Suppliers experience recovery in Q4 FY21

Reporting a a 26.2 per cent growth in sales in the last quarter of FY202021 on back of 43 per cent growth in exports, Bharat Forge witnessed a sharp recovery in its end markets. Successfully bidding for Vadodara-based Sanghvi Forgings and securing a Government order for development and supply of components and products by the end of September 2021, the leading automotive supplier reported a consolidated net profit of Rs 212.12 crore in Q4 FY202021. It posted a consolidated net loss of Rs 68.59 crore in the same quarter of last fiscal. Its consolidated revenue from operations during the period under review stood at Rs.2,082.85 crore as against Rs.1,741.92 crore in the year ago quarter. On back of improved profitability and realization of engineering revenues, Sumi Motherson has announced a robust performance in Q4 FY2020-21. Reporting a 19 per cent increse in revenue in Q4 FY202021 at Rs.17,844 crore, the automotive supplier, completing two successful acquisitions – 75 per cent in Plast Met (Turkey) and assets of Bombardier rolling stocks in Mexico, the company maintained good profitability despite challenges like chip shortage and plant closures.