Munjal Showa Limited (MUNJALSHOW)

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Munjal Showa Limited (MUNJALSHOW) · mywealthgrid

About

Munjal Showa Limited manufactures auto components and equipment in the Consumer Discretionary segment. The company operates at ₹552.84 Cr market cap with ₹347–350 Cr quarterly revenue. At 65% promoter ownership with zero debt, it reflects concentrated governance and financial conservatism.

Face value: ₹2

Market cap

₹498 Cr

P/E

20.1×

P/B

0.7×

Dividend yield

3.6%

ROE

3.2%

ROCE

4.6%

Debt / equity

OPM

1.8%

EPS (TTM)

₹6.2

Book value

₹169.5

52-week high

—

52-week low

Key insights

Company research notes and source-linked reviews

Key risks

Operating margins critically thin at 1.75% average, with quarterly volatility from −1.65% to 3.51%, leaving minimal protection against cost shocks or sales disruptions
Mar 2026 demonstrates operational fragility: despite ₹347 Cr revenue, the company recorded a net loss of ₹0.05 Cr
ROE of only 3.23% despite zero debt indicates poor capital utilization and limited profitability relative to asset base
Very low institutional ownership (FII 0.11%, DII 0.01%) raises questions about research coverage and information asymmetry in the stock

Generated analysis · source review pending

Growth drivers

Jun 2026 revenue of ₹347.5 Cr represents 21% YoY growth vs Jun 2025 (₹286.04 Cr); verify whether this acceleration reflects sustained demand or cyclical strength
Operating margins recovered from −1.65% (Sep 2024) to 3.51% (Dec 2025), though deteriorated to −0.01% in Mar 2026; assess whether improvements are structural or temporary
Verify company's product portfolio exposure to electric vehicle components, an emerging growth segment in Indian automotive
Zero debt (D/E 0) provides capital flexibility; assess whether management is deploying this advantage for operational efficiency or growth investments

Generated analysis · source review pending

2,528 historical price candles were omitted because the exchange source has not been verified.

₹124.5-1.4%1Y

Quick read

rule-based

Pros

+Almost debt-free (debt/equity 0)
+Comfortable interest coverage of 228×
+Dividend yield of 3.6%
+Dividend payout of 72.5% of profit
+High promoter holding of 65% with no pledge

Cons

−Low return on equity of 4.1% (3-yr avg)
−Thin operating margin of 1.8%
−Profit declined 3.5% a year over the last 5 years
−Modest revenue growth of 3.9% a year over the last 5 years

Research score

Structured signal from quality, growth, valuation and momentum.

50/100

Business quality: 40
Growth

Revenue & net profit

₹ crore, by fiscal year

RevenuePAT

Margins

% of revenue, by fiscal year

OPMPAT margin

Peers

Comparable companies from the narrowest available industry classification.

Screen this industry Compare top 5 side-by-side

Company	Mkt Cap	EV	Revenue	EBITDA	OPM	PAT	NPM	ROCE	ROE	WC Days
Samvardhana Motherson International LimitedMOTHERSONMOTHERSON	₹1,65,731 Cr	₹1,81,626 Cr	₹1,31,135 Cr	₹12,541 Cr	9.4%	₹4,380 Cr	3.2%	12.6%	10.2%	-26
Bosch LimitedBOSCHLTDBOSCHLTD	₹1,34,166 Cr	₹1,34,166 Cr	₹21,088 Cr	₹2,832 Cr	13.2%	₹2,363 Cr	13.8%	21%	19.4%	13
Bharat Forge LimitedBHARATFORGBHARATFORG	₹89,644 Cr	₹96,518 Cr	₹17,543 Cr	₹2,963 Cr	17.4%	₹706 Cr	6.5%	17.9%	11.5%	136
Uno Minda LimitedUNOMINDAUNOMINDA	₹64,160 Cr	₹66,698 Cr	₹20,725 Cr	₹2,280 Cr	11.5%	₹1,202 Cr	6.5%	19.3%	19.1%	37
Schaeffler India LimitedSCHAEFFLERSCHAEFFLER	₹60,732 Cr	₹60,787 Cr	₹10,505 Cr	₹1,917 Cr	18.2%	₹1,253 Cr	11.9%	27.3%	20.2%	68
Sona Blw Precision Forgings LimitedSONACOMSSONACOMS	₹50,071 Cr	₹50,314 Cr	₹4,935 Cr	₹1,207 Cr	24.7%	₹686 Cr	14.1%	14.6%	11%	121
Tube Investments Of India LimitedTIINDIATIINDIA	₹45,302 Cr	₹45,695 Cr	₹23,754 Cr	₹2,260 Cr	9.9%	₹607 Cr	4.9%	15.4%	9.6%	41
Endurance Technologies LimitedENDURANCEENDURANCE	₹36,602 Cr	₹37,928 Cr	₹15,592 Cr	₹2,058 Cr	13.5%	₹970 Cr	6.5%	18.5%	15.2%	-6
Exide Industries LimitedEXIDEINDEXIDEIND	₹34,803 Cr	₹35,896 Cr	₹18,829 Cr	₹1,954 Cr	10.4%	₹932 Cr	4.8%	8.9%	6.1%	42
Dhoot Transmission LimitedDHOOTTRANSDHOOTTRANS	₹29,518 Cr	₹30,359 Cr	₹4,525 Cr	₹711 Cr	15.7%	₹397 Cr	8.8%	30.8%	23.1%	69
Craftsman Automation LimitedCRAFTSMANCRAFTSMAN	₹26,897 Cr	₹30,238 Cr	₹8,717 Cr	₹1,357 Cr	15.3%	₹465 Cr	4.8%	16.1%	12.5%	74
Sansera Engineering LimitedSANSERASANSERA	₹26,686 Cr	₹27,144 Cr	₹3,753 Cr	₹696 Cr	18.1%	₹351 Cr	9.3%	14.7%	11.1%	98

