Auto Ancillaries · MSUMI
Auto Ancillaries - Diversified
from 40 today
Motherson Wiring's 1Q PAT came in line with estimates, but EBITDA margin remained under pressure due to a surge in copper prices. With copper prices now stabilizing, we expect margins to gradually normalize and reiterate our BUY rating with a TP of INR48.
Motherson Sumi Wiring India reported revenue 5% above estimates while margins were impacted by higher copper prices and minimum wage revisions. Growth momentum remains robust, driven by higher content per vehicle and premiumisation, and the report retains a BUY rating with an unchanged target price of INR 50.
Ratings and target prices as published by each firm. Each summary condenses that firm's stated view in its own note and is attributed to it; no report text is reproduced.
