Motherson Sumi Wiring India reported its fourth quarter earnings on May 19 with revenues growing 12 percent year on year to Rs 1,864 crore, highest ever quarterly revenues. Earnings before interest, tax, depreciation and amortisation (EBITDA) declined 4 percent to Rs 209 crore, while EBITDA margins fell 200 bps to 11.2 percent versus 13.2 percent in same quarter of last year. The net profits nearly tripled to Rs 138 crore versus Rs 46 crore in the corresponding quarter of last year.

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Motherson Sumi Wiring India is a supplier to top passenger vehicle models in India like Hyundai, Tata, Maruti. The auto component player is also a supplier to electric vehicle manufacturers in India. The stock fell 1 percent in trade on May 19.

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For the full financial year 2022-23, the company crossed Rs 7,000 crossed revenues for the first time. Revenues grew 25 percent to Rs 7,057 crore. EBITDA improved 7 percent year on year to Rs 782 crore, while margins slipped to 11.1 percent versus 13 percent in same quarter of last year. Net profits were 18 percent higher and stood at Rs 487 crore. The cash balance as on 31st March 2023 fell to Rs 36 crore versus Rs 293 crore in financial year 2021-22.

The Board has recommended a dividend of Rs 0.65 per share (65 percent on an equity share of Rs 1 each) for the year ended March 31, 2023.