Q1 2026 Motherson Sumi Wiring India Ltd Earnings Call Transcript
Key Points
- Motherson Sumi Wiring India Ltd (BOM:543498) reported strong revenue of INR2,494 crores for Q1 FY26, with a 15% year-on-year growth in EBITDA.
- The company has outpaced the industry, benefiting from a favorable volume and content mix and its presence in new OEM models.
- New greenfield projects contributed INR156 crores to the revenue, indicating successful expansion efforts.
- The company is seeing increased revenue contributions from electric vehicles (EVs), with content value in EV programs increasing by 1.5 to 1.7 times compared to internal combustion engine models.
- The company maintains a long-term partnership approach with customers, focusing on mutual growth and collaboration.
- There was a sharp increase in staff costs due to the hiring and training of manpower for new expansion units, impacting current quarter expenses.
- Copper price inflation has had a marginal impact on costs, although it is expected to neutralize over time through pass-through arrangements.
- Delays in ramping up greenfield projects, particularly in Gujarat, have affected optimal utilization timelines.
- Margins for ex-greenfield operations have decreased slightly due to changes in product mix.
- The company faces uncertainties in achieving optimal utilization levels for new plants, with some projects experiencing delays.
Ladies and gentlemen, good day and welcome to the Q1 FY26 results conference call hosted by Motherson Sumi Wiring India Limited. (Operator Instructions) Please note that this conference has been recorded.
I now hand the conference over to Mr. V. C. Sehgal from Motherson Sumi Wiring India Limited. Thank you and over to you, sir.
Thank you. Good evening, ladies and gentlemen. Thank you for joining the results conference call of MSWI. I am pleased to announce that the Board has approved the results for the first quarter of the fiscal year 2026. The company has delivered a strong revenue of INR2,494 crores during the quarter, out of which the new greenfields contributed approximately INR156 crores. EBITDA for the quarter stood at INR209 crores, which is 15% growth year on year.
MSWI has significantly outpaced the industry, demonstrating a favorable volume and content mix further bolstered by our presence across the majority of the new models
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