MSUMI

Motherson Sumi Wiring India share price & financials

Price
₹38.03
Market cap
₹27.3k Cr
Sector
Automobile and Auto Components
Calls analysed
7
Latest concall · Q1 FY27 · call held 04 Aug 2026

Motherson Sumi Wiring India Limited Q1 FY27

Revenue Growth 37% EV Revenue Contribution 8.5% Copper Inflation Impact on Revenue Growth 7% Greenfield Revenue Run Rate ₹450 cr

What went well

  • Revenue growth of 37% in Q1 FY27, driven by volume growth, content increase, premiumization, and new model launches.
  • Strong contribution from EVs, accounting for 8.5% of Q1 revenues.
  • Greenfield projects reached break-even in the previous quarter and maintained a revenue run rate of INR 450 crores in Q1 FY27.

What to watch

  • Elevated copper prices and increased manpower costs (including 35-40% wage hikes in NCR regions) impacted profitability in Q1 FY27.
  • A copper price lag of 7% impacted gross margins in Q1 FY27, though this is an improvement from 17% in the preceding quarter.
Read the full call →

What Motherson Sumi Wiring India Limited does

Motherson Sumi Wiring India Limited (MSWIL) designs, manufactures and assembles wiring harnesses and related electrical components for passenger vehicles, commercial vehicles, two-wheelers, off-road and agricultural machinery. It serves internal combustion engine (ICE), hybrid, CNG and electric vehicle (EV) platforms with both low- and high-voltage harness systems, including 400V/800V and dual-voltage designs for EVs and hybrids. MSWIL operates as a joint venture between Samvardhana Motherson International Limited (SAMIL) and Sumitomo Wiring Systems Ltd (SWS), a global wiring-harness technology leader, and earns revenue by supplying these harness systems in-sequence to automotive OEM assembly lines across India.

Segments

  • Passenger Vehicles
  • Two-Wheelers
  • Commercial Vehicles
  • Off-road, Agriculture & Farm Equipment
  • Others
Manufacturing facilities
30 wiring-harness facilities across India
Employees
60,000+
Greenfield facilities added (last 3 years)
7 new Greenfield plants (expanding from 23 to 30)
Geographic footprint
Facilities across Kharkhoda, Pathredi, Haldwani, Faridabad, Gurugram, Noida, Pithampur/Indore, Sanand, Navagam, Lucknow, Nashik, Pune, Bengaluru and Chennai, located near OEM customer clusters
OEM model coverage
Supplies wiring harnesses for 9 of the top 10 best-selling passenger vehicle models in India (FY26)
Plants on solar power
15 plants running on solar power
Headquarters Mumbai, Maharashtra, IndiaEmployees 60,000 (FY26 (Q4FY26 presentatio) Company website

Guidance record · Q1 FY27

what the last two calls moved 12 tracked 3 delivered 5 missed 4 open
  • Greenfield Startup Cost Normalization delivered said Q3 FY25 Promised: Q2-Q3 FY26 Q1 FY27: Management confirms greenfield projects reached break-even in Q4 FY26 and maintained it in Q1 FY27. This achieves the goal of cost normalization, although later than the original Q3 FY26 target.
  • Incremental Annual Revenue from Greenfields missed said Q3 FY25 Promised: ₹2,100 crores by FY26 Q1 FY27: Greenfield revenue maintained at a run rate of ₹450 crores for the quarter (annualized ₹1,800 crores), still below the revised target of ₹2,000 crores.
  • FY27 Capex on track said Q4 FY26 Promised: ~₹200 crores Q1 FY27: Management confirmed capex for the current year is budgeted and will be funded by internal accruals, but did not re-state the ₹200 crore amount. New expansion plans to be announced in coming quarters.

All 12 tracked — every revision, and every one management stopped mentioning.

Open the guidance ledger

Quarterly results

Q1 FY27: revenue up 36.6%, net profit up 1.4% against the same quarter last year.

₹ Cr · quarterly
Line itemQ2 FY25Q3 FY25Q4 FY25Q1 FY26Q2 FY26Q3 FY26Q4 FY26Q1 FY27
Revenue2,326 2,300 2,510 2,494 2,762 +19%2,887 +26%3,335 +33%3,407 +37%
EBITDA250 238 271 244 280 +12%262 +10%274 +1%258 +6%
Net profit152 140 165 143 165 +9%149 +6%167 +1%145 +1%
How to read this

₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.

