Samvardhana Motherson

Last updated

Samvardhana Motherson International Limited
Type Public
BSE:  517334
NSE:  MOTHERSON
Industry Automotive
Founded1986  OOjs UI icon edit-ltr-progressive.svg
FounderS. L. Sehgal
Vivek Chaand Sehgal [1]
Headquarters
Noida, Uttar Pradesh
,
India
Key people
Vivek Chaand Sehgal (Chairman)
Laksh Vaaman Sehgal (Vice Chairman) [2]
Products
RevenueIncrease2.svg₹78,701 crore (US$9.9 billion) (FY23) [3]
Increase2.svg₹6,394 crore (US$800 million) (FY23) [3]
Increase2.svg₹1,496 crore (US$190 million) (FY23) [3]
Owners
Number of employees
129,000
Subsidiaries
  • Samvardhana Motherson Peguform
  • Samvardhana Motherson Reflectec
  • PKC Group
Website Official website

Samvardhana Motherson International Ltd (formerly known as Motherson Sumi Systems Ltd) is an Indian multinational manufacturer of automotive components, based in Noida. It makes wiring harnesses, plastic components and rearview mirrors for passenger cars. [5] The company was established in 1986 as a joint venture with the Sumitomo Group of Japan.

Contents

History

1975-1999

In 1975, Vivek Chaand Sehgal and his mother established the Motherson Group as a silver trading business. [6] Two years later, Sehgal set up a power cables factory. [7] A collaboration with Tokai Electric Co. (now Sumitomo Wiring Systems) in 1983 led to the incorporation of Motherson Sumi Systems in 1986, primarily as a wiring harness manufacturer for Maruti Udyog. Motherson Sumi Systems started as a joint venture between Samvardhana Motherson International Ltd of India and Sumitomo Wiring Systems Ltd. (SWS) of Japan. The company was listed in 1993 on BSE and subsequently on NSE.

2000-2019

Samvardhana Motherson Peguform in Botzingen, Germany. Peguform (Botzingen) 4602.jpg
Samvardhana Motherson Peguform in Bötzingen, Germany.
Samvardhana Motherson Reflectec in Mosonmagyarovar, Hungary. SMR Hungary, 2017 Mosonmagyarovar.jpg
Samvardhana Motherson Reflectec in Mosonmagyaróvár, Hungary.
PKC Group office in Kempele, Finland. PKC Kempele 2007 07 11.JPG
PKC Group office in Kempele, Finland.

Motherson Sumi Systems went on to acquire several companies, the first being in 2002 when it acquired the assets of the bankrupt Irish company Wexford Electronics, a manufacturer of wiring harnesses for material handling and earthmoving equipment. In 2006, it purchased the Australian company Empire Rubber. [8] In 2009, it acquired the global rearview mirror business of the world's largest rearview mirror maker Visiocorp  [ de ] (now renamed as Samvardhana Motherson Reflectec). [9] [10] In 2011, it acquired the German interior and exterior polymer modules maker Peguform  [ de ] (now named Samvardhana Motherson Peguform). [11] [12]

In 2014, it bought the wiring harness business of Stoneridge Inc for $65.7 million. [13] This was followed by the acquisition of Finnish electrical distribution systems manufacturer of tamilnadu PKC Group  [ fi ] in 2017 for $619 million, [14] French interior components maker Reydel Automotives (now named Samvardhana Motherson Reydel Companies) in 2018 for $201 million, [15] [16] and Bombardier Transportation's UK electrical component and systems business in 2019. [17]

2020-present

In 2020, the domestic wiring harness business was restructured under a newly-incorporated, wholly-owned subsidiary of Motherson Sumi Systems called Motherson Sumi Wiring India Limited (MSWIL). [18] MSWIL was subsequently demerged and became a listed company in 2022. [19] At the time of its listing, Samvardhana Motherson International held a 33.4% stake in MSWIL, while 25.3% was held by Sumitomo Wiring Systems, 3% by Sehgal family and the rest by public investors. [20]

After this demerger, the holding company of the group Samvardhana Motherson International Limited, which held stakes in Motherson Sumi Systems and the unlisted global components maker Samvardhana Motherson Automotive Components Group BV (SMRPBV), was merged into Motherson Sumi Systems; the merged entity was renamed as Samvardhana Motherson International Limited. After the merger, Sehgal family held a 50.4% majority stake in the merged entity followed by Sumitomo Wiring Systems at 17.7%. [21]

