Motherson Sumi Wiring logo

Motherson Sumi Wiring

MSUMI NSE

Key Fundamentals

SmallcapAuto ComponentsAutomobiles
Market Cap
₹22,395 Cr
Volatility
Moderate
P/E Ratio
35.29
EBITDA
₹1,064 Cr
Return on Equity
28.92%
Debt to Equity
0.11
Book Value
₹3.26
EPS
₹1.5
52W High
₹53.59
52W Low
₹33.81

Tapetide Score

Data-driven rating, 0–100. How it works →

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 10.3 times its book value
  • Debtor days have increased from 49.3 to 59.9 days.

Growth Rate

Revenue Growth
23.03% higher than 3Y
Net Income Growth
3.19% lower than 3Y
Cash Flow Change
109% higher than 3Y
ROE
-18.95% lower than 3Y
ROCE
-17.87% higher than 3Y
EBITDA Margin (Avg.)
-14.25% higher than 3Y

AI Analysis — Bull vs Bear

3d ago
AI opinion · based on fundamentals
Risk medium

Motherson Sumi Wiring India Ltd (MSUMI) has a market capitalisation of about Rs 22,548 crore and trades at 36.1x earnings and 10.53x book value. Sales grew 29% over the trailing twelve months and at an 18% CAGR over 3 years, but profit grew only 5% TTM and 9% over 3 years, so margins appear to be under pressure. Return on equity is still high at 32% last year, though it is lower than the 5-year average of 41%, and the stock has fallen 27% over the past year.

Bull Case 7
  • Revenue growth is strong: TTM sales grew 29%, with a 3-year sales CAGR of 18% and a 5-year sales CAGR of 24%. This suggests steady demand for wiring harnesses across its OEM customers.
  • Capital efficiency is high: 3-year average ROE is 36.5% and last-year ROE is 32%, well above typical auto-component peers.
  • The company returns cash to shareholders consistently, with a dividend payout of about 47.5% and a current dividend yield of 1.69%. That yield is meaningful for a stock at 36.1x earnings.
  • The stock is down 27% over the past year and has a -7% 3-year CAGR, so the valuation has cooled from earlier highs even though sales kept compounding at 18% over 3 years.
  • Near-term momentum signals are positive, with the company expected to post a good quarter. Continued TTM sales growth of 29% could drive operating leverage if margins stabilise.
  • The 5-year ROE of 41% shows the business model has historically generated high returns. It is a relatively asset-light, customer-embedded supplier backed by its Samvardhana Motherson and Sumitomo Wiring Systems parentage.
  • Rising electrical content per vehicle, driven by EVs, premiumisation and electronics, is a structural tailwind. This is consistent with the 24% 5-year sales CAGR, which is well ahead of underlying vehicle volume growth.
Bear Case 7
  • Profit growth is well behind sales growth. TTM profit grew 5% against 29% sales growth, and the 3-year profit CAGR of 9% is half the 18% sales CAGR, which points to sustained margin compression.
  • The valuation is rich relative to earnings growth. A P/E of 36.1 against a 3-year profit CAGR of 9% implies a PEG of about 4.0, and the earnings yield is only about 2.8%.
  • The stock trades at 10.53x book value, a steep premium that depends on ROE staying well above 30%.
  • ROE is declining, from 41% over 5 years to 36% over 3 years and 32% last year. Returns on capital are eroding as growth becomes less profitable.
  • Working capital is worsening: debtor days rose from 49.3 to 59.9, an increase of about 21%. More cash is being tied up in receivables and cash conversion may weaken.
  • Shareholder returns have been weak: the stock is down 27% over 1 year and has a -7% 3-year CAGR, underperforming despite double-digit sales growth.
  • Revenue is concentrated in the domestic passenger and commercial vehicle cycle. With profit growing only 5% TTM, any auto demand slowdown or copper price spike could compress margins further.

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

22h ago
Neutral 2
  • Two independent ESG ratings of 72 Sep 16

    MSUMI disclosed an ESG rating of 72 from NSE Sustainability on Sep 3, 2026, and a matching score of 72 from Niche Ninety Nine on Sep 16, 2026. The company said it did not engage either agency, and both assessments relied on public data.

  • Steady institutional investor engagement Sep 11

    MSUMI held a one-hour virtual one-on-one with Enam Asset Management on Sep 10, 2026, at 11:30 am. It also scheduled one-on-one meetings with Waverton Asia Pacific Fund and Arihant Capital Markets on Sep 18, 2026, in Noida and virtually.

TL;DR: All of this month's news is routine disclosure, with no new data on earnings, orders or operations. Two independent ESG scores of 72 suggest solid governance and sustainability standing, and frequent meetings with domestic and foreign investors show ongoing institutional interest. None of these items creates a new risk, but they also give little reason to change the outlook for the stock. The Q2 FY27 results, covering the quarter ending Sep 30, 2026, will matter more for the trend. Key things to watch there are auto production volumes, wiring content per vehicle from EV and premium models, and pressure on margins from copper prices.

Quarterly Results

Particulars Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 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
Figures in ₹ Crores

Profit & Loss

Particulars Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
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%
—
Figures in ₹ Crores

Balance Sheet

Particulars Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 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
Figures in ₹ Crores

Cash Flow

Particulars Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 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
Figures in ₹ Crores

Ratios

Particulars Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 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

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

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Shareholding Pattern

Others1.48%Govt.0.02%Promot.61.73%FIIs8.91%Public10.01%DIIs17.85%As ofJun 2026

Documents

Frequently Asked Questions about Motherson Sumi Wiring

What does Motherson Sumi Wiring India Ltd do?
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]
Where is Motherson Sumi Wiring India Ltd (MSUMI) listed?
Motherson Sumi Wiring India Ltd trades as MSUMI on the NSE and under code 543498 on the BSE.
Which sector does Motherson Sumi Wiring India Ltd belong to?
Motherson Sumi Wiring India Ltd is classified under the Automobiles sector, in the Auto Components industry.
What is the market capitalisation of Motherson Sumi Wiring India Ltd?
Motherson Sumi Wiring India Ltd has a market capitalisation of ₹22,395 Cr, which places it in the Large Cap band.
What is the PE ratio of Motherson Sumi Wiring India Ltd?
Motherson Sumi Wiring India Ltd trades at a PE ratio of 35.29, on earnings per share of ₹1.5, against a book value of ₹3.26 per share.
What is the 52-week high and low of Motherson Sumi Wiring India Ltd?
Over the last 52 weeks Motherson Sumi Wiring India Ltd has traded between ₹33.81 and ₹53.59.
Does Motherson Sumi Wiring India Ltd pay dividends?
Motherson Sumi Wiring India Ltd has a dividend yield of 1.70%.
What is the Return on Equity (ROE) of Motherson Sumi Wiring India Ltd?
Motherson Sumi Wiring India Ltd reported a return on equity of 28.92%. Its debt-to-equity ratio is 0.11.

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]

Website mswil.motherson.com
Listed 2022-03-28
Face Value ₹ 1
Issued Size 6,63,16,61,898

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