Samvardhana Motherson International 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

November 12, 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.: Unaudited Financial Results for the second quarter and half year ended
September 30, 2024

Dear Sir(s) / Madam(s),

The Board of Directors of the Company in its meeting held on Tuesday, November 12, 2024
inter-alia, have discussed and approved Unaudited Standalone and Consolidated Financial Results
of the Company for the second quarter and half year ended September 30, 2024.

Pursuant to Regulation 33 and Regulation 52 of SEBI (Listing Obligations and Disclosure

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

1. Unaudited Standalone and Consolidated Financial Results for the second quarter and half year
ended September 30, 2024;

2. Limited Review Reports on the Standalone and Consolidated Financial Results for the second
quarter and half year ended September 30, 2024;

3. Presentation on the performance of the Company for the second quarter and half year ended
September 30, 2024; and

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

The Board Meeting of the Company commenced at 1200 Hours (IST) and concluded at 1440
Hours (IST).

The results will be uploaded on Company’s website www.motherson.com in compliance with

Regulation 46(2)(I)(ii) and Regulation 62(1)(b)(ii) of SEBI LODR and will be published in the
newspapers in terms of Regulation 47(1)(b) and Regulation 52(8) of SEBI LODR.

The above is for your information and records.

Thanking you,

Yours truly,
For Samvardhana Motherson International Limited
Digitally signed by

ALOK GOEL ALOK GOEL

Date: 2024.11.12
14:55:11 +05'30'

Alok Goel
Company Secretary

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]
 Samvardhana
Motherson
International
Limited.
Presentation on
Q2 FY 2024-25 Results

11
Key Highlights 01/02.

Resilient performance in volatile environment...

Performance at a glance.

Q2FY25 vs Q2FY24. H1FY25 vs H1FY24.

Revenue1 Revenue1
Rs 27,812 crores, 18% Rs 56,680 crores, 23%

Normalised2 EBITDA Normalised2 EBITDA

Rs 2,463 crores, Rs 5,248 crores, 33%
23%

Normalised2 PAT Normalised2 PAT

(Concern Share) (Concern Share)
66%
Rs 747 crores, 66% Rs 1,741 crores,

Not es :
1. R ev enue from op erations
2. Normalised EB ITDA refers to report ed EB ITDA less one-time fair v aluat ion gain of INR 178 crores (included in ot her income) on account of a cquisition of controlling interest in one of the joint venture entity of SAMIL i.e. Motherson Auto Solutions Lim it ed in Q 2 FY 25. The
22 post tax imp act the same is INR 133 crores and is being reduced from reported PAT (concern share) t o arrive at Normalised PA T
Key Highlights 02/02
Continued focus on improving operational efficiencies,
diversification and deleveraging.
01. 03. 05. 07.
Revenue of Organic Automotive booked Improved ROCE to 17.3% Recalibrating capex;
business grew ~4-5% business of USD 87.7 in Sep from 16.9% in March guidance reduced to Rs
over the market billion. Share of EVs 2024 despite subdued 5,000 Crore (+/- 5%) despite
~24% auto-production volumes addition of acquired businesses
and consequently inflated
working capital

02. 04. 06. 08.

Further diversification 05 out of 19 Leverage ratio reduced Successfully raised Rs
achieved with new Greenfields have come to1.0x in Sep from 1.5x 6,438 crores via QIP
products and increased on stream in June 2024, providing (equity + CCD1) with
customer penetration 8 more facilities a launchpad for future overwhelming investor
for certain customers expected to operationalise sustainable growth demand and support
in H2FY25.
Not es :
1. CCD refers to Compulsorily C onvert ible Deb ent ures. A s a part of Qualified Inst it utional Placem ent ( QIP) concluded in Sept em be r 2024, CCDs with a coupon of 6.5% P .A were issued for INR 1,500 C r. These will be mandatorily convert ed t o equity by Septem ber 2027 if
33 not convert ed before (conv ersion option from Septemb er 2026 and t ill September 2027 with the CC D holders). The conv ersion pri ce will be a 13.83% discount to the then m arket price subject t o a floor price of the 190 (price at w hich eq uit y w as issued in t he QIP ).
 Macroeconomic
indicators and
Automotive
industry Outlook.
Mixed macro indicators with visible
uptick in commodities and energy
prices.
Regional challenges impacting
automotive production, however
the platform mix continues to
improve

44
 Mixed macro indicators - stable inflation and interest rates
while volatility in commodities, energy and logistics
EU, USA & India Inflation1 EU, USA & India Interest rates1 World Container Index
(in %) (in %) (USD 1)
12. 0

