Samvardhana Motherson International Limited

(formerly Motherson Sumi Systems Limited)

Head Office: C-14 A & B, Sector 1, Noida – 201301 Distt. Gautam Budh Nagar, U.P. India
Tel: +91-120-6752100, 6752278, Fax: +91-120-2521866, 2521966, Website: www.motherson.com

May 29, 2024

BSE Limited National Stock Exchange of India Limited

1st Floor, New Trading Ring Exchange Plaza, 5th Floor
Rotunda Building Plot No. C/1, G-Block
P.J. Towers, Dalal Street, Fort Bandra-Kurla Complex, Bandra (E)
MUMBAI – 400001, India MUMBAI – 400051, India

Scrip Code: 517334 Symbol: MOTHERSON

Ref. : Audited Financial Results for quarter and financial year ended March 31, 2024

Dear Sir(s) / Madam(s),

The Board of Directors of the Company in its meeting held on Wednesday, May 29, 2024, inter-alia, has:

a) approved Audited Standalone and Consolidated Financial Results of the Company for the quarter and
financial year ended on March 31, 2024; and

b) recommended a dividend of INR 0.80 (Eighty Paise only) per equity share (face value of Re. 1/- each)
for the financial year ended March 31, 2024 on the Equity Share Capital of the Company, subject to
the approval of the shareholders at the ensuing Annual General Meeting (“AGM”).

Further, pursuant to Regulation 33 of SEBI (Listing Obligations and Disclosure Requirements)

Regulations, 2015 (“SEBI LODR”), please find enclosed the following:

1. Audited Standalone and Consolidated Financial Results for the quarter and financial year ended on
March 31, 2024;

2. Auditors’ Reports on the Standalone and Consolidated Financial Results for the quarter and financial
year ended on March 31, 2024;

3. Presentation on the performance of the Company for the quarter and financial year ended on March
31, 2024; and

4. Copy of the Press Release issued by the Company.

Further, pursuant to second proviso to Regulation 33(3)(d) of SEBI LODR, it is hereby confirmed that the
aforesaid Audit Report(s) on Audited Standalone and Consolidated Financial Results is an unmodified
opinion.

The results will be uploaded on Company’s website www.motherson.com in compliance with Regulation
46(2)(I)(ii) of SEBI LODR and will be published in the newspapers in terms of Regulation 47(1)(b) of SEBI
LODR.

We shall inform you in due course the date on which the Company will hold its AGM for the year ended
March 31, 2024 and the date from which dividend, if approved by the shareholders, will be paid or warrants
thereof dispatched to the shareholders.

Regd Office:
Unit – 705, C Wing, ONE BKC, G Block
Bandra Kurla Complex, Bandra East
Mumbai – 400051, Maharashtra (India)
Tel: 022-61354800, Fax: 022-61354801
CIN No.: L35106MH1986PLC284510
Email: [email protected]
The Board Meeting of the Company commenced at 1020 Hours (IST) and concluded at 1425
Hours (IST).

The above is for your information and records.

Thanking you,

Yours truly,
For Samvardhana Motherson International Limited
(formerly Motherson Sumi Systems Limited)

ALOK Digitally signed

by ALOK GOEL

GOEL Date: 2024.05.29

14:28:45 +05'30'
Alok Goel
Company Secretary
 Proud to be
part of our
customers’
success

Samvardhana Motherson International Limited.

(Formerly Motherson Sumi Systems Ltd.)
Results Presentation for FY 2023-24
Key Highlights 01/02

SAMIL is a strong platform delivering all- round growth...

Performance Overview.
Consolidated
FY 24 Growth % vs FY23
(Rs in crores)

Revenue1 98,692 25%

EBITDA 9,325 46%
PAT (Concern Share) 2,716 82%

Industry Overview.
The global automotive production volume growth remained positive

• YoY production growth across all key geographies

• Automotive mega trends of premiumisation & SUVs continue to
drive content growth.
• Hybrids and EVs are growing, although at a slower-than-estimated
pace.

Macroeconomic factors have stabilised at higher levels, though

pockets of challenges are still visible.

• Geo-political tensions creating pressure on logistics costs

• Wage inflation continues to mount pressure in various geographies
• Commodities on a rise after few stable quarters

We continue to work closely with our customers to address these

challenges.
Notes :
22 1. Revenue from operations
Key Highlights 02/02
...with strong financial discipline,
leading to long-term value creation
Performance Highlights.

• Delivered Consolidated ROCE1 of 17% for FY24, compared to

11% in FY23; continued focus on further improvements.
• Strong customer relationships reflected in USD 83.9 Bn
automotive booked business2 (excluding Yachiyo)
• Majority of Growth Capex is in emerging markets; 18
greenfields are on track to come on stream
• Visible results of Inventory/working capital optimisation –
continue to be a key focus area.
• All announced M&As closed as of May 2024, with integration
well on track.
• Leverage ratio3 maintained at 1.4x (same as FY23) despite
large M&A payouts and growth capex.
• Positive ratings action from
• Moody’s: Ba1 corporate family rating (CFR). Outlook revised
to “Rating under review for upgrade” from “Stable” (SAMIL
& SMRP B.V).
• Fitch: Senior secured bonds upgraded to BBB- / Investment
grade (SMRP B.V).
• Simplification of structure with majority of international business
now under SMRP B.V.
Notes :
1. Please refer to slide 18 for definition of ROCE
2. Booked business is the sum of the lifetime sale value of orders yet to start production and orders currently under production, please refer to slide 10 for details
33 3. Leverage ratio = (Net Debt + Lease Liability) / LTM EBITDA. Since for the assets acquired during the year, full net debt has come on the books but EBITDA only for
acquired period, to have a like for like comparison while computing the leverage ratio LTM EBITDA of the acquired assets (other than Yachiyo) have been considered
 FY 2024 saw
improvements in
business environment.

