Motherson swing to Q1 loss but sees Q2 recovery

 Auto components maker Motherson Sumi Systems Ltd (MSSL) on Tuesday said it expects revenue to recover in the second quarter with the gradual unlocking of economies worldwide and demand bouncing back.

“We’re not back to normal yet, but clearly there are visible signs that auto sales are picking up. We expect to reach 75-80 percent of the pre-COVID business levels by Q2," Pankaj Mital, COO, MSSL told ETAuto.

As per the company, close to 84 percent of its plants globally are now running at 50 percent capacity. At present, the Samvardhana Motherson Group has over 270 manufacturing facilities across 41 countries.