Motherson Sumi Wiring India (MSUMI) Q2 26/27 earnings summary

Executive summary

• Q2 FY27 revenue was ₹4,053.83 crore, up 47% YoY and 19% QoQ; profit for the period rose 35% YoY to ₹223.37 crore.

• Premiumization, higher content per vehicle, new EV/ICE model wins and Greenfield ramp-ups supported growth amid copper and other cost pressures.

Financial highlights

• Q2 FY27 revenue excluding copper inflation grew 35% YoY, versus reported growth of 47%; copper inflation contributed 12% to revenue growth and is passed through to customers.

• Q2 EBITDA increased 34% YoY to ₹374 crore; PBT rose 35% to ₹299.33 crore.

• H1 FY27 revenue rose 42% to ₹7,461.09 crore; EBITDA increased 21% to ₹632 crore and profit for the period rose 20% to ₹368.69 crore.

• Q2 total income was ₹4,054.97 crore and total expenses were ₹3,755.64 crore; H1 total income was ₹7,467.61 crore and expenses were ₹6,972.90 crore.

Outlook and guidance

• Healthy industry growth, premiumization and ongoing model launches support the outlook; growth comparisons may moderate against last year's GST-cut-boosted base.

• Q3 is typically a strong festive quarter, though the Shradh period may temper the seasonal pattern; management was hopeful momentum would continue.

• Copper and wage recovery discussions continue; FY27 capex is guided at ~INR 200 crore, with FY28 capacity investment dependent on customer schedules and growth needs.