Is Menon Pistons a good quality company?

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

Is Menon Pistons undervalued or overvalued?

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

What is Menon Pistons share price return in the past 10 years?

Menon Pistons Ltd share price has appreciated 18.5% annually (CAGR) over the past ten years.

Is Menon Pistons a good buy now?

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

Menon Pistons Ltd - Stock Valuation and Financial Performance

Name: Menon Pistons
Brand: Menon Pistons

BSE: 531727 | NSE: | Auto Ancillary | Small Cap

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Menon Pistons Share Price

₹76.55 -1.51 -1.93%
as on 05-Nov'24 00:00

10 Year X-Ray of Menon Pistons:

Analysis of Financial Track Record

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

Standalone Basis ^P Consolidated Basis ^P

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

Value Creation ⓘ

Value Creation Index Colour Code Guide ⓘ

	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	TTM
ROCE % ⓘ	13.5%	11.5%	15.7%	15.9%	18.1%	7.3%	14.2%	23.7%	26.1%	22.8%	-
Value Creation Index ⓘ	0.0	-0.2	0.1	0.1	0.3	-0.5	0.0	0.7	0.9	0.6	-
Growth Parameters ⓘ Growth Parameters Colour Code Guide ⓘ
Sales ⓘ	144	130	133	146	156	118	137	201	208	209	213
Sales YoY Gr.	-	-9.7%	1.9%	10%	6.9%	-24.6%	16.4%	46.6%	3.6%	0.3%	-
Adj EPS ⓘ	1.1	0.8	1.5	1.4	2	0.9	1.8	3.5	4.6	4.7	4.8
YoY Gr.	-	-25.5%	78.1%	-6.2%	43.1%	-56.1%	103.5%	100%	32.3%	2.4%	-
BVPS (₹) ⓘ	11.5	11.8	13.3	14	15.2	14.6	16.3	18.8	22.7	26.4	27.4
Adj Net Profit ⓘ	5.6	4.2	7.4	7	10	4.4	8.9	17.9	23.6	24.2	24
Cash Flow from Ops. ⓘ	3.4	11.4	5	1.2	11.4	13.8	12.9	3.8	41.2	20.5	-
Debt/CF from Ops. ⓘ	7.4	1.5	2.8	7.2	0.2	0.3	0.8	7.2	0.4	1	-

CAGR ⓘ

CAGR Colour Code Guide ⓘ

	9 Years	5 Years	3 Years	1 Years
Sales ⓘ	4.2%	6%	15.1%	0.3%
Adj EPS ⓘ	17.6%	19.3%	39.4%	2.4%
BVPSⓘ	9.7%	11.6%	17.4%	16.4%
Share Price	18.5%	40.3%	15.4%	2.2%

Key Financial Parameters ⓘ

Performance Ratio Colour Code Guide ⓘ

	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	TTM
Return on Equity % ⓘ	9.7	7	11.6	10	13.4	5.8	11.3	20	22.3	19.3	17.9
Op. Profit Mgn % ⓘ	10.1	8.7	11.3	10.8	11.9	9.1	12.4	15.2	15.3	15.1	15.7
Net Profit Mgn % ⓘ	3.9	3.2	5.6	4.8	6.4	3.7	6.5	8.9	11.3	11.6	11.5
Debt to Equity ⓘ	0.4	0.3	0.2	0.1	0	0.1	0.1	0.3	0.1	0.2	0.1
Working Cap Days ⓘ	161	170	157	165	163	195	175	154	158	151	67
Cash Conv. Cycle ⓘ	70	76	82	105	113	145	112	91	97	97	32

Recent Performance Summary

Sales growth is growing at healthy rate in last 3 years 15.05%

Net Profit is growing at healthy rate in last 3 years 39.39%

Return on Equity has declined versus last 3 years average to 17.90%

Sales growth is not so good in last 4 quarters at 3.55%

Latest Financials - Menon Pistons Ltd.

	Standalone	Consolidated
TTM EPS (₹)	4.8	5
TTM Sales (₹ Cr.)	213	254
BVPS (₹.) ⓘ	27.4	28.9
Reserves (₹ Cr.) ⓘ	134	142
P/BV ⓘ	2.85	2.70
PE ⓘ	16.27	15.70

From the Market
52 Week Low / High (₹)	70.00 / 125.90
All Time Low / High (₹)	2.81 / 125.90
Market Cap (₹ Cr.)	398
Equity (₹ Cr.)	5.1
Face Value (₹)	1
Industry PE ⓘ	53.8

Management X-Ray of Menon Pistons:

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged ^*

0.00

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

Valuation of Menon Pistons

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Price Chart

Price to Earnings

Enterprise Value to EBIT

Price to Book-Value

Price to Sales

Dividend History

Analyst's Notes

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Key Ratios of Menon Pistons

Standalone Basis Consolidated Basis

Adj EPS (Rs.)

