Menon Bearings Limited (MENONBE)

Automobile and Auto Components · Auto Components · NSE · Updated 15 July 2026

₹161.7 ↑ 28.75% (1Y)

🎯 Key Takeaways

Menon Bearings Limited is in a clear expansion and margin improvement phase, transitioning from a mature auto components supplier to a growth-oriented player targeting scale in automotive and industrial segments. Management is executing a strategic plan to increase revenue to INR 500 crores by FY28 with improved EBITDA margins, supported by capacity expansion and export growth.
Revenue declined 1.7% QoQ to ₹58 in Q3FY25.
⚠️ Raw material cost inflation in aluminum (INR 240-280/kg) and copper (INR 900-1,275/kg) poses a margin pressure risk, which management acknowledges but

Market Cap

₹819

P/E Ratio

34.1

Div Yield

0.00%

Promoter

0.0%

✨ Ask AI About MENONBE 📊 Interactive Charts

📖 The Story

Menon Bearings Limited is in a clear expansion and margin improvement phase, transitioning from a mature auto components supplier to a growth-oriented player targeting scale in automotive and industrial segments. Management is executing a strategic plan to increase revenue to INR 500 crores by FY28 with improved EBITDA margins, supported by capacity expansion and export growth. The company has demonstrated strong profitability trends, with PAT growth accelerating in FY26, indicating operational leverage and successful execution of its diversification strategy.

📰 What's Happening

In the latest filing on 2026-07-14, Menon Bearings announced a scheduled earnings conference call for 17 July 2026 to discuss un-audited Q1FY27 results, indicating ongoing investor engagement around quarterly performance. Prior to this, on 2026-06-26, the company disclosed a trading window closure ahead of board approval of Q1FY27 financials, signaling imminent results disclosure. The most significant recent update came from the 2026-05-24 filing, where management reported FY26 PAT growth of 53.41% YoY to INR 38.25 crores and total income growth of 23.16% YoY to over INR 300 crores. Management highlighted progress toward a INR 500 crores revenue target by FY28, with 20-22% EBITDA margins, 25% YoY growth expected, and capacity expansion to 2,000+ tonnes/year. Export growth was notable, with 50% YoY increase in the US and 80% of exports going to Europe. Capital allocation includes INR 25 crores for Bi-Metal, INR 7 crores for Alkop, and INR 3 crores for brakes over two years, with Alkop projected to achieve 29% CAGR and INR 120 crores revenue in two years.

Source: Stock Announcements

📊 Quarterly Results (₹ Cr)

Metric	Q4FY23	Q1FY24	Q2FY24	Q3FY24	Q4FY24	Q1FY25	Q2FY25	Q3FY25
Revenue	54	55	51	515	54	58	59	58
Operating Profit	14	12	11	104	11	11	12	11
OPM %	25.5%	21.4%	20.1%	18.5%	18.6%	18.5%	19.4%	16.7%
Net Profit	9	7	6	55	6	6	7	5
EPS	₹1.64	₹1.29	₹1.06	₹0.98	₹1.00	₹1.10	₹1.20	₹0.98

The quarterly financials show a clear upward trajectory in profitability and operational efficiency, with PAT growing from INR 5 crores in Q3FY25 to INR 7 crores in Q2FY25 and peaking at INR 9 crores in Q4FY23, while revenue has remained relatively stable around INR 50-60 crores per quarter. However, the most recent quarterly data (Q3FY25 to Q1FY25) indicates slight revenue compression (₹58-59 crores) with OPM stabilizing around 16-19%, and NP declining slightly to ₹5 crores in Q3FY25 from ₹7 crores in Q2FY25. This suggests short-term margin pressure or volume fluctuations, but the broader FY26 results confirm management's long-term growth narrative. The company has improved asset turnover to ~1.5 consolidated and targeting 2.0 by FY28, reflecting better capital efficiency. The PAT growth of 53.41% YoY in FY26, as highlighted in the filing, was driven by revenue expansion, export momentum, and cost management despite raw material inflation.

🔮 Management Outlook & What's Next

Management has provided an ambitious but specific outlook, targeting INR 500 crores in revenue by FY28 with sustained 20-22% EBITDA margins and minimum 50 basis points of annual margin improvement from FY26's 22%. They expect 25% YoY growth in the next fiscal year and project the Alkop segment to grow at 29% CAGR, reaching INR 120 crores in revenue within two years. Capacity expansion to over 2,000 tonnes/year and asset turnover of 2.0 by FY28 are central to scaling operations. Export growth is expected to continue, with 80-90% ex-works conversion anticipated. Management emphasized sustainable growth, margin consistency, and diversification into industrial and EV segments, while ensuring no single customer exceeds 15% of revenue. They also highlighted the benefit of export financing at 2.75% subvention to reduce interest burdens, supporting profitability in international markets.

Extracted from official company announcements. Not StockFin.ai's opinion.

⚖️ Peer Comparison — Auto Components

Company	MCap (₹ Cr)	P/E	ROCE	ROE	D/E
Samvardhana Motherson International Limited	1.37 L Cr	30.6	—	—	—
Bosch Limited	1.11 L Cr	55.0	—	—	—
Bharat Forge Limited	91,463	99.6	—	—	—
UNO Minda Limited	64,785	66.7	—	—	—
Schaeffler India Limited	62,984	67.0	—	—	—
Tube Investments of India Limited	55,168	47.4	—	—	—
MRF Limited	54,558	31.1	—	—	—
Balkrishna Industries Limited	41,530	23.4	—	—	—
Endurance Technologies Limited	35,848	44.7	—	—	—
Sona BLW Precision Forgings Limited	35,667	58.5	—	—	—

🔗 Peer Stock Analyses

MOTHERSON BOSCHLTD BHARATFORG UNOMINDA SCHAEFFLER

⚠️ Risk Factors

1. Raw material cost inflation in aluminum (INR 240-280/kg) and copper (INR 900-1,275/kg) poses a margin pressure risk, which management acknowledges but plans to offset through pricing power and export financing benefits. 2. Export growth, while strong at 50% YoY in the US and 80% to Europe, introduces exposure to global demand cycles and geopolitical risks, particularly in key markets like Europe and North America. 3. The company's growth targets depend heavily on successful execution of capacity expansion and new product ramp-ups, with no guarantee of timely execution or market acceptance. 4. Despite diversification efforts, the company remains concentrated in automotive segments, and any slowdown in original equipment manufacturer (OEM) demand could impact revenue momentum.

📋 Recent Filings

🧠 Analyst's Read

Menon Bearings is executing a well-defined growth strategy with clear financial targets, supported by strong export momentum and improving operational metrics. Investors should monitor Q1FY27 results and management's commentary on margin performance amid raw material cost pressures, as well as progress toward the INR 500 crores revenue target and 20-22% EBITDA margin goal by FY28. The company's ability to sustain 25%+ growth and convert capacity expansion into profitability will be critical. With promoter stability and moderate institutional interest, the stock may offer upside potential if execution remains on track, but near-term volatility is likely ahead of results.

Based on filing content and financial data. Not a recommendation.

Read the full analysis

Quarterly trends, balance sheet, cash flow, peer comparison, and AI insights — sign up free to unlock.

2 free AI queries per day.

✨ Deep Dive with AI on MENONBE

Data sourced from stock announcements. Analysis generated by StockFin.ai.
For informational purposes only — not investment advice. Updated 2026-07-15.

📡 Get AI alerts when MENONBE files new disclosures

Track MENONBE filings, board meetings, and corporate actions. Free email alerts at 5 PM.

Track MENONBE — Free

Free account · 2 AI queries/day