Motherson Sumi Systems share price slumps 5% on weak Q2 numbers

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26 Aug, 2025 12:21

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Motherson Sumi Systems share price declined 5 percent intraday on November 15 to Rs 232.05 after the company announced its September quarter earnings last week.

Motherson Sumi Systems reported a fall in its September quarter net profit to Rs 226.55 crore as against Rs 474.02 crore in the same quarter last fiscal. Its total revenue from operations was at Rs 14,076.39 crore versus Rs 14,957.21 crore, YoY.

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Here is what brokerages have to say about the stock and the company after its September quarter earnings:

Jefferies

The broking house kept ‘underperform’ rating with a target at Rs 190 per share as the Q2 EBITDA was 20 percent below estimate, led by weaker-than-expected SMR/PKC performance.

The margin falls 90-370 bps QoQ at India/SMP/ SMR while PKC margin remained subdued.

The easing of chip shortages should drive better financials ahead, while valuations were rich at current levels, it said.

Nomura

The broking firm has maintained a ‘buy’ call with a target at Rs 279.

The global production recovery in FY23 will be sharper. Also, rising EV order book share and premium UV mix in India will drive the growth, it said.

Motilal Oswal

“Our positive view on the stock remains intact (cyclical recovery plus turnaround in greenfield plant plus execution of strong order book of SMRPBV),” it said.

The stock trades at 48.1x/22.3x FY22/FY23E consolidated EPS. Maintain ‘buy’ with a target price of Rs 295 (September 2023 SOTP).

Cholamandalam Securities

“We anticipate 3QFY22 to remain in the shadow of industry headwinds but the recouping PV demand globally and improving India operations bode well for the company,” the broking house said.

Over the longer horizon, the growth triggers seem to remain intact as robust order book, diverse business operations and EV evolution offer revenue visibility.

“We retain our ‘market performer’ rating on the stock with a revised target price of Rs 255 (earlier Rs 235), valuing the company at 25x FY23E EPS.

At 12:22pm, Motherson Sumi Systems was quoting at Rs 235.75, down Rs 9.95, or 4.05 percent, on the BSE.