Munjal Auto Industries Ltd
MUNJALAUMunjal Auto Industries Ltd is printing record margins on a fuller multiple. From here the earnings must do all the lifting.
Biggest watch item: margins are the best this company has ever printed — every ratio flatters at record profitability, so the whole story leans on margins holding.
The price is in a confirmed uptrend (7 weeks in) while the P/E sits at the 87th percentile of its own 7-year range. Underneath, the last four quarters read deteriorating — profit −112.3% year on year, and 160% of the last 3 years' profit arrived as cash. What settles it: the next one or two quarters of delivery.
Price story Before the numbers, the tape. A stock price moves through four repeating seasons: a flat base (stage 1), an advance (2), a top (3), a decline (4). Where the price sits in that cycle frames everything below.
Munjal Auto Industries Ltd trades at ₹104, in a confirmed uptrend and 7 weeks into that stage. That is +19.4% against its own 200-day average. It sits at 96% of a 52-week range of ₹70 to ₹105. On relative strength it has been ahead of the NIFTY 500 on a trailing-13-week view for 23 straight weeks.
Today the stock is in a confirmed uptrend — week 7 of stage 2, confirmed. At ₹104 it trades +19.4% versus its 200-day average and sits at 96% of its 52-week range (₹70–₹105).
Against the market, two honest reads. Cumulative: over the last 10.3 years the stock moved +169% while the NIFTY 500 moved +274% — behind the index over the full window. Recent form: on a trailing-13-week view the stock has been ahead for 23 straight weeks — the ribbon below is that same metric, week by week.
What would end the trend, mechanically: two Friday closes in a row below the 200-day line. That is the exit rule — no debates.
→ The trend is one thing; the bill is another. Are you paying up for it? Next: the P/E sits at the 87th percentile of its own range.
Valuation P/E is the price of ₹1 of annual profit: how many rupees the market pays for each rupee the company earns in a year.
Munjal Auto Industries Ltd trades at 28.2× P/E, at the pricey end of its own range (87th percentile). Its long-run median P/E is 17.8×, measured across 7.2 years of weekly readings. This places the multiple against the stock’s own record, and says nothing about what the business is worth.
Today's P/E of 28.2× is at the pricey end of its own range (87th percentile), against a long-run median of 17.8× measured over 7.2 years of weekly readings. This is a comparison against the stock's own history — not a claim about what it is worth.
Why the multiple sits where it does: over the past year annual EPS moved +10.4% against a +31.2% price move — the price outran earnings, pushing the multiple UP its own range.
The price move, decomposed: over 5y, of the +8.8%/yr price move, ~+11.4%/yr came from earnings growth and ~−2.6 pp from the multiple (compressing). The split is the honest approximate (price return minus earnings growth); it makes the rally itself visible instead of hiding it behind the percentile.
Put together: the multiple is full against its own past, so the story rests on the earnings line underneath it, not the multiple.
A quarterly PEG curve, which only the second data source carries, is not drawn on this page: its two data sources do not share enough overlapping reported history to be compared. A figure nobody could check is not used to price growth — the gap is a decision, not missing data.
→ Cheap or dear rides on the earnings. Are they actually growing? Next: the fundamental stage — where the business sits in its arc, and how growth has compounded.
Stage: No read Every business sits somewhere on a fundamental arc, and this page names the spot before anything else. The last twelve quarters of revenue, profit and EPS growth — plus the return the business earns on its capital — are read as curves: Deteriorating (the curves are falling), Turning around (a trough has just formed and the last few quarters lift off it), Improving (the climb off the trough is sustained), Consistent (steadily positive with healthy returns), Topping out (still high but decelerating from the peak). When the curves genuinely disagree the read is Mixed; too little history is No read. CAGR (compound annual growth rate) is the smooth yearly pace that turns the starting value into the latest one — the fairest way to compare growth across different time spans. Read the columns together: if the 1-year number towers over the 10-year, recent growth is running hotter than the long-run trend. A dash means that window is not held, or the base year was a loss (where a growth rate is not meaningful).
Munjal Auto Industries Ltd reads as no read on its fundamental arc. Under eight usable quarters on the growth trio — not enough history for an honest trajectory read. The read is built from 10 quarters across 2 curves, on partial evidence.
