cost of Material Consumed
Purchases of stock-in-trade
Employees Benefits Expense
Depreciation & Amortisation Expenses
Exchange Differences on
- Long Term Loans
- Others
Other Expenses
Total Expenses
Profit from Operations before Other Income, Finance Cost &
Exceptional Items (1-2)
Other Income
Profit / (Loss) from ordinary activities
before finance costs and exceptional items (3+4)
Finance Costs
Profit after Finance Costs but before Exceptional Items (5-6)
Exceptional Income / (Expenses) (Net)
Profit (+)/ Loss (-)from Ordinary Activities before tax (7+8)
Tax expense / (Credit)
- Current
- Deferred
- Fringe Benefit
Net Profit (+)/Loss(-) from Ordinary Activities after tax (9-10)
Extraordinary Item (net of tax)
Net Profit (+)/Loss(-) for the period before share of profit/(loss) of
associates and minority interests (11-12)
Share of profit/(loss) of Associates
Minority Interests
Net Profit (+)/Loss(-) for the period (13+14-15)
Equity Share Capital including Share Capital Suspense account
(Face Value :- Rs. 1/- per share) (Refer Note 3 and 4 below)
Reserve excluding Revaluation Reserves as
per balance sheet of previous accounting year
Earnings Per Share before Extraordinary items(EPS) (in Rs.)
Basic and diluted EPS before Extraordinary items (Refer Note 4
below)
- Basic
- Diluted
Basic and diluted EPS before Extraordinary items (Refer Note 4
below)
- Basic
- Diluted
PARTICULARS OF SHAREHOLDING
Public Shareholding
- Number of Shares
- Percentage of Shareholding
Promoters and promoter group shareholding
a) Pledged / Encumbered
- Number of shares1
- Percentage of shares (as a % of the total shareholding of
promoter and promoter group)
- Percentage of shares ( as a % of the total share capital of the
company)
b) Non-encumbered
- Number of shares
- Percentage of shares (as a % of the total shareholding of
promoter and promoter group)
- Percentage of shares ( as a % of the total share capital of the
company)
104,086
89,591
14,495
2,367
106,453
Nine Months ended
31/12/2012
Unaudited
Nine Months ended
31/12/2011
Unaudited
(Rs. in Lakhs)
Year ended
31/03/2012
Audited
94,740
80,232
14,508
1,604
96,344
82,024
70,395
11,629
1,701
83,725
303,313
260,950
42,363
5,650
308,963
233,599
203,339
30,260
4,044
237,643
352,890
304,087
48,803
5,856
358,746
(1,265)
61,157
1,115
11,378
3,579
(12)
54,846
3,939
10,446
3,404
316
44,764
4,997
7,876
2,627
(5,011)
180,899
6,774
32,759
10,240
(729)
136,241
9,831
23,245
7,308
(1,028)
207,284
8,909
34,538
11,725
1,725
(895)
13,919
90,713
(2,433)
(490)
12,552
82,252
3,735
746
12,321
77,382
3,866
167
41,168
270,862
8,051
593
33,958
218,498
5,521
(1,208)
51,328
317,069
15,740
1,511
14,092
2,096
6,343
2,620
38,101
5,730
19,145
5,997
41,677
7,748
17,251
1,421
15,830
15,830
16,188
1,382
14,806
14,806
8,963
1,624
7,339
7,339
43,831
4,070
39,761
39,761
25,142
4,350
20,792
20,792
49,425
5,975
43,450
43,450
4,587
(445)
11,688
-
2,931
1,144
10,731
-
2,970
(1,117)
5,486
-
11,595
(878)
29,044
-
7,610
(2,012)
15,194
-
11,881
(148)
31,717
-
11,688
11,688
5,880
10,731
10,731
3,920
5,486
5,486
3,875
29,044
29,044
5,880
15,194
15,194
3,875
31,717
31,717
3,920
123,675
1.99
1.99
1.82
1.82
0.94
0.94
4.94
4.94
2.60
2.60
5.39
5.39
1.99
1.99
1.82
1.82
0.94
0.94
4.94
4.94
2.60
2.60
5.39
5.39
202,302,036
34.41%
134,848,689
34.40%
134,860,081
34.80%
202,302,036
34.41%
134,860,081
34.80%
134,827,983
34.79%
95,235,000
67,950,000
66,600,000
95,235,000
66,600,000
70,400,000
24.70%
26.43%
26.36%
24.70%
26.36%
27.86%
16.20%
17.34%
17.19%
16.20%
17.19%
18.17%
290,409,204
189,165,471
186,083,719
290,409,204
186,083,719
182,315,817
75.31%
73.57%
73.64%
75.31%
73.64%
72.14%
49.39%
48.26%
48.01%
49.39%
48.01%
47.04%
Investors complaints received and disposed off during the quarter ended December 31, 2012:
Complaints pending at the beginning of the quarter
Complaints received during the quarter
Disposal of complaints
Complaints lying unresolved at the end of the quarter
Three months ended Three months ended Three months ended
31/12/2012
30/09/2012
31/12/2011
Unaudited
Unaudited
Unaudited
No's.
