Munjal Showa Ltd
Munjal Showa Ltd operates as an ancillary and manufactures auto components for two-wheeler and four-wheeler automotive players in the domestic market.
It was established in 1985 as a result of technical and financial collaboration between Hero Group and Showa Corporation, Japan.[1]
- Market Cap ₹ 593 Cr.
- Current Price ₹ 148
- High / Low ₹ 159 / 82.8
- Stock P/E 16.1
- Book Value ₹ 163
- Dividend Yield 3.04 %
- ROCE 4.63 %
- ROE 3.45 %
- Face Value ₹ 2.00
Pros
- Company is almost debt free.
- Stock is trading at 0.91 times its book value
- Stock is providing a good dividend yield of 3.04%.
- Company has been maintaining a healthy dividend payout of 91.1%
Cons
- The company has delivered a poor sales growth of -4.74% over past five years.
- Company has a low return on equity of 2.70% over last 3 years.
- Earnings include an other income of Rs.35.0 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
Quarterly Results
Figures in Rs. Crores
Profit & Loss
Figures in Rs. Crores
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 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
1,553 | 1,578 | 1,595 | 1,643 | 1,502 | 1,460 | 1,581 | 1,669 | 1,288 | 1,085 | 1,060 | 1,241 | 1,211 | |
1,431 | 1,471 | 1,489 | 1,516 | 1,389 | 1,360 | 1,468 | 1,581 | 1,233 | 1,061 | 1,052 | 1,210 | 1,177 | |
Operating Profit | 122 | 107 | 106 | 127 | 113 | 100 | 113 | 88 | 55 | 24 | 8 | 30 | 34 |
OPM % | 8% | 7% | 7% | 8% | 8% | 7% | 7% | 5% | 4% | 2% | 1% | 2% | 3% |
3 | -4 | 6 | 9 | 5 | 17 | 21 | 23 | 25 | 24 | 18 | 24 | 35 | |
Interest | 11 | 7 | 3 | 1 | 0 | 0 | 0 | 0 | 1 | 0 | 0 | 0 | 0 |
Depreciation | 27 | 28 | 28 | 29 | 29 | 29 | 28 | 26 | 20 | 16 | 12 | 12 | 12 |
Profit before tax | 86 | 68 | 80 | 106 | 88 | 88 | 105 | 86 | 58 | 31 | 14 | 42 | 57 |
Tax % | 22% | 11% | 13% | 29% | 30% | 31% | 26% | 27% | 27% | 17% | 12% | 24% | |
67 | 61 | 70 | 76 | 61 | 61 | 78 | 63 | 43 | 26 | 12 | 32 | 44 | |
EPS in Rs | 16.78 | 15.17 | 17.43 | 18.91 | 15.29 | 15.18 | 19.38 | 15.65 | 10.64 | 6.54 | 3.04 | 7.98 | 11.10 |
Dividend Payout % | 18% | 20% | 20% | 21% | 26% | 26% | 23% | 29% | 42% | 69% | 148% | 56% |
Compounded Sales Growth | |
---|---|
10 Years: | -2% |
5 Years: | -5% |
3 Years: | -1% |
TTM: | 3% |
Compounded Profit Growth | |
---|---|
10 Years: | -10% |
5 Years: | -21% |
3 Years: | -6% |
TTM: | 89% |
Stock Price CAGR | |
---|---|
10 Years: | 9% |
5 Years: | -4% |
3 Years: | 5% |
1 Year: | 48% |
Return on Equity | |
---|---|
10 Years: | 9% |
5 Years: | 4% |
3 Years: | 3% |
Last Year: | 3% |
Balance Sheet
Figures in Rs. Crores
Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
8 | 8 | 8 | 8 | 8 | 8 | 8 | 8 | 8 | 8 | 8 | 8 | |
Reserves | 248 | 295 | 348 | 403 | 445 | 505 | 562 | 603 | 625 | 633 | 629 | 643 |
73 | 21 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
213 | 208 | 218 | 202 | 157 | 163 | 224 | 181 | 129 | 160 | 148 | 159 | |
Total Liabilities | 542 | 532 | 574 | 613 | 610 | 676 | 793 | 791 | 761 | 801 | 786 | 811 |
245 | 246 | 233 | 211 | 197 | 178 | 157 | 143 | 145 | 134 | 125 | 129 | |
CWIP | 11 | 7 | 1 | 2 | 3 | 3 | 1 | 3 | 2 | 1 | 6 | 2 |
Investments | 3 | 20 | 30 | 68 | 82 | 171 | 244 | 243 | 319 | 292 | 307 | 313 |
283 | 259 | 311 | 332 | 328 | 324 | 391 | 402 | 295 | 374 | 349 | 367 | |
Total Assets | 542 | 532 | 574 | 613 | 610 | 676 | 793 | 791 | 761 | 801 | 786 | 811 |