Why it matters: with too little history, an honest page says so instead of guessing a trajectory.
Return readings here are annual, not quarterly — read as level and direction only; they can confirm the growth curves but never drive the stage on their own.
Fewer than eight usable quarters on the growth curves — this page will not guess a trajectory from a stub of history.
| 1yr | 3yr | 5yr | 10yr | |
|---|---|---|---|---|
| Revenue | +11.1% | +5.0% | +1.6% | — |
| Profit | +17.9% | −4.0% | +18.1% | — |
| EPS | +10.4% | −10.5% | +14.3% | — |
| Share price | +31.2% | +23.5% | +8.8% | +9.9% |
→ The stage names the trajectory. Next: the revenue line that produces it, quarter by quarter.
4-Factor Sector Score
34.3/100 — rank 18 of 20 in Auto Ancillaries - Diversified · 77% evidence confidence
Munjal Auto Industries Ltd scores 34.3 out of 100 against the 20 companies it is compared with in Auto Ancillaries - Diversified, ranking 18. Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
The four contributions add to the total exactly: 11.2 + 5.1 + 9 + 9 = 34.3. This is the SAME number shown on the sector comparison — it is computed once, for the whole peer set, and read here.
What would change it: The read weakens if profit growth turns negative or margin improvement reverses while sector-relative strength deteriorates.
Revenue Revenue is the top line: everything the company billed its customers in the period.
Munjal Auto Industries Ltd reported ₹614 Cr of revenue in the Mar 26 quarter, +20.0% year on year. That is the 3rd straight quarter of year-on-year growth. Over 7 years it has compounded at 9.5% a year. The last full year, FY26, came in at ₹2,295 Cr. The last four reported quarters add to ₹2,295 Cr.
Munjal Auto Industries Ltd reported ₹614 Cr of revenue in the Mar 26 quarter, +20.0% year on year. That is the 3rd straight quarter of year-on-year growth. Over 7 years it has compounded at 9.5% a year. The last full year, FY26, came in at ₹2,295 Cr. The last four reported quarters add to ₹2,295 Cr.
FY26 revenue came in at ₹2,295 Cr (+11.1% on the year), capping 7 years at 9.5% compound. The latest quarter (Mar 26) printed ₹614 Cr, +20.0% year on year — the 3rd consecutive quarter of year-over-year growth.
Pace check: the last four quarters averaged +11.0% growth against the decade's 9.5% — the current year is running faster than its own long-run rate.
Acceleration check: trailing-twelve-month revenue grew +11.1% over the last 4 quarters against +10.4%/yr over the last 8 — stabilising; TTM profit +18.2% vs +10.1%/yr — accelerating.
→ Revenue grew — did margins hold as it scaled? Next: 3.0% this quarter (−3.7 pp YoY).
Operating margin Operating margin is what is left of every ₹100 of sales after running the business, before interest and tax. It is the cleanest read on pricing power and cost control.
Munjal Auto Industries Ltd's operating margin is 3.0% in the Mar 26 quarter, −3.7 percentage points against the same quarter a year ago. That is the widest this company has ever printed on a full-year basis. Across 8 fiscal years the operating margin has ranged 4.0% to 6.0%. The current quarter is running below every full year in that window.
Munjal Auto Industries Ltd's operating margin is 3.0% in the Mar 26 quarter, −3.7 percentage points against the same quarter a year ago. That is the widest this company has ever printed on a full-year basis. Across 8 fiscal years the operating margin has ranged 4.0% to 6.0%. The current quarter is running below every full year in that window.
The latest quarter's operating margin is 3.0%, −3.7 pp against the same quarter a year ago. Across 8 fiscal years the operating margin has ranged 4.0%–6.0%, and FY26's 6.0% is the top of that band — a record year.
🚨 Why the margin moved: operating margin went −3.7 pp year on year while gross margin went −2.8 pp — the loss came mostly from the gross line: input costs and pricing.
Worth repeating from the valuation section: cheap against its own history on record margins is not the same thing as cheap — a record margin flatters every ratio built on top of it.
→ Margins slipped — did that reach the bottom line? Next: profit −112.3% in the latest quarter.
Net profit Net profit is what survives every cost, interest and tax — the number EPS, dividends and book value all grow from.
