Motherson Sumi Wiring India Ltd

Motherson Wiring Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

Motherson Sumi Wiring India Ltd

₹ 73.0 -1.63%
02 Jul 4:01 p.m.
mswil.motherson.com BSE: 543498 NSE: MSUMI
About

Motherson Sumi Wiring India, a JV between Sumitomo Wiring System and Motherson Group, is a market leader in the Indian wiring harness industry with a market share of over 40%.[1]

Key Points

Business Profile[1]
Motherson Sumi Wiring India Limited (MSWIL) was established in FY22 as a result of the reorganization of Samvardhana Motherson International Limited wherein the automotive wiring harness business for Indian OEMs was demerged from the parent company and established under MSWIL.
MSWIL is a JV with Sumitomo Wiring Systems, Ltd., a global leader in the manufacture of wiring harnesses, harness components, and other electric wires.

Website BSE NSE
  • Market Cap ₹ 32,270 Cr.
  • Current Price ₹ 73.0
  • High / Low ₹ 80.0 / 57.3
  • Stock P/E 50.6
  • Book Value ₹ 3.79
  • Dividend Yield 0.89 %
  • ROCE 48.0 %
  • ROE 42.4 %
  • Face Value ₹ 1.00
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Pros

  • Company has reduced debt.
  • Company has a good return on equity (ROE) track record: 3 Years ROE 48.2%
  • Company has been maintaining a healthy dividend payout of 59.9%

Cons

  • Stock is trading at 19.2 times its book value

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Sector: Auto Ancillaries Industry: Auto Ancillaries

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Quarterly Results

Figures in Rs. Crores

Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024
1,510 1,114 1,400 1,460 1,662 1,671 1,835 1,687 1,872 1,859 2,105 2,115 2,233
1,282 997 1,214 1,251 1,443 1,468 1,654 1,508 1,655 1,665 1,856 1,853 1,941
Operating Profit 229 117 186 209 219 203 181 179 217 194 248 262 291
OPM % 15% 10% 13% 14% 13% 12% 10% 11% 12% 10% 12% 12% 13%
16 5 8 8 -56 8 11 1 5 14 6 1 4
Interest 3 3 3 4 19 7 6 7 9 8 7 6 6
Depreciation 13 13 13 12 67 28 30 32 35 34 36 38 39
Profit before tax 230 106 178 200 76 176 156 141 179 166 210 219 250
Tax % 26% 26% 25% 24% 39% 28% 25% 25% 22% 26% 26% 23% 24%
170 79 134 152 46 126 116 106 138 123 156 168 191
EPS in Rs 0.10 0.28 0.26 0.24 0.31 0.28 0.35 0.38 0.43
Raw PDF

Profit & Loss

Figures in Rs. Crores

Mar 2021 Mar 2022 Mar 2023 Mar 2024
3,938 5,635 7,057 8,328
3,385 4,905 6,276 7,315
Operating Profit 553 730 781 1,013
OPM % 14% 13% 11% 12%
24 -35 22 7
Interest 7 28 28 27
Depreciation 37 106 124 147
Profit before tax 532 561 652 846
Tax % 26% 27% 25% 25%
396 411 487 638
EPS in Rs 0.93 1.10 1.44
Dividend Payout % 0% 65% 59% 55%
Compounded Sales Growth
10 Years: %
5 Years: %
3 Years: 28%
TTM: 18%
Compounded Profit Growth
10 Years: %
5 Years: %
3 Years: 17%
TTM: 31%
Stock Price CAGR
10 Years: %
5 Years: %
3 Years: %
1 Year: 26%
Return on Equity
10 Years: %
5 Years: %
3 Years: 48%
Last Year: 42%

Balance Sheet

Figures in Rs. Crores

Mar 2021 Mar 2022 Mar 2023 Mar 2024
Equity Capital 0 316 442 442
Reserves -0 799 888 1,235
96 283 373 259
1,693 1,164 1,195 1,203
Total Liabilities 1,789 2,562 2,898 3,139
170 432 579 600
CWIP 0 32 27 24
Investments 0 0 0 0
1,620 2,097 2,292 2,515
Total Assets 1,789 2,562 2,898 3,139

Cash Flows

Figures in Rs. Crores

Mar 2021 Mar 2022 Mar 2023 Mar 2024
11 501 224 791
-28 -101 -194 -208
25 -144 -287 -452
Net Cash Flow 8 256 -257 131

Ratios

Figures in Rs. Crores

Mar 2021 Mar 2022 Mar 2023 Mar 2024
Debtor Days 63 43 41 39
Inventory Days 116 97 95 76
Days Payable 109 92 73 62
Cash Conversion Cycle 69 47 64 54
Working Capital Days 55 36 49 42
ROCE % 88% 44%

Shareholding Pattern

Numbers in percentages

Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
61.73% 61.73% 61.73% 61.73% 61.73% 61.74% 61.75% 61.73% 61.73%
14.89% 8.60% 10.47% 11.03% 9.92% 10.93% 11.08% 11.01% 10.96%
13.42% 20.81% 19.13% 18.26% 18.94% 17.77% 17.56% 17.12% 16.22%
0.00% 0.00% 0.09% 0.09% 0.09% 0.21% 0.21% 0.21% 0.00%
9.96% 8.86% 8.57% 8.89% 9.32% 9.33% 9.41% 9.93% 11.11%
No. of Shareholders 6,78,2386,43,8616,48,3486,78,2826,85,4016,94,2197,21,7607,75,5668,88,941

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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Documents

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Credit ratings

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