Menon Pistons Ltd.

•

menonindia.inBSE: 531727NSE: MENNPIS

Market Cap₹ 410 Cr.

Current Price

High / Low₹ 86 / 52

Stock P/E23.1

Book Value₹ 32

Price to Book1.50

Dividend Yield1.24 %

ROCE16.8 %

ROE11.5 %

Face Value₹ 1

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ABOUT

KEY POINTS

Revenue Breakup Mar 2026 • Sale of Pistons: 54.2% • Sale of Pistons Assemblies: 26.3% • Sale of Pins: 12.4%

AI Sector View

AI GENERATED

Automobile and Auto Components

Buy

Domestic auto demand remains strong across categories, with total vehicles registered up 27% YoY (2026-07), passenger vehicle sales up 14% YoY (2026-06), 2-wheelers up 23% YoY (2026-06), and tractor sales up 18% YoY (2026-07). Core demand is reinforced by vehicle sales of 395199 units (Jul/26) and car registrations of 457810 units (Jul/26), outweighing FPI outflows of INR -11826 crore over 3 months to 2026-08-31. The stance stays positive because fundamentals are stronger than positioning.

Confidence

74%

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PROS

Company is almost debt free
Strong cash generation - operating cash flow backs reported profits (CFO/PAT 1.73x)
Working capital cycle has improved - days down from 76 to 45
Company generates healthy free cash flow
Company comfortably covers its interest (7.9x coverage)
Company has a consistent dividend-paying track record

CONS

Operating margins have contracted to 12.8% from 18.8%
Valuation is stretched - P/E of 23.1 is well above its own 5-year median (13.7)
Growth is decelerating - 3Y profit CAGR (-9.3%) trails the 5Y trend (14.6%)

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

Automobile and Auto ComponentsAutomobile & AncillariesAuto Ancillary

Part ofNIFTY 50 NIFTY 500 NIFTY LARGEMIDCAP 250 NIFTY 100 NIFTY 200

S.No.	Name
1.	MOTHERSON	163.80	39.47	172881.77	0.37	1075.66	77.48	35243.77	17.70	13.63	8.86
2.	BOSCHLTD	48900.00	61.03	144235.93	0.55	706.10	-36.74	5841.90	22.00	25.60	14.08
3.	UNOMINDA	1230.45	59.10	71054.45	0.22	315.51	2.10	5556.85	23.79	20.74	11.14
4.	TIINDIA	2685.25	85.70	51979.01	0.13	293.96	-3.04	6215.33	20.20	27.33	8.81
5.	SONACOMS	800.45	71.79	49958.36	0.42	178.51	46.67	1301.20	52.38	14.75	22.55
6.	ENDURANCE	2754.35	39.95	38743.47	0.42	244.52	8.03	4314.89	30.01	18.33	12.42
7.	CRAFTSMAN	11855.90	66.69	31008.43	0.09	150.55	116.31	2431.58	36.30	14.65	15.81
8.	ZFCVINDIA	2471.00	56.33	28121.34	0.03	1044.78	753.75	10661.76	992.89	20.23	12.93
9.	SANSERA	4133.05	74.02	25791.71	0.10	87.36	38.71	1021.26	33.27	14.29	19.18
10.	MSUMI	36.71	38.80	24344.83	1.58	1453.20	915.51	34072.60	1273.43	43.72	7.58
11.	GABRIEL	1361.00	81.04	24121.01	0.37	1081.26	925.35	14256.83	1055.00	26.37	11.71
12.	MENNPIS	80.36	15.74	409.84	1.24	8.23	5.99	83.26	3.70	21.41	17.30

Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	56	52	50	53	57	55	53	48	64	59	60	60	66
	47	44	42	45	47	46	45	42	55	51	53	54	60
Operating Profit	9	8	8	8	10	8	8	6	9	8	8	6	6
OPM %	15.42%	16.30%	15.99%	15.93%	17.33%	15.18%	15.14%	12.60%	14.57%	13.60%	12.93%	10.17%	8.77%
	0	1	3	3	1	1	1	1	1	1	1	1	1
Interest	1	1	1	1	1	1	1	1	1	1	1	1	1
Depreciation	1	2	2	2	2	2	2	2	2	2	2	2	2
Profit before Tax	7	7	8	9	8	6	6	4	7	6	6	5	7
Tax %	25.18%	25.11%	25.12%	9.73%	25.23%	25.20%	25.17%	34.41%	26.28%	27.85%	31.24%	16.20%	25.47%
Net Profit	5	5	6	8	6	5	4	3	5	5	4	4	5
	1.01	0.96	1.21	1.56	1.11	0.91	0.86	0.52	1.02	0.89	0.77	0.77	1.04

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	133	146	156	118	137	201	208	211	212	244	246
	118	130	137	107	120	170	176	177	180	213	218
Operating Profit	15	16	19	11	17	31	32	34	32	31	28
OPM %	11.20%	10.78%	11.92%	9.11%	12.35%	15.20%	15.29%	15.89%	15.16%	12.84%	11.30%
	2	1	1	0	1	1	7	7	3	4	4
Interest	2	1	0	0	0	1	3	4	4	3	3
Depreciation	4	4	5	5	5	6	6	6	7	8	8
Profit before Tax	11	12	14	6	12	24	30	31	24	24	24
Tax %	31.64%	40.72%	28.23%	21.20%	25.86%	26.44%	22.41%	20.69%	26.74%	25.84%	25.66%
Net Profit	7	7	10	4	9	18	24	24	17	18	18
EPS	0.00	0.00	0.00	0.00	1.75	3.51	4.64	4.74	3.40	3.46	—
Dividend Payout %	34.47%	43.56%	37.96%	52.33%	57.08%	21.39%	21.57%	21.08%	29.44%	28.92%	—

