Motherson Sumi is past its teens. It can’t grow fast enough to touch USD18 billion revenue in FY20.

Joint ventures: 39 Acquisitions: 21 Motherson Sumi and deals are inseparable. India’s largest auto-components company by revenue has surpassed the last three revenue targets (for 2005, 2010, and 2015) it had set for itself in an ambitious five-year plan – growing from USD34 million in financial 2000 to USD5.5 billion in 2015, principally driven by smart acquisitions. But in business, extrapolation from history works only until fundamentals