Motherson Sumi Wiring India Q2 FY27 results: net profit up 35.1% to ₹223.37 crore, revenue up 46.8%

How did Motherson Sumi Wiring India perform in Q2 FY27?

Motherson Sumi Wiring India reported standalone revenue of ₹4,054 crore for Q2 FY27, up 46.8% from ₹2,762 crore in Q2 FY26 and 19.0% from ₹3,407 crore in Q1 FY27. EBITDA rose to ₹373.58 crore from ₹279.68 crore a year earlier and ₹258.25 crore in the previous quarter. The EBITDA margin was 9.2%, up 1.6 percentage points sequentially but down 0.9 percentage points year on year.

Profit before tax was ₹299.33 crore, compared with ₹221 crore in Q2 FY26 and ₹195.38 crore in Q1 FY27. Net profit was ₹223.37 crore, up from ₹165.34 crore a year earlier and ₹145.32 crore in the previous quarter, while basic EPS was ₹0.34 against ₹0.25 and ₹0.22, respectively. The results were approved by the board on 30 October 2026 and carried an unmodified review opinion from the independent auditor.

What changed in Motherson Sumi Wiring India's costs and profit?

Total expenses rose ₹1,214 crore year on year to ₹3,756 crore, led by a ₹1,036 crore increase in cost of materials to ₹2,905 crore. Employee cost increased ₹145.75 crore to ₹625.87 crore, finance costs rose ₹8.15 crore to ₹14.52 crore, depreciation increased ₹7.75 crore to ₹60.87 crore and other expenses rose ₹29.89 crore to ₹203.12 crore. Other income increased ₹0.33 crore to ₹1.14 crore, and there was no exceptional item.

Sequentially, total expenses increased ₹538.38 crore from ₹3,217 crore, with cost of materials up ₹498.22 crore and employee cost up ₹24.37 crore. Other income fell ₹4.24 crore from ₹5.38 crore, while finance costs rose ₹6.41 crore, depreciation increased ₹0.73 crore and other expenses rose ₹10.83 crore. Tax expense increased ₹25.90 crore to ₹75.96 crore; profit before tax rose ₹103.95 crore to ₹299.33 crore.

Management said copper prices increased approximately 6% sequentially and 54% year on year, and that copper recovery from most customers typically has a lag of about three months. Management also identified minimum-wage revisions and other inflationary pressures as operating-margin headwinds, while quality-related headwinds persisted. The filing did not provide a separate quantified bridge for each profit driver.

How did the first half of FY27 go?

For H1 FY27, Motherson Sumi Wiring India reported revenue of ₹7,461 crore, up 42.0% from ₹5,256 crore in H1 FY26. Total income rose 42.0% to ₹7,468 crore, while profit before tax increased 20.5% to ₹494.71 crore and net profit rose 19.5% to ₹368.69 crore. Basic EPS for the first half was ₹0.56, compared with ₹0.47 in the year-ago period.

The first-half cost of materials consumed was ₹5,313 crore and employee benefit expense was ₹1,227 crore, according to the filing. The company reported no exceptional income or expense for H1 FY27 or H1 FY26, while total tax expense was ₹126.02 crore in H1 FY27 and ₹102.19 crore in H1 FY26.

What do the balance sheet and cash flow show?

At 30 September 2026, total assets were ₹4,893 crore, compared with ₹4,746 crore at 31 March 2026. Total equity was ₹2,141 crore against ₹2,162 crore, borrowings were ₹101.44 crore against ₹233.17 crore, and cash and cash equivalents were ₹43.41 crore against ₹66.24 crore. Inventories increased to ₹1,900 crore from ₹1,730 crore, trade receivables rose to ₹1,929 crore from ₹1,884 crore, and trade payables were ₹1,996 crore against ₹1,983 crore.

H1 FY27 operating cash flow was ₹432.66 crore, compared with ₹604.94 crore in H1 FY26. Investing cash flow was negative ₹76.84 crore against negative ₹115.95 crore, financing cash flow was negative ₹378.65 crore against negative ₹439.96 crore, and capital expenditure was ₹81.03 crore against ₹116.28 crore. A closing-cash figure was not provided in the filing excerpt.

How has Motherson Sumi Wiring India done over the last 8 quarters?

Revenue rose year on year in each of the last eight quarters. It reached ₹4,054 crore in Q2 FY27, the highest level in the reported series, after rising from ₹3,407 crore in Q1 FY27. Net profit also reached a series high of ₹223.37 crore in Q2 FY27, following ₹145.32 crore in Q1 FY27, while profit had earlier bottomed at ₹139.98 crore in Q3 FY25.

The EBITDA margin bottomed at 7.6% in Q1 FY27 and recovered to 9.2% in Q2 FY27, after reaching 10.8% in Q4 FY25. Revenue and net profit have both moved upward from their Q1 FY27 levels, and profit rose year on year in each of the last five quarters. The margin remains below its recent peak despite the sequential improvement.

What did Motherson Sumi Wiring India's management say?

Management maintained FY27 capital expenditure guidance at approximately Rs. 200 crores, largely in line with the previous year, and did not provide a revenue or margin target. The company expects healthy industry-linked growth in H2 FY27, although percentage growth may be less wide than in the prior year. Management also said copper recovery should emerge next quarter for most customers, with a typical three-month lag and up to six months in some cases.

Management said all three Greenfield plants had reached optimal utilisation and that electric vehicles contributed 10% of Q2 revenue and 9.3% of H1 FY27 revenue. Chairman Vivek Chaand Sehgal said, “We remain confident about the long-term prospects of the automotive industry in India and will continue to invest in capabilities and keep capacity in line with our customers' evolving requirements.” Director Laksh Vaaman Sehgal said, “The ramp-ups have progressed well with the plants now operating at an optimal utilization level.”

During the investor call, management identified customer recovery of copper, minimum-wage and other inflation as ongoing negotiations and risks. Management also noted that H2 FY27 would face a higher base following the prior-year GST reduction and that quality-related headwinds remained. On the question of second-half growth, management said percentage growth could be narrower than in the previous year while new vehicle programmes continued to come in.

How did Motherson Sumi Wiring India shares react?

After the filing appeared after market on 30 October 2026, the stock was up 3.2% after five minutes, 2.6% after 15 minutes and 2.4% after 30 minutes. From the previous close of ₹34.60, the reaction-day close was 12.4% higher at the reference price of ₹38.00. By the next day's close, the stock was up 12.2% from its pre-results close.

Earlier results-day moves were mixed: the stock fell 4.5% on 4 August 2026 and 2.1% on 28 July 2025, while it rose 0.7% on 28 April 2026, 2.1% on 30 January 2026, 1.5% on 5 November 2025 and 2.0% on 9 May 2025. It also fell 1.1% on 6 February 2025 and 0.7% on 8 November 2024.

How did other Auto Components & Equipments companies do?

Among 45 other Auto Components & Equipments companies that filed for the quarter, the median revenue growth was 33.6%. Thirty-five peers grew slower than Motherson Sumi Wiring India, while 10 peers grew faster than the company. The company’s revenue growth of 46.8% was above the peer median.

Profit was higher for 36 of the 46 peers assessed for profit growth. The peer data were recorded as of 4 November 2026.