0
14
14
0
Includes 41,400,000 shares for which, as per information submitted by Samvardhana Motherson International Limited (SMIL) (formerly known as Samvardhana Motherson Finance Limited), SMIL has executed
Non-disposal Undertakings (NDU).
MOTHERSON SUMI SYSTEMS LIMITED
Regd. Office: 2nd Floor, F-7, Block B-1, Mohan Cooperative Industrial Estate, Mathura Road, New Delhi 110044
UNAUDITED CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER AND NINE MONTHS ENDED 31ST DECEMBER,2012
SEGMENT REPORTING
(Rs. in Lakhs)
Consolidated
Three months
Three months
Three months
Nine Months
Nine Months
ended 31/12/2012 ended 30/09/2012 ended 31/12/2011 ended 31/12/2012 ended 31/12/2011
Particulars
Unaudited
1 Segment Revenue
(a) Automotive
(b) Non Automotive
(c) Unallocated
Total
Less: Inter Segment Revenue
Net Sales/Income from Operations
2 Segment Results
(a) Automotive
(b) Non Automotive
(c) Unallocated
Total
Less i) Interest (Net)
ii) Other unallocable expenditure
(Net of Unallocable Income)
(d) Profit/(loss) of Associate
Total Profit Before Tax
Capital Employed
3
(a) Automotive
(b) Non Automotive
(c) Others (Including Investments)
Total Segment Capital Employed
Unaudited
Unaudited
Unaudited
Unaudited
Year ended
31/03/2012
Audited
651,447
15,311
957
667,715
1,269
666,446
572,488
17,104
570
590,162
1,009
589,153
371,814
12,562
944
385,320
914
384,406
1,847,515
48,352
1,957
1,897,824
3,277
1,894,547
811,198
38,335
1,895
851,428
2,720
848,708
1,437,221
55,720
2,443
1,495,384
4,450
1,490,934
28,859
1,725
30,584
5,948
21,717
2,151
23,868
6,046
9,249
1,004
10,253
9,927
77,603
5,685
83,288
18,360
31,524
3,504
35,028
13,861
53,429
6,258
59,687
15,310
5,455
56
19,237
(7,302)
(49)
25,075
5,349
(107)
(5,130)
17,834
74
47,168
10,414
(102)
10,651
3,211
17
41,183
752,626
24,197
636
777,459
720,335
22,639
(2,299)
740,675
679,238
19,360
(1,769)
696,829
752,626
24,197
636
777,459
679,238
19,360
(1,769)
696,829
659,679
23,729
23,569
706,977
Notes:
1 The above financial results were reviewed by the Audit Committee and approved by the Board of Directors of the Company at their meetings held on February 11, 2013 and February
12, 2013 respectively.
2
At one of the Companys joint ventures, in view of rates of taxes on purchase of input goods being higher than those recovered on the finished goods, the balances of cenvat
recoverable are accumulating for which plan for utilisation is under preparation. In the absence of such plan being in place, the auditors of the joint venture are not able to assess the
recoverability of such balances and necessary provision, if any. This has, therefore, an impact on the consolidated results of the Company and the proportionate amount of such
accumulated balances, which relate to the Company of Rs 1,069 lakhs as on December 31, 2012. The limited review report of the statutory auditors on the consolidated financial
results of the Company is qualified in respect of this matter.
As explained above, the management of the joint venture company is in the process of finalization of business plan, which inter alia covers the utilisation of such balances, the
implementation of the same will address the issue.
The Company operates in two primary business segments, viz Automotive and Non Automotive, determined on the basis of nature of products and services.
