Australian wealthiest individual with a $5.4 billion net worth holds the 717th position on the Forbes list and heads a foremost automotive manufacturer company.
Motherson Group: From Small Silver Trading to Global Automotive Giant
Vivek Chaand Sehgal, the richest Indian living in Australia, co-founded the Motherson Group in 1975 with his late mother, Shrimati Swaran Lata Sehgal. Born in 1957 in Delhi and raised in a family that traded silver, Sehgal initially earned modest profits through silver trading before establishing Motherson as a small wire-making company[1][2][5].
Over the years, the Motherson Group has expanded its reach, becoming one of the largest suppliers of auto parts worldwide. Today, it is a $23 billion global leader in the automotive and aerospace manufacturing industries[5]. The company's primary business remains automotive parts, but it has also made its mark in the aerospace sector by providing parts to Airbus aircraft[3].
The Motherson Group is a diversified group with 12 business divisions. Its core business areas that contribute over 95% of revenue are:
- Wiring Harness: A full-service system supplier with in-house design, development, and manufacturing capabilities, serving both automotive and non-automotive sectors.
- Vision Systems: A leading global supplier of automotive vision products including interior and exterior mirrors and camera-based detection systems.
- Modules and Polymer Products: The largest division that produces a wide range of products from plastic parts to integrated systems and modules for original equipment manufacturers (OEMs) worldwide[5].
Financially, in the fiscal year 2022-23, Motherson reported revenue of ₹78,700.7 crore, a 23.4% increase from the previous year. EBITDA was ₹6,394 crore with an 8.1% margin, and net profit reached ₹1,495.6 crore, nearly tripling from the prior year[5]. The company also declared a dividend for shareholders.
Under the leadership of Vivek Chaand Sehgal, Motherson has transformed from a small family business into a global automotive component giant with significant revenues and profits. The company's impressive client list includes some of the most respected car manufacturers[4]. With its diversified product portfolio and strong presence worldwide, the Motherson Group continues to make strides in the automotive and aerospace industries.
[1] The Economic Times [2] Business Standard [3] Airbus [4] Motherson Group [5] Motherson Group Annual Report 2022-23
- Despite its origins in silver trading, the Motherson Group, under Vivek Chaand Sehgal's leadership, ventured into the defi sector, supplying essential components to the automotive and transportation industries.
- The Motherson Group's success in the automotive industry has not gone unnoticed, as it has achieved a significant position in the global finance market, particularly in the funding of automobile ventures.
- As the Motherson Group continues to expand its reach, predictions suggest its influence will extend beyond the automotive and aerospace industries, potentially impacting the finance market of the emergingelectric vehicle sector.
