Samvardhana Motherson International Limited announced its financial results for the second quarter and half year ended September 30, 2026. The company achieved its highest ever quarterly and half-yearly revenues, driven by acquisitions and strong growth in its wiring harness business. Revenue for Q2 FY27 surged by 27% year-on-year to Rs 38,280 Crores, while EBITDA increased by 23% to Rs 3,353 Crores. Normalized PAT saw a significant jump of 37% to Rs 1,175 Crores.
Samvardhana Motherson International Reports Strong Q2 FY27 Performance
Samvardhana Motherson International Limited has announced its unaudited financial results for the second quarter and half year ended September 30, 2026. The company reported record revenues, signifying a strong performance driven by strategic acquisitions and robust growth in its wiring harness business.
Key Financial Highlights
Q2 FY27 vs Q2 FY26 Performance
- Revenue: Increased by 27% year-on-year to Rs 38,280 Crores.
- EBITDA: Grew by 23% to Rs 3,353 Crores.
- Normalized PAT (Concern Share): Saw a substantial increase of 37% to Rs 1,175 Crores.
H1 FY27 vs H1 FY26 Performance
- Revenue: Increased by 22% year-on-year to Rs 73,524 Crores.
- EBITDA: Grew by 25% to Rs 6,457 Crores.
- Normalized PAT (Concern Share): Increased by 45% to Rs 2,207 Crores.
Strategic Growth Drivers
The impressive revenue growth in Q2 FY27 was attributed to the highest ever quarterly revenue, fueled by acquisitions and a strong performance in the wiring harness business. The company also highlighted MPP margin improvements achieved through cost optimization, offsetting rising input costs and the impact of integrating acquired assets.
Other key highlights include a strong booked business of USD 106 billion, an all-time high, and a stable net leverage ratio at 0.8x. The company also announced one new acquisition, Rotary Connectors (India), to enhance its capabilities in MIL-spec connector solutions for the Aerospace and Defence sectors.
Capacity Expansion and Investments
Samvardhana Motherson International is committed to sustained growth through continued investments. Capex for the quarter stood at Rs 1,971 Crores, which is 59% of EBITDA. The company has operationalized one plant and announced five expansions during the quarter. Capex guidance for FY27 is set at Rs 6,000 Cr (+/-10%), with approximately 50% allocated to Growth Capex and 50% to Regular Capex.
Market Outlook and Challenges
The external environment in Q2 FY27 saw a decline in Global LV production led by China, though South Asia provided support. Commercial Vehicle (CV) growth was broad-based across North America, India, and Europe, with momentum expected to continue. Copper prices continued to rise, while crude oil prices eased, though with a recent surge.
Geopolitical tensions are driving cost inflation and monetary tightness globally. This is reflected in rising commodity prices for copper and aluminum, and a significant increase in the World Container Index. Inflation and interest rates across the EU, USA, India, and China are also on an upward trend, which may weigh on demand.
Divisional Performance
The company’s business divisions showed varied performance:
- Wiring Harness: Reported strong revenue growth of 68% YoY in Q2FY27 and 49% YoY in H1FY27.
- Modules and Polymer Products: Saw revenue growth of 4% in Q2FY27 and 7% in H1FY27.
- Vision Systems: Experienced revenue growth of 7% in Q2FY27 and 8% in H1FY27, maintaining margin sustainability.
- Integrated Assemblies: Navigated market challenges with revenue growth of 4% in Q2FY27 and 3% in H1FY27, maintaining stable margins.
- Emerging Businesses: Showed significant revenue growth of 61% in Q2FY27 and 46% in H1FY27.
The company maintains a robust balance sheet with comfortable debt maturities and strong liquidity, with Gross Debt at Rs 19,355 Crores and Liquidity at Rs 17,474 Crores as of 30th September 2026.
Source: BSE
