Motherson Sumi Wiring India (MSUMI) Q1 24/25 earnings summary

Executive summary

• Q1 FY25 revenue grew 17% year-over-year to INR 2,185 crore, driven by increased volumes and higher content across all segments, including EV, CV, and two-wheelers.

• EBITDA rose 15% year-over-year to INR 239 crore, with margins slightly down to 10.9% from 11.1%.

• PAT increased 21% year-over-year to INR 149 crore, reflecting operational efficiencies despite higher raw material costs.

• EV segment revenue surged 50% year-over-year, now comprising approximately 5% of total revenue.

• The company remains debt-free and continues to focus on operational excellence and financial prudence.

Financial highlights

• Revenue from operations for Q1 FY25 was INR 2,185 crore, up from INR 1,872 crore in Q1 FY24.

• EBITDA for the quarter was INR 239 crore, up 15% year-over-year; margin at 10.9%.

• PAT for Q1 FY25 was INR 149 crore, up from INR 123 crore in Q1 FY24.

• PBT for Q1 FY25 stood at INR 198 crore, compared to INR 166 crore in Q1 FY24.

• EPS for Q1 FY25 was INR 0.34, compared to INR 0.28 in Q1 FY24.

Outlook and guidance

• One new plant in Pune commenced operations in Q1 and is expected to ramp up fully by Q2/Q3; another plant in Navagam will come online in Q1 FY26 due to a customer delay.

• CAPEX guidance for FY25 is approximately INR 200 crore.

• Management expects industry volumes to nearly double over the next three to five years, with further plant expansions anticipated.

• Continued focus on operational efficiency and financial prudence.