India · Delayed Price · Currency is INR Motherson Sumi Wiring India Earnings Call Transcripts
Fiscal Year 2026
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Annual revenue surpassed INR 10,000 crores for the first time, driven by 33% year-over-year growth and strong greenfield ramp-up. Gross margin was temporarily compressed by higher copper prices, but pass-through mechanisms and robust demand position the company for continued growth and margin normalization.
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Strong year-on-year growth in revenue and profitability was achieved despite copper inflation and rupee devaluation, with greenfield plants ramping up and CapEx on track. Margin impacts from commodity prices are expected to be temporary due to pass-through contracts.
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Q2 FY2026 saw record revenue of INR 2,762 crore and 12% EBITDA growth year-over-year, driven by strong greenfield ramp-up and increased EV content. Greenfield utilization is set to rise, with profitability expected as plants reach 70-80% utilization.
Fiscal Year 2025
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Achieved record revenues for FY2025 with 12% growth, driven by greenfield expansion and strong customer alignment. Greenfield plants are ramping up, with full utilization and INR 2,100 crore annualized sales expected in H2 FY2026. Gross margins dipped due to product mix and copper price lag.
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Q3 FY25 revenue reached INR 2,300 crores, with greenfield plants contributing INR 80 crores and startup costs impacting EBITDA by INR 40 crores. New facilities are expected to add INR 2,100 crores in annual revenue by H2 2026, and the company remains debt-free.
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Q2 FY25 revenue grew 10% year-on-year to INR 2,326 crores, with EBITDA at INR 250 crores and a 120 bps margin decline due to ramp-up costs at new plants. EV revenue share reached 4.1%, and the company remains net debt free with a 40% ROC.
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Q1 FY25 revenue rose 17% YoY to INR 2,185 crores, with strong growth in EV and hybrid segments. EBITDA increased 15% YoY, and the company remains debt-free, investing in new plants to support future demand.