Date: August 6, 2026

Corporate Overview

Samvardhana Motherson International Limited (Motherson) is a global Design, Engineering, Manufacturing, Assembly and Logistics (D.E.M.A.L) specialist with over 475 facilities in 47 countries and 205,000+ employees worldwide. The company started in 1975 in Delhi as a partnership between Mr. Vivek Chaand Sehgal and late Shrimati Swaran Lata Sehgal. The company is among the Top 10 Global Automotive Suppliers with $22.9 billion gross revenues as a group for FY2026.

Business Divisions

The company operates through specialized business divisions:

  • Wiring Harness
  • Vision Systems
  • Modules & Polymer Products
  • Integrated Assemblies
  • Emerging Businesses (Lighting & Electronics, Precision Metals & Modules, Elastomer, Technology & Industrial Solutions, Aerospace, Logistics Solutions, Health & Medical, Services)
  • Vehicle Systems

Financial Performance

Group Financial Highlights

  • FY2026 Gross Revenues: ₹194,010 crores
  • FY2026 Economic Revenues (including JVs): ₹143,288 crores
  • FY2026 Reported/Net Revenue: ₹126,104 crores
  • FY2026 EBITDA: ₹12,032 crores (9.5% margin)
  • Q1FY27 Revenue: ₹35,244 crores
  • Q1FY27 EBITDA: ₹3,104 crores (8.8% margin)

Divisional Performance (FY2026)

  • Wiring Harness: Revenue ₹36,508 crores, EBITDA ₹3,928 crores (10.8% margin)
  • Modules & Polymer Products: Revenue ₹62,894 crores, EBITDA ₹5,120 crores (8.1% margin)
  • Vision Systems: Revenue ₹21,001 crores, EBITDA ₹2,042 crores (9.7% margin)
  • Integrated Assemblies: Revenue ₹11,035 crores, EBITDA ₹1,504 crores (13.6% margin)
  • Emerging Businesses: Revenue ₹17,072 crores, EBITDA ₹1,825 crores (10.7% margin)

Emerging Businesses Detailed Performance (FY2026 vs FY2025)

  • Lighting and Electronics: Revenue ₹5,663 crores (vs ₹4,078 crores), EBITDA ₹918 crores (vs ₹698 crores)
  • Precision Metal and Modules: Revenue ₹5,269 crores (vs ₹1,942 crores), EBITDA ₹484 crores (vs ₹252 crores)
  • Elastomer: Revenue ₹890 crores (vs ₹762 crores), EBITDA ₹147 crores (vs ₹102 crores)
  • Technology and Industrial Solutions: Revenue ₹890 crores (vs ₹1,181 crores), EBITDA ₹63 crores (vs ₹81 crores)
  • Aerospace: Revenue ₹2,447 crores (vs ₹1,749 crores), EBITDA ₹203 crores (vs ₹127 crores)
  • Logistics Solutions: Revenue ₹312 crores (vs ₹231 crores), EBITDA ₹26 crores (vs ₹17 crores)
  • Health and Medical: Revenue ₹19 crores (vs ₹24 crores), EBITDA (₹74) crores (vs (₹53) crores)
  • Services & Others: Revenue ₹1,115 crores (vs ₹1,451 crores), EBITDA ₹58 crores (vs ₹229 crores)

Capital Structure and Leverage

  • Net Leverage Ratio: 0.8x (lowest ever)
  • Gross Debt: ₹16,606 crores (as of June 30, 2026)
  • Liquidity: ₹15,633 crores (as of June 30, 2026)
  • Record Yearly Capex in FY26, Continued Growth Investments in FY27
  • Q1FY27 Capex: ₹1,614 crores (52% of EBITDA)

Strategic Developments

Acquisitions

1. Shenzhen Autocruis (China) - New acquisition announced for Interior and Exterior Digital Vision & Monitoring Systems

  • Key Products: Camera Monitoring Systems (CMS), Full Display Mirrors (FDM), 360 degree Around View Monitor (AVM) Systems, Driver Monitoring Systems (DMS), Dashcam with Video Recording (DVR)

2. Nexans Autoelectric (Wiring Harness Business) - Completed on July 3, 2026

3. Yutaka Giken - Completed on July 21, 2026

  • Key Products: Exhaust Systems, Brake Discs, Drive Systems, EV Motor Components

Capacity Expansion

13 facilities at different stages of completion across emerging markets:

  • Wiring Harness: 3 projects (India, Morocco, Poland) - SOP Q4FY27 to Q1FY28
  • Vision System: 2 projects (Morocco, India) - SOP Q3FY28*
  • Modules and Polymer Products: 1 project (UAE) - SOP Q4FY27*
  • Lighting and Electronics: 2 projects (India) - SOP Q2FY27 to Q3FY27
  • Aerospace: 1 project (India) - SOP Q4FY27*
  • Elastomer: 1 project (UAE) - SOP Q3FY27*
  • Logistics: 2 projects (India, Hungary) - SOP Q3FY27
  • Technology & Industrial Solutions: 1 project (India) - SOP Q4FY27

*SOP in alignment with delayed customer programs

Three plants were operationalized during Q1FY27.

Business Diversification

The company shows consistent improvement in diversification across 3Cs (Component, Customer, Country):

  • Component-wise diversification
  • Customer-wise diversification
  • Country-wise diversification (South Korea, South Africa, Czech Republic, Hungary, UAE, Turkey, Philippines, Indonesia, Poland as per MSCI Emerging Markets Index)

Leadership and Governance

Board of Directors:

  • Mr. Vivek Chaand Sehgal - Chairman of the board for SAMIL
  • Mr. Laksh Vaaman Sehgal - Director on board for SAMIL
  • Ms. Rekha Sethi - Independent Director for SAMIL (Board member at Sun Pharma, Kirloskar, CESC)
  • Mr. Pankaj Mital - Whole Time Director and President on board for SAMIL
  • Mr. Dinesh Khara - Independent Director for SAMIL (Former Chairman of SBI, Chairman - NPS trust; Board member at Crisil, Bharti Airtel)
  • Mr. Robert Joseph Remenar - Independent Director for SAMIL
  • Mr. Veli Matti Ruotsala - Independent Director for SAMIL

Key Management Personnel:

  • Mr. Gandharv Tongia - Group Chief Financial Officer (KMP)

Awards and Recognition

Motherson recognized for excelling in:

  • Employee Satisfaction
  • Revenue Growth
  • Sustainable Practices

Mr. V C Sehgal was inducted to the Automotive Hall of Fame.

Shareholder Returns

The company has a track record of delivering superlative value for shareholders. Calculations show significant returns for investors who subscribed at the time of IPO in 1993 and are still holding the stock (including dividends).

External Environment

  • China slowdown weighed on global LV industry, while South Asia remained a bright spot
  • Planned European OEM launches expected to support industry growth
  • Recovery in the North American CV market sustained CV industry growth momentum
  • Outlook remains favorable for FY27
  • Copper prices continued to rise, increasing ~4% QoQ, continuing commodity cost pressures
  • Crude price inflation due to geopolitical tensions in the Middle East led to higher polymers, paint, rubber and other input costs

Vision 2030

The company is executing its seventh 5-year plan (Vision 2030) with constant currency conversion based on FY2025 average exchange rate (1 USD = 84.55 INR).