10. 0
9.3
6.5% 6.5%
7.0%

5.9%
8.3
8.0 6.0%

5.4% 5.0%
6.4 5.0%

6.0
7.0 4.25 4.0%
3.1%
4.9 4.3% 4,014 3,691
4.0 3.0%

3.6%
3.5 2.6 2.0%

2.0 0.8% 1,404

2.2 1.0%
1313
0.0%
0.0

Q2FY23 Q2FY24 Q2FY25 Q2FY23 Q2FY24 Q2FY25

Q2FY23 Q2FY24 Q2FY25

Copper & Aluminium Energy prices for Germany

USD / Metri c Tonne 2 (in Euro / MWh 2)
Oct 2024
Copper Aluminium 368
Commodity and 40 0
Oct 2024
14 5

9,539
Energy prices on
35 0
12 5

9,210 30 0

6,043 8,356
7,745 an upward
10 5

25 0

85

trajectory ~100
20 0

65

2,596
15 0
93 87
2,354 2,160 2,382 32
10 0
45

1,807 50 25

- 5
Q2FY23 Q2FY24 Q2FY25
Q2FY23 Q2FY24 Q2FY25
Stable Witnessing volatility Indicates pre-covid level
Sources : Bloomberg
5555
1. All the data points are average for the closing numbers for each month in the quarter 2. Based on average of spot rates o
f r the quarter
 Subdued automotive production,
though platform mix continues to improve .
Data represents automotive production volumes on YoY basis
Europe. North America.
Global. Light Vehicles Commercial Vehicles Light Vehicles Commercial Vehicles
Light Vehicles Commercial Vehicles
• Lower than anticipated demand for EV platforms
• Delayed new vehicle launches
• Realignment to Emission Standards

-5%

-7% -6%

-11%
-6% -15%
Production Volumes.
Globa l Light Vehicles India. China.
(No s are in millio n)
24.2
Light Vehicles Commercial Vehicles Light Vehicles Commercial Vehicles
22.6 22.2
22.3
21.4 21.4
• Deaccelerating growth of EVs
• Shift of market share from international to
Q1 FY24 Q2 FY24 Q3 FY24 Q4 FY24 Q1 FY25 Q2 FY25 domestic OEMs
Globa l Com mercial Vehicles
(No s are in thou sand) 0%
892 863
857 815 858
769
-4% -3%

Q1 FY24 Q2FY2 4 Q3FY2 4 Q4FY2 4 Q1FY2 5 Q2FY2 5

Note. Yo Y r epresen ts compari son between Q2FY25 v s Q2FY24

-9%
66
Source: Ligh t Vehicles: S&P Global Mobility; Light Vehi cle Engine Ty pe Prod uction Forecast September 2024 / Commercial Vehicles: Glob al Data; Commer cial Vehicle Producti on Forecast Octob er 2024
SAMIL’s diversified business model and
reactive strategy enables resilience and strong execution.
Near to Mid Term Variables SAMIL’s unique position while
impacting automotive industry navigating through dynamic business environment

Highly diversified
Regional fluctuations business model to
in vehicle production mitigate regional
volatilities Strong Balance
(3CX10 Strategy) Sheet to support
Evolving customer growth opportunities
strategies for the shift
to clean mobility More than 95%
power-train
agnostic product
Geopolitical portfolio Large automotive
challenges impacting booked business
supply chains providing future
visibility and
Strong customer demonstrating
Volatility in relationships strong customer
commodity and enabling pain trust
energy prices sharing
77
 SAMIL’s
Performance
for Q2FY2025.
Revenue growth contributed by
M&As and growth over market of
organic business

Operational efficiencies enabled

resilient performance, against a
volatile industry backdrop.

88
 Resilient performance in the quarter,
amidst subdued production volumes.
(all figures are Rs. in Crores)
Consolidated Financial Performance Q2FY25 vs Q2FY24 (YoY basis)

Revenue1 Normalised EBITDA4 Normalised PAT4 (Concern Share)

30 ,0 00
+ 18% + 23% + 66%
28 ,0 00
27,812 2.7%
One time provision
26 ,0 00
3,000 8.9% 14 .0%

for footprint 880

24 ,0 00 23,527 2,641 13 .0%
90 0
rationalisation
178 12 .0%
80 0
133
22 ,0 00
8.5%
1.9%
70 0

11 .0%
20 ,0 00

2,001 60 0

18 ,0 00
10 .0%
50 0
4513
2
2 2
2,463
40 0

747
16 ,0 00 9.0 %

14 ,0 00 8.0 %
30 0 249
20 0

12 ,0 00

202
7.0 %

10 0

10 ,0 00
1,000 6.0 %
-

Q2 FY24 Q2 FY25 Q2 FY24 Q2 FY25 Q2 FY24 Q2 FY25

• Revenues from acquired assets of Rs 6,199 crores in Q2FY25 vs Rs 1,851 crores in Q2FY24.
• Despite industry degrowth YoY, organic business was resilient, implying ~4-5% growth over market.