Improved to being stable,

albeit at a higher level -
challenges remain in
certain pockets.

Robust demand
augmented by
automotive megatrends

44
 Inflation, energy and interest rates stable at elevated levels, wage related
challenges remain, commodities showing upward trend.
EU, USA & India Energy prices EU, USA & India
Inflation1 For Germany Interest rates1
(in %) in Euro /MWh2
400 (in %)
145
1 2.0

350

125
7 .0
%
6.4% 6.5%
1 0.0
300

8.0 8.0
5.4%
105

4.9%
6 .0
%

8 .0 250

6.3 4.0%
5 .0
%

5.8
85

6 .0 5.0
200
163 4 .0
%

6.1 6.2 150

65
4.5%
98 3 .0
%

4 .0
3.3
61
45
100
2 .0
%
3.0%
2 .0
32 25 0.4%
2.6
50 1 .0
%

- 5
0 .0
%
0.0%
0 .0

Q4FY22 Q1FY23 Q2FY23 Q3FY23 Q4FY23 Q1FY24 Q2FY24 Q3FY24 Q4FY24 Q4FY22 Q1FY23 Q2FY23 Q3FY23 Q4FY23 Q1FY24 Q2FY24 Q3FY24 Q4FY24 Q4FY22 Q1FY23 Q2FY23 Q3FY23 Q4FY23 Q1FY24 Q2FY24 Q3FY24 Q4FY24

Copper & Aluminium World Container Index Wage pressures

USD / Metric Tonne2 (USD1) across the world
Avg for Month 14,00 0

of April and May

Cop per Alum in ium (till 22nd) 2024
12,00 0

showing an Blip due to

uptrend 10,00 0 geopolitical issues
8,152 in middle-east
9,997 9,740
8,927 8,000

6,043 8,438
6,000

4,000

1,717 2,929
3,262
1,807 2,401 2,200 2,520 2,000 1,313
-

Q4FY22 Q1FY23 Q2FY23 Q3FY23 Q4FY23 Q1FY24 Q2FY24 Q3FY24 Q4FY24 Q4FY22 Q1FY23 Q2FY23 Q3FY23 Q4FY23 Q1FY24 Q2FY24 Q3FY24 Q4FY24

Stable at elevated levels Witnessing increasing trend Challenging X Indicates pre-covid level
55 Sources : Bloomberg
1. All the data points are average for the closing numbers for each month in the quarter 2. Based on average of spot rates for the quarter
Global automotive production on a full year grew
across all key geographies.

Global production volumes moving Though Europe, North America still ~10-15% below pre-covid levels;
towards pre-covid levels, indicating steady growth.. while India and China already above pre-covid levels.
Data represents automotive production volumes in million for light vehicles

Europe North America

92.8
16.5 17.7 14.6 15.7
90.2 15.1 13.0
7% 7%

0.56 0.61 0.65 0.52 0.60 0.62

83.8 83.8
8% 7% 4%
FY 22 FY 23 FY 24 FY 22 FY 23 FY 24
77.4
76.4
India China
4.6 4.9 25.2 26.1 29.5
3.7 7% 13%

0.81 1.04 1.07

1.27 0.81 1.17
3% 44%
FY 19 FY 20 FY 21 FY 22 FY 23 FY 24 FY 22 FY 23 FY 24 FY 22 FY 23 FY 24

Production of light vehicles in millions Production of commercial vehicles in millions

Growth w.r.t previous 12M
66
Source: Light Vehicles: S&P Global Mobility; Light Vehicle Production Forecast March 2024, Region India – SIAM / Commercial Vehicles: Global Data; Commercial Vehicle Production Forecast April 2024,
Region India - SIAM
 Automotive mega trends for increase in content clearly playing out
across geographies albeit at varied pace.
EV as % of total production volume *Hybrid as % of total production volume SUVs as % of total production volume

Europe North America Europe North America

15.7% 43.0% 44.7%

29.5% 39.8% 51.1% 51.2% 52.7%
26.2% 32.3% 13.3%
22.2% 11.7% 16.1%

7.5%
11.4% 6.3%
10.4% 15.7% 4.5% 10.2% 27.4%
6.7% 26.3% 27.6%

17.4% 17.8%
FY 22 FY 23 FY 24 16.6%
FY 22 FY 23 FY 24 FY 22 FY 23 FY 24
FY 22 FY 23 FY 24

India China India China

43.2% 42.9% 45.8%

37.4% 41.1%
8.8% 35.2%
7.6% 10.8% 26.8% 26.3%
22.7%
4.8%
14.1%
2.2% 20%
0.5%
1.2%
3.5% 1.2% 1.2% 1.3%
14.0% 16.4%
9.8% 14.2% 14.4%
12.4%
FY 22 FY 23 FY 24 FY 22 FY 23 FY 24 FY 22 FY 23 FY 24 FY 22 FY 23 FY 24

Powertrain
Share of Hybrid
agnostic portfolio, SUVs
and EVs has increased
continued
consistently,
to gain market
though at a Well positioned to
share across
slower-than- gain from content geographies
expected pace increase
XX Estimated shares a year ago

77
*Note: Hybrid implies Mild & Full hybrid vehicles, Source: S&P Global Mobility; Light Vehicle Engine Type Production Forecast March 2024
 SAMIL – Strong and
diversified Platform
delivering robust
performance.

Positive contribution by
organic and inorganic
businesses

Continued customer trust

resulting in long-term
visibility on revenues.