Sales (Cr.)

ROE (%)

ROCE (%)

Profit And Loss

(All Figures are in Crores.)

Standalone Basis Consolidated Basis

PARTICULARS	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24
Sales	144	130	133	146	156	118	137	201	208	209
Operating Expenses ⓘ	130	119	118	130	137	107	120	170	176	177
Manufacturing Costs	31	31	36	39	42	34	39	53	50	51
Material Costs	71	61	55	63	66	45	58	89	96	93
Employee Cost	14	14	17	18	18	18	16	19	19	20
Other Costs ⓘ	14	13	10	11	12	10	7	9	12	13
Operating Profit ⓘ	15	11	15	16	19	11	17	31	32	31
Operating Profit Margin (%)	10.1%	8.7%	11.2%	10.8%	11.9%	9.1%	12.4%	15.2%	15.3%	15.1%
Other Income ⓘ	1	2	2	1	1	0	1	1	7	7
Interest ⓘ	3	2	2	1	0	0	0	1	3	2
Depreciation ⓘ	5	4	4	4	5	5	5	6	6	6
Exceptional Items ⓘ	0	0	0	0	0	0	0	0	0	0
Profit Before Tax ⓘ	8	7	11	12	14	6	12	24	30	31
Tax ⓘ	2	2	3	5	4	1	3	6	7	6
Profit After Tax	6	4	7	7	10	4	9	18	24	24
PAT Margin (%)	4.0%	3.3%	5.6%	4.8%	6.5%	3.7%	6.5%	8.9%	11.4%	11.6%
Adjusted EPS (₹)	1.1	0.8	1.5	1.4	2.0	0.9	1.8	3.5	4.6	4.7
Dividend Payout Ratio (%)	36%	48%	34%	44%	38%	52%	57%	21%	22%	21%

Balance Sheet

(All Figures are in Crores.)

Standalone Basis Consolidated Basis

PARTICULARS	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24
Equity and Liabilities
Shareholders Fund	59	61	68	71	78	75	83	96	116	135
Share Capital ⓘ	5	5	5	5	5	5	5	5	5	5
Reserves ⓘ	54	56	63	66	73	69	78	91	111	130
Minority Interest	0	0	0	0	0	0	0	0	0	0
Debt	25	17	14	8	2	4	11	20	16	20
Long Term Debt	0	0	0	0	0	0	0	19	10	5
Short Term Debt	25	17	14	8	2	4	11	1	6	15
Trade Payables	16	14	12	10	11	7	17	19	13	18
Others Liabilities ⓘ	12	9	9	10	11	7	11	17	19	18
Total Liabilities ⓘ	113	101	103	100	102	93	122	151	164	191
Fixed Assets
Gross Block	90	90	91	93	102	108	116	129	145	173
Accumulated Depreciation	54	58	62	66	71	76	82	87	93	99
Net Fixed Assetsⓘ	35	32	29	27	31	32	35	42	52	74
CWIP ⓘ	0	0	0	0	0	0	0	1	0	0
Investmentsⓘ	0	0	0	0	0	0	0	12	27	27
Inventories	21	17	17	16	17	21	21	23	21	20
Trade Receivables	31	28	32	41	44	28	40	55	48	58
Cash Equivalents	7	6	9	3	2	4	13	2	1	2
Others Assetsⓘ	18	19	16	13	8	8	13	17	16	10
Total Assets ⓘ	113	101	103	100	102	93	122	151	164	191

Cash Flow

(All Figures are in Crores.)

Standalone Basis Consolidated Basis

PARTICULARS	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24
Cash Flow From Operating Activity ⓘ	3	11	5	1	11	14	13	4	41	20
PBT ⓘ	8	7	11	12	14	6	12	24	30	31
Adjustment ⓘ	7	6	4	5	5	5	5	7	3	3
Changes in Working Capital ⓘ	-9	1	-7	-10	-2	5	-2	-21	14	-8
Tax Paid ⓘ	-2	-2	-4	-5	-5	-2	-3	-7	-7	-5
Cash Flow From Investing Activity ⓘ	1	1	-5	4	-8	-7	-9	-25	-25	-16
Capex	0	0	-2	-4	-8	-5	-11	-13	-18	-21
Net Investments	1	0	-4	7	0	-2	1	0	0	0
Others ⓘ	0	1	2	1	0	0	0	-11	-7	5
Cash Flow From Financing Activityⓘ	-6	-13	-1	-4	-4	-6	7	10	-17	-4
Net Proceeds from Shares ⓘ	0	0	0	0	0	0	0	0	0	0
Net Proceeds from Borrowing ⓘ	0	0	0	0	0	0	0	26	-9	-5
Interest Paid ⓘ	-3	-2	-2	-1	0	0	0	-1	-3	-2
Dividend Paid ⓘ	-1	-2	0	-3	-4	-7	0	-5	-4	-5
Others ⓘ	-2	-9	0	0	0	2	7	-10	-2	9
Net Cash Flow ⓘ	-2	-1	-1	1	-1	1	10	-11	-1	1

