MSWIL (wiring harness maker) reported around 47% growth in quarterly revenue, outpacing passenger vehicle market growth of 25%, driven by rising content per vehicle, though copper costs and new minimum wage rules…
MSWIL (wiring harness maker) reported around 47% growth in quarterly revenue, outpacing passenger vehicle market growth of 25%, driven by rising content per vehicle, though copper costs and new minimum wage rules pressured margins.
By ScoutQuest · · 1 min read
- Revenue growth
- 47 percent
- Passenger vehicle market growth
- 25 percent
- Copper cost increase impact
- 12 percent
- Adjusted growth excluding copper
- 35 percent
- Historical year-on-year growth
- 40 percent
Heard on business television between 09:33:11 - 09:36:11 IST.
- Company grew around 47%, surpassing passenger vehicle market growth of 25%
- Copper price increase added approximately 12% to costs, with real growth at 35% after adjusting for copper
- Company said growth is driven by rising wiring content per vehicle and new model additions with OEM customers
- Management said copper cost pass-through happens with a lag of one quarter to four-six months for some customers; discussions ongoing to shorten this lag
- New minimum wage rules in Haryana and Uttar Pradesh (over 40% of production) have hurt margins, not fully compensated by customers yet
- Greenfield capacities and cost-limiting initiatives have started contributing meaningfully to bottom line
- Company said it is engaged as design partner with OEMs for vehicles launching in 2028-29 and beyond, citing rising premiumization and feature-rich content
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