Full impact of M&As to

further strengthen
88
diversification
 Strong growth in Revenues with improved profitability;
All engines firing (organic and inorganic businesses).
(all figures are Rs. in Crores)
Consolidated Financial Performance 12MFY24
Revenue EBITDA PAT (Concern Share)

+ 25% YoY + 46% YoY + 82% YoY

150,0 00
148,0 00
146,0 00
144,0 00
142,0 00
140,0 00
138,0 00
136,0 00

9.2%
134,0 00
132,0 00
130,0 00 3,500
128,0 00 0. 09
126,0 00
124,0 00

2,716
122,0 00
120,0 00

8.0%
118,0 00

9,325
116,0 00 0. 08
114,0 00

98,692
3,000
112,0 00
110,0 00

16
108,0 00 10. 0%
106,0 00
104,0 00

197
102,0 00 0. 07
100,0 00
98,00 0
96,00 0
94,00 0 8,800 9. 5%
2,500

78,788
92,00 0
90,00 0 0. 06
88,00 0

6,394
86,00 0

1,590
84,00 0
82,00 0 9. 0%
80,00 0 2,000
78,00 0
76,00 0 0. 05
74,00 0

59
72,00 0
70,00 0 8. 5%

94
68,00 0
66,00 0
64,00 0
62,00 0 1,500 0. 04

2,701
60,00 0

9,128
58,00 0 8. 0%
56,00 0
54,00 0
52,00 0
50,00 0 0. 03
48,00 0
46,00 0 7. 5%
44,00 0 1,000

6,335 1,496
42,00 0
40,00 0
38,00 0
36,00 0 0. 02
34,00 0 7. 0%
32,00 0
30,00 0
28,00 0 500
26,00 0
24,00 0 0. 01
22,00 0 6. 5%
20,00 0
18,00 0
16,00 0
14,00 0
12,00 0
10,00 0
800 6. 0%
- 0

3
12M FY23 12M FY24 12M FY23
1
12M FY24 12M FY23 2 12M FY24 4

• Out of total Revenue growth, ~12.5% contributed by organic business.

• FY24 includes revenue from acquired assets of Rs 10,129 crores and EBITDA of Rs 915 crores. (Yachiyo acquisition was completed on 26th March 2024 and
hence no impact on P&L for the year FY 2024, however it is consolidated as part of balance sheet. Lumen and ADI were closed in April and May, respectively and full impact of
these will come in Q1 FY 2025)
Notes:
1. FY23 EBITDA includes net impact of Rs 59 crores on account of (a) Income of ~Rs 46.4 crores (Euro 5.7 Mn) received on account of insurance claims for the production stoppage due to flood in Durban plant in Q1FY23 (b) Rs 86 crores on account of write back of provision related to a
litigation recorded in earlier periods now no longer required due to favorable judgement received, (c) Rs 73 Cr of impairment on certain investments; EBITDA margin computed is excluding the one-off income
2. FY23 PAT includes net impact of Rs 94 crores a) exceptional items of Rs 98 Cr on account of impairment provisions on the assets as well as other costs related to production suspension in Russia, b) one time income of ~ Rs 33 crores (Post Tax) on account of insurance claims for the
production stoppage due to flood in Durban plant in Q1FY23 c) Rs 14 crores on account of deferred tax reversal in Russia and d) net impact of Rs 75 crores (post tax) of impairment loss on goodwill and Investment in respect of subsidiaries and JVs, d) Rs 60 crores (post tax) on account of
write back of provision related to a litigation recorded in earlier periods now no longer required due to favorable judgement received
3. FY24 EBITDA includes a positive impact of Rs 197 Cr contributed by customers for forex losses.
4. FY24 PAT includes a positive impact Rs. 16 Cr on account of a) Rs 293 crores of loss in net monetary position in subsidiaries located in the hyperinflationary economy of Argentina b) exceptional loss provision of Rs. 249 crores in respect of phased operational realignment of certain
99
automotive capacities located in Europe c) positive impact of reversal of impairment and restructuring cost in respect to one subsidiary in Brazil amounting to Rs. 130 crores d) positive impact of Rs 231 cr on account of deferred tax assets in various geographies and e) positive impact of Rs
197 Cr contributed by customers for forex losses.
SAMIL’s Automotive ‘Booked Business’.

23%
SAMIL Automotive Businesses1,2,3 from EV.
90.00 83.9
Wiring Harness Modules & Vision Integrated billion USD.
(India and Overseas) Polymer Products Systems Assemblies 85.00 (Excluding Yachiyo)

6.6
billion USD.
80.00

77.3
75.00

billion USD.
70.00

Lighting & Precision Metals Elastomers

Electronics & Modules
65.00

60.00

55.00

50.00

SAMIL Automotive Net Increase4 Automotive

Booked Business Booked
Note
as on 30th Sep 2023
Business
1. Booked business for automotive businesses i.e. excluding Technology and Industrial Solutions, Aerospace, Logistics Solutions and Health and Medical business divisions
2. Volume assumptions for sales planning activities are based on internal assessment which considers various sources (including OEM production forecasts, views of external market consultants, internal of SAMIL
knowledge and insights). as on 31st March 2024
3. Booked business is computed as sum of the lifetime sales of business “Under production” and business “Yet to start production”
4. Net Increase factors following
• Addition of new wins during the period net of reduction to the extent of revenues realized in the period
10
10
• Impact of all automotive M&As closed between 1st October 2023 to 31st March 2024, excluding Yachiyo
• Any changes in the volume outlook in the same period
Unique diversification strategy, Competitive advantage and
cushion against regional volatilities.
Some major regional risks which
impacted businesses in FY24… ….mitigated by gains in other
regions and vehicle mix

Red sea crisis creating

logistical challenges Strong pickup in Faster pace of
Light Vehicle content growth in
Energy crisis in Europe
production across Light Vehicles in
emerging emerging markets
markets