Performance −25.8% 1Y

₹35.0₹40.0₹45.0₹50.0Sept 25Oct 25Dec 25Jan 26Mar 26Apr 26Jun 26Jul 26Sept 26Q1 FY26 — 12 Sept 2025Q2 FY26 — 4 Nov 2025Q3 FY26 — 30 Jan 2026Q4 FY26 — 4 May 2026Q1 FY27 — 4 Aug 2026

1Y: ₹48.91 on 10 Sept 2025 → ₹36.3. High ₹52.05 (5 Jan 2026), low ₹35.89 (23 Mar 2026).

How the price took the results

close before → close after

Q1 FY27
−4.2%
4 Aug
Q4 FY26
+2.3%
4 May
Q3 FY26
+2.4%
30 Jan
Q2 FY26
+1.7%
5 Nov

The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.

Financials, as filed

Revenue grew 17.6% a year over 3 years, FY23 to FY26. Operating margin narrowed to 9.2%.

Year endingFY23FY24FY25FY26
Revenue₹7.1k Cr₹8.3k Cr₹9.3k Cr₹11.5k Cr
Operating profit₹780 Cr₹1.0k Cr₹998 Cr₹1.1k Cr
Operating margin11.0%12.0%10.7%9.2%
Interest₹29 Cr₹27 Cr₹25 Cr₹25 Cr
Depreciation₹125 Cr₹147 Cr₹179 Cr₹215 Cr
Net profit₹486 Cr₹638 Cr₹606 Cr₹624 Cr
Net margin6.9%7.7%6.5%5.4%
ROCE44.0%48.0%43.0%39.0%
How to read this

From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.

Balance sheet

Year endingFY21FY22FY23FY24FY25FY26
Equity capital₹0 Cr₹316 Cr₹442 Cr₹442 Cr₹663 Cr₹663 Cr
Reserves₹0 Cr₹799 Cr₹888 Cr₹1.2k Cr₹1.2k Cr₹1.5k Cr
Borrowings₹96 Cr₹283 Cr₹373 Cr₹259 Cr₹253 Cr₹233 Cr
Other liabilities₹1.7k Cr₹1.2k Cr₹1.2k Cr₹1.2k Cr₹1.9k Cr₹2.4k Cr
Total liabilities₹1.8k Cr₹2.6k Cr₹2.9k Cr₹3.1k Cr₹4.0k Cr₹4.7k Cr
Fixed assets₹170 Cr₹432 Cr₹579 Cr₹600 Cr₹716 Cr₹779 Cr
Capital work in progress₹0 Cr₹32 Cr₹27 Cr₹24 Cr₹53 Cr₹2 Cr
Investments₹0 Cr₹0 Cr₹0 Cr₹0 Cr₹0 Cr₹0 Cr
Other assets₹1.6k Cr₹2.1k Cr₹2.3k Cr₹2.5k Cr₹3.2k Cr₹4.0k Cr
Total assets₹1.8k Cr₹2.6k Cr₹2.9k Cr₹3.1k Cr₹4.0k Cr₹4.7k Cr
How to read this

As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.

Who owns it

As disclosed at Jun 2026

Since Jun 2025, DIIs added +1.61 pp while FIIs trimmed −1.46 pp. The shareholder count shrank 6% to 8,74,956.

Promoters
61.7%
FIIs
8.9%
DIIs
17.9%
Government
0.0%
Public
11.5%

Since Jun 2025

  • DIIs +1.61 pp
  • FIIs −1.46 pp
  • Public −0.17 pp

How it drifted, 12 quarters

Over this window FIIs fell from 11.1% to 8.9% — −2.2 pp.

