Menon Bearings Ltd - Stock Valuation and Financial Performance

BSE: 523828 | NSE: MENONBE | Bearings | Small Cap

Menon Bearings Share Price

112 -0.20 -0.18%
as on 28-Mar'24 16:01

DeciZen - make an informed investing decision on Menon Bearings

Overall Rating
Bole Toh

1. Quality

2. Valuation

Fair

3. Price Trend

Menon Bearings stock performance -

mw4me loader
P/E Ratio (SA):
22.12
Market Cap:
628.2 Cr.
52-wk low:
93.4
52-wk high:
166

Is Menon Bearings Ltd an attractive stock to invest in?

1. Is Menon Bearings Ltd a good quality company?

Past 10 year's financial track record analysis by Moneyworks4me indicates that Menon Bearings Ltd is a good quality company.

2. Is Menon Bearings Ltd undervalued or overvalued?

The key valuation ratios of Menon Bearings Ltd's currently when compared to its past seem to suggest it is in the Fair zone.

3. Is Menon Bearings Ltd a good buy now?

The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of Menon Bearings Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.

10 Year X-Ray of Menon Bearings:

Analysis of Financial Track Record

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Menon Bearings Ltd has performed well in majority of the past ten years indicating its past ten year financial track record is very good

Value Creation

Value Creation Index Colour Code Guide

Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
ROCE % 13.5%23.1%25.9%26.9%24.2%23.3%13.4%16.6%19.9%24.5%-
Value Creation
Index
0.00.70.90.90.70.70.00.20.40.8-

Growth Parameters

Growth Parameters Colour Code Guide

Sales 86.8103111124146174139149198219208
Sales YoY Gr.-18.9%7.9%11%17.8%19.4%-20.1%7.5%32.1%11.1%-
Adj EPS 1.12.12.73.53.84.52.63.34.45.85.1
YoY Gr.-89.9%28.5%29.7%10.7%18.6%-43.1%28.3%31.7%33.7%-
BVPS (₹) 6.47.69.211.413.816.215.717.62023.825
Adj Net
Profit
6.111.614.919.321.425.414.418.624.432.728
Cash Flow from Ops. 10.57.64.819.922.825.530.524.224.250.1-
Debt/CF from Ops. 1.92.22.61.11.11.81.31.210.3-

CAGR

CAGR Colour Code Guide

9 Years 5 Years 3 Years 1 Years
Sales 10.9%8.5%16.4%11.1%
Adj EPS 20.5%8.8%31.2%33.7%
BVPS15.8%11.6%14.8%19.2%
Share Price 34.4% 6.2% 27.7% 17.9%

Key Financial Parameters

Performance Ratio Colour Code Guide

Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
Return on
Equity %
17.729.531.533.330.330.316.119.923.226.620.8
Op. Profit
Mgn %
17.72226.127.125.824.821.423.421.424.121.8
Net Profit
Mgn %
711.313.415.614.714.610.412.412.414.913.7
Debt to
Equity
0.60.40.20.30.30.50.40.30.20.1-
Working Cap
Days
11110210812412512115314813012577
Cash Conv.
Cycle
716473868482108103949251

Recent Performance Summary

Sales growth is growing at healthy rate in last 3 years 16.40%

Net Profit is growing at healthy rate in last 3 years 31.22%

Return on Equity has declined versus last 3 years average to 20.80%

Sales growth is not so good in last 4 quarters at -2.67%

Latest Financials - Menon Bearings Ltd.

Standalone Consolidated
TTM EPS (₹) 5.1 5
TTM Sales (₹ Cr.) 208 211
BVPS (₹.) 25 24.9
Reserves (₹ Cr.) 134 134
P/BV 4.48 4.51
PE 22.12 22.56
From the Market
52 Week Low / High (₹) 93.36 / 166.00
All Time Low / High (₹) 0.30 / 166.00
Market Cap (₹ Cr.) 628
Equity (₹ Cr.) 5.6
Face Value (₹) 1
Industry PE 41.9

Management X-Ray of Menon Bearings:

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *9.525.765.765.765.765.765.765.855.855.85
* Pledged shares as % of Promoter's holding (%)

Event Update

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Analyst's Notes

Key Ratios of Menon Bearings

Adj EPS (Rs.)

Sales (Cr.)

