Motherson Sumi Wiring India (MSWIL) reported a robust Q1 FY27. Revenue surged 37% YoY to 3,407 Cr, significantly outpacing industry growth.

However, profit growth was modest: EBITDA rose 6% to 258 Cr, and PAT increased just 1% to 145 Cr.

Growth was fueled by timely Greenfield expansions and successful new customer program ramp-ups.

Profitability faced headwinds from a sharp ~53% YoY rise in copper prices and higher minimum wages.

MSWIL is in active discussions with customers to recover these increased costs.

Notably, EV share of revenues reached 8.5% for Q1 FY27, up from 6.6% in the prior 12 months, indicating stronger EV segment participation.

Net debt (excluding lease liabilities) also shifted from a net cash of 56 Cr to a net debt of 40 Cr during the quarter.