Samvardhana Motherson International Limited (MOTHERSON)
Large CapAuto stocks · Large cap · NSE
Samvardhana Motherson International Limited (MOTHERSON) is a global D.E.M.A.L. specialist providing solutions across automotive (wiring harness, polymer products, vision systems, integrated assemblies) and emerging non-automotive businesses (aerospace, consumer electronics, health & medical, logistics, technology & industrial solutions).
One read, four checks
75+ is strong, 60-74 is usable, 45-59 is mixed, and below 45 needs caution. These are research lenses, not buy/sell instructions.
Weak fundamentals, management trust is supportive, price trend is neutral, and recent execution is consistent.
Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.
low confidence · 0/0 claims checked
Timing lens: price trend and sector relative strength.
Rolling lens: recent quarterly delivery, not the latest single-result score.
Quarter ended 30 Jun 2026
Excellent · 90/100Rev +17% YoY · PAT +78% YoY · margin expansion · operating leverage
| Metric | This quarter | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹35,244 Cr | +16.7% | +2.7% |
| EBITDA | ₹3,096 Cr | +26.0% | -18.3% |
| Operating margin | 9.0% | +100 bps | -200 bps |
| PAT | ₹1,076 Cr | +77.6% | -31.1% |
| PAT margin | 3.0% | +104 bps | -150 bps |
NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.
Business & thesis
Growth engines, tailwinds/headwinds, and risk radar from management commentary
Business & thesis
Growth engines, tailwinds/headwinds, and risk radar from management commentary
Where growth can come from, and what can break the case
MOTHERSON reports highest-ever quarterly and annual revenue in Q4 FY26 and FY26, driven by robust performance across businesses and operational efficiencies, despite commodity cost pressures.
The company delivered record revenues and improved profitability, supported by strategic investments in growth capex and M&A. Leverage ratio is at an all-time low, indicating strong financial discipline. Emerging businesses and planned OEM launches are expected to sustain growth, though commodity price volatility remains a concern.
Booked Business by Automotive Segments (as on Mar 31, 2026)
Latest issuer-disclosed distribution across 5 reported categories.
Emerging Markets Focus
Emerging markets drove LV growth in FY26; all 16 capacity expansions are in EMs.
European OEM Launches
Planned European OEM launches in FY27 expected to support growth.
Consumer Electronics Scale-up
7.5x revenue growth YoY in FY26, achieved EBITDA profitability, third facility on track for Q3FY27 commissioning.
Aerospace Business Expansion
40% YoY revenue growth in FY26, ~10x top-line expansion over 3 years, order book grew 20%+ YoY.
Wiring Harness
India (Wires Backward Integration, Q4FY27), Morocco (Capacity Expansion, Q1FY27 & Q1FY28), Poland (Wires Backward Integration, Q4FY27).
Vision System
Morocco (Rear-view Mirrors Capacity Expansion, Q1FY28), India (ORVMs and SMT Capacity Expansion, Q1FY28).
Modules and Polymer Products
Poland (Capacity Expansion, Q1FY27), UAE (Capacity Expansion, Q1FY27).
Lighting and Electronics
India (PCBA New Capability, Q2FY27; Consumer Electronics Capacity Expansion and Backward Integration, Q3FY27).
Emerging Markets Growth
Emerging markets drove Light Vehicle growth in FY26.
Developed Market CV Outlook
Developed market Commercial Vehicle industry ended FY26 on a positive note; outlook remains favorable for FY27.
Robust Order Book
Strong booked business of USD 96 billion provides growth visibility.
Commodity Cost Pressures
Copper prices increased sharply by ~16% QoQ, continuing commodity cost pressures.
Geopolitical Tensions
Geopolitical tensions in the Middle East led to crude price inflation towards the end of Q4 FY26.
Weak Demand in Key Markets
MPP business remained on a soft footing amid weak demand across key markets.
