NSE: MOTHERSON · BSE: 517334
SAMVRDHNA MTHRSN INTL LTD
Manufactures and supplies automotive components to global vehicle makers across five reporting segments. Modules and polymer products is the largest at 42.4% of segment revenue (₹62,894.1 crore, 8.1% EBIT margin), followed by wiring harness at 24.6% (₹36,508.02 crore, 10.8% EBIT margin), vision systems at 14.1% (₹21,000.83 crore, 9.7% EBIT margin), emerging businesses at 11.5% (₹17,071.62 crore, 10.7% EBIT margin) covering consumer electronics, aerospace, lighting and electronics, and integrated assemblies at 7.4% (₹11,034.96 crore, 13.6% EBIT margin). The order book, or "book business", stood at a record USD 96 billion with 22% tied to EV programmes, providing multi-year revenue visibility. FY26 consolidated revenue was ₹126,103.67 crore, up 10.9% year-on-year, with EBITDA margin of 9.36% and net profit of ₹4,085.55 crore. Materials form the biggest input cost at 53.3% of revenue, followed by employee cost at 25.0% and other operating expenses at 11.8%. Capex was ₹6,053.56 crore in FY26 (4.8% of revenue), with FY27 guidance of around ₹6,000 crore split evenly between growth and maintenance. The company has 16 facilities under development in emerging markets, and net debt/EBITDA sits at a record low 0.8x. AR · MarketPing reader · 2026-08-03
Revenue streams, as the annual report describes them. Modules and polymer products (42%), Wiring harness (25%), Vision systems (14%), Emerging businesses (12%), Integrated Assemblies (7%). Cyclical, asset-heavy auto components with diversification into aerospace and consumer electronics
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 63,536 | 78,701 | 98,692 | 1,13,663 | 1,26,104 |
| EBITDA (ex other income) | 4,413 | 6,108 | 9,037 | 10,552 | 11,489 |
| margin % | 6.9 | 7.8 | 9.2 | 9.3 | 9.1 |
| Owners' profit | 874 | 1,496 | 2,716 | 3,803 | 3,860 |
| EPS, as reported (₹) | 2.50 | 2.21 | 4.01 | 5.50 | 3.66 |
| ROE % · ROCE % | 5.3 · 5.7 | 6.8 · 9.4 | 10.7 · 12.5 | 11.2 · 13.0 | 9.4 · 10.9 |
| Debt / equity (x) | 0.57 | 0.50 | 0.61 | 0.46 | 0.36 |
| Cash from operations | 2,463 | 4,643 | 7,569 | 6,286 | 11,284 |
| Capex | (2,508) | (2,221) | (4,125) | (4,561) | (6,054) |
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 27,812 | 27,666 | 29,317 | 30,212 | 30,173 | 31,409 | 34,309 | 35,244 |
| Profit before tax | 1,058 | 1,219 | 1,120 | 748 | 1,091 | 1,386 | 1,817 | 1,361 |
| Net profit | 949 | 984 | 1,115 | 606 | 846 | 1,072 | 1,562 | 1,076 |
| EPS (₹) | 1.29 | 1.25 | 1.49 | 0.48 | 0.78 | 0.97 | 1.42 | 0.98 |
Exhibit 3: Segment revenue, FY26
| Segment | Revenue, ₹ crore | Share % |
|---|---|---|
| Wiring harness | 36,508 | 24.6 |
| Modules and polymer products | 62,894 | 42.4 |
| Vision systems | 21,001 | 14.1 |
| Integrated Assemblies | 11,035 | 7.4 |
| Emerging businesses | 17,072 | 11.5 |
| Total, before eliminations | 1,48,510 | 100.0 |
Exhibit 4: Peers — basic industry group, by market cap
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| SAMVRDHNA MTHRSN INTL LTD ◆ | 1,69,176 | 38.6 | 3.87 | 15.1 | 9.4 | 8.2 | 17.1 | 9.0 |
| BOSCH LIMITED | 1,39,756 | 59.1 | 9.41 | 34.3 | 18.7 | 24.1 | 15.6 | 17.9 |
| BHARAT FORGE LTD | 83,937 | 118.9 | 8.78 | 30.3 | 11.4 | 13.2 | 21.6 | 8.8 |
| UNO MINDA LIMITED | 63,520 | 52.8 | 8.75 | 29.1 | 17.7 | 15.7 | 25.3 | 10.4 |
| SCHAEFFLER INDIA LIMITED | 56,735 | 45.3 | 9.23 | — | 10.4 | 14.1 | — | 19.4 |
| SONA BLW PRECISION FRGS L | 54,705 | 78.5 | 8.92 | 47.5 | 10.3 | 12.9 | — | 25.1 |
| TUBE INVEST OF INDIA LTD | 41,237 | 67.9 | 2.90 | 15.9 | 7.9 | 12.4 | 30.3 | 10.6 |
| ENDURANCE TECHNO. LTD. | 32,484 | 33.5 | 4.75 | 15.9 | 13.9 | 15.6 | 17.4 | 13.2 |
Exhibit 5: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 38.6 | 25.3 | 87 of 119 | 27% |
| P/B | 3.9 | 3.2 | 70 of 117 | 41% |
| ROCE | 8.2 | 12.6 | 86 of 125 | 32% |
| ROE | 9.4 | 11.7 | 73 of 117 | 38% |
| Debt / Equity | 0.4 | 0.3 | 66 of 117 | 44% |
| EBITDA margin | 9.0 | 12.2 | 89 of 118 | 25% |
| Revenue growth | 16.6 | 20.2 | 71 of 113 | 38% |
| Profit growth | 77.5 | 24.4 | 27 of 115 | 77% |
| Market cap | 169176 | 1460 | 1 of 126 | 100% |
Exhibit 6: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 27 Oct 2026 · USD 19,500 penalty rescinded by New York workers compensation board | regulatory legal | medium | — | — |
| 27 Oct 2026 · RBI compounds bonus-share registration violation for Rs 3.59 crore | compliance | minimal | — | — |
| 26 Oct 2026 · NCLT approves Motherson group composite reorganisation | strategic transactions | high | — | — |
| 22 Oct 2026 · Earnings call scheduled for November 5, 2026 | board shareholder meetings | low | — | — |
| 22 Oct 2026 · Board meeting set for November 5 to approve Q2 and H1 results | results | low | — | — |
| 16 Oct 2026 · Motherson pays interest and fractional entitlements on CCD conversion | fund raising | medium | — | — |
| 16 Oct 2026 · Dissolution of non-operating Canadian subsidiary Yachiyo Canada | strategic transactions | medium | — | — |
| 14 Oct 2026 · Motherson US unit gets USD 19,500 workers comp penalty, to appeal | general | medium | — | — |
| 8 Oct 2026 · Motherson allots 10.32 crore shares on CCD conversion at Rs 140.50 | fund raising | high | — | — |
| 8 Oct 2026 · Compliance certificate under Reg 74(5) for Q2 FY26-27 | compliance | minimal | — | — |
How to read this document
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions | an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
Sources, method and disclosures
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.