New programs ramp-up

related challenges
Labour strikes in USA Robust demand Continued growth in
of medium, premium Light
heavy-duty trucks in Vehicle segment in
developed markets developed markets
Disruption in
OEM supply chain
in Europe
Hyperinflation in
Argentina
11
11
 Continued Focus on risk mitigation via diversification
3CX10 (FY24).
Component wise. Customer wise. Country wise.
(top 20 customers)
Merced es Benz 11% India
Wiring Harness 25% 20%
Aud i 9%
Vision Systems 17% Volkswagen 9% USA 18%
Maru ti Suzu ki 6%
Bumpers* Germany 17%
13% BMW 5%
Engineering*
Porsch e 4% China 11%
10% Top 20
Stellantis 4%
Door Panels* Full impact of customers Hungary 6%
9% Hyun dai 3%
closed M&As to account for
Integrated further diversify the Fo rd 3% Spain Emerging
6% >70 % of overall 5%
Assembly component mix Daimler Trucks 3% markets1
specially with addition revenues
Instrument Panel* of sun-roofs and American EV OEM 3% Poland 4% account for
6%
fuel tanks Paccar 2% > 50% of total
Other Polymer Mexico 4%
7% Renault 2%
revenues in
products*
Tata Motors France
FY24
2% 4%
Wires 4%
Scan ia 1% Full impact of closed
M&As to further South Korea 3%
Non-Automotive Seat 1%
1% diversify the customer
Mahindra 1% mix specially with Others 9%
Others 3% Gen eral Moto rs addition of
1%
Honda
John Deere 1% 1Emerging markets defined as Brazil, China, India, Mexico, Sri
Kia Moto rs Lanka, Thailand, South Korea, South Africa, Czech Republic, Hungary,
1% UAE, Slovakia, Serbia, Turkey, Argentina, Philippines, Morocco,
Indonesia, Poland as per MSCI Emerging Markets Index
Notes:
1.Total revenue considered is including 100% of joint venture and associate companies consolidated under equity method (Economic Revenue).
12
12
2. Revenue by country is based on manufacturing locations except in certain cases of job works locations like Mexico and India.
* Under Modules and Polymer Products business division
 Prudent
Financial policies
geared towards
sustainable growth.

Reduction in Debt and

improvement in leverage
and working capital

Continue to invest in
growth of organic
business, especially in
emerging markets.

13
13
Reduction in leverage to 1.4x from 1.7x and
reduction in Gross Debt of ~1,800 crores vs Dec-23.

Gross and Net Debt1 with Cash and Bank Balance

(Rs in Crores)
40,00 0 2.8

35,00 0

2.1 2.3

2.0 1.9
1.8 Net debt to
30,00 0

1.7
1.8

EBITDA below 1.5x

25,00 0

1.4 1.4 1.4 despite large M&A

19,228 19,186
20,00 0

17,351 1.3
payouts and
5,812 growth capex done
12,356 12,671 12,968 12,546 6,636
12,166 for future
15,00 0

6,979 0.8

10,00 0 4,087 4,126 4,526 4,692 4,235

13,416 12,550
0.3

8,545 10,372
8,442 8,311
5,000

8,269 7,474
- (0. 2)

Jun-22 Sep-22 Dec-22 Mar-23 Jun-23 Sep-23 Dec-23 Mar-24

Net Debt Cash and Bank Balance Gross Debt Leverage Ratio2

Notes:
1. Net Debt = Gross Debt - Cash & Cash equivalents
2. Leverage ratio = (Net Debt + Lease Liability) / LTM EBITDA. Since for the assets acquired during the year full net debt has come on the books but EBITDA is only for acquired period, to have a like for like comparison while computing
14
14 the leverage ratio for Sep-23, Dec-23 and Mar-24, LTM EBITDA of the acquired assets have been considered (other than Yachiyo)
 Visible improvements in Inventory management;
Continues to be a focus area for further improvements.

60
Inventory Days1 57
(on sales)
55
Improvement
on YoY and
50
QoQ
Reaching closer 44
45 to the pre-covid
level
40
37
36
35 35 35 35
33 33 33
35 Post covid level 32
31 31
30
29 Pre covid level 28 29 29
30
28 28
26 26 26

25

Q1 FY1 9 Q2 FY1 9 Q3 FY1 9 Q4 FY1 9 Q1 FY2 0 Q2 FY2 0 Q3 FY2 0 Q4 FY2 0 Q1 FY2 1 Q2 FY2 1 Q3 FY2 1 Q4 FY2 1 Q1 FY2 2 Q2 FY2 2 Q3 FY2 2 Q4 FY2 2 Q1 FY2 3 Q2 FY2 3 Q3 FY2 3 Q4 FY2 3 Q1 FY2 4 Q2 FY2 4 Q3FY24 Q4FY24

20

FY19 FY20 FY21 FY22 FY23 FY24

Notes:
15
15 1. Calculated based on average of closing and opening inventory for the reported period and annualized sales for the reported period
 Creating a strong platform for future growth,
especially in emerging markets.
A large part of growth capex in FY 2024 was spent in emerging
Annual Capex economies across auto and non-auto businesses and will
Capex spend of continue to be focus area in FY 2025
(Rs in Crores) ~ Rs. 4,000
crores, i.e.; 43% New Facilities added to the list compared to those
of EBITDA announced previously during Q3FY24.

# of Greenfield
Expected
Division Facilities
SOP
(Country)
2, 000 65% 70%

02 (India, China) Q3FY26 / Q2FY26

1, 800 Wiring Harness
54% 02 (India) Q1FY25 / Q2FY25
52%
60%

1, 600
01 (Poland) Q4FY26
1,296 50%
Modules & Polymer
1, 400
02 (India, China) Q1FY25
40% 1,231
18
1, 200 37% 36%
32% 40%
Integrated Assemblies 02 (China) Q4FY25 green fields
1, 000
31% 24%
767 at different
733 716 01 (India) Q1FY27
800 698 30%

Lighting and Electronics stages of

619 02 (India) Q2FY25 completion
600 475 20%

356 Precision Metal and

400 02 (India) Q3FY25
10%
Modules
200
Technology and
01 (India) Q4FY26
-
Industrial Solutions
0%

Q4FY22 Q1FY23 Q2FY23 Q3FY23 Q4FY23 Q1FY24 Q2FY24 Q3FY24 Q4FY24

Aerospace 02 (India) Q2FY25 / Q4FY25

Capex / EBITDA Ratio

Health and Medical 01 (India) Q1FY25

16
16
 Continued focus
on ROCE.

