Samvardhana Motherson shares touched a fresh record high on the NSE on Friday, after the company posted a sharp rise in first quarter profit.

Net profit more than doubled. The company reported a consolidated net profit of Rs 1,032 crore for the quarter, up from Rs 511.84 crore a year earlier. Revenue rose 16.65% to Rs 35,243.77 crore.

Profitability also improved. EBITDA, which is basically a measure of how much a company earns from its core operations before accounting for interest, tax and depreciation, grew 30.44% to Rs 2,950 crore.

The EBITDA margin moved up to 8.37% from 7.49% a year ago, meaning the company kept a bigger slice of every rupee it earned.

There’s more happening behind the scenes too. Samvardhana Motherson started three new manufacturing plants during the quarter, with 13 more currently being built.

It also picked up Shenzhen Autocruis, an acquisition meant to add new technology and expand its footprint in key markets.

Capital spending for the quarter came in at Rs 1,614 crore, part of a full year capex plan of around Rs 6,000 crore.

As of 12:23 pm on Friday, the stock was trading at Rs 168.65 on the NSE, up 8.81% from the previous close of Rs 155. That also happens to be a new 52 week high for the stock, beating its earlier peak.

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