MSUMI · Automobile and Auto Components
Motherson Sumi Wiring India Ltd. reported revenue of ₹4,054 cr for July to September 2026, +46.8% on the year and +19.0% on the quarter. That is faster than this quarter has grown in recent years (+14.5% on average), so the year-on-year number is not just the season. It is the highest quarterly revenue in the last 12 quarters on record. Over the last four quarters revenue comes to ₹13,683 cr, +35.9% on the four before.
Operating profit (EBITDA) was ₹374 cr, a margin of 9.2%, −91 bps on the year and +165 bps on the quarter. Over the last 8 quarters the margin has ranged from 7.6% to 10.8%, averaging 9.4%. Operating costs grew +48.3%, faster than revenue at +46.8%, so operating profit grew less than sales.
Net profit was ₹223 cr, +35.2% on the year and +53.8% on the quarter, with earnings per share of ₹0.34. Profit before other income, one-offs and tax grew 35.5%, so the profit growth came from the business itself. The tax rate of 25% is in line with its recent average. Profit over the last four quarters totals ₹684 cr, +11.6% on the four before.
Of the 15 companies in Automobiles and components that have reported Q2 FY27 so far, Motherson Sumi Wiring India Ltd. ranks 4th on revenue growth; the sector median is +32.6%. Its margin moved −91 bps on the year against a sector median of −95 bps.
A vehicle maker's revenue is volumes times average price, and its margin moves with steel, aluminium and rubber costs and with the share of exports and premium models. The quarterly statements do not carry volumes, realisation per vehicle and the export share; those come with the filing read.
On earnings per share of ₹1.04 over the last four quarters, the stock at ₹35.47 trades at 34.1 times trailing earnings.
Written from the quarterly statements. The filing read adds the balance sheet and cash flow filed with this quarter, the auditor's review, segment results, one-off items line by line and what management said on the call.
No check fired. That is a statement about the checks below, not a verdict on the company.
Could not run on this quarter: Exceptional items that recur, Cash behind the profit, Receivables against sales, Inventory against sales, Borrowing while holding cash, Auditor's review or audit report, IPO money used as stated, Related-party transactions, Exits, postponements, restatements, Promoter pledges and allotments, Earlier promises against delivery. Most need the filing read (balance sheet, cash flow, auditor, disclosures).
Net profit a year ago, each driver's change, and net profit now. Blue added profit, red took it away.
This quarter's filing carries a balance sheet and a cash flow statement. The cash, receivables and borrowing checks run once the filing read is in.
| Q3 FY24 | Q4 FY24 | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 | Q2 FY27 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ₹2,115 cr | ₹2,233 cr | ₹2,185 cr | ₹2,326 cr | ₹2,300 cr | ₹2,510 cr | ₹2,494 cr | ₹2,762 cr | ₹2,887 cr | ₹3,335 cr | ₹3,407 cr | ₹4,054 cr |
| YoY | — | — | +18% | +10% | +9% | +12% | +14% | +19% | +26% | +33% | +37% | +47% |
| EBITDA margin | 12.4% | 13.0% | 10.9% | 10.7% | 10.3% | 10.8% | 9.8% | 10.1% | 9.1% | 8.2% | 7.6% | 9.2% |
| Other income, % of PBT | 0% | 2% | 3% | 2% | 1% | 1% | 1% | 0% | 1% | 0% | 3% | 0% |
| Exceptional items | — | — | — | — | — | — | — | — | — | — | — | — |
| Tax rate | 23% | 24% | 25% | 25% | 24% | 25% | 25% | 25% | 25% | 21% | 26% | 25% |
| Net profit | ₹168 cr | ₹191 cr | ₹149 cr | ₹152 cr | ₹140 cr | ₹165 cr | ₹143 cr | ₹165 cr | ₹149 cr | ₹167 cr | ₹145 cr | ₹223 cr |
| YoY | — | — | +21% | −3% | −17% | −14% | −4% | +9% | +6% | +1% | +1% | +35% |
| Core profit YoY | — | — | +27% | −5% | −16% | −11% | −2% | +11% | +8% | −3% | +1% | +35% |
| EPS | ₹0.25 | ₹0.29 | ₹0.22 | ₹0.23 | ₹0.21 | ₹0.25 | ₹0.22 | ₹0.25 | ₹0.23 | ₹0.25 | ₹0.22 | ₹0.34 |
| Flags | · | · | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ |
Each quarter is read with the same rules. Balance-sheet and cash checks run on half-year and annual quarters; filing-read checks run where a read exists.
Motherson Sumi Wiring India Ltd. reported revenue of ₹4,054 cr (+46.8% on the year) and net profit of ₹223 cr (+35.2% on the year) for July to September 2026.
Profit before other income, exceptional items and tax moved +35.5% on the year, against +35.2% for reported profit.
None of the 8 checks that could run raised a question.
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