In 2022, the company acquired Ichikoh's mirror manufacturing division for ¥ 5.2 billion ( US$ 47.38 million). [22] Samvardhana Motherson's notable acquisitions in 2023 include 51% stake in Saddles International, an Indian automotive upholstery company, for ₹207 crore (US$26 million); [23] 100% of SAS Autosystemtechnik, a German automotive cockpit manufacturer, from Faurecia at an enterprise value of €540 million; [24] 81% stake in the four-wheeler business of Yachiyo Industry  [ ja ], a Honda Group company, for ¥ 22.9 billion ( US$ 208.66 million); [25] and the insolvent German automotive supplier Dr. Schneider Group  [ de ] for €118.3 million. [26]

Products

The products manufactured by Samvardhana Motherson Group comprises wiring harnesses (electrical distribution systems), rearview mirrors, moulded plastic parts including car interior and exterior parts, bumpers, dashboards and door trims, complete polymer modules, rubber components for automotive and industrial applications, high precision machined metal parts and injection moulding tools. [27]

Related Research Articles

<span class="mw-page-title-main">ABB</span> Swedish-Swiss robotics and electrical equipment company

ABB Ltd. is a Swedish-Swiss multinational corporation headquartered in Västerås, Sweden, and Zürich, Switzerland. The company was formed in 1988 when Sweden's Allmänna Svenska Elektriska Aktiebolaget (Asea) and Switzerland's Brown, Boveri & Cie merged to create Asea Brown Boveri, later simplified to the initials ABB. Both companies were established in the late 1800s and were major electrical equipment manufacturers, a business in which ABB remains active. The company has also since expanded to robotics and automation technology.

LucasVarity plc was a UK automotive parts manufacturer, created by a merger of the British Lucas Industries plc, and the North American Varity Corporation in August 1996.

<span class="mw-page-title-main">Magna International</span> Canadian automotive supplier

Magna International Inc. is a Canadian parts manufacturer for automakers. It is one of the largest companies in Canada and was recognized on the 2020 Forbes Global 2000. The company is the largest automobile parts manufacturer in North America by sales of original equipment parts; it has ranked consistently in the Fortune Global 500 list for 20 years in a row since 2001. It produces automotive systems, assemblies, modules, and components, which are supplied to General Motors, Ford and Stellantis, as well as BMW, Mercedes, Volkswagen, Toyota, Tesla, and Tata Motors, among others.

Sumitomo Corporation is one of the largest worldwide sōgō shōsha general trading companies, and is a diversified corporation. The company was incorporated in 1919 and is a member company of the Sumitomo Group.

Aptiv PLC is an Irish-American automotive technology supplier with headquarters in Dublin. Aptiv grew out of the now-defunct American company, Delphi Automotive Systems, which itself was formerly a component of General Motors.

Kotak Mahindra Bank Limited is an Indian banking and financial services company headquartered in Mumbai. It offers banking products and financial services for corporate and retail customers in the areas of personal finance, investment banking, life insurance, and wealth management. It is India's third largest private sector bank by market capitalisation after HDFC Bank and ICICI Bank. As of 31 March 2023, the bank has a national footprint of 1,780 branches and 2,963 ATMs.

<span class="mw-page-title-main">Tata Technologies</span> Indian engineering services company

Tata Technologies Limited is an Indian multinational product engineering company that provides services in engineering and design, product lifecycle management, manufacturing, product development, and IT service management to automotive and aerospace original equipment manufacturers as well as industrial machinery companies. It is a subsidiary of Tata Motors.

<span class="mw-page-title-main">Mahindra & Mahindra</span> Indian automobile manufacturer

Mahindra & Mahindra Limited (M&M) is an Indian multinational automotive manufacturing corporation headquartered in Mumbai. It was established in 1945 as Mahindra & Mohammed and later renamed Mahindra & Mahindra. Part of the Mahindra Group, M&M is one of the largest vehicle manufacturers by production in India. Its unit, Mahindra Tractors, is the largest manufacturer of tractors in the world by volume. It was ranked 17th on a list of top companies in India by Fortune India 500 in 2018. Its major competitors in the Indian market include Maruti Suzuki India and Tata Motors.

<span class="mw-page-title-main">Kalyani Group</span> Indian industrial conglomerate

The Kalyani Group is an Indian multinational conglomerate that operates in various key sectors including engineering steel, automotive and non-automotive components, renewable energy and infrastructure, and specialty chemicals. The group has also expanded its operations into the defense manufacturing sector, which was showcased at the DefExpo 2020.

