Motherson Sumi Wiring India posts rise in Q1 profit on strong demand from automakers

Motherson Sumi Wiring India

05/08/2024 12:31

BENGALURU/CHENNAI, Aug 5 (Reuters) - Motherson Sumi Wiring India  MSWI.NS  reported a 21% rise in
first-quarter profit on Monday, helped by strong demand for wiring harnesses in automobiles.
    The company's profit rose to 1.49 billion rupees ($17.7 million) in the three months ended June 30, from
1.23 billion rupees a year earlier.
    The company, which supplies to Maruti Suzuki  MRTI.NS  and Tata Motors  TAMO.NS , said its total revenue
from operations rose 17% to 21.85 billion rupees.
    For more highlight, click (full story)
    
    KEY CONTEXT
    During the June quarter, car sales in India increased, largely driven by strong demand for sports utility
vehicles (SUVs).
    Despite the challenging conditions posed by heat waves, which influenced consumer purchasing decisions,
the appeal of SUVs drove sales.

    
    PEER COMPARISON    
                                   Valuation     Estimates (next 12         Analysts' sentiment       
                                   (next 12           months)                                         
                                    months)                                                           
                      RIC        PE     EV/EBI  Revenue     Profit    Mean     # of     Stock to      Div
                                        TDA     growth (%)  growth    rating*  analyst  price         yield
                                                            (%)                s        target**      (%)
 Motherson Sumi        MSWI.NS   37.79   24.39    14.93      23.43    Buy           11      0.87          1.10
 Wiring India                                                                                         
 Bosch                 BOSH.NS   44.43   35.63    11.79      26.38    Hold           4      1.20          1.11
 UNO Minda             UNOI.NS   49.30   28.45    17.51      25.62    Buy           17      1.07          0.20
 Exide Industries      EXID.NS   31.57   18.58     9.91      21.45    Hold          14      1.09          0.39
 * The mean of analyst ratings standardised to a scale of Strong Buy, Buy, Hold, Sell, and Strong Sell
** The ratio of the stock's last close to analysts' mean price target; a ratio above 1 means the stock is
trading above the PT
    
    APRIL-JUNE STOCK PERFORMANCE
     
    
-- All data from LSEG IBES
-- $1 = 84.1300 Indian rupees
     

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MSWI Q1    https://tmsnrt.rs/4cd3oiY
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 (Reporting by Ashna Teresa Britto in Bengaluru and Praveen Paramasivam in Chennai; Editing by Rashmi Aich)
 ((AshnaTeresa.Britto@thomsonreuters.com;))