• Normalised EBITDA has EBITDA from acquired assets of Rs 588 crores in Q2FY25 vs Rs180 crores in Q2FY24.
• Maintained profitability of organic business with focused operational measures despite fluctuations in vehicle production
• Continuous engagement with customers for pain sharing
Not es :
1. R ev enue from op erations
2. For Q2 FY 25, Normalised EB ITDA refers to report ed EB ITDA less one-time fair v aluat ion gain of INR 178 crores (included in ot her income) on account of a cquisition of controlling interest in one of the joint venture entity of SAMIL i.e. Motherson Auto Solutions Lim it ed in Q 2
FY25. The post tax impact the same is INR 133 crores and is being reduced from report ed PA T (concern share) to arrive at Normalised PA T
99 3. For Q2 FY 24, Normalised PA T is w it hout fact oring in the excep tional expenses provision of R s. 249 crores in respect of phased operational realignment of certain autom otive capacities located in Europ e
4. EB ITDA and P AT margins are com puted on Normalised figures. The growth percentages for EBITDA and PA T are comp uted on normalised figures
Consistent improvements in ROCE
Despite subdued automotive production and consequently inflated working capital

Continued focus on
Reported ROCE improving ROCE via…
17.3%
16.9%
17 .0%

15 .0%

Focus on
13 .0%
improving
1
10.8% underperforming
11 .0%
units in volatile
environment
9.0 %

6.9%
6.2% 7.0 %

0 5.0 %

FY21 FY22 FY23 FY24 H1FY25 Larger size and

scale leading to
better operating
leverage and
operating
efficiencies

Not es :
• R ep orted RO CE is earnings b ef ore interest and t ax (EB IT) from cont inuing operat ions divided by average capit al employed.
• Capital em ployed is adjust ed for impact of fair v aluation and intangible assets creat ed due to group w ide reorganization comp leted in
March 31, 2022, and capital work in progress and int angible assets under development .
• LTM EBIT considered for H1FY25

10
10
 Significant
deleveraging
of the balance
sheet.
Strengthened balance sheet
for future growth

Further deleveraging is expected

upon the normalisation of
inflated working capital.

11
11
 Achieved significant deleveraging;
1x Net Debt to EBITDA.

Financial 2.8

Strong balance
Leverage Ratio1,2 Policy 2.5x
sheet, Prepared
25 ,0 00

2.0 1.9
2.3

to capture growth
1.8 1.7 opportunities
1.4 1.4 1.5
1.4
20 ,0 00 1.8

15 ,0 00 1.3

Out of Rs 6,438 Cr raised (equity +

CCD), ~6,000 cr was utilised till
10 ,0 00 0.8

1.0 12th November 2024 for repayment of

5,00 0 0.3
debt and general corporate purposes.

Remaining proceeds to be used to pay

0 (0.2)
down debt as per upcoming maturities
Sep-22 Dec-22 Mar-23 Jun-23 Sep-23 Dec-23 Mar-24 Jun-24 Sep-24
Not es :
1. Leverage rat io = (Ef fect iv e Net Debt + Lease Liability ) / LTM EBITDA. Please refer to S lide 29 for definition of Effective net debt. CCD related debt has not b een considered as it is a
mandat orily conv ertible inst rum ent w it hout any actual pay out of this debt , except for the cont racted coupon rate
12
12 2. For less t han 1 y ear old acquired assets, LTM EBITDA is considered for a like for like com parison for all the quart ers st arti ng Sept em ber 2023 t ill S ep tember 2024
Working capital normalisation to aid further deleveraging

Inventory Days1 Volatility

(on sales) in production
60 57 schedules
at OEMs and
55 supply chain
disruptions
50
44
45

40 37 36
35 35 35 35 35
33 33 33 32
35
30 31 31 31
28 29 28 29
30 26
25

20
Q1 FY20 Q2 FY20 Q3 FY20 Q4 FY20 Q1 FY21 Q2 FY21 Q3 FY21 Q4 FY21 Q1 FY22 Q2 FY22 Q3 FY22 Q4 FY22 Q1 FY23 Q2 FY23 Q3 FY23 Q4 FY23 Q1 FY24 Q2 FY24 Q3FY24 Q4FY24 Q1FY25 Q2FY25

FY20 FY21 FY22 FY23 FY24 H1FY25

Not es:
13
13 1. Calculated based on av erage of closing and opening inventory for each quart er and annualised sales for t he rep orted period
Calibrated
Capex spend.

Expenditure in alignment with

evolving dynamics of new
launches and strategies of our
customers.

05 green fields out of 19

announced earlier have
commenced production

14
14
Pragmatic phasing of Capex in alignment with market.

