Q1 2027 Motherson Sumi Wiring India Ltd Earnings Call Transcript
Key Points
- Revenue growth outpaced the industry, driven by greenfield expansion and successful ramp-up of new customer programs.
- EV contribution remained strong at 8.5% of total revenue in Q1 FY27.
- Greenfield plants achieved breakeven and maintained revenue run rate of around INR450 crores.
- Company is engine-agnostic and a key supplier to leading ICE and EV platforms, positioning well for future growth.
- Constructive discussions with customers are ongoing to recover cost increases, with a focus on long-term relationships.
- Elevated copper prices and increased manpower costs due to exceptional minimum wage hikes impacted profitability.
- Copper price pass-through lag of 3-6 months continues, with a 7% delta still sitting in current results.
- Minimum wage increases in NCR region (30-40%) have been absorbed, with uncertainty about other states.
- Greenfield plants have not yet started contributing to bottom line margins, with contribution expected only in 1-2 quarters.
- Potential for further cost increases from other state governments remains uncertain, adding to cost headwinds.
Ladies and Gentlemen, good day and welcome to quarter one FY27 Results Conference Call hosted by Motherson Sumi Wiring India Limited. (Operator Instructions). Please note that this conference is being recorded. And now in the conference, go to Mr. Laksh Vaaman Sehgal from Motherson Sumi Wiring India Limited.
Thank you, and over to you, Mr. Sehgal.
Thank you. Good evening, ladies and gentlemen, and thank you for joining us today. I warmly welcome you to the Motherson Sumi Wiring India Limited results call for the first quarter of Flight 27, and I am thankful for your continued support and trust in your company.
I'm pleased to announce that the company has delivered resilient performance during quarter one, reflecting the enduring strength of our customer relationships. Our expansion into greenfield projects and successful ramp-up of new customer programs supported revenue growth, outpacing the industry despite ongoing cost headwinds. Elevated copper prices
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