NSE: MUNJALAU · BSE: 520059
MUNJAL AUTO IND. LTD.
Manufactures and supplies auto components to two-wheeler original equipment manufacturers, including Honda Motorcycle and Scooter India, which awarded new business for sheet metal stamping and welding parts in May 2026. The business operates through two segments: Auto Components (62.7% of FY26 segment revenue), which produces sheet metal stamping and welded parts, and Composite Products and Moulds (37.3%), made largely through subsidiary Indutch Composites. Consolidated revenue in FY26 was ₹2,295.15 crore, with raw materials and components accounting for 73.8% of revenue. The smaller Composite Products and Moulds segment delivered higher EBIT (₹62.92 crore) than the larger Auto Components segment (₹29.80 crore) in FY26. The board recommended a final dividend of ₹1 per share for FY26. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Auto Components (63%), Composite Products and Moulds (37%). Auto component manufacturer supplying metal stamped parts and composite products
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 1,916 | 1,984 | 1,882 | 2,066 | 2,295 |
| EBITDA (ex other income) | 83 | 138 | 108 | 105 | 135 |
| margin % | 4.3 | 6.9 | 5.8 | 5.1 | 5.9 |
| Owners' profit | 27 | 56 | 38 | 39 | 46 |
| EPS, as reported (₹) | 2.96 | 5.16 | 3.85 | 3.64 | 4.02 |
| ROE % · ROCE % | 8.4 · 11.7 | 13.1 · 15.4 | 9.3 · 13.9 | 9.1 · 11.2 | 9.9 · 14.0 |
| Debt / equity (x) | 0.26 | 0.25 | 0.24 | 0.44 | 0.54 |
| Cash from operations | 137 | 35 | 127 | 7 | 45 |
| Capex | (17) | (29) | (41) | (66) | (73) |
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 | 522 | 522 | 512 | 491 | 584 | 606 | 614 | 699 |
| Profit before tax | 21 | 3 | 13 | 28 | 13 | 20 | 2 | 35 |
| Net profit | 20 | (2) | 10 | 19 | 13 | 15 | (2) | 29 |
| EPS (₹) | 1.86 | (0.22) | 0.83 | 1.58 | 1.12 | 1.35 | (0.06) | 2.58 |
Exhibit 3: Segment revenue, FY26
| Segment | Revenue, ₹ crore | Share % |
|---|---|---|
| Auto Components | 767 | 33.4 |
| Composite Products and Moulds | 453 | 19.7 |
| (i) Auto Components | 671 | 29.2 |
| (ii) Composite Products and Moulds | 404 | 17.6 |
| Total, before eliminations | 2,295 | 100.0 |
Exhibit 4: 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 5: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 19.2 | 25.3 | 40 of 119 | 67% |
| P/B | 2.1 | 3.2 | 38 of 117 | 68% |
| ROCE | 8.7 | 12.6 | 84 of 125 | 33% |
| ROE | 9.9 | 11.7 | 71 of 117 | 40% |
| Debt / Equity | 0.5 | 0.3 | 83 of 117 | 29% |
| EBITDA margin | 9.2 | 12.2 | 86 of 118 | 27% |
| Revenue growth | 42.4 | 20.2 | 10 of 113 | 92% |
| Profit growth | 47.6 | 24.4 | 37 of 115 | 68% |
| Market cap | 960 | 1460 | 71 of 126 | 44% |
Exhibit 6: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 9 Oct 2026 · Compliance filing: SEBI Reg 74(5) certificate for Q2 FY27 | compliance | minimal | — | — |
| 1 Oct 2026 · Clarifies on price movement; flags land purchase already disclosed | strategic transactions | high | — | — |
| 30 Sept 2026 · NSE asks Munjal Auto for clarification on sudden volume spike | regulatory legal | medium | — | — |
| 28 Sept 2026 · Trading window closed ahead of Q2 FY27 results | compliance | minimal | — | — |
| 12 Sept 2026 · Munjal Auto buys Ahmedabad land for business expansion | strategic transactions | medium | — | — |
| 11 Sept 2026 · Final reminder to shareholders for unclaimed FY2018-19 dividend and IEPF share transfer | compliance | minimal | — | — |
| 1 Sept 2026 · 41st AGM: All 3 resolutions passed; 50 percent final dividend approved | board shareholder meetings | low | — | — |
| 31 Aug 2026 · 41st AGM concludes, final dividend of Rs 1 per share declared | board shareholder meetings | low | — | — |
| 14 Aug 2026 · Specimen letter to shareholders without email IDs for accessing 41st Annual Report | compliance | minimal | — | — |
| 13 Aug 2026 · Munjal Auto Q1 FY27 results published in newspapers | compliance | minimal | — | — |
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.