Vivek Chaand Sehgal
Chairman, Samvardhana Motherson GroupBirth DetailsFebruary 1, 1957
NationalityAustralian
LeagueBusiness Leader
EducationBachelor of Arts, Science, University of Delhi
Net Worth$3.6 billion (As of May 29, 2021)
Vivek Chaand Sehgal's Assets:
Vivek Chaand Sehgal's Journey so far ...
Before you go ...
- Samvardhana Motherson Group
Vivek Chaand Sehgal's Journey so far ...
- Starting out with transporting silver to the airport for a commission at the age of 18, Vivek Chaand Sehgal teamed up with his mother to create a silver trading company, called Samavardhan Motherson, in 1975
- In 1983, Sehgal shifted the focus of his business from silver trading to manufacturing auto components
- Soon, Motherson went into a joint venture with the Japanese manufacturer Sumitomo Wiring Systems to supply components to Maruti Suzuki
- Motherson Sumi Systems Ltd. was formally established in 1986
- Motherson debuted in the public markets in 1993
- Sehgal gave up his day-to-day responsibilities at Motherson and stepped down as its Managing Director in 1995
- In 2002, the company bought the Irish wiring harness company Wexford Electronics
- In 2009, his company acquired the UK-based rear-view mirror manufacturer VisioCorp
- In 2011, Motherson took over the German automobile interiors manufacturer Peguform
- In 2019, the firm acquired Bombardier’s UK-based rolling stock electrical component manufacturing business
- Since 2002, the company has made as many as 21 acquisitions and expanded its presence to 41 countries
- Among others, Motherson Sumi counts Daimler, Volkswagen, Toyota, Audi, BMW, Ford, GM, Honda and Maruti Suzuki as its clients
- The Motherson Group has over 270 manufacturing facilities and employs more than 1,35,000 professionals
- By 2019, the group’s revenues had grown to Rs 81,893.4 crore from Rs 19.3 in 1993
Before you go ...
- Sehgal became an Australian citizen in 1997
- Some of Motherson’s acquisitions such as VisioCorp and Peguform were a result of their clients’ suggestions. Despite most of his acquisitions being financially troubled, Sehgal has managed to turn them around to become contributors to the group’s revenues
- Every factory of the company has a temple on its campus
- Reports suggest that Sehgal’s group might enter the aerospace parts, defence equipment and medical devices sectors in the future
Last Updated: 01/06/2021
Vivek Chaand Sehgal News
- Motherson remains on course to achieve $108 billion turnover by 2030: ChairmanMotherson Group is on track to reach its $108 billion revenue goal by 2030. The company is diversifying its business beyond auto components. New ventures include consumer electronics, medical equipment, and manufacturing parts for drones.
- Samvardhana Motherson Q3 Results: Net profit rises 62% YoY to Rs 879 croreAuto component maker Samvardhana Motherson International on Friday reported a consolidated net profit of Rs 879 crore for the third quarter ended December 31, 2024. The company had reported a net profit of Rs 542 crore for the October-December quarter of the last fiscal.
- Samvardhana Motherson Q1 Results: Net profit jumps 65% YoY to Rs 994 crore; revenue rises 29%Samvardhana Motherson Q1 Results: Auto components maker Samvardhana Motherson International on Tuesday posted a 65% year-on-year (YoY) jump in consolidated net profit to Rs 994 crore for the June quarter of FY25. The company had reported a net profit of Rs 601 crore in the June quarter of the last fiscal.
- Motherson JV set to join Apple vendors' family circle in IndiaMotherson Group has joined Apple's supply chain network in India in partnership with BIEL Crystal Manufactory. They will set up a manufacturing facility in Tamil Nadu with an investment of Rs 2,000-2,500 crore. This strategic move aims to diversify Motherson's manufacturing focus beyond automotive components, leveraging Apple's reduced dependency on Chinese producers.
- Motherson Sumi Wiring Q1 Results: Profit up 21% at Rs 149 croreAuto components maker Motherson Sumi Wiring India Ltd on Monday reported 21 per cent increase in net profit at Rs 148.87 crore for June quarter FY25 riding on strong revenue growth. The company had logged a net profit of Rs 123.13 crore in the same quarter last fiscal, Motherson Sumi Wiring India Ltd (MSWIL) said in a regulatory filing.
- Samvardhana Motherson Q4 Results: Net profit jumps 2-fold to Rs 1,444 crAuto components maker Samvardhana Motherson International Ltd on Wednesday posted a two-fold jump in consolidated net profit to Rs 1,444 crore for the fourth quarter ended March 2024. The company had reported a net profit of Rs 699 crore in the January-March period of the last fiscal.
