Samvardhana Motherson International said that the recent labour protests reported in parts of Noida and a few other cities are part of a broader industry-wide issue and have had no material impact on its operations.
In a clarification to stock exchanges, the auto components major said the protests were being driven by misinformation around wage revisions and were not specific to the company. “This is a broader labour issue affecting multiple industries in Noida and some other cities,” the company said.
Motherson added that its operations remain fully compliant with applicable laws and regulations, and that employee safety continues to be its top priority. The company said local authorities are working closely with the industry to restore normalcy at the earliest.
The clarification comes amid media reports highlighting labour unrest in industrial clusters in Uttar Pradesh, prompting investor concerns around potential disruptions to manufacturing activity.
The company submitted the clarification under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