Capex Total Capex of Recalibrate;

(Rs in Crores) Rs. 2,024 crores Capex to stay aligned
1,80 0
65% during H1FY25 70 % with the market
1,60 0
conditions
52%
60 %

1,296 39%
1,231
1,40 0

36% 50 %

40% 1,078
1,20 0

37% 36% 24% 946 40 %

32%
1,00 0

80 0
733 767 716
619
30 %

60 0
475 20 %
Reducing Capex
guidance to Rs.
40 0

5,000 Crs
10 %

20 0

- 0%
(+/- 5%) despite
Q2FY23 Q3FY23 Q4FY23 Q1FY24 Q2FY24 Q3FY24 Q4FY24 Q1FY25 Q2FY25 additions of Yachiyo,
Capex / EBITDA Ratio ADI and Lumen

15
15
05 out of 19 Greenfields announced are onstream with SOPs achieved.
Rest at various stages of completion,

Operationalized (5) At various stages of completion (14)

Business Division No Expected SOP

Business Division No SOP
Wiring Harness 02 Q1FY26 / Q3FY26
Wiring Harness 01 Q2FY25 India
Lighting and Electronics 02 Q4FY25/Q1FY27
Modules and Polymer Products 01 Q1FY25 09
Precision Metal and Modules 02 Q3FY25/ Q3FY25
Lighting and Electronics 01 Q3FY25
Technology and Industrial Solutions 01 Q4FY26
Health and Medical 01 Q2FY25
Aerospace 02 Q4FY25 / Q4FY25

China
Wiring Harness 01 Q2FY26
Modules and Polymer Products 01 Q1FY25 03 Integrated Assemblies 02 Q4FY25 / Q4FY25

Poland Mo dules and Polymer Pr oducts 01 Q1FY27

8 facilities out of
balance 14 are 01
expected to come
onstream in Mexico
Integrated Assemblies 01 Q4FY25
H2 FY 2025 01

Notes:
16
16
Change in SOP date compared to what was announced earlier due to change in customer production schedules
 Building a more
diversified
business based on
customers’ trust.
Improved diversification with new
products and increased customer
penetration

Strong automotive business.

17
17
Enhanced Diversification across all 3 Cs.

Component wise. Customer wise. Country wise.

(top 20 customers)
Merce des Benz 10% India 20%
Wiring Harness 26%
Volkswagen 9% USA 20%
Vision Systems 15% Audi 8% Germany 17%
BMW 6%
Engineering* 13% China 11%
Maruti Suzuki 5%
Spain 7%
Bumpers* 11%
Honda Cars 5%
Hungary 5%
Porsche 4%
Integrated France 4%
8% Stellantis 4%
Assembly
American EV OEM 3% Poland 4%
Door Panels* 8%
Daim le r Truc ks 3% Mexico 4% Emerging
Instrument Panel* 5% Hyundai 3% Brazil 2% markets1
Ford 3% South Korea 2% account for
Sunroof and fuel
tank*
5% Paccar 2% Top 20 ~50%
Japan 2%
Other Polymer Renault 2% customers
4% account for South Africa 1%
products* Volvo Car 2%
~75 % UK 1%
Others 5% Mahindra 2%
Tata Motors 1% Australia 1%
Scania 1% Others
John Deere 1%
Seat 1%
1Emerging markets defined as Brazil, China, India, Mexico Thailand,
Not e: South Korea, South Africa, Czech Republic, Hungary, UAE, Turkey,
1.Total revenue considered is Revenue from operations (gross) which includes revenue from operations,100% of revenue from joint ventures and associates which are account ed as per the equity met hod.
Philippines, Indonesia, Poland as per MSCI Emerging Markets Index
18
18 2. Revenue by count ry is based on manufacturing locations except in certain cases of job works locations like Mexico and India.
* Under Modules and Polymer Products business division
 Strong visibility of automotive revenues.

87.7 24%
billion USD
from EV.
83.9
billion USD
Large part of
automotive
booked
77.3 business
billion USD
expected to be
realized over
5-6 years

30-Sep-23 31-Mar-24 30-Sep-24

Not e:
• Booked business for aut omotive businesses is based on Revenues from operations (gross) (excluding Technology and Industrial Solutions, Aerospace, Logistics Solutions and Health and Medical business divisions)
• Volume assumptions for sales planning activities are based on internal assessment which considers various sources (including OEMproduct ion forecasts, views of external market consultants, internal knowledge and insights).
• Booked business is computed as sum of the lifetime sales of business under production and business yet to st art production
19
19
 Divisional
Performance.

