Indian sources maintain Motherson Sumi Systems' first quarter fiscal year results have come in below estimates. noted although Motherson Sumi posted a significant rise in top and bottom-line results, management has said currency movements and input cost impact would find their way to consumers eventually.

It is therefore recommending accumulating the stock on every correction.

Motherson Sumi posted consolidated sales up 32% year-on-year to INR19.05bn (USD407.4m) which said was below its expectation.

Adverse foreign currency fluctuation and increases in input cost impacted margins. Net profit for the quarter came in below expectations at INR600m ($12.8m), largely on lower than expected top line growth and operating margins.

Higher tax rate also restricted net profit growth.