Samvardhana Motherson International Ltd (MOTHERSON) Q2 Results FY27 Preview: Date, Time, Expectations & Key Things To Watch

Samvardhana Motherson International is a global automotive D.E.M.A.L specialist — wiring harnesses, modules and polymers, vision systems and integrated assemblies — that is also scaling into consumer electronics and aerospace. The Q2 FY27 print will speak to whether record revenue momentum can hold against record copper and polymer costs, with commodity pass-through lagging into Q4 netting agreements.

Samvardhana Motherson International Ltd Q2 Results Date and Time

The Board is scheduled to meet on November 5, 2026 to approve the unaudited standalone and consolidated financial results for Q2 and the half-year ended September 30, 2026.

The Q2 FY27 earnings call is scheduled for November 5, 2026, rescheduled from 1700 to 1730 hrs IST. Participants include Chairman Vivek Chaand Sehgal, Laksh Vaaman Sehgal, Pankaj Mital, Group CFO Gandharv Tongia and COO (Vision Systems) Rajat Jain.

What to expect from Samvardhana Motherson International Ltd's Q2 FY27 results

The quarter's central question is whether Motherson can sustain its record revenue run — Q1 FY27 delivered the highest-ever quarterly revenue of Rs. 35,244 Cr, up 17% YoY — while copper printed successive LME records through July-September, up 46-50% YoY, and plastic prices hit record highs, up nearly 40% since February.

India demand is the strongest tailwind: SIAM Q2 FY27 PV domestic sales grew 30.7% YoY to 1.36 million units and FADA reported best-ever September retail at 25,36,920 units (+31.82% YoY), while overseas the picture is mixed with Europe registrations up 5.3% in August but China PV shipments down 6.2% for a seventh straight month.

Q1 already showed the cost mechanics — cost of materials grew 19.34% YoY, outpacing revenue growth of 16.65%, with the normalized EBITDA margin at 8.81%, down 228 bps QoQ — and pass-through negotiations with netting and volume compensations are typically finalized toward Q4, so Q2 likely carries another quarter of unrecovered commodity cost.

Offsets include a rupee roughly 9% weaker YoY (95.6-96 vs 87.9 against the dollar), a translation tailwind for the predominantly overseas revenue base, plus the first full quarters of the Nexans Autoelectric and Yutaka Giken acquisitions, which together add close to USD 2 billion to annualized top-line.

Nothing in the quarter's data breaks the guided path: FY27 capex of ~Rs. 6,000 Crores +/- 10% (Q1 spend Rs. 1,614 Crores), GF3 consumer-electronics commissioning by Q3 FY27, and 13 of 16 greenfield startups in FY27 remain the stated milestones, with the USD 96 billion order book and Vision 2030 $108 billion revenue ambition reaffirmed at Q1. The call should cover the commodity pass-through bridge, India vs export mix, and the promised granular consumer electronics and aerospace order-book detail.

Key Things To Watch

FY27 capex tracking

• Q1 FY27 spend of INR 1,614 Crores vs full-year guidance of ~INR 6,000 Crores +/- 10% — watch H1 run-rate and the 50% growth / 50% maintenance split

Consumer Electronics GF3 commissioning and capacity ramp

• GF3 on track for Q3 FY27 commissioning with 40 million units annual capacity at full scale; watch confirmation of timing, ramp-up pace and new customer/product wins
• CE capacity of ~16 million units annualized at end FY26 to double by Q3 FY27; progress toward 'more than' USD 1.4 Billion FY28 revenue
• Total facility capex (GF1+GF2+GF3) of ~INR 7,500 crores, about one-third incurred, with the facility described as 'fully spoken for'

Commodity pass-through and margin trajectory

• Copper +40% YoY and polymer +55% YoY in Germany with lagged recovery — watch margin bridge commentary and whether Q4-style netting agreements are progressing
• Normalized margin path across the last four quarters: 9.0% → 9.7% → 11.1% → 8.8%; watch whether M&P restructuring gains (6.4% → 6.9% YoY in Q1FY27) continue and Integrated Assemblies holds above 12%

Leverage, Rotary Connectors and inorganic pipeline

• Net leverage at an all-time low of 0.8x vs the 40% ROCE acquisition framework — watch the funding plan for Rotary Connectors (EV INR 5,004 Mn, completion expected Q4 FY27)
• Nexans Autoelectric and Yutaka Giken together expected to contribute close to USD 2 billion to annualized top-line; watch for any new inorganic announcements against the 'robust' pipeline

Facility ramp-up, order book and risk follow-ups

• 13 facilities scheduled to come on stream in FY27; 3 operationalised in Q1 FY27, 10 more expected during the year — watch commissioning updates
• Order book of USD 96 billion with 22% EV share; aerospace order book of USD 1.6 Billion to be executed over 5-8 years — watch for the previously withheld CE/aerospace split
• Resolution status of the appealed IRS penalty (USD 225,000) and the Indonesian tax matter (IDR 14.94 Bn, pre-acquisition period); European demand and Nexperia-type supply chain issues