More Stories

Informist, Monday, May 18, 2026

By Anand JC

NEW DELHI – Samvardhana Motherson International Ltd. is expected to report its best profit performance in 2025-26 (Apr-Mar) in the March quarter due to a low base, execution of a healthy order book, benefits from integration of recent acquisitions, and depreciation of the rupee against the dollar, according to analysts' projections. Its revenue growth for the reporting quarter is expected to be slightly lower than the December quarter but better than in the year-ago quarter, estimates show.

The company's consolidated net profit for the quarter under review is expected to rise almost 20% on year and nearly 18% on quarter to INR 12.59 billion, according to the average of 10 analyst estimates. Samvardhana Motherson's profit growth will likely benefit from a low base in the March quarter of FY25, which in turn resulted from a two-fold growth in the company's profit in the March quarter of FY24.

Samvardhana Motherson's profit had grown 17% on year in the December quarter, fell 6% in the September quarter, and declined 49% in the June quarter. The highest forecast for the company's bottom line is INR 17.88 billion by Emkay Global Financial Services Ltd. and the lowest estimate is INR 7.40 billion by YES Securities (India) Ltd.

The automobile component-maker's consolidated revenue from operations for the recently concluded March quarter is projected at INR 329.03 billion, up 12% on year and almost 5% on quarter, according to the average of 10 estimates. The projections for the company's top line range from a low of INR 316.45 billion by Nuvama Wealth Management Ltd. and a high of INR 335.59 billion by Nomura Equity Research.

The Noida-based multinational automotive component manufacturer is steadily expanding its presence in select non-automotive segments. While a large share of its revenue comes from modules and polymer products, it also has a significant footprint in wiring harnesses, camera-based vision systems, and integrated assemblies such as cockpit and door modules, among other offerings. Its key clients include Volkswagen, Mercedes-Benz, Audi, BMW, and Maruti Suzuki India Ltd. The company continues to expand internationally even as weak global demand has weighed on the earnings growth of Indian auto ancillary firms with overseas exposure.

Inorganic growth has been a key strategy for the company in recent years. Under its Vision 2025 plan, it completed 23 acquisitions between FY21 and FY25 to scale up operations, diversify capabilities, and broaden its geographic reach. In recent years, it has also entered sectors such as aerospace, healthcare and medical devices, logistics solutions, and consumer electronics.

Samvardhana Motherson integrated the business of Japanese firm Atsumitec Co. Ltd. into its financials for the first time in the December quarter, which was reflected in its emerging businesses segment. "SAMIL's (Samvardhana Motherson) consolidated revenues should increase by 11% YoY in 4QFY26, owing to an increase in China and India PV production volumes, a gradual ramp-up of new program wins, consolidation of Atsumitec (2-3% impact)," said Kotak Securities in a report.

The company's consolidated earnings before interest, tax, depreciation, and amortisation for the March quarter are projected at INR 32.20 billion, up 20% on year and nearly 6% on quarter, according to the average of eight estimates. The highest estimate for its EBITDA is INR 34.13 billion by Nomura and the lowest projection is INR 30.30 billion by YES Securities.

"Consolidated EBITDA margin is expected to improve to ~9.8% levels (vs ~9.0% in Q4 FY25), reflecting improving scale benefits across subsidiaries and a better product mix," Batlivala & Karani Securities India Pvt. Ltd. said. Samvardhana Motherson has not declared dates for disclosure of its financial results.

For FY26, Motilal Oswal expects Samvardhana Motherson's consolidated net profit to be flat on year at INR 39.19 billion while its revenue is projected to grow almost 10% on year to INR 1.25 trillion.

At 1504 IST, shares of the company traded 0.7% lower at INR 129 on the National Stock Exchange. The stock has remained flat since the company announced its December quarter earnings on Feb. 10.

All eight research reports on the company available with Informist have a ‘buy' or equivalent recommendation on the stock with an average target price of INR 147, which is around 18% higher than its current market price.

Following are the consolidated Jan-Mar earnings estimates for Samvardhana Motherson International Ltd. based on reports from 10 brokerages in descending order of the estimate of net profit, in INR billion:

End

Edited by Akul Nishant Akhoury

For users of real-time market data terminals, Informist news is available exclusively on the NSE Cogencis WorkStation.

Cogencis news is now Informist news. This follows the acquisition of Cogencis Information Services Ltd. by NSE Data & Analytics Ltd., a 100% subsidiary of the National Stock Exchange of India Ltd. As a part of the transaction, the news department of Cogencis has been sold to Informist Media Pvt. Ltd.

Informist Media Tel +91 (11) 4220-1000

Send comments to feedback@informistmedia.com

© Informist Media Pvt. Ltd. 2026. All rights reserved.