Visible improvement
on account of focused
actions

17
17
Delivered meaningful improvements in ROCE.

18% Continued focus on

improving ROCE …

17%
19
Larger size and
Successful
17%

scale leading to
17
15%
turnaround of better operating
underperforming
15
11% units
leverage and
operating
13%

13

11%
efficiencies
11

9 6% 7% 9%

7%
7

5 5%

FY21 FY22 FY23 FY24

Successful
Focused approach
integration of
for normalizing the
acquisitions and
expanded working
Consolidated Excluding M&As, green fields done realisation of
capital
x x synergies
ROCE during the vision 2025 period

Consolidated ROCE defined as

• EBIT / Average capital employed

• EBIT is defined as reported EBIT + Income from JVs
• Capital employed excludes intangibles and fair valuation impact created due to group wide reorganisation done in FY 22 and capital work in progress assets
18
18
(CWIP)
 Strong performance
across all business
divisions.

19
19
 Business Divisions.

01. 02. 03. 04. 05.

Wiring Vision Modules & Polymer Integrated Emerging
harness Systems Products Assemblies Businesses

Elastomers Lighting & Precision Technology & Aerospace Logistics Health Services
Electronics Metals & Industrial Solutions &
Modules Solutions Medical

20
20
Divisional Overview.
FY 2023-24
01.Wiring 02.Modules and 03.Vision
Harness Polymer Products Systems
21 26 18
countries countries countries
27% 43% 17%
107 129 39
facilities facilities facilities

04.Integrated 05.Emerging
Assemblies Businesses

12 18
countries countries
6% 7%
26 99
facilities facilities
Notes:
• Revenue spilt is based on the Economic revenue numbers for FY24 i.e. before elimination of inter segment revenues and joint ventures and associates accounted for as per equity method
21
21 • Facilities include all operational units (manufacturing plants, module centres, assembly centres, units for service businesses), tech centres and representative offices, including those of all closed
acquisitions as on 29th of May 2024
 Business Division Wise Financial Performance1 : 12MFY24 vs 12MFY23.
(all figures are Rs. in Crores)

Wiring Modules and Vision Integrated Emerging

Harness. Polymer Products. Systems. Assemblies1. Businesses.
Revenues Revenues Revenues Revenues Revenues
+ 19% +18% 49,912 + 16% + 18%
31,514 42,262
26,557 41,00 0
20,00 0

19,149 8,090
16,569
19,00 0

18,00 0

17,00 0 6,824 6,844

21,00 0 16,00 0

15,00 0 7,0 00
21,00 0
6,0 00
14,00 0
5,0 00
13,00 0
4,0 00
12,00 0 3,0 00 6,824
11,00 0
2,0 00
1,0 00
1,000 1,000
10,00 0
-

12M FY23 12M FY24 12M FY23 12M FY24 12M FY23 12M FY24 YTD FY24 12M FY23 12M FY24

EBITDA EBITDA EBITDA EBITDA 3, 000

EBITDA 18. 0%

10.7%
16. 0%

8.6%
2, 500

14. 0%

10.3% + 16% 10.3%

3,000 18. 0%

4,000
8.6% + 48% 3,362 18. 0%

6.4% +58% 4,305 16. 0% 8.7% 2, 000

+ 42% 13.5% 12. 0%

11.3%
5,000 18. 0%

1,978
2,500

1,711
3,500 16. 0%
4,500 16. 0% 14. 0% 10. 0%

2,279 2,724 793

14. 0% 4,000

1,096
14. 0% 1, 500
3,000 2,000 12. 0%
3,500 8. 0%
12. 0% 12. 0%
2,500

197
10. 0%
3,000 800 18. 0%

773
10. 0% 10. 0% 1,500
700 1, 00016. 0% 6. 0%
2,000 2,500 8. 0%
600 14. 0%
8. 0% 8. 0%
2,000 12. 0%
500
1,500 1,000 6. 0% 10. 0% 4. 0%
6. 0% 6. 0% 400

596
1,500 8. 0%
500
1,000 300
4. 0% 4. 0% 6. 0%
4. 0% 1,000
200 2. 0%
500 4. 0%
500 500 2. 0% 2. 0% 100 2. 0%
2. 0%
- 0. 0%
- 0. 0% 0 0. 0%
- 0. 0% - 0. 0%

12M FY23 12M FY24 12M FY23 12M FY24 12M FY23 12M FY24 YTD FY24 12M FY23 12M FY24

Notes: Divisional numbers reported are including 100% of joint ventures and associates accounted as per equity method (Economic Revenue)
22
22 1. FY24 EBITDA includes a positive impact of Rs 197 Cr contributed by customers for forex losses.
Key Divisional Highlights.
Wiring Modules and Vision Integrated Emerging
Harness. Polymers. Systems. Assemblies. Businesses.

ü Revenue growth supported by ü Revenue growth led by ü Revenue growth led by ü Results include 8 months of SAS ü Successfully closed largest non-
strong demand across acquisition i.e. Aug 2023 - Mar automotive acquisition, AD
ü Growth in light vehicle volumes ü Diversified portfolio and
2024 industries in France, to start
ü Medium and heavy-duty trucks across geographies, further growth in light vehicle contributing from Q1 FY 25
in north America , Europe and aided by content increase due to volumes across geographies ü Successfully integrated the
China premiumization business into Motherson’s ethos ü Health & Medical greenfield
ü Successful integration of key
and systems receiving necessary certifications
ü Passenger vehicles in India ü Successful integration of key M&As, such as Ichikoh’s and prototyping is currently
M&As such as Dr. Schneider mirror business ü Synergies realization expected
ü Improved profitability mainly due to underway, integration of Irillic
Group and Saddles to come onstream as planned underway
operating efficiencies and ü Maintained strong profitability
successful ramp-up of new ü Improved profitability due to despite ü Double-digit growth in logistics,
programs in Europe operating leverage, stringent cost
Ø Multiple challenges such as driven by finished vehicle services
control, cooling of energy costs and for OEMs, along with consolidation
Ø Inflationary pressures on minimum margin accretive M&As Labour strike in USA
wages and forex volatilities (e.g impacting the production of and efficiency improvements in
Mexican pesos) continue to pose Ø Ramp-up of certain programs at key OEMs internal logistics
challenges. facilities across Europe and ü Technology and industrial solutions
Americas continue to impact
business turned profitable in FY 24
profitability
ü Greenfield on track for Consumer
electronics business to come
onstream in Q2 FY 25

