Motherson wins its first order from Boeing; stock jumps over 2%

25 Mar 2022 , 11:37 AM

Motherson announced that it has won an order from Boeing to manufacture and supply aftermarket molded polymer parts for commercial airplane interiors. This is the first order for Motherson from Boeing.

Reacting to this news, shares of the company zoomed in the morning trade. The stock  is currently trading at Rs135.50 up by Rs3.2 or 2.42% from its previous closing of Rs132.30 on the BSE. The scrip opened at Rs135.20 and has touched a high and low of Rs139 and Rs134.35 respectively. 

The order will commence from Q3 FY23 and will be produced in a Motherson plant situated in Noida, located in the state of Uttar Pradesh in India.

Commenting on the deal, Kunal Bajaj, CEO (Aerospace division), Motherson, said, “We are delighted to be a part of Boeing’s global supply chain on plastic components. With this order, Motherson becomes a Tier-1 supplier to Boeing. This marks the beginning of a new journey in line with Motherson’s vision for growth in aerospace.”

“This is an important step in our commitment to the Government of India’s Aatmanirbhar Bharat vision. As a company with over seven decades of presence in India, Boeing is focused on supporting the development of aerospace and defence capabilities in India,” said Mr. Ashwani Bhargava, Senior Director, Supply Chain, Boeing India.

Motherson is scaling its capabilities to provide integrated solutions to the aerospace industry. With capabilities in aerospace ecosystem such as materials, aerostructures, wiring harnesses and global manufacturing footprint, Motherson has the necessary knowhow to support the upcoming ramp-up of production for major global aircraft manufacturers. This is in line with our growth strategy to strengthen non-automotive business as announced during our five-year plan, Vision 2025.