- Motherson Sumi Wiring Q4 Results: PAT jumps 38% YoY to Rs 191 crore, revenue rises 19%Motherson Sumi Wiring Q4 Results: The company’s revenue for the period was reported at Rs 2,233 cr, a 19% jump YoY. The board has announced a dividend of Rs 0.80 per share.
- Motherson to acquire Bengaluru-based Rollon Hydraulics"Our focus on being a solutions provider to our customers has been a driving force for this acquisition. We are getting access to a new industry segment of construction and material handling for our precision metal business," Motherson Chairman Vivek Chaand Sehgal said in a statement.
- Motherson Sumi Wiring Q3 Results: Firm misses profit view on higher costsThe company, in which Japan's Sumitomo Wiring Systems holds a 25% stake, makes wiring harnesses and other electrical wires that are used in various cars and automotives, as well as in other industrial applications
- SAMIL continues to be cautious about Q3 & Q4: Vivek Chaand Sehgal“ We have taken rectification measures and efficiency programmes across our different business divisions which have also helped. Going forward with at least the industry looking reasonably better than where it was, largely driven by how the supply chain has played out, the situation remains volatile but hopefully better. We expect the improvement to continue going forward as well,” says Kunal Malani
- Motherson Wiring India’s growth story is intact: Vivek Chaand Sehgal“Our focus is only on the India demand. There is no export portion of this business here. The export business is on the SAMIL side. There is a huge pent up demand or demand for bookings and for different reasons different customers have had issues in supplying the demand. I think the demand will stay very well.”
- Motherson’s deal with Daimler to be EPS accretive right from the beginning: Vivek Chaand Sehgal"Daimler India Commercial Vehicles' (DICV) frame manufacturing and assembly operations facilities in Chennai will be acquired via our own internal accruals and the cost is close to Rs 1,000 million. The new acquisition is going to be EPS accretive right from the beginning. From contract manufacturer, we have become assembly manufacturer for Daimler trucks and that would be very value accretive. "
- Vivek Chaand Sehgal on mega trends and Motherson’s plans in Saudi Arabia“My personal preference has always been to onshore, to produce in the countries that are imporing because that reduces the friction that the business creates. By and large, Motherson has a clear mindset. If you want to export more than 5%-10% of your turnover, move to that country and find ways and means by which you can produce there.”
- SAMIL bottom line will improve in next 1-2 months or a quarter: Vivek Chaand Sehgal“We need to do a lot to make the companies understand what extra costs they will have to pay. All that takes time. We are thinking that within the next 1-2 months or maybe a quarter, the bottom line will improve even for the past quarter. I think in the coming one-three months, the money will come in. It will all come into the bottom line.”
- Motherson Sumi Wiring will do even better in coming quarters: Vivek Chaand Sehgal“We will have to keep a watch on the China-Taiwan developments, but I do not think there will be that much of an impact. By September, the chip issue should be sorted out reasonably. Production is happening all over the world and is not necessarily confined to Taiwan only now.”
- We have done 29 acquisitions till now and not even one has gone bad: Vivek Chaand Sehgal“We are constantly prodded by customers to go ahead and do acquisitions. We are still careful, we try to make sure that we understand the thing very well and then take a measured call and then take the asset over. Yes, that delays it a bit, but there are a tremendous number of requests for us to take over companies.”
- Work in progress the best way to describe Motherson performance this year: Vivek Chaand“We felt that by September-October this year, the semiconductor issue would be conquered but there are some new challenges that have been thrown in with the war situation. But otherwise, it might get delayed by a quarter more. So maybe December-January might be the right time by which we can see some amount of relief coming in.”
- Motherson closes in on acquisition of auto parts company MarelliA deal is likely to be announced by the end of May or early June, the people said, asking not to be named. They also did not reveal any likely financial terms or how the Motherson Group will fund the deal. The acquisition, if consummated, will propel the group, India's largest automobile component manufacturer, to be among the global top-ten in the segment.
- Samvardhana Motherson signs MoU with Paris-based firm for lighting solutionsMotherson Group Chairman Vivek Chaand Sehgal in a statement said the collaboration combines the company's modules and polymer products expertise with Valeo's extensive technology experience to offer class-leading interior integrated lighting solutions to the consumers.
- Motherson Sumi keeping a higher inventory and not trying to run very lean now: Vivek Chaand Sehgal“We operate in a very conservative way on our debt. But the debt has not gone; there are a lot of small adjustments here and there and we are keeping a higher inventory. That is the order of the day. So, we are not trying to run very lean at this particular moment.”
- Domestic market a big saviour for stadalone Motherson Sumi last quarter: Vivek Chaand Sehgal“In three quarters, from being 22% of our order book and then 25% last quarter, this quarter EV orders are going to be 27%. So definitely there is a need for us to imagine that the pure electric vehicle numbers might go up. But one should keep in mind that the semiconductor shortage also affects EV vehicles that much more. ”
- Vivek Chaand Sehgal on Motherson Sumi getting into aerospace segment, chip shortage and more"We have to get a 40% return on capital employed. CIM Tools is a profit making company and our idea would be to improve on that and, of course, add to the top line."