The Consolidated results include results of Samvardhana Motherson B.V. (SMBV) which acquired stake in Peguform GmbH and Peguform Iberica, SL on November 23, 2011, hence
the figures of the current period are not strictly comparable with corresponding periods. The Company and Samvardhana Motherson International Limited (SMIL) hold directly or
indirectly 51% and 49% respectively in SMBV. Further during the quarter the Company through its subsidiaries has acquired 3.72% stake in Peguform Group (SMP Deutschland
GmbH and SMP Automotive Technology Ibrica S.L ) thereby increasing its stake in the Peguform Group from 80% to 83.72% and in lieu transferred the 50% stake held in Wethje
Group to Cross Industries at the cost of acquisition. The summary of SMP Group results included in the consolidated results is as under:
Particulars
Net Sales (Euro in millions)
Net Sales
Profit Before Interest, Tax, Depreciation & Exceptional Items*
Interest (net)
Depreciation & Amortisation Expenses
Profit Before Tax & Exceptional Items*
Exceptional Items (net)
Profit Before Tax after Exceptional ltems*
Profit After Tax
Concern share
*after exchange fluctuation loss/(gain) on long term loans
5
Three months
Three months
Three months
Nine Months
Nine Months
ended 31/12/2012 ended 30/09/2012 ended 31/12/2011 ended 31/12/2012 ended 31/12/2011
Unaudited
474.39
333,235
8,030
3,112
8,738
(3,820)
(3,820)
(5,604)
(3,392)
5,181
Unaudited
428.09
295,357
16,699
3,438
7,861
5,400
5,400
3,250
793
(5,736)
Unaudited
166.51
115,105
(1,643)
1,187
2,994
(5,824)
7,891
(13,715)
(16,230)
(7,578)
2,069
Unaudited
1,376.55
957,141
26,776
10,125
24,429
(7,778)
(7,778)
(13,815)
(9,320)
11,155
Unaudited
166.51
115,105
(1,643)
1,187
2,994
(5,824)
7,891
(13,715)
(16,230)
(7,578)
2,069
Year ended
31/03/2012
Audited
676.84
(Rs. in Lakhs)
452,788
8,908
6,540
8,476
(6,108)
7,637
(13,745)
(15,940)
(7,998)
(2,989)
The Company has issued 4,420,360 new equity shares on April 23, 2012 to the shareholders of erstwhile Sumi Motherson Innovative Engineering Limited (SMIEL) (which was
merged with the Company w.e.f. April 1, 2011, as part of a scheme on amalgamation) that became effective on March 31, 2012, thereby increasing its equity capital to Rs. 3,919.64
Lakhs.
The Consolidated results include results of Samvardhana Motherson Reflectec Group Holdings Limited (SMR) which had acquired all the subsidiaries of Visiocorp Plc.(in
administration) on March 06, 2009. The summary of SMR results included in the consolidated results is as under:
Particulars
Three months
Three months
Three months
Nine Months
Nine Months
ended 31/12/2012 ended 30/09/2012 ended 31/12/2011 ended 31/12/2012 ended 31/12/2011
Audited
860.04
(Rs. in Lakhs)
Net Sales
184,210
158,264
152,461
503,107
408,223
566,521
- Within India
7,346
7,239
5,694
21,720
18,807
25,453
- Outside India
176,864
151,025
146,767
481,387
389,416
541,068
Profit Before Interest, Tax, Depreciation & Exceptional Items*
13,296
8,168
7,002
28,320
15,862
26,690
1,295
1,321
1,035
3,932
2,517
3,372
Interest (net)
Depreciation & Amortisation Expenses (Refer Note a below)
5,800
4,176
3,550
13,924
9,833
13,583
6,201
2,671
2,417
10,464
3,512
9,735
Profit Before Tax & Exceptional ltems*
Exceptional Items (net)
6,201
2,671
2,417
10,464
3,512
9,735
Profit Before Tax after Exceptional ltems*
3,272
1,204
1,985
4,173
(1,280)
3,848
Profit After Tax
1,532
611
933
1,974
(610)
1,783
Concern share
*after exchange fluctuation loss/(gain) on long term loans
(322)
(258)
471
604
2,097
1,379
a) Includes Rs. 1,391 Lakhs being provision for impairment loss in respect of one of the subsidiaries considered in the consolidated financial results for the quarter and nine months
ended December 31, 2012 .
