Samvardhana Motherson raises FY26 capex by 35% to Rs 6,000 crore

Samvardhana Motherson International Ltd (SMIL) is significantly increasing its strategic investments, with capital expenditure for the financial year 2026 (FY26) projected to rise by 35% year-over-year.

According to its investor presentation, the company plans to incur capital expenditures of Rs 6,000 crore in FY26, compared to Rs 4,433 crore in FY25. 

Of the Rs 6,000 crore earmarked, SMIL plans to allocate 50% towards growth initiatives and the remaining 50% for regular capex. Notably, 70% of the growth-oriented capex will be directed towards the non-automotive business.

The allocation reflects the company’s auto component manufacturer's dual-pronged strategy - expanding its non-automotive ventures while simultaneously bolstering its core automotive offerings through new solutions and enhanced production capacity.

SMIL, which clocked Rs 1.14 lakh crore in annual revenue, operates its business through five business segments - Wiring Harness, Vision Systems, Modules and Polymer Products, Integrated Assemblies and Emerging Business. 

While the first four segments serve the automotive sector, the emerging business diversifies into non-automotive solutions. These include elastomers, lighting and electronics, precision metals and modules, and technology and industrial solutions, catering to industries like aerospace and healthcare.

Among overall business, the modules and polymer products business is the largest revenue contributor, followed by wiring harnesses, vision systems, emerging business and integrated assemblies. The automotive business currently accounts for around 72% of the company’s revenue.

For future growth, SMIL is banking on new solutions for the automotive industry with a greenfield project in India for the Printed Circuit Board Assembly (PCBA), capacity enhancement for existing supplies across segments in emerging markets (India, China, Poland, Mexico), and new geographies such as UAE. On the non-automotive side, the company is setting up a greenfield facility in India to manufacture and assemble components for semiconductor manufacturing machines. 

SMIL noted that a total of 14 greenfield projects, seven each in automotive and non-automotive businesses, are at various stages of completion with nine of them expected to come onstream in FY26.