- Motherson Sumi acquires two companies, enters aerospaceMotherson Sumi Systems (MSSL), the listed entity, will be acquiring 55% in CIM Tools at an enterprise value of 400 crore.
- Motherson Group eyes acquisitions as pandemic presents attractive opportunities"We are in a strong position to make acquisitions, even in a volatile environment. Our balance sheet has become stronger since OEMs started re-opening their plants beginning last October, and we could begin ramping-up again" MSSL Chairman Vivek Chaand Sehgal informed the company's shareholders in the annual report for 2020-21.
- Motherson Group joins UNGC to strengthen sustainability commitment"As a signatory, we will be integrating the principles of the (UN Global) Compact into our business practices, with the objective of creating a sustainable and equitable world that we all want," Motherson Group Chairman Vivek Chaand Sehgal said.
- It is a challenging, ever changing situation but Motherson Sumi is geared to take care of it: Vivek Chaand Sehgal"India was hit a bit but otherwise we have been on our toes, adjusting to customer needs. But the good news for me is that the demand is very robust."
- How Motherson will become a $36-bn company with a ROCE of 40%“We want to reduce our debt to zero if possible and give that cash back to the shareholders, ” says Vivek Chaand Sehgal.
- We have one of the largest Indian investments in Mexico: Vivek Chaand Sehgal, Chairman, Motherson Sumi"The demand is almost as good as pre-COVID times, almost in some countries, of course, there are one or two pockets here and there which could be a bit different but generally, people want to work."
- Motherson Group completes acquisition of majority stake in Turkey's Plast Met GroupIn January this year, the group had announced that the acquisition is being carried out by Samvardhana Motherson Automotive Systems Group BV (SMRPBV), through its subsidiary Samvardhana Motherson Reflectec (SMR).
- We used Covid crisis to fix multiple issues globally: Vivek Chaand Sehgal“It is a huge mistake to waste a crisis. Crisis will always happen, just use it to your advantage.”
- Glad to deliver highest-ever quarterly revenue in Q3: Vivek Chaand SehgalPerformance indicative of inherent strength of the company, says Motherson Sumi Chairman
- Motherson Sumi Q3 results: Net profit nearly triples to Rs 798 croreThe company had posted net profit of Rs 271 crore in the year-ago period.
- After Plast Met, Motherson Sumi looking at other acquisitionsIt was a pending acquisition that we should have done last year but then the Covid outbreak happened and we were successful in working through these troubled times, says Vivek Chaand.
- Covid has dramatically changed the idea of personal transportation: Vivek Chaand Sehgal“Our customers are eagerly waiting for the January opening up of their plants and we are back in a big way.”
- Motherson Sumi to tap non-auto biz to drive growthIn Motherson Sumi, we believe in the saying “top line vanity, bottom line sanity, cash-in-bank reality,” says Vivek Chaand Sehgal.
- Globally we are operating all our plants save one: Motherson Sumi‘Cars are now the best example of PPE, private personal environment control.’
- Billionaire car-part supplier Vivek Chaand Sehgal is setting a daunting goal for Motherson SumiFor Sehgal to achieve his goal, however, things will have to improve dramatically. Five years ago, Motherson set a target of consolidated net sales of $18 bn by 2020, and it managed less than $12 bn as the virus hit and India saw its worst-ever auto slowdown. The stock has crashed almost 60% during the period, before doubling so far this fiscal.
- We are Atmanirbhar, we don’t see many challenges: Motherson SumiThe whole idea was we buy it outside cheaper. Now the challenge will be to make it in India cheaper.
- Manufacturing overseas economically key to become global suppliers: Motherson Group Chairman VC SehgalThe future of manufacturing is not going to be a simple question of ordering from one country instead of other, Sehgal said while speaking at the ET Global Townhall. The pandemic has revealed that to be a successful global supplier, companies will have to follow the philosophy of globally local manufacturing.
- Biz rejig takes care of all concerns of Motherson Sumi stakeholders: Vivek Chaand Sehgal‘Sumitomo wanted their focus only to be on the domestic wiring harness business for which this JV was set up 37 years ago.’
- Q4 should be better for auto sector but for coronavirus scare: Vivek Chaand Sehgal, Motherson SumiVivek Chaand Sehgal, Chairman, Motherson Sumi, says April onwards, the demand should be better because the confusion about Euro-IV and Euro-VI would have gone. We are looking forward to the next five year plan.