23
23
ü Indicates Positives for SAMIL Ø Indicates Negatives for SAMIL
Financial Performance :
Business Divisions under Emerging businesses.
(all figures are Rs. in Crores)

Revenue by Segment FY24

Emerging Business FY 2023 FY 2024
Division (FY24) Revenue1,2 EBITDA Revenue1,2 EBITDA Services,
8.5%
Elastomers, Lighting &
Automotive Electronics,
8.6%
41.3%
• Lighting and Electronics 2,953 429 3,427 579

• Precision Metal and

8,090
Precision
1,732 271 1,923 310 Crores
Modules Metals and
Modules,
• Elastomer 683 82 711 113 23.2%

Non- Automotive (Businesses still at incubation/ growth stage)

• Technology and Industrial Non-Auto

789 (15) 953 29 Businesses, 18.5%
Solutions

• Aerospace 245 55 339 70

• Logistics Solutions 125 3 206 14

Others
• Health and Medical 13 (24) 37 (32) 15.8%
Technology &
Industrial
Services 304 (28) 494 13 Solutions
62.1%
Total 6,844 773 8,090 1,096
Aerospace
22.1%

Notes:
24
24
1. Revenue from operations
2. Divisional numbers reported are including 100% of joint ventures and associates accounted as per equity method.
Summary of divisional financial performance.
Financials
(all figures are Rs. in Crores)
FY23 FY24
Business Division
Revenue1 EBITDA EBITDA% Revenue1 EBITDA EBITDA%

Wiring Harness 26,557 2,279 8.6% 31,514 3,362 10.7%

Modules & Polymer Products 42,262 2,724 6.4% 49,912 4,305 8.6%
Vision Systems 16,569 1,711 10.3% 19,149 1,978 10.3%
Integrated Assemblies - - - 6,824 793 11.6%1
Emerging Businesses2 6,844 773 11.3% 8,090 1,096 13.5%
Less: Eliminations/Intersegment
(2,402) (127) (3,501) (398)
Sales/Unallocated
Reported including JVs/
89,830 7,359 8.2% 111,988 11,136 9.9%
(Economic Value3)
Less: JVs consolidated as per
(11,042) (965) (13,296) (1,811)
equity method4

Reported 78,788 6,394 8.1% 98,692 9,325 9.4%

Notes:
1. EBITDA margin shown here for Integrated Assembly for FY24 is on Reported basis and without factoring the customer compensation for forex losses. The normalised EBITDA margin is 8.7% as shown on slide no 22.
2. Emerging businesses include – Elastomer, Lighting and electronics, Precision Metals and Modules, along with the non-automotive business divisions of Aerospace, Health and Medical, Logistics Solutions and Technology and Industrial
Solutions and Services.
25
25 3. Divisional numbers include 100% of joint ventures and associates accounted as per the equity method (Economic Revenue)
4. Data for JVs consolidated as per equity method is net of intercompany transactions.
Bridge Gross to Reported revenue.
(all figures are Rs. in Crores)

Revenues
Q1FY24 Q2FY24 Q3FY24 Q4FY24 12MFY24 12M FY23

Gross revenue 26,909 34,611 40,698 41,550 143,767 94,570

Less:
1,569 7,741 11,510 10,959 31,779 4,740
Throughput revenue1

Economic
Revenues 25,340 26,870 29,188 30,590 111,988 89,830
(including JVs)
Less: JVs consolidated
2,878 3,343 3,544 3,532 13,296 11,042
as per equity method

Reported/
22,462 23,527 25,644 27,058 98,692 78,788
Net Revenue

Notes:
1. Integrated assembly business division perform assembly of highly customized components by procuring various parts from suppliers identified by the customers. It acts as an agent as per
26
26
IFRS 15 under these contracts and as required under the standard, it recognizes revenue only for the net amount it retains for the assembly services
Where are we in our journey towards Vision 2025.
(all figures are Rs. in Crores)
Gross Revenues
Bridge to Gross Revenue (FY24)
Proforma FY24

USD 24 +
14,000 172,267
14,500 Billion*
31,779 143,767

13,296
98,692

FY 24 JVs Throughput Gross Proforma Proforma Estimated

Reported consolidated revenue Revenue impact of impact of Gross
Net as per equity for FY24 FY24 Closed M&As M&As on Revenue
Revenues method for on Net throughput (on proforma
FY 24 Revenue revenue basis)
(Estimated) (Estimated)

27
27 *Conversion from INR to USD @ INR 70.89/USD as defined in our Vision 2025 plan
Consolidated Debt Status, Reference Rates, and Notes.