<span class="mw-page-title-main">MinebeaMitsumi</span> Japanese multinational corporation

MinebeaMitsumi, Inc. is a Japanese multinational manufacturer of mechanical components and electronic devices. The company's headquarters are located in Higashi-Shinbashi, Minato, Tokyo, and its registered office is located in Miyota, Nagano. The company was founded as Minebea Co., Ltd. in 1951. As of June 30, 2019, MinebeaMitsumi comprises 121 consolidated subsidiaries and affiliates. NMB (USA) Inc. is an American holding company that manages Minebea's American subsidiaries.

Sumitomo Electric Industries, Ltd. is a manufacturer of electric wire and optical fiber cables. Its headquarters are in Chūō-ku, Osaka, Japan. The company's shares are listed in the first section of the Tokyo, Nagoya Stock Exchanges, and the Fukuoka Stock Exchange. In the period ending March 2021, the company reported consolidated sales of US$26,5 billion.

<span class="mw-page-title-main">Dräxlmaier Group</span> German automotive company

The Dräxlmaier Group is a globally operating automotive supplier with its headquarters in the Lower Bavarian city of Vilsbiburg, Germany. Founded in 1958, the family-owned company specializes in the production of wiring harness systems, central electrical and electronic components, interiors, and low- and high-voltage battery systems for electric mobility for premium vehicles.

<span class="mw-page-title-main">Yazaki</span> Japanese automotive parts manufacturer

Yazaki Corporation is a global automotive parts supplier with a focus on wire harnesses, instruments and components such as connectors and terminals. The company's origin and headquarters are in Japan, but in 2011, roughly 90% of its employees were outside the home country.

<span class="mw-page-title-main">General Motors India</span> Subsidiary of General Motors

General Motors India Private Limited was a subsidiary of General Motors for its operations in India. General Motors had 93% stake in this partnership and the remaining 7% was held by SAIC. It was the 5th largest automobile manufacturing company in India after Maruti Suzuki, Hyundai, Tata Motors and Mahindra. After 21 years of operations in India, General Motors ceased selling cars in India by the end of 2017 as a part of its global restructuring actions.

<span class="mw-page-title-main">Nexteer Automotive</span>

Nexteer Automotive is a global motion control technology company. It is a publicly traded company owned about one-third by its shareholders and about two-thirds by Pacific Century Motors, which in turn is 51% owned by AVIC Automotive. Nexteer's global headquarters is in Auburn Hills, Michigan, United States.

<span class="mw-page-title-main">Rockman Industries</span>

Rockman Industries, formerly Rockman Cycles limited, is an Indian auto components manufacturer, based in New Delhi, India. The company is one of India's largest auto component manufacturers. Rockman Industries is primarily engaged in the manufacturing of aluminum die casting components, machined and painted assemblies, auto chains and parts. In January 2017, Rockman Industries entered the carbon composites sector with the acquisition of Moldex Composites, a UK-India carbon composite design and manufacturing company. Rockman was founded in 1960 and is led by Suman Kant Munjal, Chairman and Ujjwal Munjal, Managing Director.

Sumitomo Electric Bordnetze is a supplier of electronic wire harnesses and components for the international automotive industry. With its Headquarter in Wolfsburg, Germany, the company employs approx. 40,000 individuals in 14 countries.

<span class="mw-page-title-main">Vivek Chaand Sehgal</span> Indian-Australian businessman

Vivek Chaand Sehgal is an Indian-Australian billionaire businessman and entrepreneur. Sehgal is the chairman and co-founder of Samvardhana Motherson Group, an auto parts manufacturer.

<span class="mw-page-title-main">Titagarh Rail Systems</span> Indian rolling stock manufacturer

Titagarh Rail Systems Limited, formerly known as Titagarh Wagons Limited, is a prominent Indian rolling stock manufacturer in the private sector. Established in 1997, the company's headquarters are situated in Kolkata, West Bengal. Titagarh is listed on both the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).

<span class="mw-page-title-main">Veoneer</span> Automotive tech manufacturer

Veoneer is an American Swedish provider of automotive technology based in Stockholm, Sweden. It is incorporated in Delaware. The company is the result of a spin-off in 2018 of Autoliv's electronics and automated driving divisions. In 2019, Veoneer acquired high-performance brakes maker Nissin Kogyo's 49% stake in the Veoneer-Nissin Joint Venture's US operation. Veoneer's products include radars, lidars, thermal night vision cameras, vision systems and advanced driver assistance and autonomous driving software. Veoneer counts all major global automakers as its customers.