Cash Flows
Figures in Rs. Crores
Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
61 | 116 | 55 | 55 | 65 | 83 | 96 | 41 | 66 | -18 | 30 | 6 | |
-25 | -31 | -18 | -48 | -26 | -79 | -63 | 3 | -82 | 43 | -5 | 0 | |
-35 | -72 | -40 | -22 | -38 | -0 | -19 | -22 | -22 | -18 | -18 | -18 | |
Net Cash Flow | 2 | 13 | -2 | -14 | 1 | 4 | 14 | 23 | -39 | 7 | 7 | -11 |
Ratios
Figures in Rs. Crores
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 | 41 | 33 | 40 | 45 | 48 | 49 | 57 | 44 | 40 | 66 | 59 | 57 |
Inventory Days | 15 | 12 | 15 | 20 | 21 | 21 | 20 | 23 | 28 | 39 | 32 | 28 |
Days Payable | 53 | 47 | 51 | 47 | 44 | 46 | 58 | 42 | 39 | 57 | 51 | 49 |
Cash Conversion Cycle | 4 | -2 | 5 | 18 | 25 | 24 | 18 | 25 | 29 | 49 | 40 | 36 |
Working Capital Days | 5 | -2 | 11 | 22 | 31 | 28 | 23 | 25 | 30 | 49 | 41 | 43 |
ROCE % | 31% | 25% | 24% | 27% | 20% | 17% | 18% | 12% | 6% | 4% | 1% | 5% |
Documents
Announcements
- Closure of Trading Window 25 Sep
- Shareholder Meeting / Postal Ballot-Scrutinizer''s Report 23 Aug
- Shareholder Meeting / Postal Ballot-Outcome of AGM 22 Aug
- Continual Disclosure Under Regulation 30(4)(I) Of SEBI (LODR) Regulations, 2015 ("Listing Regulations") 14 Aug
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Announcement under Regulation 30 (LODR)-Newspaper Publication
11 Aug - Copy of Newspaper advertisement published in newspaper viz. Mint in English language and Hindustan in Hindi language on August 11, 2023, for Unaudited Financial Results …
Annual reports
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Financial Year 2023
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Financial Year 2022
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Financial Year 2021
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Financial Year 2020
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Financial Year 2019
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Financial Year 2018
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Financial Year 2017
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Financial Year 2016
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Financial Year 2015
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Financial Year 2014
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Financial Year 2013
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Financial Year 2013
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Financial Year 2012
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Financial Year 2012
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Financial Year 2011
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Product Portfolio
The company's product portfolio includes Front Forks, Rear Cushions, Struts, and Gas Spring/Rear Door Lifters, etc. [1]
For 2 Wheelers:
Rear Shock Absorber (Rear Cushion): For bike models- Splendor, Hunk, Ignitor, Pleasure, Maestro, Unicorn, and Super Splendor.
Front Shock Absorber (Front Fork): For bike models- Spendor, Super Splendor, Hunk, SZ-Yamaha, HF-Super Deluxe, Unicorn, Xtreme Sports, and Passion. [2]
For 4 Wheelers:
Strut (Front Strut): For car models- Honda City, Eeco, and Celerio
Strut (Back Strut): For car model- Swift
Gas Spring (Open Stay/ Window Balancer): For car models: Omni Van, 800 CC, and WagonR [3]