A. Net Debt. Copper Rates.

Average Q4 FY23 Q3 FY24 Q4 FY24

Rs. In
Sep-22 Dec- 22 Mar-23 Jun-23 Sep-23 Dec-23 Mar-24
Crores
LME Copper (USD / MT ) 8,930 8,169 8,444
Gross
12,671 12,968 12,166 12,546 19,228 19,186 17,351 Copper (INR / KG) 797 741 761
Debt
Exchange Rates (Average).
Cash &
4,126 4,526 4,692 4,235 5,812 6,636 6,979
Bank Currency (equal to Rs.) Q4 FY23 Q3 FY24 Q4 FY24
Net INR to EUR 88.25 89.61 90.16
8,546 8,442 7,474 8,311 13,416 12,550 10,372
Debt
INR to USD 82.25 83.26 83.04
INR to YEN 0.622 0.564 0.560
B. Lease liabilities Euro to USD 1.07 1.08 1.09
(not included in net debt table above)
Exchange Rates (Closing).
Rs. In
Sep-22 Dec-22 Mar-23 Jun-23 Sep-23 Dec-23 Mar-24
Crores Currency 31.03.2023 31.12.2023 31.03.2024

Lease Rs./Euro 89.06 91.83 90.01

1,426 1,503 1,627 1,769 2,522 2,555 2,571
liability

All numbers are on Consolidated basis as per reported financials Rs./USD 82.17 83.21 83.40
Data above is as of the end of the stated quarter.

Notes. Argentine Peso / USD 208.98 808.45 857.49

1. This presentation has been prepared from the unaudited financial results for the quarter ended on March 31st, 2024. Explanatory notes have been added with additional information
2. Revenue represents revenue from operations.
3. EBITDA is Profit / (Loss )before exceptional items + Finance cost + amortization expenses & depreciation expenses-interest income – dividend income
4. Figures of previous year have been reclassified / regrouped , wherever necessary.
5. All comparisons and growth percentages are calculated based on reported numbers and with the corresponding period of the previous financial year for continuing operations unless stated otherwise. All EBITDA margins are
28
28 computed on normalised profit levels.
6. For details, please refer to the results published on the website
 Annexure

29
29
 SAMIL Consolidated Q4FY24 vs Q4FY23.
(all figures are Rs. in Crores)

Revenues 30,00 0

27,058
EBITDA 10.1%

+ 20% 9.0% + 45%

2,999
22,517
25,00 0 3,000

266
10. 0%

2,066 8. 0%

20,00 0
2,000
35
2,733
6. 0%

27,058
2,031
4. 0%
1,000

15,00 0

2. 0%

- 0. 0%

1 2
10,00 0

Q4 FY23 Q4 FY24
Q4 FY23 Q4 FY24

PBT PAT
(before exceptional items and share of associates)
(Concern Share)

+ 51% 1,480 1,600 + 110% 1372 0. 09

1,400 0. 08

223 1,200 0. 07

977 1,000
454 0. 06

35 800 654 0. 05

0. 04

600
1,257 917 0. 03

942 400 0. 02

200 0. 01

- 0

Q4 FY23 1 Q4 FY24 3 Q4 FY231 Q4 FY24 4

Notes:
1. Q4FY23 EBITDA and PBT includes the net impact of Rs 35 crores on account of a) Rs 85.6 cr of write back of provision related to a litigation recorded in earlier periods now no longer required due to favorable judgement received, and b) Rs 50.3 cr of impairment losses in the carrying value of
the investments and provisions taken for certain loans and advances; EBITDA margin computed is excluding the net impact of one-off items. The impact of PAT is however offset due to one time impairment of investments in certain JVs which are accounted in share of income from associates
and JV
2. Q4FY24 EBITDA includes a positive impact of 266 cr contributed by a) Rs 197 Cr of contributed by customers towards forex losses and b) Rs 69 cr of forex gains
3. Q4FY24 PBT includes a positive impact Rs. 223 Cr on account of a) Rs 27 crores of gain in net monetary position in subsidiaries located in the hyperinflationary economy of Argentina b) positive impact of Rs 197 cr contributed by customers towards forex losses
30
30 4. Q4FY24 PAT includes a positive impact Rs. 454 Cr on account of a) Rs 27 crores of gain in net monetary position in subsidiaries located in the hyperinflationary economy of Argentina b) positive impact of Rs 197 cr contributed by customers towards forex losses and c) positive impact
of Rs 231 cr on account of deferred tax assets in various geographies
SAMIL Consolidated 12MFY24 vs 12MFY23. 9.2%
(all figures are Rs. in Crores)
120,0 00
118,0 00
116,0 00

EBITDA
114,0 00

Revenues
112,0 00

98,692 8.0% 9,325

110,0 00
108,0 00
106,0 00
104,0 00

+ 25% +46%
102,0 00 10. 0%
100,0 00

197
98,00 0
96,00 0
94,00 0

8,800
92,00 0
90,00 0 9. 5%

78,788
88,00 0
86,00 0
84,00 0

6,394
82,00 0
80,00 0 9. 0%
78,00 0
76,00 0
74,00 0
72,00 0

59
70,00 0
68,00 0 8. 5%
66,00 0
64,00 0
62,00 0
60,00 0
58,00 0
8. 0%

9,128
56,00 0
54,00 0
52,00 0
50,00 0
48,00 0
46,00 0 7. 5%
44,00 0

6,335
42,00 0
40,00 0
38,00 0
36,00 0
34,00 0 7. 0%
32,00 0
30,00 0
28,00 0
26,00 0
24,00 0 6. 5%
22,00 0
20,00 0
18,00 0
16,00 0

800
14,00 0
12,00 0 6. 0%
10,00 0

1
12M FY23 12M FY24 12M FY23 12M FY244

PBT PAT
(before exceptional items and share of associates) (Concern Share) 3,500
0. 09

