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Makes automotive wiring harnesses for Indian OEMs, demerged from Samvardhana Motherson's global harness business.
Makes automotive wiring harnesses for Indian OEMs, demerged from Samvardhana Motherson's global harness business.
Supplies harnesses built to each vehicle model's design and delivered to carmakers' assembly lines in sequence, so revenue follows customers' production volumes. The Sumi in the name dates from a partnership with Sumitomo Wiring Systems of Japan, and it sits inside the wider Motherson group.
Moat: narrow (customer qualification, switching costs). Wiring harnesses are custom-designed per vehicle platform, creating switching costs, but several qualified suppliers compete for each program.
Headquarters: Noida, India · Founded: 2022 · Employees: 63,139
Size Motherson Sumi Wiring India (MSUMI.NS) is an India Consumer Discretionary company (Auto Parts: OEM) with a market value of $2.75B, the 308th largest of 1,058 India companies the cockpit tracks. Shares closed at ₹39.14 on 6 Nov 2026.
Performance Over six months the shares fell 8.6%, against -12.4% for the median peer and 0.0% for the India market (cap-weighted) — 9th highest of 21 in its peer set.
Growth Revenue grew 35.9% over the last twelve months (peer median +9.3%); the operating margin is 6.8% (peer median 7.6%).
Valuation It trades at 32.1× forward earnings against a peer median of 21.7× (7th most expensive of 20).
Price implies For today's price to make sense, revenue must grow about 30% a year for seven years (Req g). Recent delivered growth is +24%, so the hurdle is +6 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 14.3 points above its cost of capital (14.9% WACC).
Next results Next results expected around 14 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ₹137B | ₹115B | ₹93.0B | ₹83.0B | ₹70.6B |
| Revenue growth | — | +23% | +12% | +18% | — |
| Gross profit | ₹17.0B | ₹12.5B | ₹11.7B | ₹11.5B | ₹9.34B |
| EBITDA | ₹11.7B | ₹10.6B | ₹9.92B | ₹9.94B | ₹7.86B |
| Net income | ₹6.85B | ₹6.25B | ₹6.06B | ₹6.38B | ₹4.87B |
| Free cash flow | n/a | ₹5.56B | ₹1.80B | ₹6.56B | ₹18.0M |
| Capital expenditure | n/a | ₹2.01B | ₹1.72B | ₹1.11B | ₹1.99B |
| Total debt | ₹2.96B | ₹2.33B | ₹2.69B | ₹2.59B | ₹3.73B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Motherson Sumi Wiring India MSUMI.NS | $2.75B | -9% | +36% | 7% | 32.1× | 30.0% |
| Lear LEA | $5.31B | -21% | +4% | 4% | 6.9× | -1.3% |
| Fujikura 5803.T | $33.0B | -50% | +28% | 19% | 14.3× | 28.9% |
| Samvardhana Motherson International MOTHERSON.NS | $17.9B | +22% | +14% | 6% | 30.2× | 30.9% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | MSUMI.NS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +16.6% | -5.0% | 4th highest of 21 |
| 6-month return | -8.6% | -12.4% | 9th highest of 21 |
| Distance from 52-week high | -27.0% | -30.6% | 10th highest of 21 |
| Revenue growth (TTM) | +35.9% | +9.3% | highest of 21 |
| Operating margin | 6.8% | 7.6% | 9th lowest of 21 |
| Forward P/E | 32.1× | 21.7× | 7th most expensive of 20 |
| Growth the price implies (Req g, 7 yrs) | 30.0% | 9.1% | 4th most demanding of 17 |
| Growth delivered (Del g) | +23.8% | +10.5% | 3rd highest of 17 |
| Hurdle (Req g minus delivered) | +6.1 pp | +0.3 pp | 8th most demanding of 17 |
| ROIC minus cost of capital | +14.3 pp | -2.4 pp | highest of 21 |
| EV / EBITDA | 22.4× | 6.6× | 4th most expensive of 14 |
| Net debt / EBITDA | 0.2× | 0.5× | 5th least indebted of 14 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Motherson Sumi Wiring India MSUMI.NS | India | $2.75B | -9% | +36% | 7% | 32.1× | 30.0% | +23.8% |
| ZF Commercial Vehicle Control Systems India ZFCVINDIA.NS | India | $2.76B | -5% | +9% | 13% | 44.2× | 31.9% | +17.3% |
| TVS TVSHLTD.NS | India | $2.78B | -10% | +35% | 14% | n/a | n/a | n/a |
| Escorts Kubota ESCORTS.NS | India | $2.84B | -27% | +19% | 9% | 21.8× | 21.0% | +10.7% |
| Shanghai Beite Technology 603009.SS | China | $2.64B | +11% | +9% | 7% | 114.7× | n/a | n/a |
| Zhejiang Wanfeng Auto Wheel 002085.SZ | China | $2.64B | -36% | -2% | 7% | 19.5× | 3.7% | +8.4% |
| Sansera Engineering SANSERA.NS | India | $2.86B | +70% | +23% | 13% | 61.5× | n/a | n/a |
| NSK 6471.T | Japan | $2.87B | -27% | +26% | 5% | 12.9× | 1.9% | +4.0% |
| WuHu Foresight Technology 301529.SZ | China | $2.89B | +66% | +4% | 9% | 113.6× | 55.9% | +29.9% |
| Shanghai Daimay Automotive Interior 603730.SS | China | $2.90B | -18% | -2% | 13% | 22.7× | 13.0% | +10.3% |
| Feilong Auto Components 002536.SZ | China | $2.60B | -20% | +5% | 4% | 35.4× | n/a | n/a |
| Gabriel India GABRIEL.NS | India | $2.58B | +22% | +24% | 7% | 47.7× | 55.1% | +22.5% |
| Changzhou Xingyu Automotive Lighting Systems 601799.SS | China | $2.92B | -45% | +2% | 9% | 13.4× | -0.6% | +15.8% |
| Valeo FR.PA | France | $3.00B | -15% | -2% | 4% | 7.3× | -8.2% | +4.9% |
| PHINIA PHIN | United States | $2.48B | -14% | +6% | 9% | 10.1× | 0.4% | +27.5% |
| Stanley Electric 6923.T | Japan | $2.41B | +1% | +11% | 7% | 9.9× | 1.3% | +7.6% |
| Sundram Fasteners SUNDRMFAST.NS | India | $2.40B | +24% | +17% | 12% | 31.6× | 28.4% | +11.6% |
| NHK Spring 5991.T | Japan | $3.18B | -14% | +3% | 6% | 9.8× | 5.2% | +7.4% |
| Exide Industries EXIDEIND.NS | India | $3.20B | -2% | +13% | 8% | 21.7× | 27.5% | +11.7% |
| Hanon Systems 018880.KS | South Korea | $2.31B | -28% | +5% | 4% | 12.3× | 3.6% | +9.6% |
| Weifu High-Technology 000581.SZ | China | $2.29B | -11% | +17% | -3% | 10.2× | 16.4% | -1.4% |