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Motilal Oswal Report
Motherson Sumi Wiring India Ltd.'s overall Q3 FY24 result was in line with our estimates. Revenue growth outperformed the underlying industry growth, mainly led by content increase due to premiumisation.
Motherson Sumi Wiring's focus on localisation of components and the ramp-up of new plants should drive future growth.
We slightly tweak our estimates to factor in better revenue growth due to the ramp-up of new facilities and better mix.
Reiterate our 'Buy' rating with a target price of Rs 75 (35 times December- 25E earnings per share).
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