Munjal Auto Industries Ltd.
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ABOUT
KEY POINTS
Revenue Breakup Mar 2026 • Auto Components: 62.7% • Composite Products & Moulds: 37.3%
AI Sector View
AI GENERATEDAutomobile and Auto Components
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.
PROS
- Company has consistently been profitable over the last 5 years
- Latest quarter profit grew 47.6% YoY, showing strong momentum
- Strong cash generation - operating cash flow backs reported profits (CFO/PAT 1.60x)
- Company generates healthy free cash flow
- Company has a consistent dividend-paying track record
CONS
- A large part of profit comes from other income (48.3% of PBT)
- Receivables are growing faster than sales - a possible quality concern
- Company has a low return on equity of 10.0% over last 3 years
- Total debt has risen sharply - up 59.2% year on year
- Company has delivered a poor sales growth of 1.6% over past five years
- Recurring exceptional / one-off items are inflating headline profit
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| MOTHERSON | 164.30 | 39.59 | 173409.49 | 0.37 | 1075.66 | 77.48 | 35243.77 | 17.70 | 13.63 | 8.86 |
| BOSCHLTD | 48388.75 | 60.40 | 142727.94 | 0.56 | 706.10 | -36.74 | 5841.90 | 22.00 | 25.60 | 14.08 |
| UNOMINDA | 1202.40 | 57.75 | 69434.66 | 0.22 | 315.51 | 2.10 | 5556.85 | 23.79 | 20.74 | 11.14 |
| TIINDIA | 2607.25 | 83.21 | 50469.14 | 0.13 | 293.96 | -3.04 | 6215.33 | 20.20 | 27.33 | 8.81 |
| SONACOMS | 788.95 | 70.76 | 49240.61 | 0.43 | 178.51 | 46.67 | 1301.20 | 52.38 | 14.75 | 22.55 |
| ENDURANCE | 2696.75 | 39.11 | 37933.25 | 0.43 | 244.52 | 8.03 | 4314.89 | 30.01 | 18.33 | 12.42 |
| CRAFTSMAN | 11663.75 | 65.61 | 30505.88 | 0.10 | 150.55 | 116.31 | 2431.58 | 36.30 | 14.65 | 15.81 |
| ZFCVINDIA | 2548.90 | 58.10 | 29007.88 | 0.03 | 1044.78 | 753.75 | 10661.76 | 992.89 | 20.23 | 12.93 |
| SANSERA | 4130.20 | 73.97 | 25773.92 | 0.10 | 87.36 | 38.71 | 1021.26 | 33.27 | 14.29 | 19.18 |
| MSUMI | 36.30 | 38.37 | 24072.93 | 1.60 | 1453.20 | 915.51 | 34072.60 | 1273.43 | 43.72 | 7.58 |
| GABRIEL | 1345.45 | 80.11 | 23845.41 | 0.37 | 1081.26 | 925.35 | 14256.83 | 1055.00 | 26.37 | 11.71 |
| MUNJALAU | 106.70 | 21.25 | 1067.00 | 0.94 | 28.50 | 47.57 | 699.01 | 42.36 | 16.02 | 6.30 |
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
| 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 509 | 545 | 422 | 406 | 510 | 522 | 522 | 512 | 491 | 584 | 606 | 614 | 699 | |
| 484 | 509 | 396 | 373 | 480 | 492 | 500 | 477 | 463 | 558 | 564 | 596 | 684 | |
| Operating Profit | 25 | 36 | 26 | 34 | 30 | 31 | 22 | 34 | 28 | 26 | 42 | 19 | 15 |
| OPM % | 4.83% | 6.62% | 6.17% | 8.28% | 5.84% | 5.87% | 4.27% | 6.72% | 5.78% | 4.52% | 6.94% | 3.04% | 2.12% |
| 10 | 7 | -28 | 35 | 1 | 12 | 5 | 1 | 24 | 11 | 5 | 12 | 20 | |
| Interest | 7 | 7 | 7 | 6 | 7 | 8 | 8 | 8 | 9 | 10 | 10 | 10 | 10 |
| Depreciation | 14 | 14 | 14 | 14 | 14 | 15 | 15 | 15 | 15 | 15 | 17 | 18 | 19 |
| Profit before Tax | 14 | 22 | -23 | 48 | 10 | 21 | 3 | 13 | 28 | 13 | 20 | 2 | 35 |
| Tax % | 28.13% | 32.96% | 0.26% | 24.66% | -2.25% | 1.50% | 167.34% | 18.15% | 32.05% | -6.98% | 25.27% | 151.02% | 19.05% |
| Net Profit | 0 | 0 | 0 | 0 | 10 | 20 | -2 | 10 | 19 | 13 | 15 | -1 | 29 |
| 0.99 | 1.38 | -1.22 | 2.72 | 1.17 | 1.86 | -0.22 | 0.83 | 1.58 | 1.12 | 1.35 | -0.03 | 2.58 |
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|
| 1,214 | 1,236 | 2,123 | 1,916 | 1,984 | 1,882 | 2,066 | 2,295 | 2,503 | |
| 1,145 | 1,190 | 2,040 | 1,833 | 1,894 | 1,761 | 1,949 | 2,167 | 2,401 | |
| Operating Profit | 69 | 45 | 82 | 83 | 90 | 120 | 117 | 128 | 102 |
| OPM % | 5.70% | 3.66% | 3.89% | 4.32% | 4.53% | 6.40% | 5.67% | 5.56% | 4.07% |
