Munjal Showa Ltd.
Snapshot View

149.30 +1.40 ▲1.0%

23 July 2021, 04:00:00 P.M.
Volume: 11,584

Overview View Details

Sector Automobile & Ancillaries Compare with Sector peers
Industry Auto Ancillary Compare with Industry peers
Website http://www.munjalshowa.net
Financial Indicators
Market Cap 595.73 Cr.
Earnings per share (EPS) 6.54 Trailing Twelve Months Ending 2021-03
Price-Earning Ratio (PE) 22.79 Trailing Twelve Months Ending 2021-03
Industry PE 91.09 Trailing Twelve Months Ending 2021-03
Book Value / Share 160.37 Trailing Twelve Months Ending 2021-03
Price to Book Value 0.93 Calculated using Price: 148.95
Dividend Yield 3.02 Period Ending 2020-03
No. of Shares Subscribed 4.00 Cr. 39,995,000 Shares
FaceValue 2
Company Profile

Munjal Showa was established in 1985, in technical and financial collaboration with Showa Corporation of Japan, the pioneering global leaders, is engaged in the manufacture of shock absorbers, Munjal Showa Limited is a member of Hero Group.

The company is one of the biggest manufacturers of shock absorbers, telescopic front forks, struts, gas struts, window balancers / gas springs in the country. Nearly 95% of company’s revenues come from the two-wheeler industry, out of which Hero Honda alone accounts for 85%. Thus, MSL is assured of a sizeable offtake at all times.

Munjal Showa Limited in Hero Group’s joint venture with Showa Corporation, designs and manufacturers shock absorbers and struts for leading two-wheelers and four-wheelers. The Munjal Showa manufacturing plant is spread over an area of 24075 sq mt in the industrial area of Gurgaon, Haryana, on the outskirts of the National Capital Territory of Delhi, India.

Munjal Showa Limited is one of the largest suppliers of shock absorbers to major auto giants in India, Japan, Germany, the United States and the United Kingdom, amongst other developed markets. The Company's products conform to the highest standards of quality, safety, comfort and dependability and are QS 9000, ISO 14001 and ISO 9001 compliant. The use of advanced technology and a team of experienced personnel have led to outstanding growth in the Company.

Munjal Showa Limited has established a strong foothold in the auto ancillaries manufacturing market and enjoys a wide patronage. Munjal Showa products serve as original equipment to a wide range of Maruti Suzuki upper-end cars and export models, Honda City car, complete range of Hero Honda motorcycles, Kawasaki Bajaj motorcycles, Kinetic Scooters and Hero range of mini-motorcycles and mopeds and Honda Motorcycles and Scooters India (Pvt) Limited. In over a decade the company's state-of-the-art shock absorbers, front fork, struts and window balancers/gas springs have become symbols of reliability and quality for popular two and four wheeled vehicles.

Better products through better technology - this is the maxim that guides the Munjal Showa team. The eco-friendly plant at Gurgaon is equipped with ultra modern facilities. A team of expert engineers from Showa, Japan, support and monitor the production of virtually zero-defect products. Our manufacturing methods are continually modified and improved upon, in order to realize goals of higher productivity. We are using the Japanese system of encompassing 5S, 3G, 3K, 3M, in the work culture thus promoting efficiency at the team level and a clean production system.

Product range of the company includes:

  • Front Fork for two-wheelers
  • Front/Rear Cushion for two-wheelers
  • Front/Rear Strut for Maruti
  • Open Stay for Maruti
  • Front/Rear Strut for Honda Siel.

Awards/Achievements

  • The company is ISO 9002, 9001, 9000, 14001, TS-16949 certified.
  • In Sep. 2001 won 1st prize in CII-QC. Circle competition at Chandigarh.
  • In Oct. 2001 won 2nd prize in CII-QC. Circle competition at Delhi.
  • In 2002, rated as the best company by Honda Siel in quality improvement activity.
  • In 2003, won 1st prize in CCQC’03.
  • Munjal Showa has been assigned API+ rating for a Rs 60 million commercial paper programme by CRISIL.

Recent developments

Munjal Showa has commissioned its third plant in the holy city of Haridwar in Uttrakhand, during the year with an initial capacity of 5 million shock absorbers per year to cater to the needs of Hero Honda Motors. The new plant is installed to avail the concessional tax structure and incentives offered by the state. The new plant has strengthened company’s position in the industry and reduced cycle time for a development of new models.

