Motherson (MOTHERSUMI) Q1 24/25 earnings summary

Executive summary

• Q1 FY25 consolidated revenue reached INR 28,900 crore, up 29% year-over-year, with EBITDA rising 44% to INR 2,785 crore and PAT up 65% to INR 994 crore.

• Growth was driven by both organic expansion and completed M&A, with all announced acquisitions closed and integrated.

• Profitability improved due to scale benefits and margin-accretive acquisitions, despite muted industry volume growth.

• The company is advancing its five-year plan, with significant progress in non-automotive diversification and operational expansion.

Financial highlights

• Q1 FY25 revenue: INR 28,900 crore (+29% YoY); EBITDA: INR 2,785 crore (+44% YoY); PAT: INR 994 crore (+65% YoY).

• EBITDA margin improved to 9.6% in Q1 FY25 from 8.6% in Q1 FY24.

• Q1 FY25 includes INR 6,248 crore revenue and INR 688 crore EBITDA from acquired assets.

• Net leverage ratio at quarter-end was 1.5x, reflecting financial prudence.

• CapEx for the quarter was INR 1,078 crore; guidance for FY25 remains at INR 5,000 crore ±10%.

Outlook and guidance

• CapEx guidance for FY25 remains at INR 5,000 crore ±10%, with ongoing reassessment due to acquisitions.

• Working capital expected to normalize in H2 FY25.

• Fundamentals in place for future growth, with greenfield investments on track and two new facilities commenced production.

• Announced mid-term target of 50% reduction in emissions by 2030.

• Targeting INR 36 billion and 40% ROCE for FY25; five-year plan targets to be updated later in the year.