Net Sales (Euro in millions)
Unaudited
262.45
Unaudited
229.34
Unaudited
223.61
Unaudited
723.57
Year ended
31/03/2012
Unaudited
619.90
Consequent to the approval accorded by the shareholders the Company has allotted 195,982,080 shares on October 5, 2012 as Bonus Shares in the proportion of 1 share for every
2 shares. The aforesaid Bonus Shares were admitted to trading by the stock exchanges with effect from October 9, 2012. Accordingly, the basic and diluted earnings per share has
been adjusted for all the periods presented.
The figures of previous periods have been re-grouped, wherever necessary, to conform to the current periods classification.
By Order of the Board of Directors
For Motherson Sumi Systems Limited
Place : Noida
Date: February 12, 2013
-sdL V SEHGAL
Director
MOTHERSON SUMI SYSTEMS LIMITED
Regd. Office: 2nd Floor, F-7, Block B-1, Mohan Cooperative Industrial Estate, Mathura Road, New Delhi 110044
UNAUDITED STANDALONE FINANCIAL RESULTS FOR THE QUARTER AND NINE MONTHS ENDED 31ST DECEMBER,2012
Particulars
1 Segment Revenue
(a) Automotive
(b) Non Automotive
(c) Unallocated
Total
Less: Inter Segment Revenue
Net Sales/Income from Operations
2 Segment Results
(a) Automotive
(b) Non Automotive
(c) Unallocated
Total
Less i) Interest (Net)
ii) Other unallocable expenditure
(Net of Unallocable Income)
Profit of Associate
Total Profit Before Tax
3
Capital Employed
(a) Automotive
(b) Non Automotive
(c) Others (Including Investments)
Total Segment Capital Employed
Three months ended
31/12/2012
Unaudited
SEGMENT REPORTING
Standalone
Three months ended Three months ended Nine Months ended
30/09/2012
31/12/2011
31/12/2012
Unaudited
Unaudited
Unaudited
(Rs. in Lakhs)
Nine Months ended
31/12/2011
Unaudited
Year ended
31/03/2012
Audited
98,337
9,224
1,583
109,144
1,269
107,875
88,365
8,840
2,178
99,383
1,009
98,374
77,575
6,971
2,675
87,221
914
86,307
285,743
26,094
5,915
317,752
3,277
314,475
218,268
21,627
6,161
246,056
2,720
243,336
330,156
32,332
7,960
370,448
4,450
365,998
15,391
1,018
16,409
1,331
10,032
988
11,020
1,314
9,344
641
9,985
1,586
39,115
2,616
41,731
3,851
24,658
2,069
26,727
4,045
41,331
3,949
45,280
5,477
(752)
15,830
(5,100)
14,806
1,060
7,339
(1,881)
39,761
1,890
20,792
(3,647)
43,450
201,509
15,532
40,358
257,399
196,967
13,696
33,377
244,040
165,596
11,678
41,871
219,145
201,509
15,532
40,358
257,399
165,596
11,678
41,871
219,145
186,196
13,890
39,305
239,391
Notes:
1 The above financial results were reviewed by the Audit Committee and approved by the Board of Directors of the Company at their meetings held on February 11, 2013 and February 12,
2013 respectively.
2 The Company operates in two primary business segments, viz Automotive and Non Automotive, determined on the basis of nature of products and services.
3 The Company has issued 4,420,360 new equity shares on April 23, 2012 to the shareholders of erstwhile Sumi Motherson Innovative Engineering Limited (SMIEL) (which was merged
with the Company w.e.f. April 1, 2011, as part of a scheme on amalgamation) that became effective on March 31, 2012, thereby increasing its equity capital to Rs. 3,919.64 Lakhs.
4 Consequent to the approval accorded by the shareholders the Company has allotted 195,982,080 shares on October 5, 2012 as Bonus Shares in the proportion of 1 share for every 2
shares. The aforesaid Bonus Shares were admitted to trading by the stock exchanges with effect from October 9, 2012. Accordingly, the basic and diluted earnings per share has been
adjusted for all the periods presented.
5 The figures of previous periods have been re-grouped, wherever necessary, to conform to the current periods classification.
By Order of the Board of Directors
For Motherson Sumi Systems Limited
Place : Noida
Date: February 12, 2013
-sdL V SEHGAL
Director
