Motherson Sumi Wiring India Ltd. reported a marginal decline in net profit for the fourth quarter of fiscal year 2025, as the company continues to expand its manufacturing capabilities through greenfield projects.
The automotive wiring harness manufacturer posted a net profit of Rs 188 crore for the January-March period, down 1.6% from Rs 191 crore in the same quarter a year earlier. The decline comes despite a 7.1% increase in revenue, which rose to Rs 2,391 crore from Rs 2,233 crore in the corresponding period of fiscal 2024.
Motherson Sumi Wiring attributed the robust revenue growth to its ongoing strategic expansions, including new greenfield facilities. In a statement, the company noted that one of its three greenfield projects has commenced production this fiscal year, while the other two are progressing as planned and are expected to begin operations on schedule.
Strategic Investments in EV and ICE
The company outlined the status of its greenfield projects, emphasizing their importance in catering to the evolving automotive market, including both electric (EV) and internal combustion engine (ICE) vehicles.
The Pune (Maharashtra) facility, dedicated to EV and ICE powertrain production, began operations in the second quarter of FY25, while an EV-specific project launched in the fourth quarter. Another EV-focused facility at Navagam (Gujarat) is scheduled to start in the first quarter of FY26, with ICE operations following by the second quarter. Additionally, the ICE project in Kharkhauda (Haryana) is on track for a Q2FY26 launch.
Motherson Sumi Wiring's strategic pivot towards EV components is gaining traction, with the company's electric vehicle segment accounting for 4% of its total revenue in Q4FY25.