Munjal Showa Limited (IN:MUNJALSHOW)
:MUNJALSHOW
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Munjal Showa Limited
(MUNJALSHOW)
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Rating:63Neutral
Price Target:
₹147.00
▲(17.22% Upside)
Action:Reiterated
Date:05/31/26
The score is led by a very strong, low-risk balance sheet (no debt) but held back by inconsistent earnings quality and a sharp deterioration in cash flows (negative OCF/FCF in FY2026). Technicals are supportive with price above major moving averages, and valuation is reasonable with a solid dividend yield, together providing partial offset to the cash-flow risk.
Positive Factors
Balance sheet strength
Zero reported debt and stable-to-growing equity materially reduce financial risk and preserve strategic optionality. A debt-free structure supports capital allocation flexibility for capex, tooling or dividends, lowers bankruptcy risk in downturns and sustains supplier/customer confidence over the medium term.
Negative Factors
Weak cash generation
Negative OCF and FCF in FY2026 after prior positive years signals unstable cash conversion and potential working-capital or capex pressure. Persistent cash volatility can constrain reinvestment, dividend sustainability, and leave the firm exposed if revenue or margin headwinds persist.
Read all positive and negative factors
Positive Factors
Negative Factors
Balance sheet strength
Zero reported debt and stable-to-growing equity materially reduce financial risk and preserve strategic optionality. A debt-free structure supports capital allocation flexibility for capex, tooling or dividends, lowers bankruptcy risk in downturns and sustains supplier/customer confidence over the medium term.
Read all positive factors
Munjal Showa Limited (MUNJALSHOW) vs. iShares MSCI India ETF (INDA)
Market Cap
₹5.54B
Dividend Yield3.69%
Average Volume (3M)2.42K
Price to Earnings (P/E)18.0
Beta (1Y)0.97
Revenue Growth5.20%
EPS Growth-24.22%
CountryIN
Employees2,179
SectorConsumer Cyclical
Sector Strength84
IndustryAuto - Parts
Share Statistics
EPS (TTM)6.46
Shares Outstanding39,995,000
10 Day Avg. Volume3,899
30 Day Avg. Volume2,416
Financial Highlights & Ratios
PEG Ratio-0.76
Price to Book (P/B)0.84
Price to Sales (P/S)1.68
P/FCF Ratio-13.37
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Munjal Showa Limited Business Overview & Revenue Model
Company Description
Munjal Showa Limited manufactures and sells auto components for the two-wheeler and four-wheeler industry primarily in India. Its products comprise front forks, rear cushions, shock absorbers, struts, gas springs, rear door lifters, and window bal...
How the Company Makes Money
The company makes money primarily by manufacturing and selling suspension and damping components—most notably shock absorbers/struts and related parts. Its key revenue streams are: (1) OEM supplies: selling components directly to automobile and tw...
Munjal Showa Limited Financial Statement Overview
Summary
Income Statement
62
Positive
Balance Sheet
86
Very Positive
Cash Flow
34
Negative
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 12.41B | 13.15B | 12.50B | 11.73B | 12.41B | 10.60B |
| Gross Profit | 2.11B | 1.60B | 1.48B | 2.56B | 2.19B | 439.55M |
| EBITDA | 459.14M | 229.52M | 471.72M | 487.95M | 541.50M | 265.46M |
| Net Income | 259.02M | 218.72M | 288.70M | 307.66M | 319.03M | 121.50M |
Balance Sheet | ||||||
| Total Assets | 8.45B | 8.65B | 8.28B | 8.11B | 8.11B | 7.86B |
| Cash, Cash Equivalents and Short-Term Investments | 3.01B | 3.20B | 3.47B | 2.82B | 2.66B | 2.60B |
| Total Debt | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Total Liabilities | 1.78B | 1.87B | 1.54B | 1.46B | 1.59B | 1.48B |
| Stockholders Equity | 6.67B | 6.78B | 6.74B | 6.64B | 6.51B | 6.37B |
Cash Flow | ||||||
| Free Cash Flow | -418.60M | -193.99M | 351.79M | 71.87M | -58.35M | 224.25M |
| Operating Cash Flow | -393.93M | -128.34M | 419.84M | 114.19M | 64.38M | 299.40M |
| Investing Cash Flow | 355.94M | 58.21M | -153.68M | 186.78M | 1.59M | -52.61M |
| Financing Cash Flow | -179.16M | -180.18M | -179.86M | -180.35M | -180.77M | -180.64M |
Munjal Showa Limited Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
75 Outperform | ₹51.23B | 26.25 | ― | 1.63% | 15.04% | 28.14% | |
75 Outperform | ₹158.08B | 62.74 | ― | 0.46% | 14.85% | 2.94% | |
68 Neutral | ₹48.22B | 15.14 | ― | 1.07% | 19.29% | 5.17% | |
64 Neutral | ₹383.14B | 40.25 | ― | 0.38% | 26.25% | 13.79% | |
63 Neutral | ₹5.54B | 17.96 | ― | 3.69% | 5.20% | -24.22% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
61 Neutral | ₹25.11B | 23.40 | ― | 1.07% | 56.14% | 600.44% |
* Consumer Cyclical Sector Average
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Munjal Showa Limited Corporate Events
Munjal Showa to Appeal INR 37.35 Lakh Income Tax Penalty Order
Apr 13, 2026
Munjal Showa Limited has disclosed that it received a demand notice and penalty order from the Income Tax Department relating to assessment year 2015-16, determining a total penalty of INR 37.35 lakh. The penalty arises from disallowance of excess...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.