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Motherson's local wiring biz better placed than its global sales entity

Demand, rising content per vehicle, return ratios key investment arguments for Motherson Sumi Wiring

Wiring
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A key positive for SAMIL despite the near-term concerns is its product profile (mirrors, plastic body parts and wiring harness) which is immune to the EV transition

Ram Prasad Sahu Mumbai
The two listed entities of automotive (auto) parts maker Motherson Sumi (Motherson) after restructuring earlier this year have exhibited contrasting returns since getting listed. While Samvardhana Motherson International (SAMIL) - formerly Motherson Sumi Systems - with global operations under its fold has slid 25 per cent over the past six months, Motherson Sumi Wiring India (MSWIL), predominantly earning revenue from the domestic market, has outperformed significantly, with gains of 29 per cent during this period.

While MSWIL is a wiring harness solution provider catering to domestic automakers, SAMIL has multiple product lines, including vision systems (mirrors), plastic body parts, and