Motherson Sumi Wiring India Reports Strong Revenue Growth in Q1 FY27 Despite Cost Pressures

Motherson Sumi Wiring India Limited (MSWIL) has announced its financial results and investor presentation for the first quarter of FY2026-27 (Q1 FY27), reporting strong revenue growth driven by new customer programs and capacity expansion. The company outperformed the broader Indian passenger vehicle industry’s 17% year-on-year (YoY) growth, although rising raw material prices and higher labour costs impacted margins.

Motherson Sumi Wiring India Q1 FY27 Highlights

For the quarter ended June 30, 2026, the company reported:

• Revenue from Operations increased 37% YoY to ₹3,407 crore, compared with ₹2,494 crore in Q1 FY26.
• EBITDA grew 6% YoY to ₹258 crore, up from ₹244 crore in the corresponding quarter last year.
• Profit Before Tax (PBT) rose 3% YoY to ₹195 crore, compared with ₹190 crore.
• Profit After Tax (PAT) stood at ₹145 crore, registering a 1% YoY increase over ₹143 crore reported in Q1 FY26.

Growth Driven by New Programs and Capacity Expansion

The company attributed its strong revenue performance to the successful execution of new customer programs and timely commissioning of greenfield manufacturing facilities. These investments enabled MSWIL to capture higher production volumes and strengthen its position in the automotive wiring harness market.

Another notable highlight was the continued growth of its electric vehicle (EV) business. The EV segment contributed 8.5% of total revenue in Q1 FY27, compared with 6.6% during FY26, reflecting increasing demand for wiring solutions used in electric vehicles.

Higher Raw Material and Labour Costs Weigh on Margins

Despite healthy revenue growth, profitability remained under pressure due to rising input costs.

Key challenges during the quarter included:

• Copper prices surged approximately 53% year-on-year and 7% quarter-on-quarter, with average prices reaching ₹1,348 per kilogram.
• Significant minimum wage revisions across multiple states increased employee costs.
• The company is actively engaging with customers to recover higher input costs through pricing adjustments and protect operating margins.

Healthy Balance Sheet

MSWIL continued to maintain a strong financial position.

As of June 30, 2026:

• Net debt (excluding lease liabilities) stood at ₹40 crore.
• Net debt including IND AS 116 lease liabilities was ₹239 crore, indicating a healthy and manageable capital structure.