Commodity Price Volatility
Sharp increases in copper and crude prices can impact margins despite cost optimization efforts.
Geopolitical Instability
Geopolitical tensions have heightened inflationary pressures and prompted central banks to remain cautious on rate cuts.
Industry Slowdown
Vision Systems business demonstrated resilience despite industry headwinds, but a prolonged slowdown could impact performance.
Management accountability
What management said, and what results must prove
Management accountability
What management said, and what results must prove
What management said, and what results must prove
Issuer guidance and extracted claims are tracked against later reported outcomes. Treat these as management statements, not IndiaPulse forecasts.
The document presents both Q4 FY26 vs Q4 FY25 and 12M FY26 vs 12M FY25 results. This allows for assessment of both recent sequential momentum and full-year trends, which is crucial for a global auto ancillary business with seasonal variations and long project cycles.
Consolidated Revenue (Q4 FY26)
Rs 34,309 Crores, up 17% YoY.
Consolidated EBITDA (Q4 FY26)
Rs 3,805 Crores, up 42% YoY. Margins improved to 11.1% from 9.1% YoY.
Normalized PAT (Concern Share) (Q4 FY26)
Rs 1,674 Crores, up 66% YoY.
Consolidated Revenue (12M FY26)
Rs 126,104 Crores, up 11% YoY. Highest ever annual revenue.
Future Growth Investments
Investments are focused on 'Future Growth' with ~50% growth capex and ~60% on non-auto businesses.
Sustaining Financial Discipline
Company aims to sustain financial discipline and robust balance sheet strength, with a leverage ratio policy of 2.5x.
Unlocking New Growth Opportunities
Vision is to be a globally preferred sustainable solutions provider, combining operational excellence and global presence to power multi-industry expansion.
FY27 Capex Guidance
Capex guidance for FY27 is Rs 6,000 Crores (+/-10%).
Numbers and claims to verify in the next filings
| Checkpoint | Current evidence | What to verify next |
|---|---|---|
| Leverage Ratio | 0.8x (Mar-26) | Maintenance below the 2.5x policy, especially with continued growth capex. |
| Consumer Electronics Production Run-rate | Achieved in Q4 FY26 in-line with 14-16 million units annual guidance. | Successful commissioning of the third facility in Q3 FY27 and sustained profitability. |
| Aerospace Order Book Growth | 20%+ YoY growth. | Continued expansion of product portfolio and securing new orders across platforms. |
| MPP Margin Expansion | FY26 margins improved by ~40 bps YoY to 8.1%. | Sustained cost-saving actions and business recovery to further support margin expansion. |
Verification checkpoints are IndiaPulse research interpretation, not investment advice.
Trend score and candlestick chart
50NeutralSMA20 +12.9% / mo · MACD − · near 52W high · sector -3.3pp vs Nifty (3M)
Technical chart
MOTHERSONdaily · 1Y · AUTO+27.2%Daily technical trend read
Mixed signalsSignals are conflicting — long-term uptrend intact. RSI 47. Wait for confirmation.
- Price above SMA200 (long-term uptrend) but mid-term MAs not aligned.
- SMA20 rising (~11.4% over last month) — short-term momentum positive.
- RSI(14) at 47 — falling, no extreme reading.
- MACD below signal, histogram expanding negatively — bearish momentum building.
- 7% off 52W high · 69% above 52W low.
Mechanical read from the price + indicator series above. Not a recommendation — technical setups can reverse without warning, especially around earnings and macro events.
Relative Strength & Trend Stage
- Price is 17.1% above the 30-week proxy.
- The 50-DMA is above the 30-week proxy and its slope is rising +5.5%.
- Both 3-month and 6-month returns are positive.
Valuation & score drivers
U-Score 43 · WATCHLIST · pillar breakdown, sector model, fair-value anchor
Valuation & score drivers
U-Score 43 · WATCHLIST · pillar breakdown, sector model, fair-value anchor
Fundamental score breakdown
WATCHLISTWhy this score?
