Mumbai, July 28 (IANS) Noida-based auto components maker Motherson Sumi Wiring India Limited on Monday reported a 4 per cent decline in net profit year-on-year (YoY) in the first quarter (Q1) of FY26.

The auto components manufacturer recorded a net profit of Rs 143 crore for the June quarter, compared to Rs 149 crore in the same period previous year (Q1 FY25), according to its stock exchange filing.

The company’s revenue grew by 14.2 per cent to Rs 2,494 crore during the quarter, driven by new model launches and increased content per vehicle.

Despite this rise in revenue, the company’s operating margins came under pressure due to ramp-up costs at new Greenfield projects.

Operating margins narrowed to 9.8 per cent in Q1 FY26, down from 10.9 per cent in the year-ago quarter.

In an exchange filing, the company said its earnings before interest, taxes, depreciation and amortisation (EBITDA) stood at Rs 244.2 crore, up 2.3 per cent from Rs 238.7 crore in the same quarter previous year.

The electric vehicle (EV) segment contributed 5.4 per cent to the total revenue in Q1.

Chairman Vivek Chaand Sehgal said the company had delivered strong revenue growth, outperforming the broader auto industry.

He acknowledged that ramp-up at a specific Greenfield project was slower than expected, but affirmed that the company remains on track with its expansion plans to support the evolving needs of original equipment manufacturers (OEMs).

Motherson Sumi Wiring India was established in 2020 after the demerger of the domestic wiring harness business from its parent company.

It is promoted by Samvardhana Motherson International Limited and receives technological support from Japan’s Sumitomo Wiring Systems.

The company has a wide network of manufacturing and technical centres located close to major automotive OEM hubs across India, allowing it to deliver wiring harness solutions on time and efficiently.

It also remains debt-free, which supports its ongoing expansion strategy.

Shares of Motherson Sumi Wiring ended the day 1.2 per cent lower at Rs 40 on the Bombay Stock Exchange (BSE).

–IANS

pk