ROE (%)

ROCE (%)

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Sales87103111124146174139149198219
Operating Expenses 71818290108131109115155166
Manufacturing Costs23252830344136384751
Material Costs33393842536245538388
Employee Cost 7889111413121414
Other Costs 8889101416121213
Operating Profit 15232933384330354253
Operating Profit Margin (%) 17.7%21.8%26.0%27.0%25.8%24.8%21.4%23.2%21.4%24.1%
Other Income 1111111101
Interest 2221245433
Depreciation 5455457788
Exceptional Items 0000000000
Profit Before Tax 9172328333620253243
Tax 3588111156810
Profit After Tax 6121519212514192533
PAT Margin (%) 7.1%11.2%13.4%15.6%14.7%14.6%10.4%12.7%12.4%14.9%
Adjusted EPS (₹)1.12.12.73.43.84.52.63.44.45.8
Dividend Payout Ratio (%)45%32%31%29%39%33%97%44%46%34%

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23

Equity and Liabilities

Shareholders Fund 3643526477918899112133
Share Capital 5556666666
Reserves 3138475971858393106128
Minority Interest0000000000
Debt20171221254638292315
Long Term Debt6424527211376
Short Term Debt1413101820181816179
Trade Payables767811109131313
Others Liabilities 111299131213141521
Total Liabilities 747880103126158149155163182

Fixed Assets

Gross Block74767987100113136151155160
Accumulated Depreciation36404449525764717684
Net Fixed Assets38363537485672807976
CWIP 101451910108
Investments 00000301010
Inventories9101112151616162122
Trade Receivables18212529353936445150
Cash Equivalents 795171919118913
Others Assets2323555443
Total Assets 747880103126158149155163182

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Cash Flow From Operating Activity 108520232630242450
PBT 6121528333620253243
Adjustment 20-1-4-6-46420
Changes in Working Capital 3-4-9-4-3-75-5-108
Tax Paid 0000000000
Cash Flow From Investing Activity -4-2-4-9-15-30-10-6-3-23
Capex -6-2-4-7-15-13-23-16-6-6
Net Investments 000000001-10
Others 200-20-171392-8
Cash Flow From Financing Activity -6-3-41-75-29-21-20-23
Net Proceeds from Shares 0000000000
Net Proceeds from Borrowing -3-2-22122-7-8-6-1
Interest Paid 000-1-2-4-5-4-3-3
Dividend Paid 000-6-7-10-14-8-11-11
Others -3-1-361-4-3-20-8
Net Cash Flow 12-41221-8-314
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Ratios
ROE (%)18.129.531.5833.2430.2630.2416.1420.2923.2926.67
ROCE (%)19.8733.1640.4938.5536.6833.2118.4222.4826.5632.15
Asset Turnover Ratio1.281.461.531.361.281.230.90.981.241.27
PAT to CFO Conversion(x)1.670.670.331.051.11.042.141.260.961.52
Working Capital Days
Receivable Days69636980817998978884
Inventory Days33313235343242393536
Payable Days69646263646079765654

Menon Bearings Ltd Stock News

Menon Bearings Ltd FAQs

Company share prices are keep on changing according to the market conditions. The closing price of Menon Bearings on 28-Mar-2024 16:01 is ₹112.0.
Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 28-Mar-2024 16:01 the market cap of Menon Bearings stood at ₹628.2.
The latest P/E ratio of Menon Bearings as of 28-Mar-2024 16:01 is 22.12.
The latest P/B ratio of Menon Bearings as of 28-Mar-2024 16:01 is 4.48.
The 52-week high of Menon Bearings is ₹166.0 and the 52-week low is ₹93.36.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Menon Bearings is ₹207.9 ( Cr.) .

About Menon Bearings Ltd

Menon Bearings ( MBL), a Menon Group company was  established in 1992 and is one of the few companies in the continent having fully integrated manufacturing facilities under one roof, to produce a wide range of critical auto components like bi-metal engine bearings, Bushes & Thrust Washers for light & heavy automobile engines, two wheeler engines as well as for compressors, refrigerators, air conditioners etc. The company started its commercial production in April 1993.

MBL is listed on the BSE ( Bombay Stock Exchange ) & is globally positioned with business activities spanning 24 countries around the globe. Exporting 35 % of its production capacity, with exports growth at more than 25 % per annum, the engineering capabilities at MBL enjoys strong brand equity among leading OEMs all over the world.

Menon Group is a multi-product, high end critical auto components group with a turnover exceeding Rs 300 crore & globally positioned with business activities spanning 24 countries around the globe exporting 35 % of its production. The Menon Group’s historic commitment to quality and customer service, strong corporate values, disciplined & professional management systems, emphasis on trust in business relations & its ability to meet special needs is recognized the word over.

MBL manufactures a whole range of bi-metal engine bearings, bushes & thrust washers for light medium & heavy automobile engines, 2 wheeler engines as well as for compressors & for refrigerators & air conditioners.

Product range of the company includes:

Bearings

  • Bearings for Connecting Rods
  • Bearings for Crank shafts
  • Flanged Bearings
  • Trimetal Bearings

Bushes

  • Truncated bushes for Connecting rods
  • Ball indented bushes
  • Bushes for Connecting Rods
  • Cam Shafts, Rock Shafts
  • Rocker Arms

Thrust Washers

  • Washers with Thrust
  • Face Contours
  • Ring Type
  • Thrust Washers.

Achievements/ recognition:

  • Certified by TUV for ISO-TS-16949: 2002 standards
  • Awarded “Self certification / Single source / Ship to use” status by  leading auto brands across the world
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