SMRC Automotive Holdings Netherlands B.V., a wholly owned subsidiary of Samvardhana Motherson International, has incorporated a wholly owned subsidiary (WOS), namely, Motherson International, Abu Dhabi.
Motherson International has been incorporated to carry on the business of manufacturing, assembling, marketing, trading, import, export, sourcing, tooling, purchasing raw material for all kinds of parts, subparts for automotive, nonautomotive and related industry.
The new entitys AED 30,000,000 authorised share capital will be subscribed by SAHNBV (a wholly owned subsidiary of Samvardhana Motherson International), in one or more tranches for cash.
Samvardhana Motherson International is the flagship company of the Samvardhana Motherson group.
The companys consolidated net profit of Rs 994.17 crore in Q1 FY25, jumped 65.45% as against Rs 600.87 crore posted in Q1 FY24. Total revenue from operations increased 28.51% YoY to Rs 28,867.96 crore during the June 2024 quarter.
The scrip rose 0.65% to close at Rs 185.70 on Friday, 16 August 2024.
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First Published: Aug 17 2024 | 2:42 PM IST
