NSE: MENONBE · BSE: 523828
MENON BEARINGS LIMITED
Manufactures and sells auto components across three divisions: plain bearings, bi-metal engine bearings and brake systems. The parent bearings division serves automotive and engineering OEMs; the Alkop bi-metal division makes engine bearing products (PTFE bushes for newer-age and EV engines); the brakes segment supplies braking components for railways and OEMs, with a dynamometer commissioning slated for August 2026. Named customers include John Deere, Eaton, Taco Prestolite and Mayekawa. FY26 consolidated revenue was INR 293.81 crore, with Q1 FY27 standalone sales of INR 67.06 crore (+40.41% YoY) and consolidated sales of INR 91.79 crore. Materials are the largest cost at 42.3% of revenue, followed by employee costs at 15.7% and other opex at 23%. Exports are an increasing focus, targeted at 37% of revenue next year, with active expansion into the USA, Europe and Africa. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Bearings division, Bi-metal division (Menon Alkop), Brakes division (Menon Brakes). Diversified auto-component manufacturer with three operating divisions (bearings, bi-metal, brakes) and growing export mix
Exhibit 1: Financial summary, FY23–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Revenue | 217 | 211 | 239 | 294 |
| EBITDA (ex other income) | 50 | 41 | 42 | 59 |
| margin % | 23.2 | 19.7 | 17.5 | 20.0 |
| Owners' profit | 33 | 0 | 0 | 0 |
| EPS, as reported (₹) | 5.84 | 4.35 | 4.45 | 6.83 |
| ROE % · ROCE % | 24.5 · 31.8 | 16.8 · 21.5 | 15.7 · 20.3 | 20.6 · 26.1 |
| Debt / equity (x) | 0.11 | 0.23 | 0.26 | 0.25 |
| Cash from operations | 50 | 29 | 27 | 23 |
| Capex | (6) | (13) | (31) | (27) |
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 59 | 58 | 64 | 67 | 63 | 77 | 87 | 92 |
| Profit before tax | 9 | 7 | 9 | 11 | 9 | 12 | 18 | 19 |
| Net profit | 7 | 5 | 7 | 8 | 7 | 9 | 14 | 14 |
| EPS (₹) | 1.20 | 0.98 | 1.18 | 1.50 | 1.21 | 1.65 | 2.46 | 2.52 |
Exhibit 3: Peers — basic industry group, by market cap
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| SAMVRDHNA MTHRSN INTL LTD | 1,69,176 | 38.6 | 3.87 | 15.1 | 9.4 | 8.2 | 17.1 | 9.0 |
| BOSCH LIMITED | 1,39,756 | 59.1 | 9.41 | 34.3 | 18.7 | 24.1 | 15.6 | 17.9 |
| BHARAT FORGE LTD | 83,937 | 118.9 | 8.78 | 30.3 | 11.4 | 13.2 | 21.6 | 8.8 |
| UNO MINDA LIMITED | 63,520 | 52.8 | 8.75 | 29.1 | 17.7 | 15.7 | 25.3 | 10.4 |
| SCHAEFFLER INDIA LIMITED | 56,735 | 45.3 | 9.23 | — | 10.4 | 14.1 | — | 19.4 |
| SONA BLW PRECISION FRGS L | 54,705 | 78.5 | 8.92 | 47.5 | 10.3 | 12.9 | — | 25.1 |
| TUBE INVEST OF INDIA LTD | 41,237 | 67.9 | 2.90 | 15.9 | 7.9 | 12.4 | 30.3 | 10.6 |
| ENDURANCE TECHNO. LTD. | 32,484 | 33.5 | 4.75 | 15.9 | 13.9 | 15.6 | 17.4 | 13.2 |
Exhibit 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 34.2 | 25.3 | 77 of 119 | 36% |
| P/B | 8.1 | 3.2 | 101 of 117 | 14% |
| ROCE | 23.7 | 12.6 | 17 of 125 | 87% |
| ROE | 20.6 | 11.7 | 17 of 117 | 86% |
| Debt / Equity | 0.3 | 0.3 | 54 of 117 | 54% |
| EBITDA margin | 24.7 | 12.2 | 11 of 118 | 92% |
| Revenue growth | 36.6 | 20.2 | 15 of 113 | 88% |
| Profit growth | 67.3 | 24.4 | 32 of 115 | 73% |
| Market cap | 1504 | 1460 | 63 of 126 | 50% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 22 Oct 2026 · Menon Bearings schedules Q2 and H1 FY27 earnings call | board shareholder meetings | low | — | — |
| 16 Oct 2026 · Board Meeting on 29 Oct to consider Q2 and H1 FY27 results | results | low | — | — |
| 11 Oct 2026 · Quarterly compliance certificate for securities dematerialization submitted | compliance | minimal | — | — |
| 26 Sept 2026 · Trading window closed from Oct 1 ahead of Q2 and H1 FY26-27 results | compliance | minimal | — | — |
| 17 Sept 2026 · Analyst/Investor Plant Visit and Management Meet on Sep 26 | business updates | low | — | — |
| 1 Sept 2026 · Menon Bearings to host investor plant visit on 2nd September | board shareholder meetings | low | — | — |
| 28 Aug 2026 · Menon Bearings to host plant visit for investors on 2 Sep 2026 | board shareholder meetings | low | — | — |
| 18 Aug 2026 · Promoter group sells 1.77 percent stake in Menon Bearings via open market | ownership changes | medium | — | — |
| 7 Aug 2026 · Menon Bearings 35th AGM: All 5 resolutions passed, 200 percent interim dividend noted | board shareholder meetings | medium | — | — |
| 7 Aug 2026 · Menon Bearings AGM results: All 5 resolutions passed with 99.99% majority | board shareholder meetings | low | — | — |
How to read this document
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions | an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
Sources, method and disclosures
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.