20
20
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

21
21
 Business Division Wise Financial Performance 1 : Q2FY25 vs Q2FY24.
(all figures are Rs. in Crores)

Wiring Modules and Vision Integrated Emerging

Harness. Polymer Products. Systems. Assemblies. Businesses.
Revenues Revenues Revenues Revenues Revenues
+ 4% +27% + 3% + 43%
14,640 2,905
6,00 0

8,111
5,50 0
4,807
11,491 5,00 0
4,689
7,791 4,50 0 2,026
4,00 0

3,50 0 3, 000 2,528

3,00 0

2,50 0
2, 000

2,00 0
1, 000
1,50 0

1,00 0
1,00 0 1,00 0 -

Q2 FY24 Q2 FY25 Q2 FY24 Q2 FY25 Q2 FY24 Q2 FY25 Q2 FY25 Q2 FY24 Q2 FY25

EBITDA EBITDA EBITDA EBITDA 80 0

EBITDA 18 .0%

11.2% +35% 7.4% 70 0

16 .0%

10.6% 13.3%
7.1% 1,00 0
9.2% 9.2% 18 .0%
11.9% 60 0
14 .0%

1,20 0
+ 10% 18 .0% 90 0
+3% 16 .0%
12.4% + 54% 12 .0%

1,00 0
826
908 16 .0%

14 .0%
1,50 0

1,30 0 1,090
18 .0%

16 .0%
80 0
14 .0%
50 0

387 10 .0%

70 0

815 14 .0% 40 0
1,10 0 12 .0%
80 0 12 .0% 8.0 %

10 .0%
90 0
12 .0%

10 .0%
60 0

50 0
430 444 10 .0%
40 0 301 30180.0%
16 .0% 251
-
60 0 35 0 6.0 %
70 0 8.0 %
8.0 % 30 0 14 .0%
8.0 % 40 0
25 0 20120.0%
50 0 6.0 % 4.0 %
40 0 6.0 % 10 .0%
6.0 % 30 0 20 0
8.0 %
30 0 15 0
4.0 % 4.0 % 4.0 % 6.0 %
20 0 10 0
20 0 10 0 2.0 %
4.0 %
2.0 % 10 0 2.0 % 2.0 % 50 2.0 %
10 0
- 0.0 %
- 0.0 % (10 0) 0.0 % 0 0.0 %
- 0.0 %

Q2 FY24 Q2 FY25 Q2 FY24 Q2 FY25 Q2 FY25 Q2 FY24 Q2 FY25

Q2 FY24 Q2 FY25
Notes:
1. Divisional numbers reported are including 100% of joint ventures and associates which are accounted as per equity method (Economic Revenue)
22
22
2. Q2 FY24 had integrated assemblies business division for only 2 months and hence not shown in comparison above as it not a like for like comparison
Key Divisional Highlights 01/03.

Wiring Harness. Modules and Polymers. Vision Systems. Integrated Assemblies.

✓ Revenue growth (on YoY basis) despite ✓ YoY Revenue growth mainly contributed by ✓ Revenue growth (on YoY basis) on account ✓ YoY nos are not comparable as Q2 FY24 had
softening of CV production volumes in of China and South Asia partially offset only 2 months of operations
✓ full impact of acquisitions (Dr. Schneider with lower volumes in North America
North America, Europe and China and Yachiyo)
✓ Organic business flat as volumes de- ✓ Multiple avenues of efficient collaborations
✓ Strong operational performance driven by growth across key geographies was ✓ Maintained profitability despite changing with diverse Motherson Business Divisions
cost control actions offset by higher engineering sales geographical mix on back of strong is in advanced stages, to fructify in the
operational controls coming months

✓ Improved profitability in a seasonally weak

quarter despite
➢ Project ramp-up and launch related
cost over-runs in Europe

23
23
✓ Indicates Positives for SAMIL ➢ Indicates Negatives for SAMIL
Key Divisional Highlights 02/03.
(all figures are Rs. in Crores)
Evolution of Non-Automotive businesses .

Revenue by Segment Q2FY25 (Rs. Crores) Growth in Non-Automotive Revenues (Rs. Crores)

Emerging businesses.
2.1x 763
665
474
Automotive 357 352
+ Services
2,142
Rs.
2,905 Q2FY24 Q3FY24 Q4FY24 Q1FY25 Q2FY25
Crores
Well proven playbook - Customer Guided. Start in the country
of strength. Go Global and follow the 3CX10 strategy.

Non
Automotive Consumer Strong
Electronics
763 Already
business
growth in
at annual run rate
of Rs. ~3,000 cr+ yet to Non-Auto
Notes:
ramp-up platform
• Divisional numbers reported include 100% of joint ventures and associates
which are accounted as per the equity method (Economic Revenue)
• Non-Automotive numbers include Aerospace, logistics, health and medical and
24
24 Technology and Industrial Solution divisions numbers
Key Divisional Highlights 03/03.
Non-Automotive businesses.

Technology and Industrial Solutions. Logistic Solutions. Health & Medical.

