Billionaire car-part supplier Vivek Chaand Sehgal is setting a daunting goal for Motherson Sumi

Vivek Chaand Sehgal has a track record of achieving the seemingly impossible. His company, a sprawling parts supplier to the world’s biggest carmakers, has exceeded its five-year target every time bar one in the past quarter century.His latest goal is equally daunting — Motherson Sumi Systems Ltd. is targeting to triple annual sales to $36 billion by 2025. Sehgal, 63, plans to achieve that by doing what he does best: dealing. Or more specifically, in light of the coronavirus pandemic, buying up distressed companies as they run out of money.For Sehgal to achieve that, however, things will have to improve dramatically. Five years ago, Motherson set a target of consolidated net sales of $18 billion by 2020, and it managed less than $12 billion as the virus hit and India saw its worst-ever slowdown in automobile sales. The stock has crashed almost 60% during the period, before doubling so far this financial year.Sehgal admits there’s “a lot of pain in the system.” But he believes the company’s focus on solving problems with its customers, teamed with an eye for deals, will “give us multiple opportunities in the coming months.” “Somewhere around October, November, you will start to see and hear… Read full this story

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