Net profit of Samvardhana Motherson International rose 336.49% to Rs 879.74 crore in the quarter ended September 2024 as against Rs 201.55 crore during the previous quarter ended September 2023. Sales rose 18.78% to Rs 27668.35 crore in the quarter ended September 2024 as against Rs 23294.33 crore during the previous quarter ended September 2023. ParticularsQuarter EndedSep. 2024Sep. 2023% Var. Sales27668.3523294.33 19 OPM %8.858.11 - PBDT2345.251640.11 43 PBT1242.41772.72 61 NP879.74201.55 336 Powered by Capital Market - Live News

Samvardhana Motherson Intl. will hold a meeting of the Board of Directors of the Company on 12 November 2024.Powered by Capital Market - Live News

Samvardhana Motherson International (SAMIL) successfully concluded its capital raise of Rs 6,438 crore (USD 771 Mn approx.) on 20 September 2024. The issue garnered strong interest from both domestic and foreign institutional investors, leading to substantial demand over the issue size. Over 95% of allocations were made to marquee long-only investors such as mutual funds, insurance and pension funds, foreign institutional investors (FIIs) etc. The issue resulted in the further diversification and strengthening of the shareholder base. SAMIL has become one of the few successful issuers of Equity and Compulsorily Convertible Debentures (CCDs) in a composite issuance (equity of Rs 4,938 crore and CCDs of Rs 1,500 crore) (the issuance). The transaction subscription was done at a share price of Rs 190/share while the floor price as per SEBI ICDR regulations was Rs 188.85/share. The proceeds from the issuance will be mainly directed towards debt repayment, thereby further strengthening SAMIL`s balance sheet and enhancing its position to capitalize on various growth opportunities. Some of the proceeds will be used towards general corporate purposes.Powered by Capital Market - Live News

MSSL Mideast (FZE), a wholly owned subsidiary of Samvardhana Motherson International, has incorporated a wholly owned subsidiary, namely, Motherson Strategic Systems Mideast, Jebel Ali Free Zone, Dubai. The newly incorporated company will acquire, invest and hold movable and immovable assets of group.Powered by Capital Market - Live News

Samvardhana Motherson International announced that its wholly owned subsidiary, Samvardhana Motherson Innovative Solutions has completed the acquisition of 34% stake in Motherson Auto Solutions (MASL) from Sojitz Corporation. Upon the aforesaid acquisition of 34% stake, MASL has become an indirect wholly owned subsidiary of the Company. Powered by Capital Market - Live News