Motherson Sumi Wiring
Motherson Sumi Wiring
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Key Insights
Strengths
3- Company is expected to give good quarter
- Company has a good return on equity (ROE) track record: 3 Years ROE 36.5%
- Company has been maintaining a healthy dividend payout of 47.5%
Weaknesses
2- Stock is trading at 11.1 times its book value
- Debtor days have increased from 49.3 to 59.9 days.
Growth Rate
AI Analysis — Bull vs Bear
anthropic claude-opus-4.6 2h agoMotherson Sumi Wiring India Ltd (MSUMI) is a ₹23,934 Cr market cap auto ancillary company trading at a PE of 38.2x and 11.1x book value. The company delivers strong ROE of 32-36% over recent years with 29% TTM sales growth, but the stock has declined 28% over the past year and profit growth at 5% TTM lags revenue growth significantly.
- Consistently high return on equity with 3-year ROE of 36% and 5-year ROE of 41%, indicating efficient capital deployment
- Strong revenue momentum with TTM compounded sales growth of 29%, accelerating from the 3-year CAGR of 18%
- Healthy dividend payout ratio of 47.5% with a current dividend yield of 1.6%, rewarding shareholders consistently
- Compounded sales CAGR of 24% over 5 years demonstrates sustained top-line growth across business cycles
- Company is expected to deliver a good upcoming quarter based on operational momentum and sector tailwinds
- Compounded profit CAGR of 10% over 5 years shows the company has been able to grow earnings over the medium term
- Stock has corrected 28% over the past year, which has brought the valuation closer to historical averages from prior elevated levels
- Stock trades at 11.1x price-to-book value, a steep premium that leaves little margin of safety if growth slows
- TTM profit growth of only 5% significantly trails TTM sales growth of 29%, signaling margin compression or rising costs
- PE ratio of 38.2x is elevated relative to the broader market, requiring sustained high growth to justify the valuation
- Debtor days have increased from 49.3 to 59.9 days, indicating deteriorating working capital efficiency and slower collections
- Stock price CAGR of -28% over 1 year and -6% over 3 years shows sustained underperformance and negative wealth creation
- Widening gap between 3-year sales CAGR of 18% and 3-year profit CAGR of 9% suggests structural margin pressure
- Last year ROE of 32% has declined from the 5-year average of 41%, indicating a potential downward trend in capital efficiency
This is AI-generated analysis, not financial advice. Do your own due diligence.
AI News Digest
anthropic claude-opus-4.6 2h ago- Strong ESG rating of 72 Sep 3
Motherson Sumi Wiring received an independent ESG rating of 72 from NSE Sustainability on Sep 3, 2026, covering environmental, social, and governance parameters.
- Active institutional investor engagement Sep 7
The company scheduled multiple one-on-one investor meetings between Sep 2-10, 2026, with firms including Enam Asset Management, Ventura Securities, Karma Capital, Franklin Templeton Offshore, and an Elara Securities-organized conference in Mumbai.
TL;DR: Motherson Sumi Wiring shows no material headwinds in the recent news cycle. The company earned a solid ESG score of 72 and is actively engaging institutional investors through a series of meetings in early September 2026, signaling management confidence and sustained investor interest. No operational or financial red flags are visible, though the news flow is light on business fundamentals. Watch for any forward guidance or order pipeline updates emerging from these investor interactions.
