Did you know that Motherson Sumi Systems (MSS) is India’s largest auto ancillary company? When I put this fact before investors and friends, they were surprised since most of them believed that that achievement belonged to Bharat Forge or Mico (now Bosch India). Their reaction is not without reason. Even 10 years ago, MSS was just one-third of Bosch — its revenue was just under ₹500 crore, compared with Bosch’s ₹1,700 crore and Bharat Forge’s ₹685 crore. Today, with revenues of ₹25,225 crore (FY13), MSS is the largest domestic auto ancillary firm (Bosch reported ₹9,300 crore revenue and Bharat Forge reported ₹5,900 crore in FY13). In fact, MSS’ revenues make it bigger than Bajaj Auto and Hero MotoCorp.
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