Event Type and Timing:

  • Q1 FY27 Results Conference Call held on August 4, 2026

Management Participants:

  • Mr. Laksh Vaaman Sehgal - Director
  • Mr. Anurag Gahlot - Chief Operating Officer and Whole Time Director
  • Mr. Gulshan Pahuja - Chief Financial Officer
  • Mr. Pankaj Mital - Whole-time Director and President, Samvardhana Motherson International Limited (SAMIL)

Financial Performance Highlights:

  • Company delivered resilient performance in Q1 FY27
  • Revenue growth of 37% YoY, outpacing industry growth
  • 7% of revenue growth attributed to copper price inflation
  • Remaining growth from volume growth, content increase, premiumization, and new model launches
  • EV contribution reached 8.5% of total revenues
  • Significant cost headwinds from elevated copper prices and increased manpower costs
  • Exceptional minimum wage increases of 30-40% in NCR region impacted profitability

Operational Updates:

  • Greenfield plants achieved break-even in previous quarter
  • Greenfield run rate maintained at ~INR 450 crores quarterly
  • Constructive discussions ongoing with customers to recover cost increases
  • Copper price pass-through mechanism continues with 3-6 month lag
  • Majority of customers on 3-month reset basis, some on 6-month

Capacity and Expansion:

  • Greenfield plants at similar utilization levels as previous quarter
  • Company monitoring industry forecasts for potential expansion plans
  • Current year capex to be funded from internal accruals

Technology and Market Position:

  • Company remains engine-agnostic supplier to both ICE and EV platforms
  • Prepared for new automotive architectures (zonal, 48V)
  • Content per vehicle continues to increase due to feature enhancement
  • Complexity in wiring harnesses increasing rather than decreasing

Compliance and Disclosure:

  • Transcript made available on company website at https://www.mswil.motherson.com/storage/Analyst-Call-Transcripts/2026-27/Q1/Transcript-of-the-investor-call-on-Q1FY27-results.pdf
  • Audio recording of the call also available on company website
  • Contains forward-looking statements with appropriate safe harbor disclaimer

Additional Notes Section

  • The document is a regulatory filing containing the full transcript of the Q1 FY27 results conference call
  • The transcript includes detailed Q&A session with analysts from Nuvama Research, Bank of America, Nomura, Ambit Asset Management, IIFL Capital, Kamana Holding, and InCred Asset Management
  • Financial data was discussed during the call, including specific figures for revenue growth drivers and cost impacts