Motherson Sumi Wiring India (MSUMI) Q2 25/26 earnings summary

Executive summary

• Achieved record quarterly revenue of INR 2,762 crore in Q2 FY26, with 19% year-over-year growth, driven by premiumization, volume increases, and new OEM model launches.

• EBITDA reached INR 280 crore, marking 12% year-on-year growth and surpassing industry benchmarks.

• Successfully commenced production at one of three Greenfield projects, with further ramp-up expected in coming quarters.

• Maintained a debt-free status, with net debt remaining negative after dividend payouts.

• Unaudited financial results for the quarter and half year ended September 30, 2025, were approved by the Board on November 5, 2025.

Financial highlights

• Q2 FY26 revenue was INR 2,762 crore, up 19% year-over-year; EBITDA increased 12% to INR 280 crore; PAT grew 9% to INR 165 crore.

• H1 FY26 revenue reached INR 5,256 crore, up 17% year-over-year; EBITDA up 7% to INR 524 crore; PAT up 2% to INR 308 crore.

• Greenfield revenue for Q2 FY26 was INR 190 crore, up from INR 120 crore in previous quarters.

• EV share of revenue stood at 6.7% for Q2 FY26.

• Basic and diluted EPS for Q2 FY26 were INR 0.25, adjusted for the bonus issue.

Outlook and guidance

• Greenfield utilization at 36%, expected to rise as customer volumes increase; optimal utilization (70-80%) targeted by Q4 FY26 or H1 FY27.

• Greenfield projects are expected to continue ramping up, supporting future growth.

• Ongoing premiumization and new model launches anticipated to sustain above-industry growth.

• CAPEX guidance for FY26 is INR 210 crore; next year’s CAPEX to be finalized based on customer requirements.

• The company continues to operate as a single segment and expects ongoing growth, supported by robust demand in the automotive wiring harness sector.