Motherson (MOTHERSUMI) Q2 26/27 earnings summary

Executive summary

• Record Q2FY27 revenue was ₹38,279.85 crore, up 27% YoY; H1 revenue was ₹73,523.62 crore, up 22%.

• Normalized PAT rose 37% YoY to ₹1,175 crore in Q2 and 45% to ₹2,207 crore in H1.

• Booked business reached a record $106 billion as of September 30, 2026, excluding Consumer Electronics.

• Growth reflected acquisitions and wiring harness performance; integration and input costs pressured reported margins, while efficiencies and cost optimization provided support.

Financial highlights

• Q2 EBITDA rose 23% YoY to ₹3,353 crore; margin was 8.8% versus 9.0% in Q2FY26.

• H1 EBITDA increased 25% to ₹6,457 crore; margin improved to 8.8% from 8.6%.

• Consolidated profit for the period was ₹1,217.57 crore in Q2, versus ₹845.63 crore YoY; H1 profit was ₹2,293.23 crore, versus ₹1,451.72 crore.

• Q2 consolidated operating margin was 5.0% versus 4.5% YoY; net profit margin was 3.2% versus 2.8%.

• Standalone Q2 revenue was ₹4,040.89 crore versus ₹2,954.08 crore YoY; standalone profit was ₹451.38 crore versus ₹731.80 crore.

Outlook and guidance

• FY27 CapEx guidance remains ₹6,000 crore, +/-10%; management indicated an approximate 50/50 split between growth and regular CapEx.

• Strong commercial-vehicle momentum was expected to continue into H2FY27; new light-vehicle launches are expected to support FY28 growth.

• Wiring harness momentum, acquisition synergies, cost pass-throughs, integrated-assembly programs, customer additions and geographic expansion are expected to support growth.

• GF3 commercial production is scheduled for Q4FY27; full capacity is expected by next year following ramp-up.

• No margin guidance was provided; commodity pass-through timing varies by customer and product, typically lagging three months and sometimes six.