| 4 | 5 | 5 | 5 | 60 | 24 | 19 | 39 | 48 | |
| Interest | 4 | 12 | 16 | 12 | 27 | 28 | 31 | 39 | 40 |
| Depreciation | 20 | 31 | 39 | 36 | 53 | 56 | 59 | 65 | 69 |
| Profit before Tax | 49 | 7 | 33 | 41 | 70 | 61 | 46 | 63 | 70 |
| Tax % | 23.39% | 44.50% | 38.39% | 27.19% | 26.52% | 37.90% | 15.79% | 26.79% | 20.72% |
| Net Profit | 37 | 4 | 20 | 30 | 52 | 38 | 39 | 46 | 55 |
| EPS | 0.00 | 0.00 | 2.04 | 2.68 | 5.61 | 3.85 | 3.64 | 4.02 | — |
| Dividend Payout % | 27.80% | 0.00% | 0.00% | 37.32% | 35.63% | 51.96% | 27.48% | 24.88% | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- —
- 5 Years:
- 2%
- 3 Years:
- 5%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- —
- 5 Years:
- 14%
- 3 Years:
- -11%
STOCK PRICE CAGR
- 10 Years:
- 9%
- 5 Years:
- 13%
- 3 Years:
- 23%
- 1 Year:
- 18%
RETURN ON EQUITY
- 10 Years:
- —
- 5 Years:
- 11%
- 3 Years:
- 10%
- Last Year:
- 11%
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|
| Equity Capital | 20 | 20 | 20 | 20 | 20 | 20 | 20 | 20 |
| Minority Interest | 12 | 12 | 12 | 14 | 10 | 10 | 12 | 19 |
| 277 | 269 | 291 | 317 | 364 | 381 | 396 | 428 | |
| 38 | 140 | 123 | 126 | 286 | 259 | 315 | 387 | |
| Trade Payables | 151 | 283 | 262 | 252 | 312 | 245 | 273 | 368 |
| 52 | 61 | 149 | 228 | 274 | 290 | 208 | 217 | |
| Total Liabilities | 551 | 784 | 856 | 958 | 1,266 | 1,205 | 1,224 | 1,438 |
| 200 | 343 | 303 | 263 | 416 | 398 | 439 | 456 | |
| Capital Work in Progress | 25 | 2 | 1 | 4 | 8 | 9 | 18 | 7 |
| 7 | 21 | 26 | 118 | 104 | 171 | 129 | 116 | |
| 75 | 93 | 83 | 112 | 208 | 209 | 231 | 283 | |
| 0 | 0 | 0 | 0 | 0 | 277 | 305 | 429 | |
| Cash & Bank | 23 | 17 | 18 | 7 | 13 | 12 | 13 | 23 |
| 220 | 308 | 425 | 454 | 517 | 130 | 89 | 125 | |
| Total Assets | 551 | 784 | 856 | 958 | 1,266 | 1,205 | 1,224 | 1,438 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|
| 37 | 93 | 66 | 144 | 52 | 127 | 25 | 45 | |
| Cash from Investing | -15 | -139 | -14 | -99 | 37 | -77 | -9 | -57 |
| Cash from Financing | -5 | 47 | -45 | -50 | -65 | -53 | -15 | 18 |
| 6 | -5 | -0 | -13 | 6 | -3 | 1 | 5 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
2026-09-12 - Munjal Auto Industries Limited has informed the Exchange regarding ' Announcement under Regulation 30 (LODR)-Memorandum of Understanding /Agreements'.
2026-09-11 - Munjal Auto Industries Limited has informed the Exchange regarding 'Final Reminder Sent To Shareholders For Unclaimed Dividend / Transfer Of Shares To IEPF Authority'.
2026-09-01 - Munjal Auto Industries Limited has submitted the Exchange a copy Srutinizers report of Annual General Meeting held on August 31, 2026. Further, the company has informed the Exchange regarding voting results.
2026-08-31 - Munjal Auto Industries Limited has informed the Exchange regarding Proceedings of Annual General Meeting held on August 31, 2026
2026-08-14 - Munjal Auto Industries Limited has informed the Exchange regarding 'Announcement Under Regulation 30 Of SEBI (LODR) Regulations, 2015'.eneral updates
2026-08-13 - Munjal Auto Industries Limited has informed the Exchange that Record date for the purpose of Dividend is 20-Aug-2026.
2026-08-13 - Munjal Auto Industries Limited has informed the Exchange about Copy of Newspaper Publication
2026-08-12 - Munjal Auto Industries Limited has informed the Exchange regarding 'Munjal auto Industries limited has informed the exchange regarding unaudited financial result' for the quarter ended June 30,2026.
2026-08-12 - Munjal Auto Industries Limited has submitted to the Exchange, the financial results unaudited standalone and consolidated for the quarter ended Jun 30, 2026.
News
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