Menon Bearings Ltd

About [ edit ]

Menon Bearings is engaged in the business of Bearings, Bushes and Thrust Washers and Aluminium Die Casting Components.

  • Market Cap 309 Cr.
  • Current Price 55.1
  • High / Low 64.7 / 27.0
  • Stock P/E 19.7
  • Book Value 16.9
  • Dividend Yield 2.72 %
  • ROCE 18.4 %
  • ROE 16.1 %
  • Face Value 1.00

Pros

  • Company has reduced debt.
  • Company has a good return on equity (ROE) track record: 3 Years ROE 24.92%
  • Company has been maintaining a healthy dividend payout of 56.76%

Cons

  • The company has delivered a poor sales growth of 6.15% over past five years.

Peer comparison

Sector: Auto Ancillaries Industry: Bearings

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020
38.70 45.78 46.50 40.75 39.87 40.62 33.58 31.64 30.30 21.29 36.67 43.39
29.33 34.70 34.90 31.42 29.93 32.01 27.65 25.26 24.43 16.37 28.36 33.82
Operating Profit 9.37 11.08 11.60 9.33 9.94 8.61 5.93 6.38 5.87 4.92 8.31 9.57
OPM % 24.21% 24.20% 24.95% 22.90% 24.93% 21.20% 17.66% 20.16% 19.37% 23.11% 22.66% 22.06%
Other Income 0.77 0.90 0.71 0.92 -0.01 0.65 1.16 0.73 1.72 0.60 0.63 0.78
Interest 0.74 0.80 0.93 1.11 0.70 1.04 1.29 1.16 1.07 0.95 0.93 0.88
Depreciation 0.96 1.02 1.04 1.09 1.67 1.54 1.69 1.73 1.91 1.81 1.84 1.85
Profit before tax 8.44 10.16 10.34 8.05 7.56 6.68 4.11 4.22 4.61 2.76 6.17 7.62
Tax % 39.45% 29.13% 29.11% 29.07% 33.07% 29.19% 28.47% 25.12% 28.42% 23.19% 26.42% 25.20%
Net Profit 5.11 7.20 7.33 5.71 5.07 4.73 2.94 3.16 3.30 2.12 4.53 5.70
EPS in Rs 0.91 1.28 1.31 1.02 0.90 0.84 0.52 0.56 0.59 0.38 0.81 1.02

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

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
44 56 80 88 83 87 103 111 124 146 174 139 132
35 45 64 71 70 71 81 82 90 108 131 109 103
Operating Profit 9 11 15 17 13 15 23 29 33 37 43 30 29
OPM % 19% 20% 19% 19% 15% 18% 22% 26% 27% 26% 25% 21% 22%
Other Income 1 0 0 0 1 1 1 0 1 1 1 1 4
Interest 2 2 2 2 2 2 2 2 1 2 4 5 4
Depreciation 2 3 4 4 5 5 4 5 5 4 5 7 7
Profit before tax 5 7 10 11 7 9 17 23 28 32 36 20 21
Tax % 36% 30% 36% 31% 45% 31% 31% 36% 31% 35% 30% 27%
Net Profit 3 5 6 7 4 6 12 15 19 21 25 14 16
EPS in Rs 0.55 0.82 1.14 1.32 0.66 1.10 2.06 2.66 3.41 3.76 4.51 2.57 2.80
Dividend Payout % 38% 25% 33% 35% 50% 45% 32% 31% 29% 40% 33% 97%
Compounded Sales Growth
10 Years:9%
5 Years:6%
3 Years:4%
TTM:-10%
Compounded Profit Growth
10 Years:12%
5 Years:4%
3 Years:-9%
TTM:-2%
Stock Price CAGR
10 Years:21%
5 Years:1%
3 Years:-19%
1 Year:76%
Return on Equity
10 Years:25%
5 Years:27%
3 Years:25%
Last Year:16%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Sep 2020
5 5 5 5 5 5 5 5 6 6 6 6 6
Reserves 15 18 22 27 28 31 38 47 59 71 85 83 89
Borrowings 27 25 23 22 25 20 17 12 21 25 46 38 32
22 13 17 17 15 18 19 16 17 23 22 23 27
Total Liabilities 68 61 67 70 73 74 78 80 103 126 158 149 153
26 31 31 31 36 38 36 35 37 48 56 72 82
CWIP 3 2 2 6 2 1 0 1 4 5 19 10 1
Investments 0 0 0 1 0 0 0 -0 -0 -0 3 0 1
39 28 34 33 34 36 42 44 62 73 80 67 70
Total Assets 68 61 67 70 73 74 78 80 103 126 158 149 153

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

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 11 10 10 3 10 8 5 20 23 26 30
-16 -6 -4 -9 -6 -4 -2 -4 -10 -15 -30 -10
1 -2 -4 -2 4 -6 -3 -4 1 -7 5 -29
Net Cash Flow -4 3 1 -0 0 1 2 -4 12 2 1 -8

Ratios

Standalone Figures in Rs. Crores / View Consolidated

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 % 17% 19% 25% 25% 16% 20% 33% 40% 38% 36% 33% 18%
Debtor Days 125 84 77 65 78 75 73 82 86 89 83 93
Inventory Turnover 3.02 3.45 4.70 5.11 4.80 4.74 5.02 4.43 3.62 4.04 4.12 2.85

Shareholding Pattern

Numbers in percentages

Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021
70.72 70.90 70.90 70.91 70.91 70.91 71.02 71.08 71.15 71.15 71.15 71.25
0.07 0.13 0.26 0.40 0.85 1.20 1.49 2.07 2.07 2.07 2.07 2.42
1.21 1.20 1.19 1.20 1.21 1.18 1.17 1.08 0.01 0.01 0.01 0.00
27.99 27.76 27.65 27.49 27.03 26.71 26.31 25.77 26.77 26.77 26.77 26.33

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