BQ Blue's special research section collates quality and in-depth equity and economy research reports from across India's top brokerages, asset managers and research agencies. These reports offer BloombergQuint's subscribers an opportunity to expand their understanding of companies, sectors and the economy.
Motilal Oswal Report
Motherson Sumi Systems Ltd.'s Q4 FY21 performance was a beat led by strong performance in India and Samvardhana Motherson Peguform, as well as lower tax.
The company would continue to benefit from a cyclical recovery in its key businesses as well as from a strong order book and improving efficiencies in Samvardhana Motherson Automotive Systems Group BV.
The company declared a dividend of Rs 1.5/share for FY21 (same as FY20).
We upgrade our FY22E/FY23E earnings per share by 16%/20%, factoring in a strong recovery in SMP, India, and PKC Group Plc., as well as a lower tax rate.
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