News ArticleSamvardhana Motherson International Achieves Highest Ever Q2 Revenue of Rs 38,280 Crores with 37% PAT Growth
EBITDA rises 23% amid acquisitions and business scale-up; company advances aerospace & defence connector capabilities
Samvardhana Motherson International Limited posted its highest-ever quarterly revenue of Rs 38,280 crores for Q2 FY 2026-27, supported by strong growth in wiring harness business and recent acquisitions. EBITDA reached Rs 3,353 crores with a 23% year-on-year increase, while normalized profit after tax attributable to the concern rose 37% to Rs 1,175 crores. The company also announced expansion plans including new plants and upgrades in aerospace and defence connectors, maintaining a stable net leverage ratio of 0.8x.
Samvardhana Motherson International Limited
Investor Presentation
Samvardhana Motherson International Limited announced its unaudited standalone and consolidated financial results for the second quarter and half year ended September 30, 2026, reporting record-high revenue and profit growth driven by its wiring harness business and recent acquisitions.
For Q2 FY 2026-27, the company achieved revenues of Rs 38,280 crores, marking a 27% increase year-on-year. EBITDA stood at Rs 3,353 crores, a 23% rise from the same quarter the prior year. Normalized profit after tax attributable to the concern increased 37% to Rs 1,175 crores.
The half-year results showed revenue of Rs 73,524 crores, up 22% year-on-year, with EBITDA of Rs 6,457 crores (up 25%) and normalized PAT rising 45% to Rs 2,207 crores. These achievements reflect the integration of acquired businesses and growth in wiring harnesses.
Operationally, the company continued cost optimization and automation efforts that improved margins despite rising commodity input costs and acquisition integration impacts. A stable net leverage ratio of 0.8x positions the company for further growth.
The company announced one new acquisition and five capacity expansions during the quarter, including a new plant operationalized, enhancing its aerospace and defence portfolio with MIL-spec rotary, circular connectors, and interconnection solutions.
Global light vehicle production declined primarily due to challenges in China, while commercial vehicle growth in North America, India, and Europe remained strong, supporting business momentum into the second half of FY 2027.
Highlights
- Q2 FY 2026-27 revenue grew 27% year-on-year to Rs 38,280 crores
- EBITDA increased 23% to Rs 3,353 crores in Q2 FY 2026-27
- Normalized PAT up 37% year-on-year at Rs 1,175 crores for Q2 FY 2026-27
- Half-year revenue Rs 73,524 crores, 22% growth from previous year
- Stable net leverage ratio of 0.8x, supporting inorganic growth
- Capex of Rs 1,971 crores aligned with growth priorities and yearly guidance, about 59% of EBITDA for the half-year period
Key Data Snapshot
Financial performance
- Samvardhana Motherson International recorded its highest-ever quarterly revenue of Rs 38,280 crores in Q2 FY 2026-27, a 27% increase compared to Q2 FY 2025-26.
- EBITDA increased by 23% year-on-year to Rs 3,353 crores during the quarter, with normalized PAT rising 37% to Rs 1,175 crores.
- For the half-year ended September 30, 2026, revenue was Rs 73,524 crores, up 22%, with EBITDA growing 25% to Rs 6,457 crores and normalized PAT up 45% at Rs 2,207 crores.
- Revenue growth was driven by strong performance in wiring harness business and successful integration of acquisitions.
- Operational EBITDA margins improved through cost optimization and automation initiatives, partly offsetting increased input costs and acquisition-related integration impacts.
Operational performance
- One new acquisition was announced during the quarter, complementing the company's portfolio.
- Five capacity expansion projects were initiated or announced, including a new plant that became operational during the quarter.
- The expansions add MIL-spec rotary, circular connectors, and interconnection solutions capabilities to the aerospace and defence divisions.
- The company maintains a strong and diversified booked business pipeline valued at USD 106 billion, excluding consumer electronics.
- Global commercial vehicle production growth in North America, India, and Europe, along with expected new vehicle launches, provide growth drivers for FY 2028.
Strategic context
- Stable net leverage ratio at 0.8x reflects a strong balance sheet capable of supporting inorganic growth opportunities.
- Capex stood at Rs 1,971 crores for the half-year, representing 59% of EBITDA and aligned with growth priorities and annual guidance.
- The company continues to focus on expanding electrical wiring interconnection systems (EWIS) capabilities for aerospace and defence markets.
- Global light vehicle production declined mainly due to China, while other regions showed mixed trends impacting demand and production volumes.
Background and context
- The results were approved by the Board of Directors in a meeting held on November 5, 2026.
- The announcement complies with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and includes standalone and consolidated unaudited financial statements.
- The company is listed on BSE and NSE under the ticker MOTHERSON.
Highlights
- Q2 FY 2026-27 revenue grew 27% year-on-year to Rs 38,280 crores
- EBITDA increased 23% to Rs 3,353 crores in Q2 FY 2026-27
- Normalized PAT up 37% year-on-year at Rs 1,175 crores for Q2 FY 2026-27
- Half-year revenue Rs 73,524 crores, 22% growth from previous year
- Stable net leverage ratio of 0.8x, supporting inorganic growth
- Capex of Rs 1,971 crores aligned with growth priorities and yearly guidance, about 59% of EBITDA for the half-year period
Disclosures
- SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
Source Information
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