With a market share of more than 40%, Motherson Sumi Wiring India, a joint venture between Motherson Group and Sumitomo Wiring System, dominates the Indian wire harness market.
Financial Results:
Motherson Sumi Wiring India Ltd‘s revenue in Q3FY23 rose 16% to ₹ 1,687 crores. Consolidated Profit After Tax came at ₹ 106 crores showcasing a 20% fall on an YoY basis. In this quarter’s results, the reports suggested that the fall in profits are due to a 22% YoY rise in expenses.