Quarterly Results
| Particulars | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 1,859 | 2,109 | 2,115 | 2,233 | 2,185 | 2,326 | 2,300 | 2,510 | 2,494 | 2,762 | 2,887 | 3,335 | 3,407 |
| Expenses | 1,665 | 1,856 | 1,853 | 1,941 | 1,946 | 2,076 | 2,063 | 2,238 | 2,250 | 2,482 | 2,625 | 3,061 | 3,149 |
| Operating Profit | 194 | 253 | 262 | 291 | 239 | 250 | 238 | 271 | 244 | 280 | 262 | 274 | 258 |
| OPM % | 10% | 12% | 12% | 13% | 11% | 11% | 10% | 11% | 10% | 10% | 9% | 8% | 8% |
| Other Income | 14 | 1 | 1 | 4 | 5 | 5 | 1 | 2 | 1 | 1 | 1 | 1 | 5 |
| Interest | 8 | 7 | 6 | 6 | 5 | 7 | 7 | 6 | 6 | 6 | 7 | 6 | 8 |
| Depreciation | 34 | 36 | 38 | 39 | 40 | 44 | 47 | 48 | 49 | 53 | 56 | 57 | 60 |
| PBT | 166 | 210 | 219 | 250 | 198 | 203 | 185 | 220 | 190 | 221 | 200 | 212 | 195 |
| Tax % | 26% | 26% | 23% | 24% | 25% | 25% | 24% | 25% | 25% | 25% | 25% | 21% | 26% |
| Net Profit | 123 | 156 | 168 | 191 | 149 | 152 | 140 | 165 | 143 | 165 | 149 | 167 | 145 |
| EPS in Rs | 0.19 | 0.24 | 0.25 | 0.29 | 0.22 | 0.23 | 0.21 | 0.25 | 0.22 | 0.25 | 0.23 | 0.25 | 0.22 |
Profit & Loss
| Particulars | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|---|---|---|---|
| Sales | 3,938 | 5,635 | 7,068 | 8,327 | 9,319 | 11,478 | 12,391 |
| Expenses | 3,385 | 4,905 | 6,276 | 7,315 | 8,323 | 10,417 | 11,316 |
| Operating Profit | 553 | 730 | 792 | 1,012 | 996 | 1,060 | 1,074 |
| OPM % | 14% | 13% | 11% | 12% | 11% | 9% | 9% |
| Other Income | 24 | -35 | 12 | 8 | 13 | 4 | 8 |
| Interest | 7 | 28 | 28 | 27 | 25 | 26 | 28 |
| Depreciation | 37 | 106 | 124 | 147 | 179 | 216 | 227 |
| PBT | 532 | 561 | 652 | 846 | 806 | 822 | 828 |
| Tax % | 26% | 27% | 25% | 25% | 25% | 24% | — |
| Net Profit | 396 | 411 | 487 | 638 | 606 | 625 | 627 |
| EPS in Rs | — | 0.62 | 0.73 | 0.96 | 0.91 | 0.94 | 0.95 |
| Div. Payout % | 0% | 65% | 59% | 55% | 26% | 62% | — |
Balance Sheet
| Particulars | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Equity Capital | 0.1 | 316 | 442 | 442 | 442 | 663 |
| Reserves | 0 | 799 | 888 | 1,235 | 1,256 | 1,498 |
| Borrowings | 96 | 283 | 373 | 259 | 269 | 233 |
| Other Liabilities | 1,693 | 1,164 | 1,195 | 1,203 | 1,761 | 2,351 |
| Total Liabilities | 1,789 | 2,562 | 2,898 | 3,139 | 3,729 | 4,746 |
| Fixed Assets | 170 | 432 | 579 | 600 | 691 | 779 |
| CWIP | 0 | 32 | 27 | 24 | 37 | 2 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Assets | 1,620 | 2,097 | 2,292 | 2,516 | 3,002 | 3,965 |
| Total Assets | 1,789 | 2,562 | 2,898 | 3,139 | 3,729 | 4,746 |
Cash Flow
| Particulars | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Operating | 11 | 501 | 224 | 791 | 365 | 761 |
| Investing | -28 | -101 | -194 | -208 | -60 | -200 |
| Financing | 25 | -144 | -287 | -452 | -457 | -510 |
| Net Cash Flow | 8 | 256 | -257 | 131 | -153 | 52 |
| Free Cash Flow | -17 | 400 | 26 | 680 | 194 | 561 |
| CFO/OP | 23 | 95 | 51 | 100 | 56 | 92 |
Ratios
| Particulars | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Debtor Days | 63 | 43 | 41 | 39 | 49 | 60 |
| Inventory Days | 116 | 97 | 95 | 76 | 77 | 82 |
| Days Payable | 109 | 92 | 73 | 62 | 71 | 93 |
| Cash Conversion Cycle | 69 | 47 | 64 | 54 | 55 | 48 |
| Working Capital Days | 49 | 31 | 42 | 39 | 32 | 44 |
| ROCE % | — | 88% | 44% | 48% | 43% | 39% |
Insights
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
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Documents
Frequently Asked Questions about Motherson Sumi Wiring
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Company Information
Motherson Sumi Wiring India, a JV between Sumitomo Wiring System and Motherson Group, is a market leader in the Indian wiring harness industry with a market share of over 40%.[1]
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