Motherson Wiring’s Q4 earnings were ahead of estimates, primarily driven by better-than-expected revenue growth. Its three new greenfields are well on track and expected to help Motherson Wiring outperform industry growth in the next couple of years.
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Motilal Oswal Report
We expect Ebitda margin to expand in FY26, led by a better product mix, rampup of new greenfield plants, and localization efforts. We believe Motherson Sumi Wiring India Ltd. deserves rich valuations, given its strong competitive positioning, top-decile capital efficiency, and benefits of EVs and other megatrends in Autos.
The stock trades at 34.8x/28.5x FY26E/FY27E EPS. Reiterate our Buy rating with a target price of Rs 68 (premised on 34x FY27E EPS).
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