Delivery View Details

Delivered Qty
Traded Qty

Performance View Details

1 Day
+0.95%
1 Week
-0.47%
1 Month
-10.33%
3 Month
+13.54%
6 Month
+4.01%
1 Year
+44.95%
2 Year
+13.93%
5 Year
-17.38%
9 years 2012-03 2013-03 2014-03 2015-03 2016-03 2017-03 2018-03 2019-03 2020-03
Return on Equity (%) 29.25 21.72 21.16 19.72 14.16 12.58 14.32 10.61 6.84
Return on Capital Employed (%) 31.42 23.05 24.42 27.89 20.41 18.26 19.54 14.54 9.50
Return on Assets (%) 12.94 11.30 12.60 12.74 10.01 9.23 10.12 7.63 5.36

Balance Sheet View Details

Particulars 9 years 2012-03 Rs. Cr. 2013-03 Rs. Cr. 2014-03 Rs. Cr. 2015-03 Rs. Cr. 2016-03 Rs. Cr. 2017-03 Rs. Cr. 2018-03 Rs. Cr. 2019-03 Rs. Cr. 2020-03 Rs. Cr.
Shh. Funds 256 303 356 411 453 513 570 611 633
Non Curr. Liab. 36 20 13 11 10 38 35 26 14
Curr. Liab. 250 209 205 191 147 156 221 178 126
Minority Int.
Equity & Liab. 542 532 574 613 610 706 825 815 772
Non Curr. Assets 283 292 277 252 250 273 247 276 268
Curr. Assets 259 240 297 360 359 434 578 538 505
Misc. Exp. not W/O 0
Total Assets 542 532 574 613 610 706 825 815 772

Profit Loss View Details

Particulars 9 years 2012-03 Rs. Cr. 2013-03 Rs. Cr. 2014-03 Rs. Cr. 2015-03 Rs. Cr. 2016-03 Rs. Cr. 2017-03 Rs. Cr. 2018-03 Rs. Cr. 2019-03 Rs. Cr. 2020-03 Rs. Cr.
Net Sales 1,557 1,581 1,598 1,643 1,502 1,460 1,581 1,669 1,288
Other Income 2 3 6 8 5 18 21 23 25
Total Income 1,558 1,585 1,604 1,651 1,507 1,477 1,602 1,693 1,313
Total Expenditure -1,434 -1,476 -1,493 -1,516 -1,390 -1,360 -1,468 -1,581 -1,233
PBIDT 124 109 111 135 117 117 134 112 79
Interest -11 -7 -3 -1 0 0 0 0 -1
Depreciation -27 -28 -28 -29 -29 -29 -28 -26 -20
Taxation -19 -7 -10 -31 -27 -27 -28 -23 -16
Exceptional Items -6 1
PAT 67 61 70 76 61 61 78 63 43

Cash Flow View Details

Particulars 9 years 2012-03 Rs. Cr. 2013-03 Rs. Cr. 2014-03 Rs. Cr. 2015-03 Rs. Cr. 2016-03 Rs. Cr. 2017-03 Rs. Cr. 2018-03 Rs. Cr. 2019-03 Rs. Cr. 2020-03 Rs. Cr.
Cash Fr. Operatn. 61 116 55 55 65 83 96 41 66
Cash Fr. Inv. -25 -31 -18 -48 -26 -79 -63 3 -82
Cash Fr. Finan. -35 -72 -40 -22 -38 0 -19 -22 -22
Net Change 2 13 -2 -14 1 4 14 23 -39
Cash & Cash Eqvt 5 18 16 2 2 6 19 42 3

Shareholding Pattern View Details

9 Qtrs 2019-03 (%) 2019-06 (%) 2019-09 (%) 2019-12 (%) 2020-03 (%) 2020-06 (%) 2020-09 (%) 2020-12 (%) 2021-03 (%)
Promoter 65.02 65.02 65.02 65.02 65.02 65.02 65.02 65.02 65.02
Public 34.98 34.98 34.98 34.98 34.98 34.98 34.98 34.98 34.98
Depository Receipts 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Promoter Holding Pledge (%) 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

Announcements View Details

Fri, 23 Jul 2021
Announcement under Regulation 30 (LODR)-Newspaper Publication
Pursuant to Regulation 47 and other applicable provisions of SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015 please find enclosed herewith the copy of Newspaper advertisement published in newspapers viz. Mint in English language on July 23 2021 and Hindustan in Hindi Language on July 23 2021 for notice to shareholders for 36th Annual General Meeting and for record dates.
Thu, 15 Jul 2021
Statement Of Investor Complaints For The Quarter Ended June 2021
No.of Investor complaints pending at the beginning of the quarter No.of Investor complaints received during the quarter No.of Investor complaints disposed of during the quarter No.of Investor complaints unresolved at the end of the quarter
0000
Name of the Signatory :- Geetanjali Sharma
Designation :- Company Secretary and Compliance Officer
Thu, 15 Jul 2021
Compliances Under Regulation 23(9) Of SEBI (Listing Obligations And Disclosure Requirements) Regulations 2015
Pursuant to Regulation 23(9) of SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015 we hereby enclose the disclosure of Related Party Transactions for the half year ended March 31 2021 in the format specified in the relevant accounting standards.

Technical Scans View Details

Fri, 23 Jul 2021
Stock Outperforming Sectoral Index in both 1 Week and 3 Month Stock Outperforming Sectoral Index in both 1 Week and 3 Month
Both SRS And ARS Below Zero Both SRS And ARS Below Zero
Closing Near 50 EMA Closing Near 50 EMA
Closing Near 100 EMA Closing Near 100 EMA
Thu, 22 Jul 2021
Decreasing Relative Strength - Benchmark index Decreasing Relative Strength - Benchmark index

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