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Motilal Oswal Report
Motherson Sumi Wiring India Ltd.'s Q4 FY24 result was marginally below estimate as Ebitda came in at Rs 2.9 billion (estimate: Rs 3.05 billion), up 34% YoY, led by higher other expenses.
It is currently in the process of adding two new facilities, which will increase the existing capacity by 10-15%. This will get operational by Q1 FY25.
We slightly tweak our FY25 estimates to factor in for higher raw material costs. Reiterate our Buy rating with a target price of Rs 80 (35 times FY26E earnings per share).
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