MOTHERSON Sumi Systems Limited, the flagship company of automotive ancillary giant Samvardhana Motherson Group has received the coveted AAA rating from India Ratings and Research (Ind-Ra).
The outlook is stable. MSSL’s diversified customer base and product profile, a strong track record of revenue growth and profits, ability to turnaround acquisitions, global manufacturing footprint and high ROCEs in key businesses, good liquidity across the consolidated profile were some of the key factors for receiving the rating.
Among other things, the rating factors in MSSL’s long-standing and deep relationships with key Original Equipment Manufacturers (OEMs) globally; of the top 21 OEMs, the company has more than 20 years of relationship with 17 OEMs. The Group’s 3CX15 strategy to not have any component, customer or country contributing more than 15% to the business has ensured risk mitigation and steady growth.
On receiving the prestigious AAA rating, Vivek Chaand Sehgal, chairman, Samvardhana Motherson Group said, “We are proud and delighted with the rating announcement. Customer satisfaction has been the cornerstone of what we do and the strategies we have followed have created value for all our stakeholders, internal and external. Our teams continue to excel and this is excellent validation for all their effort. The vision of becoming the Globally Preferred Solutions Provider continues to drive our passion to do better.”