Menon Pistons Ltd

menonpistons.com BSE: 531727
About

Menon Pistons is engaged in manufacturing of auto components, such as pistons, gudgeon pins and rings required for commercial and passenger vehicles.

Website BSE
  • Market Cap ₹ 65.8 Cr.
  • Current Price ₹ 12.9
  • High / Low ₹ 18.8 / 7.76
  • Stock P/E 18.5
  • Book Value ₹ 14.6
  • Dividend Yield 3.49 %
  • ROCE 7.34 %
  • ROE 5.77 %
  • Face Value ₹ 1.00
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Pros

  • Company is virtually debt free.
  • Stock is trading at 0.88 times its book value
  • Company has been maintaining a healthy dividend payout of 44.58%

Cons

  • The company has delivered a poor growth of -3.99% over past five years.
  • Company has a low return on equity of 9.70% for last 3 years.

Peer comparison

Sector: Auto Ancillaries Industry: Auto Ancillaries

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Quarterly Results

Figures in Rs. Crores

Sep 2017 Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020
38.89 36.95 39.82 37.01 38.92 40.29 40.03 35.28 30.52 29.00 22.95 20.00
34.59 32.43 36.19 32.29 33.86 35.58 35.90 31.56 27.15 26.37 21.93 17.46
Operating Profit 4.30 4.52 3.63 4.72 5.06 4.71 4.13 3.72 3.37 2.63 1.02 2.54
OPM % 11.06% 12.23% 9.12% 12.75% 13.00% 11.69% 10.32% 10.54% 11.04% 9.07% 4.44% 12.70%
Other Income 0.23 0.34 0.36 0.18 0.21 0.24 0.05 0.09 0.05 0.12 0.17 0.04
Interest 0.18 0.33 0.19 0.21 0.11 0.02 0.08 0.03 0.12 0.07 0.05 0.02
Depreciation 1.09 1.16 1.07 1.14 1.21 1.24 1.24 1.27 1.28 1.34 1.44 1.30
Profit before tax 3.26 3.37 2.73 3.55 3.95 3.69 2.86 2.51 2.02 1.34 -0.30 1.26
Tax % 34.66% 34.72% 61.17% 29.30% 29.11% 29.00% 24.83% 29.08% 18.32% 24.63% 86.67% 25.40%
Net Profit 2.13 2.20 1.06 2.52 2.80 2.61 2.15 1.78 1.64 1.02 -0.05 0.95
EPS in Rs 0.42 0.43 0.21 0.49 0.55 0.51 0.42 0.35 0.32 0.20 -0.01 0.19
Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes

Profit & Loss

Figures in Rs. Crores

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 TTM
107 113 149 165 153 142 144 130 133 146 156 118 102
94 100 132 145 139 133 130 119 118 130 137 107 93
Operating Profit 13 13 17 20 14 9 15 11 15 16 19 11 10
OPM % 12% 12% 11% 12% 9% 6% 10% 9% 11% 11% 12% 9% 9%
Other Income 1 1 1 2 2 2 1 2 2 2 1 0 0
Interest 3 2 3 3 4 4 3 2 2 1 0 0 0
Depreciation 2 2 3 4 5 4 5 4 4 4 5 5 5
Profit before tax 9 10 13 15 7 3 8 7 11 12 14 6 4
Tax % 35% 33% 33% 34% 31% 42% 30% 36% 32% 41% 28% 21%
Net Profit 6 6 9 10 5 2 6 4 7 7 10 4 4
EPS in Rs 1.12 1.27 1.72 1.96 0.90 0.36 1.12 0.84 1.45 1.38 1.98 0.86 0.70
Dividend Payout % 27% 27% 20% 18% 22% 42% 36% 48% 34% 44% 38% 52%
Compounded Sales Growth
10 Years:0%
5 Years:-4%
3 Years:-4%
TTM:-34%
Compounded Profit Growth
10 Years:-4%
5 Years:-5%
3 Years:-16%
TTM:-62%
Stock Price CAGR
10 Years:0%
5 Years:-2%
3 Years:-18%
1 Year:-10%
Return on Equity
10 Years:11%
5 Years:10%
3 Years:10%
Last Year:6%

Balance Sheet

Figures in Rs. Crores

Corporate actions
Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
5 5 5 5 5 5 5 5 5 5 5 5
Reserves 29 32 39 47 50 51 54 56 63 66 73 69
Borrowings 17 13 23 28 39 29 25 17 14 8 2 4
20 25 36 39 30 30 29 23 21 20 22 14
Total Liabilities 71 75 104 119 124 116 113 101 103 100 102 93
19 19 27 37 38 40 35 32 29 27 31 32
CWIP 0 0 2 0 4 0 0 0 0 0 0 0
Investments 0 0 0 0 0 0 0 0 0 0 0 0
52 56 74 81 82 75 77 69 73 73 70 61
Total Assets 71 75 104 119 124 116 113 101 103 100 102 93

Cash Flows

Figures in Rs. Crores

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
10 16 13 16 -0 6 3 11 5 1 11 15
-3 -2 -12 -11 -8 -1 1 1 -5 4 -8 -7
-7 -8 6 -1 3 -15 -6 -13 -1 -4 -4 -8
Net Cash Flow 0 6 7 4 -5 -10 -2 -1 -1 1 -1 1

Ratios

Figures in Rs. Crores

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
ROCE % 23% 24% 27% 25% 13% 8% 13% 11% 16% 16% 18% 7%
Debtor Days 101 90 70 53 57 71 78 78 87 103 102 88
Inventory Turnover 4.50 4.73 4.61 3.82 3.76 3.52 3.75 3.82 4.04 4.61 4.91 3.11

Shareholding Pattern

Numbers in percentages

Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020
74.37 74.37 74.37 74.37 74.37 74.37 74.37 74.37 74.37 74.37 74.37 74.37
0.01 0.01 0.01 0.00 0.01 0.01 0.00 0.00 0.02 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.39 0.39 0.42 0.00 0.00 0.00
25.62 25.62 25.62 25.63 25.62 25.62 25.24 25.24 25.19 25.63 25.63 25.63

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