- If you have the right cars, there is no slowdown: Vivek Chaand Sehgal, Motherson SumiAll the greenfield projects are going through a ramp-up which cannot happen overnight.
- Don’t expect the pain to last more than 2 quarters: Vivek Chaand Sehgal, MothersonDespite difficulties, Motherson Sumi's numbers are on the upside. Turnover is up 14%.
- If the market is good, we are good, if it is not so good, we are still good: Vivek Chaand Sehgal, Motherson Sumi“We have set up 34 new plants in the last four years and are preparing for the next generation.”
- If there is good news for US car industry, it is good news for us as well: Vivek Chaand Sehgal, Motherson Sumi"Motherson’s 3CX15 policy of no country, no customer, no component more than 15% of turnover has helped."
- Unless people stop buying cars, raised import tariffs don’t matter: Vivek Chaand SehgalWe have been ready for EVs for a long time, says Motherson Sumi chairman
- Motherson Sumi Q3 Y-o-Y much better than anticipated: Vivek Chaand Sehgal“The revenues in India were up 20% on the consolidated basis Q-o-Q. Outside India, the growth is 38%.”
- Electric vehicles open up huge opportunity for Motherson Sumi: Vivek Chaand Sehgal“We are working a lot of our plants day in and day out to keep up with demand.”
- V C Sehgal, Chairman Motherson Group shares mantras that helped manage high octane growthWith a slew of over 370 companies spread across 37 countries, and 25 joint ventures under its belt, the Samvardhana Motherson Group ranks among the largest auto component players in the world. And the company is aiming to become the world’s top 10 till 2020.
- Here's all about Vivek Chaand Sehgal's MSSL which is set to buy Bosch LLC arm for $600 mnTill the turn of the century, MSSL was a domestic-focused company with zero exports. By fiscal year 2006, some 29% of revenues were from overseas sales; now that figure is 84%.
- Motherson Sumi likely to foray into railways segment through PKC acquisitionPKC has over 20 manufacturing facilities across Russia, Lithuania, Serbia, Poland, Estonia, Finland, China, United States, Brazil and Mexico.
- Motherson Sumi owns 94.7% of PKC Group post acquisition: Vivek Chaand SehgalWe are keeping the offer open for another two weeks just to make sure that the residual shareholders can also tender their shares and the whole thing can be done.
- PKC acquisition will give Motherson Sumi a huge operational boost: Vivek Chaand SehgalAcquistion of PKC will help Motherson Sumi set up more factories and bag more orders in the next 10-15 years, says Sehgal.
- Target is to garner $18 billion revenue by 2020: Vivek Chaand Sehgal, Motherson Sumi"If you do not have ROCE targets, growth is very easily possible. The key point is to keep growing a CAGR of 28-30% a year and deliver ROCE in the excess of 40%."
- Motherson Sumi Q3 net up 21% at Rs 307 croreThe company’s consolidated revenues stood at Rs 9,676 crore during the quarter as against Rs 8,950 crore in the year-ago period.
- Motherson Sumi Systems Q2 net profit surges over 2-fold to Rs 287 croreMSSL reported an over two-fold increase in its consolidated net profit at Rs 286.89 crore for the September quarter, aided by robust sales.
- Strategic partnership deal with Volkswagen a huge opportunity for us: Vivek Chaand Sehgal, Motherson Sumi"It means that we will get more orders from Volkswagen. It is not merely a price-based thing, it is more about the quality of our delivery and craftsmanship."
- Aiming for $18-bn revenue by 2020 with rupee at 70/$: Vivek Chaand Sehgal, Motherson Sumi Systems'Ever since the first five-year plan which came out in 1994-1995 going up to 1998-1999, we had declared four plans and successfully completed them.'
- Motherson Sumi Systems Ltd gets orders worth Rs 15,400 crore from Germany's DaimlerThe move would help capacity expansion in existing plants in Germany as well as new machines, tools and product development efforts.
- Expect Budget 2015 to boost Govt’s ‘Make in India’ programme: Vivek Chaand Sehgal, Motherson Sumi"We have a huge list of expectations. We also understand that the government and the automotive bodies have been working towards it."
- Samvardhana Motherson Group Chairman: Our strategies are more attuned to global marketsMotherson Sumi Systems, India’s largest automotive component maker, purchased US-based Stoneridge for $65.7 mn, to expand its customer base.
- No big acquisition in the offing: Motherson Sumi SystemsIn an interview with ET Now, Vivek Chaand Sehgal, Vice-Chairman, Motherson Sumi Systems, talks about the company's status and future strategies. Excerpts:
- Our sales going stronger: Vivek Chaand Sehgal, Motherson Sumi SystemsIn an interview with ET Now, Vivek Chaand Sehgal, Vice Chairman, Motherson Sumi Systems, talks about the company’s performance and future plans.
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