MUNJALSHOW

Munjal Showa Limited

Auto suspension components including struts, shock absorbers and front forks

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

munjalshowa.net(opens the company website in a new tab)
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Key metrics

Price as of 2026-10-16

Stock price
₹123.44
Market cap
493 Cr
Stock P/E
19.9
P/B
0.73
Dividend yield
3.7%
ROE (FY26)
3.2%
ROCE (FY26)
4.4%
Operating margin (FY26)
0.9%

Full years shown; sign in free for the trailing twelve months. Learn about these metrics →

Price & valuation

Share price and valuation multiples (P/E, P/B and more) over time.

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What you need to know

Munjal Showa is an auto components maker that produces struts, shock absorbers, front forks, and gas springs and window balancers at its works in Gurugram, Haryana, in collaboration with Astemo Limited (formerly Hitachi Astemo Limited).

Company snapshot

81stBy market cap

Ranked among 94 companies in Auto Components & Equipments.

What we see

Positives
  • ✓Interest coverage of 91.5x — earnings comfortably cover interest obligations.
Concerns
  • ✗Net margin is very thin at 1.7% — little room for error if costs rise.
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Statement tables · Standalone

Switches quarterly, P&L, balance sheet, and cash flow. Key metrics and ratios stay on consolidated when available.

Standalone only

Amounts in ₹ Cr · tap + to expand rows

Quarterly results

Quarterly · ₹ Cr · tap + rows to expand

MetricSept 2023Dec 2023Mar 2024Jun 2024Sept 2024Dec 2024Mar 2025Jun 2025Sept 2025Dec 2025Mar 2026Jun 2026
Sales287 Cr303 Cr294 Cr311 Cr318 Cr319 Cr303 Cr286 Cr333 Cr350 Cr347 Cr347 Cr
Operating expenses (approx.)289 Cr300 Cr288 Cr304 Cr323 Cr311 Cr296 Cr284 Cr329 Cr337 Cr347 Cr345 Cr
EBITDA-2 Cr3 Cr7 Cr7 Cr-5 Cr8 Cr7 Cr2 Cr3 Cr12 Cr-0.02 Cr2 Cr
OPM %-0.6%1.1%2.3%2.3%-1.6%2.4%2.4%0.5%0.9%3.5%-0.0%0.7%
Other income7 Cr10 Cr6 Cr9 Cr9 Cr3 Cr9 Cr11 Cr3 Cr7 Cr4 Cr13 Cr
Interest0.0009 Cr0.0032 Cr0.0035 Cr0.0030 Cr0.0066 Cr0.0008 Cr0.0069 Cr0.0047 Cr0.0036 Cr0.0032 Cr0.12 Cr0 Cr
Depreciation3 Cr3 Cr3 Cr3 Cr3 Cr3 Cr3 Cr3 Cr3 Cr3 Cr3 Cr3 Cr
Profit before tax1 Cr10 Cr10 Cr13 Cr0.86 Cr8 Cr13 Cr10 Cr4 Cr15 Cr0.94 Cr13 Cr
Tax %-33.2%14.4%20.3%11.3%-138.2%25.7%30.4%16.2%30.9%26.3%104.8%12.8%
Net profit2 Cr9 Cr8 Cr12 Cr2 Cr6 Cr9 Cr8 Cr3 Cr11 Cr-0.05 Cr11 Cr
EPS (₹)₹0.39₹2.16₹1.96₹2.98₹0.51₹1.49₹2.23₹2.07₹0.68₹2.73₹-0.01₹2.81

Profit & loss (annual)

Annual · last column is TTM · ₹ Cr · tap + to expand

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales1,591 Cr1,615 Cr1,669 Cr1,288 Cr1,085 Cr1,060 Cr1,241 Cr1,173 Cr1,250 Cr1,315 CrSign in free for the trailing twelve months
Operating expenses (approx.)1,491 Cr1,502 Cr1,581 Cr1,234 Cr1,061 Cr1,052 Cr1,210 Cr1,157 Cr1,234 Cr1,292 CrSign in free for the trailing twelve months
EBITDA99 Cr113 Cr88 Cr55 Cr24 Cr8 Cr30 Cr15 Cr17 Cr23 CrSign in free for the trailing twelve months
OPM %6.3%7.0%5.3%4.2%2.2%0.8%2.4%1.3%1.4%1.7%Sign in free for the trailing twelve months
Other income18 Cr21 Cr23 Cr25 Cr24 Cr18 Cr20 Cr34 Cr30 Cr20 CrSign in free for the trailing twelve months
Interest0.05 Cr0.15 Cr0.10 Cr0.43 Cr0.15 Cr0.06 Cr0.05 Cr0.01 Cr0.02 Cr0.14 CrSign in free for the trailing twelve months
Depreciation29 Cr28 Cr26 Cr20 Cr16 Cr12 Cr12 Cr12 Cr12 Cr11 CrSign in free for the trailing twelve months
Profit before tax88 Cr105 Cr86 Cr58 Cr31 Cr14 Cr35 Cr36 Cr35 Cr30 CrSign in free for the trailing twelve months
Tax %31.0%26.5%26.8%27.2%16.9%12.4%28.7%15.2%17.9%26.1%Sign in free for the trailing twelve months
Net profit61 Cr78 Cr63 Cr43 Cr26 Cr12 Cr25 Cr31 Cr29 Cr22 CrSign in free for the trailing twelve months
EPS (₹)₹15.18₹19.38₹15.65₹10.64₹6.54₹3.04₹7.98₹1.96₹7.22₹5.47Sign in free for the trailing twelve months
Dividend payout %————68.7%148.2%71.9%58.6%62.3%82.4%Sign in free for the trailing twelve months
Sign in free for the trailing twelve months

