Munjal Showa Ltd

₹ 128 -0.75%

08 Jun - close price

munjalshowa.net BSE: 520043 NSE: MUNJALSHOW

About

Incorporated in 1985, Munjal Showa
Ltd manufactures auto components
for two-wheelers and four-wheeler^[1]

Key Points

Business Overview:^[1]^[2]
MSL is a part of the Hero Group.
It is an ISO 9002, QS 9000, and ISO
9001 certified company which operates
as an ancillary and manufactures auto components for two-wheelers and
four-wheeler industry, primary products
being front forks, shock absorbers, struts,
gas springs and window balancers. It has a collaboration with Hitachi Japan, to provide design solutions for Indian OEMs.

Website BSE NSE

Market Cap ₹ 511 Cr.
Current Price ₹ 128
High / Low ₹ 163 / 109
Stock P/E 21.8
Book Value ₹ 170
Dividend Yield 3.52 %
ROCE 4.72 %
ROE 3.48 %
Face Value ₹ 2.00

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Pros

Company is almost debt free.
Stock is trading at 0.75 times its book value
Stock is providing a good dividend yield of 3.52%.
Company has been maintaining a healthy dividend payout of 67.7%

Cons

The company has delivered a poor sales growth of 3.92% over past five years.
Company has a low return on equity of 2.85% over last 3 years.
Earnings include an other income of Rs.17.4 Cr.
Working capital days have increased from 69.8 days to 131 days

* 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

Consumer Discretionary Automobile and Auto Components Auto Components Auto Components & Equipments

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Detailed Comparison with:

Quarterly Results

Figures in Rs. Crores

	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026
	298.85	287.87	287.26	303.32	294.29	310.75	317.72	319.08	302.89	286.04	332.62	349.68	347.07
	282.91	280.82	289.00	299.91	287.55	303.54	322.95	311.34	295.70	284.47	329.49	337.40	347.09
Operating Profit	15.94	7.05	-1.74	3.41	6.74	7.21	-5.23	7.74	7.19	1.57	3.13	12.28	-0.02
OPM %	5.33%	2.45%	-0.61%	1.12%	2.29%	2.32%	-1.65%	2.43%	2.37%	0.55%	0.94%	3.51%	-0.01%
	15.12	11.18	5.98	9.82	6.13	9.18	9.21	3.30	8.59	11.01	3.38	5.05	3.89
Interest	0.01	-0.00	-0.00	-0.00	-0.00	-0.00	0.01	-0.00	0.01	-0.00	-0.00	-0.00	0.12
Depreciation	3.02	3.02	3.08	3.13	3.05	2.96	3.10	2.99	2.95	2.70	2.56	2.53	2.80
Profit before tax	28.03	15.21	1.16	10.10	9.82	13.43	0.87	8.05	12.82	9.88	3.95	14.80	0.95
Tax %	24.40%	16.11%	-32.76%	14.46%	20.26%	11.32%	-136.78%	25.71%	30.42%	16.19%	30.89%	26.35%	104.21%
	21.20	12.76	1.54	8.64	7.82	11.92	2.05	5.98	8.92	8.28	2.73	10.91	-0.05
EPS in Rs	5.30	3.19	0.39	2.16	1.96	2.98	0.51	1.50	2.23	2.07	0.68	2.73	-0.01
Raw PDF

Profit & Loss

Figures in Rs. Crores

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	1,643	1,502	1,460	1,581	1,669	1,288	1,085	1,060	1,241	1,173	1,250	1,315
	1,516	1,389	1,360	1,468	1,581	1,233	1,061	1,052	1,210	1,157	1,233	1,292
Operating Profit	127	113	100	113	88	55	24	8	30	16	17	23
OPM %	8%	8%	7%	7%	5%	4%	2%	1%	2%	1%	1%	2%
	9	5	17	21	23	25	24	18	24	33	30	17
Interest	1	0	0	0	0	1	0	0	0	0	0	0
Depreciation	29	29	29	28	26	20	16	12	12	12	12	11
Profit before tax	106	88	88	105	86	58	31	14	42	36	35	30
Tax %	29%	30%	31%	26%	27%	27%	17%	12%	24%	15%	18%	26%
	76	61	61	78	63	43	26	12	32	31	29	22
EPS in Rs	18.91	15.29	15.18	19.38	15.65	10.64	6.54	3.04	7.98	7.69	7.22	5.47
Dividend Payout %	21%	26%	26%	23%	29%	42%	69%	148%	56%	58%	62%	82%