✓ Setting up a Global capability Centre in ✓ New JV in Japan formed with ✓ Health and Medical facility ✓ Successful launch India’s first
Hyderabad, India with plan for 300+ FTE existing partner Hamakyorex operationalized, ramp-up to true 4K NIR Laparoscopic
✓ Continued strong focus on Digital and ✓ Focus on core logistic services follow Imaging System for minimally
Artificial Intelligence (AI) initiatives such as 3PL, EXIM, Packaging Invasive Surgeries
and warehousing to various
industries in Japan
✓ Internal synergies being realized
Photograph will with consolidation efforts
come on 11 th across regions.
Nov

✓ Proprietary developed Management System (DCDMS) sees

Aerospace. uptake by pedigree customers.
Consumer Electronics.
✓ Integration of AD Industries on track
✓ 1st batch of products delivered in
early November. ✓ Footprint now across 4 countries
with 16 facilities and a mix of best
✓ Mass production to start in 2nd half of
cost and near shore presence
November.
25
25
 Motherson Health and
Medical launched
next-generation of
retimer
an ergonomic wearable
device for aligning sleep
and circadian rhythm
To know more,
visit : www.re-timer.com

26
26
Summary of divisional financial performance.
(all figures are Rs. in Crores)

(all figures are Rs. in Crores) FY24 Q2FY24 Q2 FY25

Business Division
Revenue EBITDA EBITDA% Revenue EBITDA EBITDA% Revenue EBITDA EBITDA%

Wiring Harness 31,514 3,362 10.7% 7,791 826 10.6% 8,111 908 11.2%

Modules & Polymer

49,912 4,305 8.6% 11,491 815 7.1% 14,640 1,090 7.4%
Products
Vision Systems 19,149 1,978 10.3% 4,689 430 9.2% 4,807 444 9.2%
Integrated Assemblies 6,824 793 11.6% 1,651 165 10.0% 2,528 301 11.9%
Emerging Businesses2 8,090 1,096 13.5% 2,026 251 12.4% 2,905 387 13.3%
Less:
Eliminations/Intersegment (3,501) (398) (778) (51) (1,207) 185 1
Sales/Unallocated
Reported including JVs/
111,988 11,136 9.9% 26,870 2,436 9.1% 31,784 3,315 10.4%
(Economic Value3)
Less: JVs consolidated as
(13,296) (1,811) (3,343) (435) (3,972) (674)
per equity method 4

Reported 98,692 9,325 9.4% 23,527 2,001 8.5% 27,812 2,641 8.91%
Notes:
1. One-time fair v aluat ion gain of INR 178 crores (Included in Other Income) on account of acquisition of controlling interest in one of the joint venture entity of SAMIL i.e. Mot herson Aut o Solut ions Limited in Q2 FY25 is ad ded in eliminations/int ersegmen t sales /
unallocat ed . EB ITDA margin report ed for SA MIL consolid at ed business is without factoring this income
2. Emerging businesses include – Elast omer, Lighting and elect ronics, Precision Met als and Modules, S ervices, along w it h the non-autom otive b usiness divisions of Aerospace, Health and Medical, Logistics Solutions and Technology and Industrial Solut ions.
3. Divisional numb ers include 100% of joint v entures and associates which are accounted as per t he equity method (Economic R even ue)
27
27
4. Data for JV s consolid at ed as per equity method is net of intercom pany t ransact ions.
Bridge - Gross to Reported revenue.
(all figures are Rs. in Crores)

FY2023-24 FY 2024-25
12M H1 H1

Gross revenue 143,767 61,519 88,747

Less:
Throughput revenue1
31,779 9,310 24,567

Economic Revenues 111,988 52,210 64,180

(including JVs)
Less: JVs consolidated as per equity
method
13,296 6,220 7,500

Reported/ Net Revenue 98,692 45,990 56,680

Not e:
1. Som e business divisions such as Integrated assembly perform assembly of highly cu stom ized comp onent s by procuring various p arts from sup pliers identified by t he cust omers. It acts as an
agent as per IndAS15 under these contract s and as req uired under the standard, it recognizes revenue only for t he net amount it ret ains f or the assembly services

28
28
 Consolidated Debt Status, Reference Rates, and Notes.

A. Net Debt including Lease liabilities .

Copper Rates.

Average Q2 FY24 Q1 FY25 Q2 FY25

Rs. In
Sep-22 Dec- 22 Mar-23 Jun-23 Sep-23 Dec-23 Mar-24 Jun-24 Sep-24
Crores
LME Copper (USD / MT ) 8,356 9,751 9,207
Gross
12,671 12,968 12,166 12,546 19,228 19,186 17,351 20,114 22,819*
Copper (INR / KG) 754 880 835
Deb t

Exchange Rates (Average).