Top U-Score contributors and drags from the latest stored fundamentals.
Positive drivers
- FCF yield is supportive at 3.0%.
- Piotroski is strong at 8/9.
- Cash flow contributes 8/10 to the score.
Main drags
- Valuation is weaker at 3/30; verify the latest quarterly trend.
- Quality is weaker at 2/20; verify the latest quarterly trend.
- Balance sheet is weaker at 7/15; verify the latest quarterly trend.
Consumer valuation: PE/PEG and brand-quality premium
Consumer franchises can deserve higher multiples, but only when growth quality supports them.
Stored run vs live recompute
This shows the stored score trend when snapshots exist, and also compares the latest stored nightly score with a live recompute from current fundamentals and price.
Score history
12 stored score snapshots. Latest stored move: +4 points.
Factor attribution
Modelled fair value
Trust score
Does management behaviour match later outcomes? Claim delivery, forensic breakdown, evidence depth
Trust score
Does management behaviour match later outcomes? Claim delivery, forensic breakdown, evidence depth
Trust asks: does management behaviour match later outcomes? Higher is better, but confidence and evidence depth matter as much as the number.
Healthy Trust: Claim history is still being built. It ranks around the 93rd percentile of the scored universe and 84th percentile within Auto. No major sub-score weakness stands out.
High Trust Lite: Promoter pledge is zero.
Generally investable credibility. Look for weak sub-scores before increasing position size.
overall median 67 · Auto: 84th pctile, median 74 · Large: 83rd pctile, median 73
160 documents have extracted text, but claim history is not strong enough yet.
0 claims extracted · No contradicted claim yet
How to read this Trust Score
Healthy Trust · low confidenceRead Trust alongside U-Score, result consistency, and technical trend. A cheap stock with weak Trust needs a larger margin of safety; a high Trust score does not make an expensive stock attractive by itself.
Forensic breakdown
Read low sub-scores as due-diligence warnings, not automatic sell signals.
Trust positives
- ▸Promoter pledge is zero.
- ▸FCF yield is positive at 3%.
- ▸11 years of positive FCF.
- ▸4/4 latest quarters had positive YoY revenue growth.
Trust risks
- ▸No major Trust Lite risk flags.
Trust Lite uses financial behaviour only. Prefer claim-tested Trust when enough concall claims have later outcomes.
Financials
Full fundamentals table and 10-year revenue / profit / ROE history
Financials
Full fundamentals table and 10-year revenue / profit / ROE history
Fundamentals
Valuation
- P/E
- 37.10
- P/B
- 4.15
- EV/EBITDA
- 10.60
- Market Cap
- 169610.00Cr
Profitability
- ROE
- 11.20%
- ROCE
- 13.40%
- ROA
- 4.16%
- Dividend Y
- 0.37%
Growth (CAGR)
- Revenue 5Y
- 17.00%
- EPS 5Y
- 32.00%
- Revenue 3Y
- 17.00%
- EPS 3Y
- 40.00%
Balance Sheet
- Debt/Equity
- 0.47
- Interest Coverage
- 7.56×
- Altman Z
- 3.71
- Book Value
- 38.80
Cash Flow
- FCF Yield
- 3.04%
- FCF Positive Y
- 11/5
- OCF
- 11284.00 Cr
- EPS TTM
- 4.15
Shareholding
- Promoter Hold
- 48.60%
- Promoter Pledge
- 0.00%
- Momentum 52W
- 85%
Financial History
Updated 5/9/2026
Revenue
₹ CrNet Profit
₹ CrReturn on Equity
%Peers
Business-comparable names in Auto, ranked by similarity
Peers
Business-comparable names in Auto, ranked by similarity
Peers
Business-comparable peers in Auto — ranked by industry, sub-sector, theme-tag overlap, market cap, and U-Score similarity. Green cells mark the best available peer metric in this table.