Motherson Sumi Wiring India Limited (MSWIL) is a joint venture with Sumitomo Wiring Systems, Ltd., a global leader in the manufacture of wiring harnesses, harness components, and other electric wires. The company was incorporated in Mumbai, Maharashtra, on December 19, 1986, as a flagship company of the Motherson Group. It specializes in providing full-system wiring solutions to a diverse customer base in the automotive and related industries.
Established on July 2, 2020, as a wholly-owned subsidiary of Samvardhana Motherson International Limited (SAMIL), MSWIL has rapidly emerged as a key player in the manufacturing and sale of automotive components. The company serves as an India-based solutions provider to original equipment manufacturers (OEMs) within the wiring harness segment in India.
The Motherson Group operates **230 facilities across 41 countries**, with MSWIL having **23 facilities in India**. The company is jointly owned by Samvardhana Motherson International Limited and Sumitomo Wiring Systems Limited. The restructuring in 2020 allowed MSWIL to focus exclusively on **domestic wiring harness solutions**, a critical component for automotive electrical systems. This specialization enables the company to better serve the growing demand for high-quality wiring harnesses in India, while also leveraging the global synergies of the Motherson Group.
MSWIL manufactures comprehensive wiring solutions for various automotive segments, including:
* Passenger cars
* Two-wheelers and recreational vehicles
* Heavy, medium, and light-duty commercial vehicles
* Motorcycles and three-wheelers
* Multi-utility vehicles
* Farm and material-handling equipment
* Off-highway vehicles
Additionally, the company offers specialized wiring harnesses for consumer durables, office automation equipment, medical diagnostic equipment, and other electrical and electronic equipment.
The market capitalization of Motherson Sumi Wiring India Ltd (MSUMI) stands at **₹26,402.86 Crore** as of July 1, 2025. The company's 52-week high for the stock is **₹77**, and the 52-week low is **₹46.08**. The P/E (price-to-earnings) ratio of MSUMI is **43.58**, and its P/B (price-to-book) ratio is **15.75**.
The company has demonstrated strong financial performance in recent quarters. In **Q4 FY25**, MSWIL reported quarterly revenues of **₹2,391 Crore**, marking its **highest-ever performance** in terms of both revenue and EBITDA for a single quarter and the full year. During Q4 FY25, the company achieved a **year-on-year revenue growth of 7.1%**, with full-year growth recorded at **8.8%**, surpassing overall industry volume growth.
Key financial highlights for FY25 include:
* **Revenue Growth:** 7.1% YoY in Q4 FY25 and 8.8% on a full-year basis, outpacing industry volume growth.
* **ROCE:** Achieved 42% for FY25, consistently above its 40% target.
* **Q4 FY25 Revenue:** Jumped **12.25%** year-on-year to **₹2,511.13 Crore**.
* **Q4 FY25 Net Profit:** Fell **13.85%** year-on-year to **₹164.93 Crore**.
* **Dividend Payout:** ₹575 Crore (comprising ₹354 Crore for FY24 final dividend + ₹221 Crore interim for FY25).
For **Q1 FY25**, the company reported a **21% increase in net profit at ₹148.87 Crore** for the June quarter, driven by strong revenue growth.
MSWIL's continued emphasis on operational efficiency, combined with strategic investments in capacity expansion, has enabled it to maintain a strong market position and meet evolving customer requirements for both internal combustion engine (ICE) and electric vehicle (EV) programs. The **EV share of revenues stood at 4% for Q4 FY25**.
The company is actively expanding its manufacturing capabilities. One of its three planned greenfield manufacturing facilities commenced production during the year, with the remaining two progressing according to schedule:
* **Pune (Maharashtra):** Production started for both EV and ICE components.
* **Navagam (Gujarat):** EV Start of Production (SOP) expected in Q1 FY26, and ICE SOP in Q2 FY26.
* **Kharkhauda (Haryana):** ICE SOP expected in Q2 FY26.
The company is experiencing robust revenue growth of **17% year-on-year**, largely fueled by increased demand for hybrid and electric vehicles, despite facing challenges from rising costs and delays in new plant production. Management remains optimistic about future demand, emphasizing a proactive approach to expanding operational capacity and enhancing localization efforts to improve competitiveness.
Motherson Sumi Wiring has achieved a remarkable **CAGR of 28.4% in revenue** over the past three years, with net profit growing at 17.2%. The company maintains a strong financial position, being **debt-free**, and has a strong focus on enhancing operational efficiencies, positioning it well for future growth in the evolving automotive landscape.
Motherson Sumi Wiring India Ltd (MSUMI) belongs to the Industrials sector and Cables sub-sector. The company continues to benefit from the increasing electronic content in vehicles and the growing shift towards electric mobility, making it a significant player in India's automotive component industry.