Munjal Auto Industries Ltd posted a net loss of ₹1.3 Cr in the Mar 26 quarter. Full-year FY26 profit was ₹46.0 Cr. The 7-year compound rate is 3.2%. That loss is 0.2% of the quarter's revenue. The same quarter a year earlier earned ₹10.3 Cr. 3 of the last 12 reported quarters were loss-making.
Munjal Auto Industries Ltd posted a net loss of ₹1.3 Cr in the Mar 26 quarter. Full-year FY26 profit was ₹46.0 Cr. The 7-year compound rate is 3.2%. That loss is 0.2% of the quarter's revenue. The same quarter a year earlier earned ₹10.3 Cr. 3 of the last 12 reported quarters were loss-making.
Mar 26 profit was ₹−1.3 Cr, −112.3% year on year. On the full year, FY26 printed ₹46.0 Cr (+17.9%), and the 7-year compound rate is 3.2%.
🚨 Why profit moved: revenue contributed +20.0% and the margin −3.7 pp — the quarter was revenue-led despite a thinner margin.
Pace comparison, last four quarters: profit −20.5% vs revenue +11.0%. Profit is growing slower than sales — costs are eating the growth before it reaches the bottom line.
→ Profit rose — but did the cash follow? Next: 160% of the last 3 years' profit arrived as cash.
Cash flow — the router The P&L says what was earned; the cash-flow statement says what actually arrived. Operating cash flow (CFO) against profit is the cleanest lie detector in the accounts.
Over the last 3 fiscal years 160% of Munjal Auto Industries Ltd's reported profit arrived as operating cash — the cash follows the profit. In FY26 that was ₹45.0 Cr of operating cash against ₹46.0 Cr of profit. After ₹81.0 Cr of capital spending, ₹−36.0 Cr was left as free cash.
FY26: operating cash of ₹45.0 Cr against reported profit of ₹46.0 Cr, leaving free cash of ₹−36.0 Cr after ₹81.0 Cr of capital spending. Across the last 3 fiscal years the conversion rate is 160% of profit.
Cash-flow readings here are annual — that is the resolution our series carries, so this section moves once a year.
Why conversion sits at 160%: the cash cycle stretched 20 days between FY21 and FY26 — more of each rupee of profit waits inside the cycle before arriving.
Router verdict: no single sink dominates — the next section checks both the working-capital cycle and the capital spending.
→ So follow the cash to where it goes. Next: a 50-day cycle and ₹230 Cr of building.
Where the cash goes Working capital is the cash tied up between paying suppliers and getting paid: debtor days (customers owe), inventory days (stock waits), and the cash conversion cycle (the whole loop, in days of sales).
Munjal Auto Industries Ltd's cash conversion cycle runs 50 days in FY26, up from 30 days in FY21. Capital spending ran ₹230 Cr over the last 3 years. At FY26 sales of ₹2,295 Cr each day of that cycle holds about ₹6.3 Cr, so roughly ₹314 Cr sits inside the business at any moment.
FY26: debtors at 68 days, inventory at 62 days — roughly 2.0 months of stock waiting to sell; that is where the cash sits while it waits — for a full cycle of 50 days, looser than FY21's 30.
The full loop: cash goes out to suppliers and production on day 0; stock waits 62 days to sell; customers pay about 68 days after that; and suppliers themselves are paid at 80 days — netting out to the 50-day cycle.
In money terms: at FY26 sales of ₹2,295 Cr, each day of the cycle holds about ₹6.3 Cr — so the 50-day loop keeps roughly ₹314 Cr sitting inside the business at any moment.
On the investment side: capital spending of ₹230 Cr over the last 3 fiscal years against ₹180 Cr of depreciation — building somewhat ahead of wear-and-tear. Capital work-in-progress stands at ₹157 Cr (FY26) — capacity paid for but not yet earning.
The synthesis: neither the cycle nor the build-out is hoarding the cash — the machine is reasonably clean.
→ Does all this activity actually earn its cost of capital? Next: ROCE is 11% and the ROIC − WACC spread is −5.8 pp.
