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Informist, Wednesday, Aug. 5, 2026

By Anand JC

MUMBAI – Samvardhana Motherson International Ltd. is forecast to post a steady year-on-year consolidated top-line growth for the June quarter due to an increase in the production volumes of automobiles in India and overseas markets, a healthy order book, consolidation of Atsumitec Co., and benefits from the rapid depreciation of the rupee against the dollar, according to brokerages. The company's bottom line is expected to rise sharply on-year, benefiting from a low base.

The auto part maker's consolidated net profit for the June quarter is seen at INR 9.77 billion, up 51% on year, according to the average of 10 estimates. Brokerage projections for Samvardhana Motherson's bottom line vary sharply; the highest is INR 12.70 billion from 360 ONE Capital Market Pvt. Ltd. and the lowest is INR 7.44 billion from BoFA Securities,

Samvardhana Motherson's consolidated revenue is expected to increase 14% on year to INR 345.45 billion for the June quarter, according to the average of estimates. Forecasts for the company's top line range between a low of INR 328.10 billion from BofA Securities and a high of INR 355.25 billion from 360 ONE Capital Market. Backing up its forecast, 360 ONE Capital said it expects an 18% growth in the company's revenue on the back of robust demand in the domestic market and rising content per vehicle.

Samvardhana Motherson makes car parts, focusing mainly on wiring harnesses, rear view mirrors, and plastic interior and exterior models. The Noida-based multinational automotive component maker is steadily expanding its presence in select non-automotive segments while strengthening its global footprint. It also has a sizeable presence in camera-based vision systems and integrated assemblies such as cockpit and door modules. Its customer base includes Volkswagen, Mercedes-Benz, Audi, BMW, and Maruti Suzuki India.

Kotak Securities expects the auto component firm's revenue to benefit moderately from the further consolidation of Japanese company Atsumitec's operations. The company consolidated the business into its financials for the first time in the December quarter.

Modules and polymer products contribute the bulk of Samvardhana Motherson's revenue. Improved performance in India and markets in the European Union likely supported the growth of this business in the June quarter, Motilal Oswal Financial Services Ltd. said.

A healthy recovery in production of commercial vehicles globally is expected to benefit Samvardhana Motherson's wiring harness division in the June quarter, ICICI Securities Ltd. said. The brokerage expects Samvardhana Motherson's polymer and vision segment to grow under 5% in this period.

Analysts expect the company's top line to benefit from gradual ramp-up of new projects and non-automotive businesses. The latter contributed around 3% to Samvardhana Motherson's booked business as of Mar. 31, the company had said during the investor call in May.

Its consolidated earnings before interest, tax, depreciation, and amortisation for the June quarter are likely to grow over 19% to INR 29.46 billion, according to the average of eight estimates. The lowest forecast for Samvardhana Motherson's EBITDA is INR 27.78 billion from Bofa Securities and the highest is INR 30.81 billion from Nomura Equity Research.

The company's consolidated EBITDA margin for the June quarter is likely to improve moderately year-on-year because of operating leverage, cost reduction measures, and higher contribution from high-margin businesses such as integrated assembly and emerging business, which is expected to be offset by commodity cost pressures.

Samvardhana Motherson will announce its June quarter earnings Thursday. Investors will track the company's strategy to increase content per vehicle and ramp-up revenue from non-auto segments.

Wednesday, shares of Samvardhana Motherson ended 2.2% lower at INR 154.35 apiece on the National Stock Exchange. The shares are up around 16% since the company announced its March quarter earnings on May 20.

Of the 10 research reports on the company available with Informist, nine have a "buy" recommendation on the stock with an average target price of INR 158, which is 3% higher than the stock's closing price Wednesday. Only one brokerage has a "sell" recommendation on the stock with a target price of INR 118 apiece.

The following are the consolidated June quarter earnings estimates for Samvardhana Motherson International Ltd. from 10 brokerages in descending order of the estimates of net profit, in INR billion:

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Edited by Himanshi Gupta

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