The Board of Directors of Samvardhana Motherson International Limited approved the unaudited standalone and consolidated financial results for the quarter ended June 30, 2026 (Q1 FY27) in a meeting held on Thursday, August 06, 2026. The meeting commenced at 0800 Hours (IST) and concluded at 1130 Hours (IST).

The submission to the exchanges was made pursuant to Regulation 33 and Regulation 52 of the SEBI LODR, 2015. The company also issued a press release and a presentation on its performance for the period.

Financial Performance Overview (Consolidated)

Revenue:

  • Gross revenue for Q1 FY27 stood at ₹54,424 crores, a 17% increase compared to Q1 FY26 revenue of ₹46,993 crores.
  • After adjusting for throughput revenue (₹14,431 crores) and joint ventures accounted for by the equity method (₹4,749 crores), the reported/net revenue was ₹35,244 crores.
  • The company reported its highest-ever quarterly revenues.

Profitability:

  • EBITDA outpaced revenue growth, though a specific figure for Q1 FY27 EBITDA was not provided in the summary text. Margins showed improvement.
  • The presentation notes that Q1 FY26 PAT included an adjustment of approximately ₹45 crores (post-tax) for accelerated amortization of certain intangible assets and an exceptional expense of ₹110 crores (post-tax) for provisions related to business transformative measures in Central & Western Europe.

Strategic Developments and Capital Allocation

Acquisitions:

  • 01 New Acquisition Announced: Shenzhen Autocruis (China) was announced, broadening the company's offerings in interior and exterior digital vision systems. Key products include Camera Monitoring Systems (CMS), Full Display Mirrors (FDM), 360-degree Around View Monitor (AVM) Systems, Driver Monitoring Systems (DMS), and Dashcam with Video Recording (DVR).
  • 02 Acquisitions Completed: The acquisitions of Nexans Autoelectric (Wiring Harness Business), completed on July 3, 2026, and Yutaka Giken, completed on July 21, 2026, were finalized. Yutaka Giken's key products include Exhaust Systems, Brake Discs, Drive Systems, and EV Motor Components.

Capital Expenditure (Capex):

  • Capex for the quarter was ₹1,614 crores, which represents 52% of the quarter's EBITDA and is in line with yearly guidance.

Capacity Expansion:

  • Three new plants were operationalized during the quarter.
  • Thirteen facility expansion projects are at different stages of completion across various business divisions and countries (India, Morocco, Poland, UAE, Hungary), with planned commencement dates (SOP) ranging from Q2 FY27 to Q1 FY28.

Balance Sheet and Leverage

Leverage:

  • The company achieved its lowest-ever Net Leverage Ratio of 0.8x.
  • Effective Net Debt (including lease liabilities, excluding CCD) as of June 30, 2026, was ₹9,757 crores.
  • Gross Debt stood at ₹16,606 crores.
  • Liquidity was strong at ₹15,633 crores.
  • The debt repayment schedule was described as comfortable.

Divisional Performance (Economic Revenue including JVs)

Divisional performance is reported including 100% of joint ventures and associates (Economic Revenue).

  • Wiring Harness: Revenue grew 31% YoY to ₹11,280 crores (Q1 FY27). Growth was driven by strong momentum in India and recovery in the North American CV business. Margins were impacted by rising copper prices.
  • Modules & Polymer Products (MPP): Revenue was ₹16,695 crores (Q1 FY27), with soft demand across key markets. Margins improved ~50 bps YoY to 6.9% despite higher polymer prices, aided by cost-saving initiatives.
  • Vision Systems: Revenue grew 10% YoY. Margins remained stable. The Shenzhen Autocruis acquisition is expected to enhance product capabilities.
  • Integrated Assemblies: Revenue was impacted by a demand slowdown in key markets but has a strong order book for FY27. Margins expanded YoY due to cost optimization.
  • Emerging Businesses: This segment (including Elastomer, Lighting and electronics, Precision Metals, etc.) reported revenue of ₹4,795 crores and EBITDA of ₹405 crores for Q1 FY27.

Macro and Commodity Environment

  • The global light vehicle industry was weighed down by a slowdown in China, though South Asia remained a bright spot.
  • The North American commercial vehicle (CV) market recovery sustained growth momentum.
  • Commodity cost pressures persisted, with copper prices increasing ~4% QoQ to an average of $13,324/MT (LME) or ₹1,348/KG.
  • Crude price inflation, due to geopolitical tensions, led to higher costs for polymers, paint, rubber, and other inputs.
  • Exchange rates moved unfavorably, with the INR averaging 94.66 against the USD in Q1 FY27, compared to 85.59 in Q1 FY26.

Other Highlights

  • The aerospace business delivered over 20% YoY revenue growth, and its order book grew more than 17% since FY26-end.
  • A third consumer electronics facility is on track for commissioning in Q3FY27, with a planned capex of ~₹65 billion over ~3 years and a manufacturing capacity of 40 million units annually at full capacity.

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