Cash &
4,126 4,526 4,692 4,235 5,812 6,636 6,979 6,744 12,323
Bank Q2 FY24 Q1 FY25 Q2 FY25
Currency (equal to Rs.)
Net Debt 8,546 8,442 7,474 8,311 13,416 12,550 10,372 13,370 10,496 INR to EUR 89.92 89.80 92.03

Add Lease
INR to USD 82.67 83.42 83.77
1,426 1,503 1,627 1,769 2,522 2,555 2,571 2,649 2,598
liability INR to YEN 0.572 0.535 0.563
Less
1,500
Euro to USD 1.09 1.08 1.10
CCD
Exchange Rates (Closing).
Effective
9,972 9,945 9,101 10,080 15,938 15,105 12,943 16,019 11,594
Net Debt Currency 30.09.2023 30.06.2024 30.09.2024

*Increased due to higher working capital requirements and 1,500 cr of CCD issued during the quarter classified Rs./Euro 87.77 89.33 93.29
as debt as per accounting standards.
Rs./USD 83.04 83.38 83.79
All number s are on Consolidated basis as per repo rte d finan cials
Data a bove is as of th e e nd of the stated quar ter .
Argentine Peso / USD 350.00 911.00 968.50
Notes .
1. This presentation has been prepared from the unaudited financial results for the quart er ended on Sep 30th, 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 + amortizat ion expenses & depreciation expenses-interest income – dividend income
4. Figures of previous year have been reclassified / regrouped , wherever necessary.
5. All comparisons and growt h percentages are calculated based on reported numbers and with t he corresponding period of the previous financial year for continuing operations unless st ated ot herwise. All EBITDA margins are computed on normalised profit levels.
29
29 6. For details, please refer to t he results published on the websit e
 Annexure

30
30
 SAMIL Consolidated Q2FY25 vs Q2FY24.
(all figures are Rs. in Crores)

3,000 8.9% 14 .0%

Revenues1 30 ,0 00
27,812 Normalised EBITDA4 2,641 13 .0%

+ 18% 8.5% 178 12 .0%

25 ,0 00
23,527 + 23% 11 .0%

2,001 10 .0%

20 ,0 00
2

27,812 2,463 9.0 %

8.0 %

15 ,0 00
7.0 %

1,000 6.0 %

10 ,0 00
Q2 FY24 Q2 FY25
Q2 FY24 Q2 FY25
Normalised PBT Normalised PAT4 2.7%
(before exceptional items and share of associates) (Concern Share) 880
90 0

80 0
133
1.9%
70 0

One time 60 0

provision for 3 + 66%

+ 25% 1,058 footprint
50 0
451
2
699 rationalization
40 0

178 30 0 249 747

2
880 20 0

10 0
202
-

Q2 FY24 Q2 FY25 Q2 FY24 Q2 FY25

Not es :
1. R ev enue from op erations
2. For Q2 FY 25, Normalised EB ITDA refers to report ed EB ITDA less one-time fair v aluat ion gain of INR 178 crores (included in ot her income) on account of a cquisition of controlling interest in one of the joint venture entity of SAMIL i.e. Motherson Auto Solutions Lim it ed in
Q2 FY25. The p ost tax im pact t he sam e is INR 133 crores and is being reduced from rep orted PA T (concern share) to arrive at Normalised PA T
31
31 3. For Q2 FY 24, Normalised PA T is w it hout fact oring in the excep tional expenses provision of R s. 249 crores in respect of phased operational realignment of certain autom otive capacities located in Europ e
4. EB ITDA and P AT margins are com puted on Normalised figures. The growth percentages for EBITDA, P BT and PAT are comput ed on normalised figures
 SAMIL Consolidated H1FY25 vs H1FY24.
(all figures are Rs. in Crores)

Revenues1 70 ,0 00 Normalised EBITDA4 9.3%

56,680
65 ,0 00

60 ,0 00
8.6% + 33% 5,426
55 ,0 00 + 23% 6,00 0

45,990 178 2
10 .0%

50 ,0 00

45 ,0 00
5,00 0

3,941 8.0 %
4,00 0

40 ,0 00
6.0 %
3,00 0
35 ,0 00

30 ,0 00
56,680 2,00 0
5,248 4.0 %

25 ,0 00

1,00 0 2.0 %

20 ,0 00

15 ,0 00 - 0.0 %

H1 FY24 H1 FY25
10 ,0 00

H1 FY24 H1 FY25
Normalised PBT Normalised PAT4 3.1%
(before exceptional items and share of associates) (Concern Share)
2,00 0
1,874 0.1 2

