StockWatch
·

Motherson Sumi Wiring India Ltd

BSE: 543498

P/L Snapshot

Q1 FY27 · standalone

vs Q4 FY26·vs Q1 FY26
Revenue
3.4K
+2.3%+36.8%
Expenditure
3.2K
+3.0%+39.6%
Net Profit
145.32
-13.1%+1.6%
OPM %
7.58%
-0.64pp-2.21pp

Shareholding

Pattern breakdown

P/L Trends

(in crores)

RevenueExpenditureNet Profit
0.00955.541.9K2.9K3.8KQ2 FY25Q3 FY25Q4 FY25Q1 FY26Q2 FY26Q3 FY26Q4 FY26Q1 FY27
Price Chart
Reports

Revenue Surge, Profit Stall: The Margin Recovery Story Runs Late

wiring harness · margin compression · copper lag

Result verdictFollow-upQ1 FY2716 Aug 20266 minAutomobile

Revenue surge masked by PAT stall; margin recovery timeline uncertain

greenfield ramp · copper lag · wage inflation

TranscriptDeep diveQ1 FY2716 Aug 20266 minAutomobile

Motherson Sumi Wiring: Revenue +37% YoY, but Margin Squeeze Keeps PAT Nearly Flat

auto ancillary · wiring harness · margin compression

ResultsQ1 FY2704 Aug 20263 minAutomobile
Latest
Quarterly Result4 Aug, 11:16 am

Motherson Sumi Wiring: Revenue +37% YoY, but Margin Squeeze Keeps PAT Nearly Flat

Motherson Sumi Wiring India's standalone Q1 FY27 revenue from operations came in at ₹3,407.26 Cr, up 36.6% YoY from ₹2,494.03 Cr and up 2.2% QoQ from ₹3,334.62 Cr — comfortably ahead of the ~₹3,220 Cr level flagged in our pre-result preview. Profit after tax, however, was just ₹145.32 Cr — up only 1.6% YoY from ₹143.10 Cr and down 13.1% QoQ from ₹167.30 Cr — with basic EPS of ₹0.22 falling short of the ~₹0.30 consensus estimate cited pre-result. No exceptional items were booked in the current or comparative quarters, so the raw and adjusted YoY PAT growth are the same ~1.6% — a print that beat on revenue but missed on profitability. The gap between top-line and bottom-line growth traces to cost of materials consumed, which rose 41.7% YoY to ₹2,407.24 Cr — outpacing the 36.6% revenue growth — consistent with the copper-price pass-through lag management flagged on the Q4 FY26 call. Operating margin (EBITDA/revenue) compressed to 7.58% from 9.79% a year ago and from 8.22% last quarter, while net margin fell to 4.27% from 5.74% YoY. Management had guided that "a recovery is expected in the coming quarters as contractual mechanisms take effect" — this being the first such quarter, margins instead deteriorated further sequentially, so that recovery has not yet shown up in the numbers. Employee benefits expense was ₹517.76 Cr, up a more modest 8.8% YoY, so the squeeze sits almost entirely on the materials line rather than staffing. This filing's notes record the ESOP welfare trust (MSWIL ESOP Trust) being registered on May 4, 2026, and the company held its 6th AGM on July 28, 2026 and filed its FY26 BRSR report earlier in the quarter — none of these are numerically material to the print. No standalone management press release accompanying this filing was available to cross-check against the raw statements, so this read rests on the filed numbers and the Q4 FY26 concall guidance alone; management's own framing of this specific quarter's drivers is not yet on record. With revenue tracking ahead of plan but margins still compressing rather than recovering, the next checkpoint is whether Q2 FY27 shows the guided contractual pass-through starting to bite — absent that, the ~₹200 Cr capex plan and the greenfield-plant ramp toward a ~₹2,000 Cr annualized run-rate will be funded against a shrinking margin base rather than an expanding one.

4 Aug 2026, 11:16 am

Corporate Events

Board MeetingMSUMI
2026
4Aug

Board Meeting

The meeting of the Board of Directors is scheduled to consid…

BSE Filing
Board MeetingMSUMI
2026
28Jul

Board Meeting

The 6th Annual General Meeting ("AGM’") of the Company is sc…

BSE Filing
DividendMSUMI
2026
14Jul

₹0.58 / share

BSE Filing
Board MeetingMSUMI
2026
1Jul

Board Meeting

The Board of Directors approved the appointment of M/s P. R.

BSE Filing
Board MeetingMSUMI
2026
28Apr

Board Meeting

The Board of Directors met on April 28, 2026. The meeting r…

BSE Filing
Board MeetingMSUMI
2025
19Dec

Board Meeting

Consider and approve the Employee Stock Option Scheme

BSE Filing
DividendMSUMI
2025
23Jun

₹0.35 / share

BSE Filing
Board MeetingMSUMI
2025
29May

Board Meeting

Issuance of Bonus Shares

BSE Filing
Board MeetingMSUMI
2025
21Mar

Board Meeting

Consider and approve Board Meeting Intimation, declaration o…

BSE Filing
Board MeetingMSUMI
2024
31Jan

Board Meeting

Consideration and approval of unaudited financial results fo…

BSE Filing
Board MeetingMSUMI
2023
31Oct

Board Meeting

Approval of unaudited financial results for Q2 and H1 ending…

BSE Filing