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Financials

Reported profit and loss, balance sheet, cash flow and growth history.

Annual Quarterly

Standalone figures · ₹ crore · years without a filed annual are summed from quarters

₹ Cr	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	1,502	389	389	1,669	1,288	1,085	1,060	1,241	1,173	1,250	1,315
COGS	-1,098	264	264	-1,253	952	814	821	966	908	971	1,021
Gross profit	—	125	125	—	337	271	239	274	265	280	294
	2,487	102	102	2,834	282	247	231	244	249	263	271
	113	23	23	88	55	24	8	30	15	17	23
OPM %	7.5%	5.9%	5.9%	5.3%	4.3%	2.2%	0.8%	2.4%	1.3%	1.4%	1.8%
Depreciation	29	7	7	26	20	16	12	12	12	12	11
Interest	0	0	0	0	0	0	0	0	0	0	0
	4	3	3	23	25	24	18	17	33	30	17
Profit before tax	88	19	19	86	58	31	14	35	36	35	30
Tax	27	6	6	23	16	5	2	10	6	6	8
Tax %	30.4%	33%	33%	26.8%	27.2%	16.9%	12.5%	28.6%	15.2%	17.9%	26.1%
	61	12	12	63	43	26	12	25	31	29	22
PAT margin %	4.1%	3.2%	3.2%	3.8%	3.3%	2.4%	1.2%	2%	2.6%	2.3%	1.7%
EPS (₹)	15.3	3.1	3.1	15.7	10.6	6.5	3	8	2	7.2	5.5
EPS adjusted (₹)	—	—	—	15.7	10.6	6.5	3	6.3	7.7	7.2	5.5
	26.2%	129%	145.2%	28.8%	42.3%	68.8%	148%	56.4%	229.6%	62.3%	82.3%
Annual report	Annual report for Mar 2016	Annual report for Mar 2017	Annual report for Mar 2018	Annual report for Mar 2019	Annual report for Mar 2020	Annual report for Mar 2021	Annual report for Mar 2022	Annual report for Mar 2023	Annual report for Mar 2024	Annual report for Mar 2025	Annual report for Mar 2026

₹ Cr	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
Reserves	603	625	633	629	643	656	666	670
	—	—	0	0	0	0	0	0
	181	129	160	148	159	146	154	187
Total equity & liabilities	791	761	801	786	811	811	828	865
	143	145	134	125	129	123	118	113
CWIP	3	2	1	5	2	0	1	0
Investments	243	319	292	307	313	322	349	347
	402	296	374	349	367	366	361	405
Total assets	791	761	801	786	811	811	828	865

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Ratios

Annual operating, return, leverage and working-capital ratios.