Sep '23Dec '24Jun '26

Ownership split by quarter, oldest first. Sep '23: Promoters 61.8%, FIIs 11.1%, DIIs 17.6%, Government 0.2%, Public 9.4%.Dec '23: Promoters 61.7%, FIIs 11.0%, DIIs 17.1%, Government 0.2%, Public 9.9%.Mar '24: Promoters 61.7%, FIIs 11.0%, DIIs 16.2%, Public 11.1%.Jun '24: Promoters 61.7%, FIIs 10.8%, DIIs 16.2%, Public 11.3%.Sep '24: Promoters 61.7%, FIIs 10.5%, DIIs 16.3%, Public 11.4%.Dec '24: Promoters 61.7%, FIIs 9.9%, DIIs 16.7%, Public 11.7%.Mar '25: Promoters 61.7%, FIIs 10.2%, DIIs 16.2%, Public 11.9%.Jun '25: Promoters 61.7%, FIIs 10.4%, DIIs 16.2%, Public 11.7%.Sep '25: Promoters 61.7%, FIIs 10.3%, DIIs 16.6%, Government 0.0%, Public 11.4%.Dec '25: Promoters 61.7%, FIIs 10.1%, DIIs 17.2%, Government 0.0%, Public 10.9%.Mar '26: Promoters 61.7%, FIIs 9.7%, DIIs 17.4%, Government 0.0%, Public 11.1%.Jun '26: Promoters 61.7%, FIIs 8.9%, DIIs 17.9%, Government 0.0%, Public 11.5%.

Who was buying across the market this quarter →

Who bought this quarter

since Mar 2026

Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.

The same filing shows 1 holder trimming and 3 off the list — both are in the register beside this.

Who is on the register

Named in the Jun 2026 filing

Every holder of Motherson Sumi Wiring India Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.

HolderStakeChange
Samvardhana Motherson International Limited 33.43%unchanged
Sumitomo Wiring Systems Limited 25.10%unchanged
ICICI Prudential Dividend Yield Equity Fund Mutual fund5.63%newly disclosed
SBI Large & Midcap Fund Mutual fund3.13%unchanged
Mr. Vivek Chaand Sehgal 2.32%unchanged
Franklin India Dividend Yield Fund Mutual fund1.20%newly disclosed
360 One Flexicap Fund Mutual fund1.13%newly disclosed
Canara Robeco Mutual Fund A/C Canara Robeco Conser Mutual fund1.02%newly disclosed
UTI Nifty Midsmallcap 400 Momentum Quality 100 Ind Mutual fund1.00%−0.64 pp
Mrs. Geeta Soni 0.27%unchanged
Mrs. Nilu Mehra 0.25%unchanged
H K Wiring Systems, Limited 0.24%unchanged

A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.

Mutual funds in MSUMI

Filings to Aug 2026

1 new, 5 added, 3 trimmed, 0 sold out — net +206.00 L shares (+8.8%).

Held by funds
₹934 Cr
13 schemes
Biggest holder
SBI Midcap Fund
₹441 Cr · 1.8% of that fund
SchemeHoldingLast month
SBI Midcap Fund SBI Mutual Fund₹441 Cr+155.89 L
SBI Large Cap Fund SBI Mutual Fund₹243 Crheld
SBI Large and Midcap Fund SBI Mutual Fund₹105 Crheld
SBI Automotive Opportunities Fund SBI Mutual Fund₹44 Crnew
SBI Contra Fund SBI Mutual Fund₹39 Crheld
Nippon India Innovation Fund Nippon India Mutual Fund₹24 Cr−70.59 L
Nippon India Nifty Smallcap 250 Index Fund Nippon India Mutual Fund₹15 Cr+0.50 L
HDFC Large and Mid Cap Fund HDFC Mutual Fund₹12 Crheld

HDFC, Nippon India and SBI schemes, from their monthly disclosures. Changes are counted in shares, so a price move never looks like buying or selling.

Mutual funds Aug 2026

5 added, 3 trimmed — net +2.06 cr shares (+8.8%)

Funds are sitting on
+14%
vs est. average cost
Held by funds
₹934 Cr
13 schemes · ≈ 3.5% of the company
Biggest holder
SBI Midcap Fund
₹441 Cr · 1.8% of that fund
Longest holder
SBI Large Cap Fund
4y 8m · since Jan '22

Shares held by these funds +39%

Aug '23 23.28 cr shares Jul '26

What the price assumes

Expensive

To justify its price of ₹36, this stock must grow earnings at 25% every year for 7 years. Our analysis caps realistic growth at ~10%. At that growth it is worth ₹17 — downside of 54%.

Growth the price implies
24.8% a year
for 7 years, fading to 4%
It has actually compounded at
9.8% a year
net profit, FY23–FY26 · EPS 9.8%
The gap
0.1 pp
-54% downside if it only repeats history
Price today ₹36.3 Value at the reference growth ₹16.72

Change the assumptions yourself →

All earnings calls (7)

Read the Q1 FY27 call →

Learn to analyse Motherson Sumi Wiring India Limited

Guides on how to read this kind of business and the numbers that matter.