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Motherson Sumi Wiring reported solid Q3 FY26 results, with revenue up 25.5% YoY to 2,887 Cr and PAT rising 6.4% YoY to 149 Cr. For the first nine months (9M FY26), revenue grew 19.6% to 8,143 Cr and PAT increased 3.9% to 458 Cr, outperforming the 19% PV industry growth.
The company is actively expanding, with Greenfield EV and ICE plants operational. While some new plant volumes are ramping up as planned, others saw customer volume shifts or delays. EV revenue made up 5.8% of Q3 sales.
Greenfield units are showing improved performance. The company also maintains a debt-free balance sheet, reporting net cash of 98 Cr (excluding lease liabilities). Despite rising copper prices causing a timing gap in customer settlements, underlying profitability for established units remained stable. The focus is on optimizing new plant ramp-ups and managing commodity price swings.