Motherson Sumi Wiring: Copper Volatility to Ease, Margins Stabilising

• Motherson Sumi Wiring India (MSWIL) is confident about its growth, driven by strong domestic automotive demand and increasing content per vehicle.
• Near-term margin pressure from high copper prices and currency volatility is expected to normalise due to pass-through mechanisms in customer contracts.
• Anurag Gahlot, COO, stated that recent margin softness is temporary and does not affect the company's medium-term profitability outlook.
• The company maintains a focus on high capital efficiency, targeting Return on Capital Employed (ROCE) above 40%, with expansion aligned to confirmed customer orders.
• MSWIL is future-ready, supplying wiring harnesses across EV, ICE, and hybrid platforms, with EV revenues currently around 6% of Q3 sales.

Why It Matters: Motherson Sumi Wiring expects margin stability as copper price volatility eases and pass-through contracts take effect.