Samvardhana Motherson International earnings calls.

Motherson Wiring (MSUMI) reported 33% YoY revenue growthCurrent 33% vs previous available quarter 14%. in Q4 FY26, crossing ₹10,000 crore annual revenueCurrent reported value: ₹10,000 crore annual revenue. No comparable prior figure is available in the source record. milestone for the first time, driven by 20-29% volume growth plus ~5% contribution from copper price pass-through. However, gross margin compressed ~290bpsCurrent reported value: gross margin compressed ~290bps. No comparable prior figure is available in the source record. due to a ~18% sequential copper price spike creating a 3-6 month pass-through lag, impacting profitability temporarily — management quantified copper's bottom-line impact at 2-2.5% this quarter. Greenfield plants generated ₹443 crore revenueCurrent ₹443 crore revenue. Reported change: +₹143 crore vs prior quarter. (~₹1,760 crore annualized run rate vs. ₹2,000 crore target), with ₹127 crore net startup costCurrent ₹127 crore net startup cost. Reported change: Net cost to profitability. for full year. Pune plant remains ~40-50% utilizedCurrent reported value: ~40-50% utilized. No comparable prior figure is available in the source record. due to delayed OEM model ramp, while Kharadhol is at ~80%Current ~80%. Reported change: Stable. and Nagam at ~60%. Management guides ₹200 crore capex for FY27Current reported value: ₹200 crore capex for FY27. No comparable prior figure is available in the source record., similar to FY26, with automation and customer-backed greenfield expansion. Debt-free status maintained. Key risks: copper price stabilization neededCurrent reported value: copper price stabilization needed. No comparable prior figure is available in the source record. for margin recovery, Pune volume ramp uncertainty, and emerging polymer/PVC cost pressures without clear pass-through timelines.