Motherson Sumi Wiring India (MSUMI) Q4 24/25 earnings summary

Executive summary

• Achieved record quarterly and full-year revenues and EBITDA for FY2025, outpacing industry growth rates and volume increases.

• Audited financial results for FY25 were approved and published with an unmodified audit opinion confirming compliance.

• Supplies wiring harnesses to 9 of the top 10 selling passenger vehicle models in India.

• One of three greenfield plants began production in FY25; others are on track for FY26 launches.

• A final dividend of INR 0.35 per equity share was recommended, pending shareholder approval.

Financial highlights

• FY25 revenue reached ₹9,320.28 crore, up from ₹8,328.25 crore in FY24, with 12% YoY growth reported in some segments.

• Q4FY25 revenue was ₹2,510 crore, up 7.1% YoY; Q4FY25 EBITDA was ₹271 crore (reported), with adjusted EBITDA at ₹297 crore.

• FY25 net profit was ₹605.86 crore, with adjusted PAT (ex-greenfields) at ₹705 crore.

• Greenfield plant revenue reached INR 119 crore, with 4% of total revenue from EV-related business.

• Gross margins declined YoY and QoQ due to product mix and copper price pass-through lag.

Outlook and guidance

• Two additional greenfield plants are scheduled to commence production in FY26, with optimal utilization expected in H2.

• Annualized sales from three new greenfields projected at INR 2,100 crore once fully ramped up.

• CapEx for FY2026 planned at approximately INR 200 crore.

• Management maintains a target ROCE above 40%, with FY25 achieving 42%.

• Board recommended a final dividend of INR 0.35 per share for FY25, subject to approval.