Motherson Sumi Wiring India Limited has informed the Exchange about Transcript
MSUMI · price
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Motherson Sumi Wiring India Limited reported record annual revenues crossing INR10,000 crores for the first time, with Q4 FY26 revenue growth of 33% year-on-year. The company faces temporary gross margin compression of 2.9% due to a significant 18% sequential rise in copper prices, which is being passed through to customers with a 3-6 month lag. Copper constitutes 24-28% of COGS, and the company estimates a 2-2.5% bottom-line impact from copper price lag in Q4. Three greenfield plants (Kharkhoda at ~80%, Navagam at ~60%, Pune at ~40-50% utilization) contributed INR440 crores quarterly revenue, with full-year greenfield start-up costs of INR127 crores. Management guided for ~INR200 crores capex in FY27, combining greenfield expansion, automation, and replacement capex. The company remains debt-free and focuses on ROCE (~40% this year).
The stock may see limited downside as management expects margins to normalize once copper prices stabilize and greenfield plants reach full utilization. Near-term profitability will remain pressured by copper lag effects and ramp-up costs at Pune plant.