Q1FY21 Results: Motherson Sumi Systems Limited
Posted on: 12/Aug/2020 10:18:24 AM
Motherson Sumi Systems Limited (MSSL) today announced financial results for its fiscal 2020-21 first quarter, which ended on 30th June 2020.
Motherson weathers COVID storm, production picked up on June 20 with stronger demand sighted for Quarter 2, High level of liquidity maintained.
Commenting on results, Mr. Vivek Chaand Sehgal, Chairman, MSSL said, “Coronavirus pandemic has created unprecedented challenges for the global automotive industry. Lockdown in various parts of the world severely dented demand for the automobile sector in the first quarter of the fiscal. Our topmost concern and focus during this period were the well-being and safety of our employees across all our plant locations and we worked on a war footing to put robust safety protocols in place. We thank our team members globally who worked very hard under these challenging conditions to ensure uninterrupted supplies to our customers.
However, even though the first quarter was a washout, economies have started witnessing green shoots of recovery. Our teams and plants across the globe have also resumed operations and are working closely with our customers to fulfill their requirements. We now expect demand for the auto industry to gain momentum in the coming quarters of this fiscal year”.
Q1 FY21 Results: CLICK HERE
