Samvardhana Motherson International Limited Q4 FY2026 Results
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Overview
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Detailed Analysis
Sentiment
Negative
Executive Summary
MOTHERSON Q4 FY2026: Revenue ₹29,316.83 Cr (vs ₹34,309.31 Cr YoY), PAT ₹1,115.38 Cr (vs ₹1,561.56 Cr YoY)
Samvardhana Motherson reported Q4 FY2026 consolidated revenue of ₹29,316.83 Cr and consolidated profit after tax of ₹1,115.38 Cr, both down YoY reflecting softer volumes and margin pressure. EBITDA contracted versus prior-year quarter and the company recorded a sizeable positive other comprehensive income in the quarter driven by retranslation/other items. The quarter included exceptional charges linked to labour-code related adjustments and phased operational restructuring in Europe while the Board recommended a final dividend of ₹0.25 per share (total FY dividend ₹0.60 per share). Management...Total revenue from operations (Consolidated) Q4 FY2026
₹29,316.83 Crvs ₹34,309.31 Cr in Q4 FY2025
Profit for the period (Consolidated) Q4 FY2026
₹1,115.38 Crvs ₹1,561.56 Cr in Q4 FY2025
Total EBITDA (Consolidated) Q4 FY2026
₹2,674.98 Crvs ₹3,805.49 Cr in Q4 FY2025
Earnings per share - Basic (Consolidated) Q4 FY2026
₹1.00vs ₹1.42 in Q4 FY2025
Other comprehensive income (net of tax) Q4 FY2026
₹1,414.17 Crvs ₹137.50 Cr in Q4 FY2025
Exceptional (expenses) Q4 FY2026
(₹194.40) Crvs ₹0.00 Cr in Q4 FY2025
Key Highlights
7
Wiring harness segment revenue declined to ₹8,594.14 Cr in Q4 FY2026 from ₹10,235.62 Cr in Q4 FY2025, reflecting weaker volumes in the quarter.
Modules & polymer products remained the largest segment in Q4 FY2026 with revenue of ₹15,359.07 Cr, down from ₹16,736.71 Cr in Q4 FY2025, indicating softer aftermarket/OEM demand mix.
The quarter included one-off impacts related to India labour-code related incremental gratuity/compensated absence adjustments and phased operational restructuring in Europe, resulting in non-operational charges.
Emerging businesses revenue fell to ₹3,228.16 Cr in Q4 FY2026 from ₹5,150.49 Cr in Q4 FY2025, driven by lower activity in non-core/adjacent businesses in the quarter.
Consolidated total comprehensive income for the quarter was supported by large retranslation/other items, producing positive other comprehensive income despite lower operating profit.
Board recommended a final dividend of ₹0.25 per share for FY2025-26, taking total dividend to ₹0.60 per share versus ₹0.57 per share in FY2024-25.
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Key Highlights
7
Wiring harness segment revenue declined to ₹8,594.14 Cr in Q4 FY2026 from ₹10,235.62 Cr in Q4 FY2025, reflecting weaker volumes in the quarter.
Modules & polymer products remained the largest segment in Q4 FY2026 with revenue of ₹15,359.07 Cr, down from ₹16,736.71 Cr in Q4 FY2025, indicating softer aftermarket/OEM demand mix.
The quarter included one-off impacts related to India labour-code related incremental gratuity/compensated absence adjustments and phased operational restructuring in Europe, resulting in non-operational charges.
Emerging businesses revenue fell to ₹3,228.16 Cr in Q4 FY2026 from ₹5,150.49 Cr in Q4 FY2025, driven by lower activity in non-core/adjacent businesses in the quarter.
Consolidated total comprehensive income for the quarter was supported by large retranslation/other items, producing positive other comprehensive income despite lower operating profit.
Board recommended a final dividend of ₹0.25 per share for FY2025-26, taking total dividend to ₹0.60 per share versus ₹0.57 per share in FY2024-25.
The Group completed acquisition of Yutaka Autoparts India Private Limited on March 16, 2026, making it a wholly-owned subsidiary and expanding component footprint in India.
Guidance & Outlook
4
Board recommended final dividend of ₹0.25 per share for FY2025-26, bringing total FY dividend to ₹0.60 per share, subject to shareholder approval.
Management continues to pursue phased operational restructuring and cost optimisation measures (announced April 10, 2025) to improve margins going forward.
Group announced acquisitions during the period (including Yutaka Autoparts India) as part of inorganic growth strategy to deepen product offerings in auto components.
Capital investment activity remains significant
Risks & Concerns
5
YoY revenue and EBITDA contraction in Q4 FY2026 point to near-term margin pressure and demand softness in core automotive end markets.
Exceptional charges and labour-code related adjustments introduce earnings volatility and can recur as regulations and implementation evolve.
High trade receivables at consolidated year-end (₹19,880.99 Cr as at March 31, 2026) versus ₹17,430.70 Cr a year earlier increase working-capital risk and potential collection pressure.
Group’s finance costs remain material and CCD-related interest includes non-cash amortisation components which increased consolidated finance cost dynamics for the year.
Emerging businesses saw a notable revenue decline in the quarter, exposing the Group to execution and cyclical risk in non-core segments.
AI-generated analysis. May contain inaccuracies — verify against original sources.