Munjal Auto Industries Ltd

Munjal Auto Industries Ltd

₹ 81.6 0.74%
19 Apr - 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 816 Cr.
  • Current Price 81.6
  • High / Low 115 / 40.0
  • Stock P/E 24.0
  • Book Value 38.8
  • Dividend Yield 2.45 %
  • ROCE 8.71 %
  • ROE 5.96 %
  • Face Value 2.00

Pros

  • Company has been maintaining a healthy dividend payout of 24.3%

Cons

  • Company has a low return on equity of 6.99% over last 3 years.

* 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

Consolidated Figures in Rs. Crores / View Standalone

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
645 618 436 644 468 374 481 544 477 483 509 545 422
620 578 418 622 445 355 456 518 459 461 484 509 396
Operating Profit 24 40 18 21 23 20 25 26 17 21 25 36 26
OPM % 4% 6% 4% 3% 5% 5% 5% 5% 4% 4% 5% 7% 6%
1 0 1 1 2 1 51 3 3 3 10 7 -28
Interest 4 4 3 3 3 3 5 7 7 7 7 7 7
Depreciation 10 10 9 10 9 7 12 13 14 14 14 14 14
Profit before tax 11 27 7 10 13 11 58 9 -0 4 14 22 -23
Tax % 49% 28% 14% 40% 43% 5% 22% 14% -748% 36% 28% 33% 0%
6 20 6 6 7 10 45 8 -4 2 10 15 -23
EPS in Rs 0.72 1.73 0.45 0.51 0.74 0.98 4.55 0.77 -0.07 0.36 0.99 1.38 -1.22
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
1,214 1,236 2,123 1,916 1,984 1,958
1,143 1,190 2,040 1,833 1,894 1,850
Operating Profit 71 45 83 83 90 108
OPM % 6% 4% 4% 4% 5% 6%
3 5 5 5 60 -7
Interest 4 12 16 12 27 29
Depreciation 20 32 39 36 53 55
Profit before tax 49 7 33 41 70 17
Tax % 23% 44% 38% 27% 27%
37 4 20 30 52 4
EPS in Rs 3.60 0.41 2.06 2.68 5.61 1.51
Dividend Payout % 28% 0% 0% 37% 36%
Compounded Sales Growth
10 Years: %
5 Years: %
3 Years: 17%
TTM: 4%
Compounded Profit Growth
10 Years: %
5 Years: %
3 Years: 76%
TTM: 28%
Stock Price CAGR
10 Years: 12%
5 Years: 9%
3 Years: 18%
1 Year: 100%
Return on Equity
10 Years: %
5 Years: %
3 Years: 7%
Last Year: 6%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Sep 2023
Equity Capital 20 20 20 20 20 20
Reserves 277 269 291 317 364 368
47 123 147 116 282 278
220 383 405 508 602 565
Total Liabilities 564 796 862 961 1,268 1,231
200 343 303 263 416 415
CWIP 25 2 1 4 8 4
Investments 7 21 26 118 104 146
332 430 531 576 740 666
Total Assets 564 796 862 961 1,268 1,231

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
26 87 59 137 33
-15 -139 -14 -99 37
-5 47 -45 -50 -65
Net Cash Flow 6 -5 -0 -13 6

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Debtor Days 49 79 66 74 80
Inventory Days 30 36 17 26 50
Days Payable 60 110 53 58 76
Cash Conversion Cycle 18 6 30 41 55
Working Capital Days 10 9 19 14 26
ROCE % 5% 11% 11% 9%

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.

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