Motherson Sumi Wiring slips 6% on margin disappointment in Q2

Shares of Motherson Sumi Wiring India (MSWIL) slipped 6 per cent to Rs 82.25 on the BSE in Tuesday’s intra-day trade, in an otherwise strong market, on profit booking after margin disappointment in September quarter (Q2FY23).

The company's reported earnings before interest, taxes, depreciation, and amortization (Ebitda) for the quarter stood at Rs 190 crore, up 2 per cent year-on-year (YoY). However, reported Ebitda margin was 10.4 per cent, down 290 bps YoY.

MSWIL said margin wasimpacted due to initial one-time startup costs of new programs at Bengaluru, and a new facility at Chennai. "To meet the increased