Return on capital Return on capital employed (ROCE) is the profit the whole business earns on all the money in it — equity and debt together. It is the single best test of whether growth creates value or just size.⚠ unverified
Munjal Auto Industries Ltd earns a ROCE of 11% in FY26. That is up from a trough of 5% in FY20. Return on invested capital clears the cost of that capital by −5.8 percentage points, so growth here is not yet paying for the capital it uses. The wiring behind it is 2.0% net margin on 1.58× asset turns.
FY26 ROCE is 11%, recovered from a FY20 trough of 5% — the full ladder below shows the fall and the climb, undoctored.
🚨 Why the return is what it is — the wiring (FY26): 2.0% net margin × 1.58× asset turns × 3.25× balance-sheet leverage ≈ 10.3% on equity. Margin does its share; leverage is a meaningful part of the equation.
The capstone test — ROIC − WACC: 6.2% − 12.0% = a −5.8 pp spread. The 12.0% is a standing assumption for the cost of capital in India, not a per-stock estimate — read the sign and the size of the spread, not the decimals. Negative — growth at these returns destroys value until the returns recover.
→ Returns like these — is the balance sheet borrowing to make them? Next: debt-to-equity is 0.94.
Debt Debt-to-equity says how much of the business is funded by borrowings. Low is the safe corner; the trend matters as much as the level.⚠ unverified
Munjal Auto Industries Ltd carries total debt of ₹423 Cr against shareholder equity of ₹467 Cr as of Mar 26, a debt-to-equity of 0.91. On the annual view that ratio went from 0.33 in FY22 to 0.91 in FY26. Read the returns elsewhere on this page with that leverage in mind.
Mar 26: total debt of ₹423 Cr against shareholder equity of ₹467 Cr — a debt-to-equity of 0.91. On the annual view, debt-to-equity went from 0.33 (FY22) to 0.91 (FY26). Read the returns on this page with that leverage in mind.
→ Who owns this, and are they adding or leaving? Next: the register is quiet.
Ownership Who owns the stock, quarter by quarter: promoters (the controlling owners), foreign and domestic institutions, and the public. Steady accumulation by people close to the numbers is a signal; a quiet register is also an answer.
No holder of Munjal Auto Industries Ltd moved a full percentage point over the last two years — the register is quiet. Foreign institutions moved +0.0 points over the same window, to 0.1%. The register is read on the four disclosed classes only; nothing is inferred between filings.
The register over the last two years — Promoters: +0.0 points over 8 quarters to 74.8%; Foreign institutions: +0.0 points over 8 quarters to 0.1%; Domestic institutions: +0.0 points over 8 quarters to 0.0%.
→ One last check: does the safety math agree? Next: the balance-sheet safety line.
Safety line The Z-score estimates how far a company sits from balance-sheet distress — above roughly 3 is safe, below roughly 1.8 is the danger zone. It was built for manufacturers, so it is not applied to banks and lenders.
Munjal Auto Industries Ltd: the Z-score is not available for this stock, so we say so rather than invent one. It is a distance-to-distress estimate from the balance sheet, not a forecast of failure. The debt, cash-flow and return sections above carry the balance-sheet evidence this page does hold, and each of them states its own reporting date.
The safety line in one sentence: the Z-score is not available for this stock, so we say so rather than invent one.
| Company | P/E | Mkt cap | Revenue | EPS | ROCE | Stage |
|---|---|---|---|---|---|---|
| Munjal Auto Industries Ltd this page | 28.2× | ₹998 Cr | No read | |||
| Samvardhana Motherson International Ltd | 36.0× | ₹1.5L Cr | Turning around | |||
| Bosch Ltd | 59.0× | ₹1.2L Cr | Mixed | |||
| Endurance Technologies Ltd | 39.7× | ₹37,051 Cr | Consistent | |||
| Motherson Sumi Wiring India Ltd | 42.6× | ₹26,600 Cr | Mixed | |||
| ZF Commercial Vehicle Control System India Ltd | 52.3× | ₹26,410 Cr | Topping out | |||
| Sansera Engineering Ltd | 59.1× | ₹19,874 Cr | Mixed | |||
| Minda Corporation Ltd | 44.8× | ₹16,173 Cr | Mixed | |||
| Lumax Auto Technologies Ltd | 34.7× | ₹9,991 Cr | Consistent | |||
| Varroc Engineering Ltd | 38.7× | ₹9,820 Cr | Turning around | |||
| S J S Enterprises Ltd | 44.0× | ₹7,475 Cr | Consistent | |||
| Suprajit Engineering Ltd | 35.5× | ₹6,646 Cr | Turning around | |||
| Sharda Motor Industries Ltd | 14.3× | ₹4,744 Cr | Mixed | |||
| Carraro India Ltd | 22.1× | ₹3,036 Cr | No read | |||
| NDR Auto Components Ltd | 30.9× | ₹1,933 Cr | Mixed | |||
| Jay Bharat Maruti Ltd | 12.5× | ₹1,747 Cr | No read | |||
| OBSC Perfection Ltd | 56.0× | ₹1,512 Cr | No read | |||
| Automobile Corporation Of Goa Ltd | 18.7× | ₹1,353 Cr | Turning around | |||
| Precision Camshafts Ltd | 53.4× | ₹1,317 Cr | Mixed | |||
| Automobile Corporation Of Goa Ltd | 15.1× | ₹1,027 Cr | Turning around | |||
| Mercury EV-Tech Ltd | 160.0× | ₹667 Cr | Deteriorating |
Frequently asked questions
What is Munjal Auto Industries Ltd's share price today?