2,716
3,852
0. 08
3,000

+ 51% +82% 16 0. 07

33
2,500

2,548
0. 06

2,000

1,590 0. 05

59 1,500 94 0. 04

2,701
3,819 0. 03

2,489
1,000

1,496 0. 02

500

0. 01

- 0
2 5
12M FY23 12M FY24 3
Notes: 12M FY23 12M FY24 6

1. Please refer to note 1 on slide 9

2. FY23 PBT includes net impact of Rs 59 crores on account of (a) Income of ~Rs 46.4 crores (Euro 5.7 Mn) received on account of insurance claims for the production stoppage due to flood in Durban plant in Q1FY23 (b) Rs 86 crores on account of write back of provision related to a litigation
recorded in earlier periods now no longer required due to favorable judgement received, (c) Rs 73 Cr of impairment on certain investments
3. Please refer to note 2 on slide 9
4. Please refer to note 3 on slide 9
5. FY24 PBT includes a positive impact Rs. 33 Cr on account of a) Rs 293 crores of loss in net monetary position in subsidiaries located in the hyperinflationary economy of Argentina b) positive impact of reversal of impairment and restructuring cost in respect to one subsidiary in Brazil
31
31
amounting to Rs. 130 crores and c) positive impact of Rs 197 Cr contributed by customers towards forex losses
6. Please refer to note 4 on slide 9
 SAMIL Standalone.
(all figures are Rs. in Crores)

Q4FY24
Revenues EBITDA.
2,214 + 7% 2,366 + 15%
11.4%
330
10.6% 269
234
20. 0%
280

230
15. 0%

180

10. 0%
130

80

5. 0%

30

(20) 0. 0%

Q4 FY23 Q4 FY24 Q4 FY23 Q4 FY24

12MFY24
+ 13% EBITDA. + 29%
10,000
Revenues 9,046 13.1%
9,000 7,973 11.6% 1,186
8,000 1,200

921
7,000
15. 0%

1,000

6,000
13. 0%
800

5,000
11. 0%
600

4,000
9. 0%
400

3,000
7. 0%
200

2,000 12M FY23 12M FY24

-

12M FY23 12M FY24

5. 0%

32
32
Acquisition History.
Integrated 43 acquisitions since 2002
bringing a wide range of solutions to our customers. 2021 - 2024
32 Fritzmeier Motherson 40 AD Industries
24 Plast Met
Cabin Engineering Pvt Ltd France
Turkey (Aerospace and
(Plastic moulded parts India (Cabins for off-
highway vehicles) Medical - Metallic &
& tooling) composite products)
2016 - 2020 2021 2023
2023

25 Bombardier (EWIS) 41 Samvardhana Motherson

33 Bolta
Adsys Tech Ltd.
2011 - 2015 17 Abraham and Co Ltd Mexico USA (Chrome plated
(Wiring Harness Unit) polymer parts) India (Electric Wiring &
Hungary 2021 Interconnect Systems (EWIS))
(Plastic moulding 2023
2023
automotive business)
10 Peguform Germany 2016
(Interior & exterior 26 Nanchang JMCG Mekra 34 YMAT 42 Lumen Group
polymer modules) Australia
2011 Lang Vehicle Mirror Co., India (Clutch assembly
Ltd. (JMCG) for HVAC) (OEM certified automotive
18 Kobek Siebdruck China (Rear View Mirrors) 2023 parts, accessories and
GmbH & Co. KG 2021 dealer fitted products)
Germany 2023
11 Vacuform 2000 (Illumination solutions)
South Africa 2017 35 Yachiyo 4W 43 Deltacarb SA
(Thermoformed Japan (Sunroof and Switzerland
polyethylene & blow 27 CIM Tools Pvt. Ltd.
plastic fuel tanks) (Tugsten carbide-based
moulded components) India (Aerospace) 2023 products)
2011 2021
19 PKC Group 2023
2006 - 2010 12 Sintermetal SA
Finland
(Wiring Harnesses)
Spain 2017 36 Prysm Systems
(Powder metal parts) USA
2012 28 Frame Manufacturing (Large format touch-
05 Huon Corporation
2000 - 2005 and Assembly Business of enabled display screens)
Australia 20 MS Global India Pvt. Ltd DICV Pvt Ltd. 2023
(Door trim business)
2006 India India
13 Scherer & Trier (Sheet Metal Parts) 2022
01 Wexford Germany 2017
(Extruded plastic
Ireland parts)
(Electronics (Wiring harness) 06 ASL Systems 37 Rollon Hydraulics
2002 (Wiring harness) 2014 Private Limited
29 Ichikoh
United Kingdom 21 Reydel India
Japan (Turned parts, spools, & other
2006 (Rear view mirror)
Netherlands
14 Minda Schenk (Interior polymer business machined components)
02 Reiner Precision 2023
Germany modules) 2022
Germany 07 Empire Rubber
(Plastic moulding) 2018
(Machined metal components) Australia 2014
2005 (Rubber moulding business)
2007 30 Saddles 38 Dr Schneider Group
India Germany
22 Bombardier (automotive upholstery (Smart surfaces and
15 Stoneridge Inc. United Kingdom business) lighting modules)
03 G&S Kunststofftechnik
08 Dagger Frost Tools USA (Wiring harness unit) 2023 2023
Germany 2019
(Plastic injection moulding) India (Wiring Harness Unit)
2005 (Gear cutting tools) 2014
2009
39 Irillic Pvt. Ltd.
23 Wisetime Ltd. 31 SAS India
04 F.P. Formagrau
09 Visiocorp Autosystemtechnik* GmbH (Fluorescence and 4K
Czech Republic 16 Magneti Marelli Shock Finland
UK (ERP Systems) Germany (Module Laparoscopy Imaging)
(Plastic injection moulding) (Rear View Mirrors) Absorbers Pvt. Ltd. Assembly)
2005 India 2020 2023
2009 2023
2014

33
33
Note: Samvardhana Motherson Automotive Systems Group BV (“SMRPBV”), a step-down subsidiary of SAMIL, through one of its European subsidiaries, had announced to acquire a 100% stake in CIRMA ENTREPRISE, a French société par actions simplifiée, from Vinci Energies. The aforesaid acquisition was subject to the satisfactory
completion of conditions precedent(s). Since the closing conditions were not satisfied within the expected timelines, the parties agreed to mutually terminate this transaction and hence is not appearing in the list of acquisitions above
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