SAMVRDHNA MTHRSN INTL Q2 FY27 results: net profit up 44.0% to ₹1,218 crore, revenue up 26.9%

How did SAMVRDHNA MTHRSN INTL perform in Q2 FY27?

Samvardhana Motherson International Ltd reported consolidated revenue of ₹38,280 crore for Q2 FY27, up 26.9% from ₹30,173 crore in the year-ago quarter and 8.6% from ₹35,244 crore in Q1 FY27. EBITDA was ₹3,357 crore, up 28.6% year on year and 8.4% sequentially, while the EBITDA margin was 8.8% against 8.7% a year earlier and unchanged from the previous quarter.

Profit after tax was ₹1,218 crore, compared with ₹845.63 crore in Q2 FY26 and ₹1,076 crore in Q1 FY27. Profit attributable to owners was ₹1,175 crore, and basic EPS was ₹1.11 against ₹0.78 a year earlier and ₹0.98 in the previous quarter. On the standalone basis, revenue was ₹4,040.89 crore and profit after tax was ₹451.38 crore.

What changed in SAMVRDHNA MTHRSN INTL's costs and profit?

Total expenses rose 26.3% to ₹36,847 crore from ₹29,167 crore in Q2 FY26, broadly tracking the rise in revenue. Cost of materials increased ₹5,054 crore, or 30.9%, to ₹21,392 crore, while employee cost rose ₹1,981 crore, or 26.6%, to ₹9,421 crore. Other expenses were up ₹986.34 crore at ₹4,606 crore, finance costs rose ₹138.21 crore to ₹524.75 crore and depreciation increased ₹181.28 crore to ₹1,399 crore.

Other income fell ₹41.15 crore, or 33.9%, to ₹80.07 crore from ₹121.22 crore. There was no exceptional item in Q2 FY27, against an exceptional charge of ₹36.16 crore in Q2 FY26. Tax was ₹487.54 crore, up ₹96.16 crore or 24.6%, and profit before tax rose 38.7% to ₹1,513 crore. Management said revenue growth was driven by Autoelectric and Yutaka Giken integration and wiring harness performance, while margins were affected by the integration of newly acquired assets.

How did the first half of FY27 go?

For the first half of FY27, consolidated revenue was ₹73,524 crore, up 21.8% from ₹60,385 crore in H1 FY26, and total income rose 21.6% to ₹73,685 crore. Profit before tax increased 56.3% to ₹2,874 crore, while net profit rose 58.0% to ₹2,293 crore from ₹1,452 crore. Basic EPS for the half year was ₹2.09 against ₹1.27.

What do the balance sheet and cash flow show?

As on 30 September 2026, total assets stood at ₹122,847 crore against ₹110,495 crore on 31 March 2026. Total equity rose to ₹48,368 crore from ₹43,659 crore, and borrowings increased to ₹19,354.79 crore from ₹15,894.93 crore. Cash and cash equivalents were ₹9,795.8 crore compared with ₹7,515.82 crore, while inventories rose to ₹16,434 crore from ₹12,647 crore. Trade receivables were ₹22,188 crore against ₹19,881 crore and trade payables ₹31,097 crore against ₹28,165 crore.

Operating cash flow for H1 FY27 was ₹2,810.92 crore, lower than ₹3,419.13 crore in H1 FY26. Investing cash flow was an outflow of ₹1,683.4 crore against an outflow of ₹2,389.55 crore, and financing cash flow was an inflow of ₹1,054.45 crore compared with an outflow of ₹189.68 crore. Capital expenditure was ₹3,760.84 crore in H1 FY27 against ₹2,695.23 crore a year earlier.

How has SAMVRDHNA MTHRSN INTL done over the last 8 quarters?

Revenue rose in each of the last eight quarters on a year-on-year basis and profit rose in each of the last four quarters. Quarterly revenue reached ₹38,280 crore in Q2 FY27, the highest in the series shown, after ₹35,244 crore in Q1 FY27 and ₹34,309 crore in Q4 FY26. The lowest revenue in the series was ₹27,666 crore in Q3 FY25.