References

  1. ↑ "Management". Official website. Retrieved 2 August 2019.
  2. ↑ "Motherson Sumi outlines Vision 2025; sees consolidated revenues rising to $36 billion". CNBC TV18 . 18 January 2021. Retrieved 27 January 2021.
  3. 1 2 3 Podishetti, Akash (26 May 2023). "Samvardhana Motherson Q4 Results: Profit soars 436% YoY to Rs 654 cr; co posts highest-ever revenue at Rs 22,477 cr". The Economic Times. Retrieved 28 May 2023.
  4. ↑ "Sumitomo Wiring Systems sells 3.4 pc stake in Samvardhana Motherson International". The Economic Times. 16 March 2023. Retrieved 27 November 2023.
  5. ↑ "Motherson Sumi: The secret". www.fortuneindia.com. May 2019. Retrieved 14 September 2019.
  6. ↑ "How VC Sehgal drove Motherson Sumi to become India's largest auto component maker". Business Today. 23 December 2013. Retrieved 23 September 2022.
  7. ↑ Bhupta, Malini (10 February 2016). "The acquisition machine". www.business-standard.com. Retrieved 23 September 2022.
  8. ↑ "Motherson acquires Empire Rubber". Business Line. Retrieved 31 January 2012.
  9. ↑ "Motherson Sumi buys auto rearview mirror maker Visiocorp for $31.6 mln". Reuters. 10 March 2009. Retrieved 23 September 2022.
  10. ↑ "Motherson acquires Visiocorp PLC". DNA. Retrieved 31 January 2012.
  11. ↑ "Motherson Sumi acquires 80% stake in German co Peguform". www.thehindubusinessline.com. 13 July 2011. Retrieved 23 September 2022.
  12. ↑ "Motherson acquires Peguform". Economic Times. Retrieved 31 January 2012.
  13. ↑ Chauhan, Chanchal Pal. "Motherson Sumi Systems Ltd to buy Stoneridge Inc's wiring business for $65.7 million". The Economic Times. Retrieved 23 September 2022.
  14. ↑ "India's Motherson Sumi buys Finland's PKC Group for $619 million". Reuters. 27 March 2017. Retrieved 15 October 2022.
  15. ↑ Ghosh, Malyaban (3 April 2018). "Motherson Sumi buys Reydel Automotive for $201 million". mint. Retrieved 23 September 2022.
  16. ↑ "Vivek Chaand Sehgal: Man of many parts". Forbes India. 2018. Retrieved 15 September 2019.
  17. ↑ "Acquisition of Bombardier's Rolling Stock Business". indiatimes.com.
  18. ↑ Ghosh, Malyaban (2 July 2020). "Motherson Sumi announces new organizational restructuring". mint. Retrieved 23 September 2022.
  19. ↑ Nahar, Pawan. "Motherson Sumi Wiring shares list after demerger, rise 5%". The Economic Times. Retrieved 23 September 2022.
  20. ↑ "Motherson Sumi Wiring India" (PDF). Motilal Oswal. Bloomberg Quint. Retrieved 23 September 2022.
  21. ↑ Mudgill, Amit. "Motherson Sumi okays business rejig; what's in it for minority shareholders?". The Economic Times. Retrieved 23 September 2022.
  22. ↑ "Samvardhana Motherson Automotive to acquire mirror business of Japan's Ichikoh Industries". The Economic Times. Retrieved 13 October 2022.
  23. ↑ Bhalerao, Mayur (27 January 2023). "Samvardhana Motherson to buy 51% stake in Saddles International for ₹207 cr". mint. Retrieved 8 February 2023.
  24. ↑ "Samvardhana Motherson's subsidiary acquires 100% stake in SAS Autosystemtechnik". mint. 19 February 2023. Retrieved 13 March 2023.
  25. ↑ "India's Samvardhana Motherson to buy majority stake in Honda's unit". Reuters. 5 July 2023. Retrieved 5 July 2023.
  26. ↑ "India's Samvardhana Motherson buys Germany's Dr. Schneider for $132 million". Reuters. 24 July 2023. Retrieved 27 November 2023.
  27. ↑ "'We have all the ingredients which say people are choosing the right car', Motherson Sumi Co-Founder". www.timesnownews.com. 28 May 2019. Retrieved 14 September 2019.
This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.