Compounded Sales Growth
10 Years:	-1%
5 Years:	4%
3 Years:	2%
TTM:	5%

Compounded Profit Growth
10 Years:	-9%
5 Years:	1%
3 Years:	2%
TTM:	401%

Stock Price CAGR
10 Years:	-3%
5 Years:	-4%
3 Years:	-2%
1 Year:	-9%

Return on Equity
10 Years:	5%
5 Years:	3%
3 Years:	3%
Last Year:	3%

Balance Sheet

Figures in Rs. Crores

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	8	8	8	8	8	8	8	8	8	8	8	8
Reserves	403	445	505	562	603	625	633	629	643	656	666	670
	-0	-0	-0	-0	-0	-0	-0	-0	-0	-0	-0	-0
	202	157	163	224	181	129	160	148	159	146	154	187
Total Liabilities	613	610	676	793	791	761	801	786	811	811	828	865
	211	197	178	157	143	145	134	125	129	123	118	113
CWIP	2	3	3	1	3	2	1	6	2	-0	1	0
Investments	68	82	171	244	243	319	292	307	313	322	349	347
	332	328	324	391	402	295	374	349	367	366	361	405
Total Assets	613	610	676	793	791	761	801	786	811	811	828	865

Cash Flows

Figures in Rs. Crores

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	55	65	83	96	41	66	-18	30	6	11	37	-21
	-48	-26	-79	-63	3	-82	43	-5	0	19	-10	14
	-22	-38	-0	-19	-22	-22	-18	-18	-18	-18	-18	-18
Net Cash Flow	-14	1	4	14	23	-39	7	7	-11	12	9	-25
Free Cash Flow	40	48	75	90	27	46	-23	22	-6	8	31	-27
CFO/OP	66%	91%	118%	112%	85%	152%	-44%	439%	33%	125%	270%	-49%

Ratios

Figures in Rs. Crores

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Debtor Days	45	48	49	57	44	40	66	59	57	57	49	65
Inventory Days	20	21	21	20	23	28	39	32	28	29	29	30
Days Payable	47	44	46	58	42	39	57	51	49	46	45	56
Cash Conversion Cycle	18	25	24	18	25	29	49	40	36	40	33	39
Working Capital Days	22	31	28	23	25	30	49	41	43	44	34	131
ROCE %	27%	20%	17%	18%	12%	6%	4%	1%	5%	5%	0%	5%

Insights

In beta

Mar 2014

Mar 2015

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Revenue from Operations
INR Lakhs

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					xx.xx				xx.xx	xx.xx	xx.xx
										xx.xx	xx.xx

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Total Headcount
numbers

Customer Concentration (Hero MotoCorp Revenue Contribution)
%

Capacity Utilization
%

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026
	65.02%	65.02%	65.02%	65.02%	65.02%	65.02%	65.02%	65.02%	65.02%	65.02%	65.02%	65.02%
	1.53%	1.25%	1.27%	1.27%	1.55%	1.83%	1.80%	2.20%	1.51%	1.38%	0.17%	0.09%
	0.01%	0.01%	0.04%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%
	33.45%	33.72%	33.68%	33.70%	33.42%	33.15%	33.17%	32.77%	33.47%	33.59%	34.80%	34.88%
No. of Shareholders	23,304	23,758	24,147	28,868	27,989	32,416	31,329	30,856	30,581	30,969	30,699	29,736

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	65.02%	65.02%	65.02%	65.02%	65.02%	65.02%	65.02%	65.02%	65.02%	65.02%
	2.76%	0.77%	0.50%	0.23%	0.39%	0.88%	1.26%	1.27%	2.20%	0.09%
	0.09%	0.75%	0.02%	0.07%	0.02%	0.02%	0.03%	0.01%	0.01%	0.01%
	32.13%	33.46%	34.46%	34.68%	34.57%	34.08%	33.71%	33.70%	32.77%	34.88%
No. of Shareholders	14,628	18,745	18,970	18,314	20,741	23,156	22,797	28,868	30,856	29,736

* 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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Munjal Showa Ltd

Munjal Showa Ltd

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flows

Ratios

Insights

Shareholding Pattern

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