Munjal Auto Industries Ltd trades at ₹104, +31.2% over the past year. The company is valued at ₹998 Cr. The stock sits at 96% of its 52-week range of ₹70–₹105, +19.4% versus its 200-day average. On the tape, the price is in a confirmed uptrend, 7 weeks in. — as of 24 July 2026.
What were Munjal Auto Industries Ltd's latest quarterly results?
Munjal Auto Industries Ltd reported revenue of ₹614 Cr and a net loss of ₹1.3 Cr for the Mar 26 quarter. Revenue rose 20.0% and profit fell 112.3% year on year. Earnings per share were ₹−0.03. The operating margin was 3.0%, 3.7 pp lower than a year earlier. — as of 24 July 2026.
What is Munjal Auto Industries Ltd's revenue?
Munjal Auto Industries Ltd reported revenue of ₹614 Cr in the Mar 26 quarter, +20.0% year on year. For the full FY26 fiscal year, revenue was ₹2,295 Cr (+11.1%). Over the last 7 years revenue compounded at 9.5% a year. — as of 24 July 2026.
What is Munjal Auto Industries Ltd's profit?
Munjal Auto Industries Ltd earned ₹−1.3 Cr of net profit in the Mar 26 quarter, −112.3% year on year. Full-year FY26 profit was ₹46.0 Cr. The operating margin ran 3.0% in the latest quarter. — as of 24 July 2026.
What is Munjal Auto Industries Ltd's market cap?
Munjal Auto Industries Ltd's market capitalisation is ₹998 Cr at a share price of ₹104. Market cap is the share price multiplied by shares outstanding, so it is restated whenever the price moves. — as of 24 July 2026.
What is Munjal Auto Industries Ltd's P/E ratio?
Munjal Auto Industries Ltd trades at a P/E of 28.2×, at the 87th percentile of its own 7-year range, against a long-run median of 17.8×. This is a comparison with the stock's own history, not a value call — as of 24 July 2026.
Does Munjal Auto Industries Ltd pay a dividend?
Not in its latest year — Munjal Auto Industries Ltd's dividend payout was 0% of profit in FY26. It did record a payout in 5 of its last 8 reported fiscal years, so there is a history but no current dividend. — as of 24 July 2026.
Is Munjal Auto Industries Ltd overvalued?
On its own history, Munjal Auto Industries Ltd looks expensive against its own history: its P/E of 28.2× sits at the 87th percentile of its 7-year range (long-run median 17.8×). That is a percentile read against the stock's own past, not a price opinion or a direction call. One caveat: margins are the best this company has ever printed — cheap on record margins is not the same thing as cheap. — as of 24 July 2026.
Is Munjal Auto Industries Ltd growing?
Not right now — Munjal Auto Industries Ltd's latest numbers are shrinking: latest-quarter revenue +20.0% year on year, profit −112.3%, and the margin −3.7 pp at 3.0%. The 7-year compound rates are 9.5% (revenue) and 3.2% (profit). The earnings engine currently reads: deteriorating — as of 24 July 2026.
How is Munjal Auto Industries Ltd performing?