EBITDA margin peaked at 11.0% in Q4 FY26 and was 8.8% in Q2 FY27, the same level as Q1 FY27. The lowest margin in the series was 8.1% in Q1 FY26. Net profit was ₹1,218 crore in Q2 FY27, above ₹1,562 crore's lower comparison point of ₹1,075.66 crore in Q1 FY27, while the series low was ₹606.09 crore in Q1 FY26.

Which businesses drove the quarter?

Wiring harness recorded revenue of ₹14,382 crore, up 68.2% from ₹8,550 crore in the year-ago quarter, with EBIT of ₹1,432 crore against ₹894 crore and an EBIT margin of 10.0%. Emerging businesses posted revenue of ₹6,452 crore, up 61.3% from ₹4,001 crore, with EBIT of ₹543 crore against ₹380 crore and an EBIT margin of 8.4%.

Modules and polymer products reported revenue of ₹15,956 crore, up 3.8% from ₹15,374 crore, with EBIT of ₹1,324 crore against ₹1,138 crore and an EBIT margin of 8.3%. Vision systems revenue was ₹5,418 crore, up 6.6% from ₹5,084 crore, with EBIT of ₹499 crore against ₹469 crore and an EBIT margin of 9.2%. Integrated Assemblies revenue was ₹2,650 crore, up 2.7% from ₹2,580 crore, with EBIT of ₹325 crore against ₹315 crore and an EBIT margin of 12.3%.

What else did the company announce?

On 5 November 2026, the board approved the acquisition of 100% of Golden Bridge Sociedad Anónima, a special purpose vehicle incorporated in Paraguay with nil turnover, to set up a new wiring harness manufacturing facility at Guarambaré in the Greater Asunción area. The purchase price was USD 1 plus an associated legal fee of approximately USD 8,000, and the target will be further capitalised in tranches with share capital of PYG 68,430 million, approximately EUR 10 million. The acquisition is expected to be completed within Q3 of FY 2026-27.

The same-day filing also stated that Motherson Global Investments B.V. (99%) and PKC Wiring Systems OY (1%) will hold the target's equity. The company said the move would support regional growth and provide a fast-track option for customers by acquiring an existing entity instead of incorporating a new one. No dividend or fund raise was reported in the same-day filings, and the results board meeting ran from 1200 Hours to 1450 Hours (IST).

What did SAMVRDHNA MTHRSN INTL's management say?

Management said FY27 capex guidance is Rs. 6,000 Cr (+/-10%), with Q2 FY27 capex of Rs 1,971 Cr, or 59% of EBITDA. The company expects spending to be split approximately 50% between growth and regular capex, with approximately 60% directed to non-auto businesses, and said 17 facilities are at different stages of completion, with one plant operationalised during the quarter and five expansions announced. Management also reported an all-time-high booked business of USD 106 billion and a stable net leverage ratio of 0.8x, with Rs 17,474 Crores of liquidity.

Management said cost optimisation, automation and continued cost pass-through are expected to support margin improvement, with acquisition synergies also helping. It flagged input-cost pressure, noting that copper prices rose 6% QoQ, crude oil surged approximately 24% since Aug-end and German polymer prices increased 44% YoY. Management also said global light-vehicle production declined, led by China, rising inflation and interest rates may weigh on demand, and the RBI repo rate increased to 5.5% in Oct-26.

How did SAMVRDHNA MTHRSN INTL shares react?

The stock was up 5.5% on the reaction day from its pre-results close, against a 1.2% median move for the Auto Components & Equipments industry, an excess move of 4.3 percentage points. Immediately after the filing appeared, the price was down 0.4% after 5 minutes, down 2.3% after 15 minutes and down 0.8% after 30 minutes, before closing higher on the day. Earlier results-day moves were mixed, including 5.5% on 13 November 2025, 4.1% on 10 February 2026 and 6.1% lower on 12 November 2024.

How did other Auto Components & Equipments companies do?

Fifty-five other Auto Components & Equipments companies have filed for this quarter, with a median revenue growth of 33.0%. Of those, 20 grew slower than Samvardhana Motherson International and 34 grew faster than the company, which reported revenue growth of 26.9%. Out of 56 peers compared for profit, 43 reported higher profit.