The latest four quarters added up, next to each full year

Balance sheet

Annual · ₹ Cr · tap + rows to expand

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity capital8 Cr8 Cr8 Cr8 Cr8 Cr8 Cr8 Cr8 Cr8 Cr8 Cr
Reserves505 Cr562 Cr603 Cr625 Cr633 Cr629 Cr643 Cr656 Cr666 Cr670 Cr
Borrowings——————————
Other liabilities163 Cr224 Cr181 Cr129 Cr160 Cr148 Cr159 Cr146 Cr154 Cr187 Cr
Total liabilities676 Cr793 Cr791 Cr761 Cr801 Cr786 Cr811 Cr811 Cr828 Cr865 Cr
Fixed assets (net)177 Cr157 Cr141 Cr143 Cr133 Cr124 Cr127 Cr121 Cr116 Cr111 Cr
CWIP3 Cr0.75 Cr3 Cr2 Cr0.99 Cr5 Cr2 Cr0 Cr0.54 Cr0.45 Cr
Investments171 Cr244 Cr243 Cr319 Cr292 Cr307 Cr313 Cr322 Cr349 Cr347 Cr
Loans & advances——2 Cr2 Cr6 Cr9 Cr10 Cr3 Cr4 Cr3 Cr
Inventories62 Cr63 Cr80 Cr73 Cr88 Cr73 Cr73 Cr73 Cr77 Cr83 Cr
Trade receivables194 Cr245 Cr199 Cr140 Cr196 Cr170 Cr193 Cr183 Cr168 Cr235 Cr
Cash & bank6 Cr19 Cr42 Cr3 Cr10 Cr17 Cr5 Cr17 Cr26 Cr0.98 Cr
Other assets64 Cr65 Cr81 Cr80 Cr75 Cr81 Cr87 Cr91 Cr87 Cr85 Cr
Total assets676 Cr793 Cr791 Cr761 Cr801 Cr786 Cr811 Cr811 Cr828 Cr865 Cr

Cash flows

Annual · ₹ Cr · tap + rows to expand · last column includes FCF

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from operating activity83 Cr96 Cr41 Cr66 Cr-14 Cr30 Cr33 Cr11 Cr37 Cr-21 Cr
Cash from investing-79 Cr-63 Cr3 Cr-82 Cr39 Cr-5 Cr0.16 Cr19 Cr-10 Cr14 Cr
Cash from financing-0.05 Cr-19 Cr-22 Cr-22 Cr-18 Cr-18 Cr-18 Cr-18 Cr-18 Cr-18 Cr
Net cash flow4 Cr14 Cr23 Cr-39 Cr7 Cr7 Cr15 Cr12 Cr9 Cr-25 Cr
Free cash flow (OCF − Capex)75 Cr90 Cr27 Cr45 Cr-19 Cr22 Cr21 Cr11 Cr30 Cr-27 Cr

Ratios

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROCE %17.2%18.5%14.0%9.3%4.9%2.2%5.4%5.5%5.2%4.4%
ROE %11.8%13.6%10.3%6.7%4.1%1.9%3.8%4.6%4.3%3.2%
Debtor days44554340665957574965
Inventory days21202328403227292930
Days payable46584239575148474555
Cash conversion cycle19172529494036403339
OCF / EBITDA %83.9%85.1%46.5%120.1%n.m.n.m.n.m.n.m.n.m.n.m.
OCF / EBITDA % (3 years)——73.4%79.3%55.8%n.m.n.m.n.m.n.m.n.m.
Debt / equity———0.00——0.000.00——
Current ratio2.782.623.024.003.683.763.764.154.253.72
Net debt / EBITDA-0.06-0.17-0.47-0.06-0.43-2.04-0.18-1.12-1.54-0.04