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

Executive summary

• Delivered strong, resilient performance in Q3 FY26 with robust year-on-year growth in revenue, EBITDA, and profitability, despite copper price pressures and a mixed operating environment.

• Maintained a debt-free status and robust cash flow, with net debt position negative as of December 2025.

• Increased EV revenue share to 5.8% in Q3 FY26.

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

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.

• EBITDA margin for Q3 FY26 was 11.3%, and for 9M FY26 was 11.9%.

• Basic and diluted EPS for Q3 FY26 were ₹0.23, adjusted for the bonus issue.

• Greenfield operations contributed to growth, though some ramp-ups were slower than expected.

Outlook and guidance

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

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

• Ongoing discussions with customers to finalize future capacity expansions as utilization nears 80%.

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