Munjal Auto Industries Ltd is in a confirmed uptrend, 7 weeks in. Its latest quarter's revenue rose 20.0% and profit fell 112.3% year on year. Against the NIFTY 500 it has been ahead on a trailing-13-week view for 23 weeks. This describes what the data did, not a rating. — as of 24 July 2026.
Is Munjal Auto Industries Ltd in an uptrend?
Yes — the price is in a confirmed uptrend (week 7 of stage 2), trading +19.4% versus its 200-day average and at 96% of its 52-week range. Price stages cycle base → advance → top → decline, and the stage names where this stock sits in that cycle — as of 24 July 2026.
Is Munjal Auto Industries Ltd beating the market?
On recent form, yes — Munjal Auto Industries Ltd has been ahead of the NIFTY 500 on a trailing-13-week view for 23 straight weeks, the same metric the week-by-week ribbon on this page draws. Separately, on the cumulative view: over the last 10.3 years the stock moved +169% against the NIFTY 500's +274% — behind the index over the full window. — as of 24 July 2026.
Will Munjal Auto Industries Ltd's share price go up?
This page publishes no price forecast for Munjal Auto Industries Ltd. What it measures instead: the share price is ₹104, the price is in a confirmed uptrend 7 weeks in. Its P/E of 28.2× sits at the 87th percentile of its own 7-year range. — as of 24 July 2026.
Who owns Munjal Auto Industries Ltd?
Promoters hold 74.8% of Munjal Auto Industries Ltd, foreign institutions 0.1%, domestic institutions 0.0% and the public 25.1% (latest quarter). No holder moved a full point over the last two years — the register is quiet. — as of 24 July 2026.
Does Munjal Auto Industries Ltd have too much debt?
It is moderate — Munjal Auto Industries Ltd's debt-to-equity is 0.94, and operating profit covers the interest bill 3×. FY26 borrowings were ₹423 Cr against equity of ₹448 Cr. Read the returns on this page with that leverage in mind — as of 24 July 2026.
What is Munjal Auto Industries Ltd's capex?
Munjal Auto Industries Ltd spent ₹230 Cr on capital expenditure over the last 3 fiscal years, a figure derived from the change in fixed assets plus depreciation. In FY26 alone that was ₹81.0 Cr, with ₹157 Cr in capital work-in-progress — capacity paid for but not yet earning. — as of 24 July 2026.
What is Munjal Auto Industries Ltd's cash flow?
Munjal Auto Industries Ltd generated ₹45.0 Cr of operating cash flow in FY26 and ₹−36.0 Cr of free cash flow after ₹81.0 Cr of capital spending. Reported profit that year was ₹46.0 Cr, so operating cash ran behind profit. Cash-flow resolution for India is annual. — as of 24 July 2026.
Is Munjal Auto Industries Ltd's profit real cash?
Yes — over the last 3 fiscal years, 160% of Munjal Auto Industries Ltd's reported profit arrived as operating cash. In FY26, operating cash was ₹45.0 Cr against reported profit of ₹46.0 Cr. The cash then goes into a mix of the working-capital cycle and capacity. Cash-flow resolution is annual — as of 24 July 2026.
Where is Munjal Auto Industries Ltd in its business cycle?
Munjal Auto Industries Ltd's FY26 operating margin was 6.0%, against a 8-year band of 4.0%–6.0%: the top of the band — a record year. Record profitability is late-cycle territory: every ratio flatters at the top, and the story leans on margins holding. The latest quarter ran 3.0%. Profitability versus a company's own long band is the cleanest cycle clock this page holds — as of 24 July 2026.
What could break the Munjal Auto Industries Ltd story?
Biggest watch item: margins are the best this company has ever printed — every ratio flatters at record profitability, so the whole story leans on margins holding. Mechanically, two Friday closes in a row below the 200-day average would end the price trend — that is the exit rule this page tracks — as of 24 July 2026.
Is Munjal Auto Industries Ltd a stock worth studying right now?
This is not investment advice. The machine read: Munjal Auto Industries Ltd is printing record margins on a fuller multiple. From here the earnings must do all the lifting. The sharpest open question: the next one or two quarters of delivery. Every number on this page is drawn deterministically from the raw series, with no forecasts and no price opinions — as of 24 July 2026.