Standalone figures

Ratio	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	—	26.1%	25%	22.5%	22.1%	22.6%	22.4%	22.4%
EBITDA margin %	5.3%	4.3%	2.2%	0.8%	2.4%	1.3%	1.4%	1.8%
EBIT margin %	3.7%	2.7%	0.7%	-0.4%	1.5%	0.3%	0.4%	0.9%
PAT margin %	3.8%	3.3%	2.4%	1.2%	2%	2.6%	2.3%	1.7%
Working capital
Receivable days	44	40	66	59	57	57	49	65
Inventory days	19	28	39	32	28	29	29	30
Payable days	33	39	57	51	49	46	45	56
NWC days	29	29	49	40	36	40	33	39
Leverage
Current ratio	3.02	4.29	3.68	3.76	3.76	4.15	4.25	3.72
Debt to EBITDA	—	—	0	0	0	0	0	0
Debt to equity	—	—	0	0	0	0	0	0
Interest coverage	856.5	136.9	210.6	232.3	774.2	3,757	1,759	228
Asset turnover	2.11	1.69	1.35	1.35	1.53	1.45	1.51	1.52
Return ratios
Return on assets %	7.9%	5.6%	3.3%	1.5%	3.1%	3.8%	3.5%	2.5%
Return on capital employed %	14%	9.4%	4.9%	2.1%	5.9%	5.6%	5.2%	4.6%
Return on equity %	10.3%	6.7%	4.1%	1.9%	3.8%	4.6%	4.3%	3.2%

Derived from reported annual statements. ROCE uses EBIT over capital employed (total assets less current liabilities). Day counts average the opening and closing balance; receivables turn on revenue, inventory and payables on cost of goods sold.

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Shareholding

Quarterly ownership, named holders, insider transactions and disclosed deals.

Quarterly Annual

Every quarter filed · % of equity

Holder (%)	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 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%
	1.25%	1.27%	1.27%	1.55%	1.83%	1.8%	2.2%	1.51%	1.38%	0.17%	0.09%	0.11%
	0.01%	0.03%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%
Government	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
	33.72%	33.68%	33.7%	33.42%	33.14%	33.17%	32.77%	33.46%	33.59%	34.8%	34.88%	34.86%
No. of shareholders	—	—	—	—	—	—	—	—	30,969	30,699	29,736	29,096

Promoter holding up 0 percentage points since Sep 2023.

18 deals · 6 Jun 2023 – 13 Oct 2025

Date	Client	Type	Venue	Side	Quantity	Price	Value
13 Oct 2025	ESVEE CAPITAL	Bulk	NSE	Sell	3,80,000	₹122.09	₹4.64 Cr
23 Jun 2025	ESVEE CAPITAL	Bulk	NSE	Sell	3,00,000	₹118.40	₹3.55 Cr
2 Sept 2024	GRAVITON RESEARCH CAPITAL LLP	Bulk	NSE	Sell	3,04,663	₹184.59	₹5.62 Cr
2 Sept 2024	GRAVITON RESEARCH CAPITAL LLP	Bulk	NSE	Buy	3,04,663	₹184.59	₹5.62 Cr
31 Jul 2024	GRAVITON RESEARCH CAPITAL LLP	Bulk	NSE	Sell	3,69,142	₹178.69	₹6.60 Cr
31 Jul 2024	GRAVITON RESEARCH CAPITAL LLP	Bulk	NSE	Buy	3,69,142	₹178.53	₹6.59 Cr
1 Mar 2024	GRAVITON RESEARCH CAPITAL LLP	Bulk	NSE	Sell	2,16,008	₹189.51	₹4.09 Cr
1 Mar 2024	GRAVITON RESEARCH CAPITAL LLP	Bulk	NSE	Buy	2,16,008	₹189.36	₹4.09 Cr
19 Jan 2024	GRAVITON RESEARCH CAPITAL LLP	Bulk	NSE	Sell	4,46,902	₹192.38	₹8.60 Cr
19 Jan 2024	GRAVITON RESEARCH CAPITAL LLP	Bulk	NSE	Buy	4,46,902	₹192.10	₹8.58 Cr

1–10 of 18

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Mr. YOGESH CHANDER MUNJALExecutive Director-Chairperson-MD
Pankaj GuptaChief Financial Officer
Mr. HITOSHI FUKAGAWAExecutive Director-MD
Mr. KATSUMATA TETSUYANon-Executive - Non Independent Director
Mr. ASHOK KUMAR MUNJALNon-Executive - Independent Director
Mrs. KAVITA VENUGOPALNon-Executive - Independent Director
Ms. NEETIKA BATRANon-Executive - Independent Director
Mr. ABHAYA SHANKARNon-Executive - Independent Director
Mr. NEERAJ MUNJALNon-Executive - Non Independent Director
Mr. Ravinder SharmaCompany Secretary & Compliance Officer

Current officeholders as filed with BSE. A person holding two offices is listed once per office.

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F&O

Current futures and options contracts with compact option-chain pages.

Not in the F&O segment

Only about 210 stocks have listed futures and options. Contracts appear here for those, refreshed after each close.

