Motherson Sumi Wiring India (MSUMI) Q3 25/26 earnings summary

Executive summary

• Delivered strong revenue and EBITDA growth in Q3 FY26, maintaining a debt-free status and resilient performance despite copper price pressures.

• Unaudited financial results for Q3 and nine months ended December 31, 2025, were approved by the Board and reviewed by the Audit Committee.

• Increased EV revenue share to 5.8% in Q3 FY26, with strategic focus on supporting OEMs through powertrain transitions.

Financial highlights

• Q3 FY26 revenue rose 25.5% YoY to ₹2,887 crore; EBITDA up 10.5% YoY to ₹263 crore; PAT increased 6.4% YoY to ₹149 crore.

• For 9M FY26, revenue grew 19.6% YoY to ₹8,143 crore; EBITDA up 8.4% YoY to ₹787 crore; PAT up 3.9% YoY to ₹458 crore.

• Basic and diluted EPS for Q3 FY26 were ₹0.23, adjusted for the bonus issue; EPS for nine months was ₹0.69.

• Revenue growth outpaced industry, with company growing by 25% year-on-year compared to industry growth in the mid-teens.

• Copper inflation impacted margins by approximately 1.9%-2% in the quarter.

Outlook and guidance

• Greenfield plants expected to reach optimal utilization in the next 2-3 quarters, improving margins as ramp-up continues.

• CapEx for FY26 projected at INR 220 crore, with INR 150 crore already incurred; next year's CapEx to be finalized soon.

• Ongoing evaluation for new facilities as existing plants approach 80% utilization.

• Greenfield units are ramping up as planned, though some locations experienced delayed or lower-than-expected customer volumes.