COMPOUNDED SALES GROWTH

10 Years:: 6%
5 Years:: 12%
3 Years:: 5%

COMPOUNDED PROFIT GROWTH

10 Years:: 15%
5 Years:: 15%
3 Years:: -9%

STOCK PRICE CAGR

10 Years:: —
5 Years:: —
3 Years:: —
1 Year:: —

RETURN ON EQUITY

10 Years:: 14%
5 Years:: 17%
3 Years:: 14%
Last Year:: 12%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	5	5	5	5	5	5	5	5	5	5
	63	66	73	69	78	91	111	130	141	154
	14	8	2	4	11	20	17	20	14	3
Trade Payables	12	10	11	7	17	19	13	18	21	27
	9	10	11	7	11	17	19	18	14	16
Total Liabilities	103	100	102	93	122	151	164	191	196	204
	29	27	31	32	35	42	52	74	76	95
Capital Work in Progress	0	0	0	0	0	1	0	0	0	4
	0	0	0	0	0	12	27	27	27	27
	17	16	17	21	21	23	21	20	25	26
	0	0	0	0	0	0	0	58	43	32
Cash & Bank	9	3	2	4	13	2	1	2	8	7
	48	55	52	36	54	72	64	10	17	13
Total Assets	103	100	102	93	122	151	164	191	196	204

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	9	6	16	16	15	11	48	23	35	45
Cash from Investing	-5	4	-8	-7	-9	-25	-25	-16	-20	-23
Cash from Financing	-1	-4	-4	-6	7	10	-17	-6	-14	-23
	-1	1	-1	1	10	-11	-1	1	1	-1

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026

Shareholding Pattern

Numbers in percentages

	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	74.37	74.37	74.37	74.37	74.37	74.37	74.37	74.37	74.37
	0.04	0.04	0.04	0.03	0.03	0.00	0.00	0.00	0.00
	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.03
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	25.59	25.60	25.60	25.60	25.60	25.63	25.63	25.63	25.60

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

No announcements filed.

News

Recent coverage and analyst commentary for MENNPIS

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AI Stock Analyst

Menon Pistons Ltd.

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Name

MOTHERSON

163.80

39.47

172881.77

0.37

1075.66

77.48

35243.77

17.70

13.63

8.86

BOSCHLTD

48900.00

61.03

144235.93

0.55

706.10

-36.74

5841.90

22.00

25.60

14.08

UNOMINDA

1230.45

59.10

71054.45

0.22

315.51

2.10

5556.85

23.79

20.74

11.14

TIINDIA

2685.25

85.70

51979.01

0.13

293.96

-3.04

6215.33

20.20

27.33

8.81

SONACOMS

800.45

71.79

49958.36

0.42

178.51

46.67

1301.20

52.38

14.75

22.55

ENDURANCE

2754.35

39.95

38743.47

0.42

244.52

8.03

4314.89

30.01

18.33

12.42

CRAFTSMAN

11855.90

66.69

31008.43

0.09

150.55

116.31

2431.58

36.30

14.65

15.81

ZFCVINDIA

2471.00

56.33

28121.34

0.03

1044.78

753.75

10661.76

992.89

20.23

12.93

SANSERA

4133.05

74.02

25791.71

0.10

87.36

38.71

1021.26

33.27

14.29

19.18

MSUMI

36.71

38.80

24344.83

1.58

1453.20

915.51

34072.60

1273.43

43.72

7.58

GABRIEL

1361.00

81.04

24121.01

0.37

1081.26

925.35

14256.83

1055.00

26.37

11.71

MENNPIS

80.36

15.74

409.84

1.24

8.23

5.99

83.26

3.70

21.41

17.30

Jun 2023

Sep 2023

Dec 2023

Mar 2024

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

Operating Profit

OPM %

15.42%

16.30%

15.99%

15.93%

17.33%

15.18%

15.14%

12.60%

14.57%

13.60%

12.93%

10.17%

8.77%

Interest

Depreciation

Profit before Tax

Tax %

25.18%

25.11%

25.12%

9.73%

25.23%

25.20%

25.17%

34.41%

26.28%

27.85%

31.24%

16.20%

25.47%

Net Profit

1.01

0.96

1.21

1.56

1.11

0.91

0.86

0.52

1.02

0.89

0.77

1.04

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

TTM

133

146

156

118

137

201

208

211

212

244

246

118

130

137

107

120

170

176

177

180

213

218

Operating Profit

OPM %

11.20%

10.78%

11.92%

9.11%

12.35%

15.20%

15.29%

15.89%

15.16%

12.84%

11.30%

Interest

Depreciation

Profit before Tax

Tax %

31.64%

40.72%

28.23%

21.20%

25.86%

26.44%

22.41%

20.69%

26.74%

25.84%

25.66%

Net Profit

EPS

0.00

1.75

3.51

4.64

4.74

3.40

3.46

—

Dividend Payout %

34.47%

43.56%

37.96%

52.33%

57.08%

21.39%

21.57%

21.08%

29.44%

28.92%

—

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Equity Capital

111

130

141

154

Trade Payables

Total Liabilities

103

100

102

122

151

164

191

196

204

Capital Work in Progress

Cash & Bank

Total Assets

103

100

102

122

151

164

191

196

204

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Cash from Investing

-5

-8

-7

-9

-25

-16

-20

-23

Cash from Financing

-1

-4

-6

-17

-6

-14

-23

-1

-11

-1

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

74.37

0.04

0.03

0.00

0.03

Government

0.00

25.59

25.60

25.63

25.60

Menon Pistons Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

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Menon Pistons Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

Sign in to Chat with AI