Motherson Sumi Wiring Q1 results: Profit falls, margins contract on project ramp-up costs

Motherson Sumi Wiring India Ltd reported a 4% year-on-year (YoY) drop in net profit to ₹143 crore for the June quarter, despite strong revenue growth of 14.2% to ₹2,494 crore, driven by new model launches and higher content per vehicle.

In an exchange filing, the Noida-based auto components maker said its EBITDA for the quarter rose 2.3% YoY to ₹244.2 crore from ₹238.7 crore. However, operating margins narrowed to 9.8% from 10.9% the previous year, largely due to ramp-up costs at new Greenfield projects.

The company’s electric vehicle (EV) segment accounted for 5.4% of total revenue during Q1 FY26. It remains debt-free and continues strategic expansion to align with future demand from original equipment manufacturers (OEMs).

“The company has delivered a robust year-on-year revenue growth, significantly outpacing the industry’s expansion. While the ramp-up at a specific Greenfield project is slower than expected, we remain on track with our expansion plans to support OEMs’ future needs,” said Chairman Vivek Chaand Sehgal.

Incorporated in 2020 following the demerger of its domestic wiring harness business, Motherson Sumi Wiring is promoted by Samvardhana Motherson Ltd and leverages technological support from Japan’s Sumitomo Wiring Systems.

Its nationwide network of manufacturing and technical centers is strategically located near major automotive OEM hubs, enabling the just-in-time delivery of wiring harness solutions.

Shares of Motherson Sumi Wiring ended 1.2% lower on Monday at ₹40.00 on the BSE.