Munjal Auto Industries Ltd

Munjal Auto Industries Ltd

₹ 79.5 -1.61%
28 Mar - close price
About

Munjal Auto Industries Limited is a Vadodara-based leading auto component manufacturing company in India producing different types of auto components. It is a part of the Hero Group of companies, sporting flagship companies like Hero Motocorp Ltd with the Satyanand Munjal family holding almost 75% of its total share capital.[1][2][3] [4]

Key Points

Market Position
The company is among the largest manufacturers of Exhaust Systems in the world, manufacturing close to 32,000 systems per day. Besides this, it also produces more than 10,000 Spoke Rims for motorcycles and Steel Wheel Rim every day. [1]

  • Market Cap 795 Cr.
  • Current Price 79.5
  • High / Low 115 / 36.1
  • Stock P/E 20.8
  • Book Value 39.3
  • Dividend Yield 2.52 %
  • ROCE 12.0 %
  • ROE 8.73 %
  • Face Value 2.00

Pros

  • Company has reduced debt.
  • Company is almost debt free.
  • Company has been maintaining a healthy dividend payout of 26.2%

Cons

  • The company has delivered a poor sales growth of 8.89% over past five years.
  • Company has a low return on equity of 7.41% over last 3 years.
  • Earnings include an other income of Rs.31.7 Cr.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Sector: Auto Ancillaries Industry: Auto Ancillaries

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023
592 573 389 589 417 317 409 444 386 342 370 397 276
570 547 383 579 402 303 394 429 373 329 361 382 264
Operating Profit 22 25 7 10 15 15 14 16 13 13 9 15 12
OPM % 4% 4% 2% 2% 4% 5% 4% 3% 3% 4% 2% 4% 4%
2 1 2 2 3 3 51 4 4 3 11 8 10
Interest 2 2 1 1 1 1 1 1 1 1 1 1 1
Depreciation 6 5 5 5 5 5 5 5 5 5 5 5 5
Profit before tax 16 19 2 6 12 11 59 13 10 10 14 17 17
Tax % 34% 35% 25% 37% 37% 23% 22% 39% 48% 34% 35% 33% 33%
10 12 2 4 7 8 46 8 5 6 9 11 11
EPS in Rs 1.03 1.25 0.16 0.35 0.73 0.84 4.58 0.81 0.54 0.65 0.90 1.15 1.13
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
680 717 816 888 885 850 1,033 1,147 1,140 1,982 1,707 1,581 1,386
617 663 753 819 839 788 961 1,084 1,111 1,927 1,660 1,525 1,337
Operating Profit 62 54 64 69 46 62 73 63 28 55 47 56 50
OPM % 9% 8% 8% 8% 5% 7% 7% 5% 2% 3% 3% 4% 4%
4 6 4 4 3 5 4 2 9 9 9 61 32
Interest 8 7 6 9 8 6 4 4 8 9 5 4 4
Depreciation 10 11 12 15 17 17 18 19 22 22 21 20 20
Profit before tax 48 42 49 49 25 44 54 43 7 33 30 92 58
Tax % 8% 5% 4% 23% 19% 22% 24% 22% 28% 36% 31% 29%
44 39 48 38 20 35 42 33 5 21 21 66 38
EPS in Rs 4.43 3.95 4.77 3.80 2.01 3.46 4.16 3.32 0.49 2.10 2.08 6.57 3.83
Dividend Payout % 23% 25% 26% 33% 35% 29% 29% 30% 0% 0% 48% 30%
Compounded Sales Growth
10 Years: 8%
5 Years: 9%
3 Years: 12%
TTM: -11%
Compounded Profit Growth
10 Years: -2%
5 Years: -5%
3 Years: 86%
TTM: 24%
Stock Price CAGR
10 Years: 12%
5 Years: 8%
3 Years: 14%
1 Year: 121%
Return on Equity
10 Years: 11%
5 Years: 7%
3 Years: 7%
Last Year: 9%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Sep 2023
Equity Capital 10 10 10 10 10 10 20 20 20 20 20 20 20
Reserves 116 143 176 197 209 243 263 281 274 295 316 373 373
67 66 82 80 69 44 29 33 90 79 57 43 33
117 105 131 131 126 131 170 185 311 348 379 343 310
Total Liabilities 309 323 399 418 414 428 482 520 695 742 772 778 737
129 127 132 175 176 181 175 206 282 251 225 214 214
CWIP 2 6 42 22 14 2 1 4 2 1 1 8 4
Investments 49 61 45 27 22 48 63 37 49 56 148 135 176
128 130 181 195 202 197 243 272 363 434 399 421 342
Total Assets 309 323 399 418 414 428 482 520 695 742 772 778 737

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
41 44 39 35 44 64 68 35 35 35 100 -20
-29 -19 -34 -18 -2 -34 -22 -23 -67 -6 -84 59
-12 -20 -1 -25 -42 -31 -32 -14 35 -29 -29 -33
Net Cash Flow -0 6 4 -7 -0 -1 14 -1 2 -0 -13 6

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Debtor Days 50 37 46 45 53 57 56 46 82 62 70 80
Inventory Days 15 17 17 22 15 14 13 25 26 12 10 12
Days Payable 60 47 51 47 50 59 62 55 104 49 44 63
Cash Conversion Cycle 4 7 12 20 18 12 6 16 4 25 36 29
Working Capital Days -2 -4 0 10 16 11 5 7 12 12 4 18
ROCE % 32% 24% 22% 21% 11% 17% 19% 15% 4% 11% 9% 12%

Shareholding Pattern

Numbers in percentages

Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
74.81% 74.81% 74.81% 74.81% 74.81% 74.81% 74.81% 74.81% 74.81% 74.81% 74.81% 74.81%
0.00% 0.00% 0.00% 0.01% 0.07% 0.00% 0.02% 0.08% 0.00% 0.05% 0.00% 0.02%
0.07% 0.07% 0.07% 0.02% 0.03% 0.03% 0.03% 0.03% 0.03% 0.03% 0.03% 0.03%
25.12% 25.12% 25.12% 25.16% 25.10% 25.17% 25.15% 25.07% 25.17% 25.12% 25.16% 25.16%
No. of Shareholders 39,77041,89841,53640,56940,22140,40140,39639,33539,34938,91938,21140,130

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

Click on the line-items to see the names of individual entities.

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