2,395 1,80 0
133 2
+ 40% + 66% 0.1

2.3%
1,60 0

One time
1782
178 1,40 0

provision for
0.0 8

footprint
1,20 0
1,051
rationalization
1,00 0
3 0.0 6

80 0
249 1,741
2,217 60 0
0.0 4

1,585 40 0
802 0.0 2

20 0

- 0

H1 FY24 H1 FY25
H1 FY24 H2 FY25
Not es :
1. R ev enue from op erations
2. Normalised EB ITDA refers to report ed EB ITDA less one-time fair v aluat ion gain of INR 178 crores (included in ot her income) on account of a cquisition of controlling interest in one of the joint venture entity of SAMIL i.e. Motherson Auto Solutions Lim it ed in Q 2 FY 25. The
post tax imp act the same is INR 133 crores and is being reduced from reported PAT (concern share) t o arrive at Normalised PA T
32
32 3. For Q2 FY 24, Normalised PA T is w it hout fact oring in the excep tional expenses provision of R s. 249 crores in respect of phased operational realignment of certain autom otive capacities located in Europ e
4. EB ITDA and P AT margins are com puted on Normalised figures. The growth percentages for EBITDA, P BT and PAT are comput ed on normalised figures
 Business Division Wise Financial Performance 1 : H1FY25 vs H1FY24.
(all figures are Rs. in Crores)

Wiring Modules and Vision Integrated Emerging

Harness. Polymer Products. Systems. Assemblies. Businesses.
Revenues Revenues Revenues Revenues Revenues
+ 7% +27% + 5% + 43%
29,833 9,804
23,469
10 ,0 00
9,304 5,496
9,00 0

16,438 8,00 0

15,430 21 ,0 00

7,00 0
3,847
6,00 0
6, 000 5,050
5,00 0
5, 000
4,00 0 4, 000
3,00 0 3, 000
2, 000
2,00 0
1, 000
1,00 0
1,00 0 1,00 0 -

H1 FY24 H1 FY25 H1 FY24 H1 FY25 H1 FY24 H1 FY25 H1 FY25 H1 FY24 H1 FY25

EBITDA 12.8%
EBITDA EBITDA EBITDA EBITDA
11.4% + 55% 703
8.1% 80 0 20 .0%

10.4% 7.3% 2,00 0

9.3% 9.4% 18 .0%
11.0% 18 .0%

2,50 0
+ 17% 18 .0%
2,50 0 +41% 2,407 18 .0%
1,80 0
+6% 16 .0%
70 0

11.8% 16 .0%

1,882 16 .0%

1,713 16 .0%
1,60 0
14 .0%
60 0

455 14 .0%
2,00 0
1,604 14 .0% 2,00 0
14 .0%
1,40 0
12 .0%
50 0
12 .0%

1,50 0
12 .0%

10 .0%
1,50 0
12 .0%

10 .0%
1,20 0

1,00 0
862 918 10 .0%
80 0
70 0
558 40 0
18 .0%
16 .0%
10 .0%

8.0 % 8.0 %
60 0 30140.0%
8.0 % 8.0 % 80 0
1,00 0 1,00 0 12 .0%
50 0 6.0 %
6.0 % 10 .0%
6.0 % 6.0 % 60 0 40 0 20 0
8.0 %
30 0 4.0 %
4.0 % 4.0 % 6.0 %
4.0 % 50 0 40 0
50 0 20 0 104.0
0%
2.0 %
2.0 % 2.0 % 10 0 2.0 %
2.0 % 20 0
- 0.0 %
- 0.0 % 0 0.0 %
- 0.0 % - 0.0 %

H1 FY24 H1 FY25 H1 FY24 H1 FY25 H1 FY24 H1 FY25 H1 FY25 H1 FY24 H1 FY25

Notes:
1. Divisional numbers reported are including 100% of joint ventures and associates accounted as per equity method (Economic Reve nue)
33
33
2. H1 FY24 had integrated assemblies business division for only 2 months and hence not shown in comparison above as it not a like for like comparison
 Robust Balance Sheet with Comfortable Debt Maturities and Strong Liquidity.
Gross Debt ~INR 21,320 (~USD 2.5 Bn) Liquidity ~INR 15,000 crore (~USD 1.8 Bn)
(INR crore, as of Sep 30th, 2024) (INR crore, as of Sep 30 th, 2024)

Commited
Undrawn
Short Term Debt Facilities
Inc luding RCF Roll
5,298 Ov er fac ilitie s 2,724

3,720 3,108
2,444 2,915
2,158 1,685
Unnrestricted cash
and cash
Q3-Q4 FY26 FY27 FY28 FY29 FY30 and equivalents
FY25 beyond 12,287

• Paid down loans amounting to approx. INR 5,000 crore on 8 th November • Liquidity as of September 2024 includes proceeds of QIP of
from cash balance approx. INR 6,437 crore. Approx 6,000 crore of which has
been subsequently used to pay down debt and for general
corporate purposes

Note:
1. For this anakysis, Rs ~1,500 cr of CCD portion of fund raise, assumed as equity and is not included in the debt stack on the chart due to its nature of being a compulsorily convertible instrument.
34
34 2. Only committed undrawn facilities considered.
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