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Fund holders

Mutual-fund schemes that disclosed a holding in the company.

No fund holdings on record

No scheme among the 32 fund houses on record reported a position in Munjal Showa Limited. Portfolios are published monthly by each AMC; coverage is still partial.

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Documents

Annual reports, exchange filings, offer documents, ratings and earnings-call material.

Announcements

Annual reports

Credit ratings

Enclosed Intimation of Credit Rating for your information and record.29 Aug 2025

Documents link to external sources (exchange filings, company investor pages).

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Events

Upcoming dates and the company’s corporate-action history.

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Announcements

Latest exchange announcements, filings and downloadable documents.

1 month 3 months 6 months 1 year All

12 announcementsExport CSV

28 Jul 2026, 12:10 pmBoard Meeting

Board Meeting Intimation for Intimation Of Board Meeting To Consider The Un-Audited Financial Results For The Quarter Ended June 30, 2026

Exchange filing PDF

23 Jul 2026, 11:32 amCompany Update

Announcement under Regulation 30 (LODR)-Newspaper Publication

Newspaper Publication PDF

15 Jul 2026, 12:09 pmCompany Update

Announcement Under Regulation 30 - Updates

General PDF

3 Jul 2026, 2:36 pmCompany Update

Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018

Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018 PDF

Date	Category	Subject	Filing
28 Jul 2026, 12:10 pm	Board Meeting	Board Meeting Intimation for Intimation Of Board Meeting To Consider The Un-Audited Financial Results For The Quarter Ended June 30, 2026	PDF
23 Jul 2026, 11:32 am	Company Update Newspaper Publication	Announcement under Regulation 30 (LODR)-Newspaper Publication

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Ratio	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	—	26.1%	25%	22.5%	22.1%	22.6%	22.4%	22.4%
EBITDA margin %	5.3%	4.3%	2.2%	0.8%	2.4%	1.3%	1.4%	1.8%
EBIT margin %	3.7%	2.7%	0.7%	-0.4%	1.5%	0.3%	0.4%	0.9%
PAT margin %	3.8%	3.3%	2.4%	1.2%	2%	2.6%	2.3%	1.7%
Working capital
Receivable days	44	40	66	59	57	57	49	65
Inventory days	19	28	39	32	28	29	29	30
Payable days	33	39	57	51	49	46	45	56
NWC days	29	29	49	40	36	40	33	39
Leverage
Current ratio	3.02	4.29	3.68	3.76	3.76	4.15	4.25	3.72
Debt to EBITDA	—	—	0	0	0	0	0	0
Debt to equity	—	—	0	0	0	0	0	0
Interest coverage	856.5	136.9	210.6	232.3	774.2	3,757	1,759	228
Asset turnover	2.11	1.69	1.35	1.35	1.53	1.45	1.51	1.52
Return ratios
Return on assets %	7.9%	5.6%	3.3%	1.5%	3.1%	3.8%	3.5%	2.5%
Return on capital employed %	14%	9.4%	4.9%	2.1%	5.9%	5.6%	5.2%	4.6%
Return on equity %	10.3%	6.7%	4.1%	1.9%	3.8%	4.6%	4.3%	3.2%

₹ Cr	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	41	66	-14	30	33	11	37	-21
	3	-82	39	-5	0	19	-10	14
	-22	-22	-18	-18	-18	-18	-18	-18
Net cash flow	—	—	7	7	15	12	9	-25
Free cash flow	—	—	-19	22	21	11	30	-27
CFO / Operating profit %	46.5%	120.1%	-57.3%	363.4%	109.9%	73.8%	216.4%	-89.9%

Munjal Showa Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Ratios

Shareholding

F&O

Not in the F&O segment

Fund holders

No fund holdings on record

Documents

Announcements

Annual reports

Credit ratings

Events

Announcements

Not in the F&O segment

20

1

No fund holdings on record

Announcements

Annual reports

Credit ratings

Compounded sales growth

Compounded profit growth

Return on equity

Munjal Showa Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Profit & loss

Balance sheet

Ratios

Ratio timeline

Shareholding

Quarterly record

Bulk & block deals

Board and management

F&O

Not in the F&O segment

Fund holders

No fund holdings on record

Documents

Announcements

Annual reports

Credit ratings

Events

Announcements

Ratio timeline

Not in the F&O segment

Dividends20

Board meetings1

No fund holdings on record

Announcements

Annual reports

Credit ratings

Quarterly record

Bulk & block deals

Board and management

Profit & loss

Balance sheet

Cash flow

Compounded returns

Compounded sales growth

Compounded profit growth

Return on equity

20

1