Finance Ratio

Standalone Basis Consolidated Basis

PARTICULARS	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24
Ratios
ROE (%)	10.01	7.21	11.56	10.1	13.51	5.76	11.32	19.98	22.36	19.32
ROCE (%)	13.5	11.48	15.68	15.9	18.08	7.34	14.2	23.73	26.05	22.76
Asset Turnover Ratio	1.35	1.34	1.46	1.48	1.55	1.21	1.28	1.47	1.32	1.18
PAT to CFO Conversion(x)	0.5	2.75	0.71	0.14	1.1	3.5	1.44	0.22	1.71	0.83
Working Capital Days
Receivable Days	69	75	73	89	99	112	91	87	90	92
Inventory Days	52	48	41	40	38	58	55	40	39	36
Payable Days	95	92	71	48	51	61	68	70	60	60

Menon Pistons Ltd Stock News

Menon Pistons Ltd FAQs

What is the share price of Menon Pistons?

Company share prices are keep on changing according to the market conditions. The closing price of Menon Pistons on 05-Nov-2024 00:00 is ₹76.55.

What is the market cap of Menon Pistons?

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 05-Nov-2024 00:00 the market cap of Menon Pistons stood at ₹398.1.

What is the P/E ratio of Menon Pistons?

The latest P/E ratio of Menon Pistons as of 05-Nov-2024 00:00 is 16.27.

What is the P/B ratio of Menon Pistons?

The latest P/B ratio of Menon Pistons as of 05-Nov-2024 00:00 is 2.85.

What is the 52-week high and low of Menon Pistons?

The 52-week high of Menon Pistons is ₹125.9 and the 52-week low is ₹70.00.

What is the TTM revenue of Menon Pistons?

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Menon Pistons is ₹213.4 ( Cr.) .

About Menon Pistons Ltd

Menon Pistons Ltd. ( MPL ) ventured into the manufacture of pistons in 1971 without any collaboration or technical assistance of any piston manufacturer. Menon Pistonsâ€™s manufacturing plant was set up at the industrial estate in Shiroli, Kolhapur, a small industrial city, south east of Mumbai & delivered the First Ring Carrier piston to the Indian diesel engine industry in 1971.

Menon Group, the 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, & our ability to meet special needs is recognized the word over.

In the year 1985 a second unit was started in Sangli, yet again a small town 60 km away from Kolhapur to manufacture Gudgeon Pins & Pistons for stationary & industrial applications. In the year 1996 a third unit was added in Shiroli industrial estate exclusively for the manufacture of small pistons to industrial applications & passenger cars. Currently this plant concentrates on the manufacturing of pistons for passenger car as an â€œ Exclusive & Single source â€œ supplier to Maruti Suzuki Ltd, for their prize vehicle â€œ Swift â€

The company has kept pace with the growing trends by virtue of streamlining quality systems, development of quality culture, adoption of latest technology & equipment. Products of Menon Pistons enjoy a high degree of customer satisfaction & value for the money & has been the choice of discerning customers as most cost effective supplier.

Menon Pistons Ltd., manufactures aluminium alloy pistons, piston pins, and piston rings for passenger cars, heavy and light commercial vehicles, heavy duty diesel engines for power generation and earth movers, compressors, etc.

Product range of the company includes:

MPL's product range boasts of piston assemblies for diverse array of high tech features catering to the wide variety of applications such as :

Heavy Duty Diesel Engines for Power Generation / Off Highway Vehicles/Gas Engines
Heavy/Medium/Light Commercial Vehicles with Diesel Engines.
Passenger Car (Diesel & Gasoline) Engines
Bi-wheeler (4 Stroke) / Small Engine Applications

Clients:

Tata
Suzuki
Cummins
Greaves
New Holland
Eicher
Kirloskar
Arrow Engine Company

Milestones:

1969 - Company Incorporated.
1971 - Developed Ring Carrier Piston (Alfin Piston) Fist Time in India for Cummins which was import substitution.
1978 -100,000Th Piston Produced for Cummins alone.
1982 - Technology upgradation Agreement with Sakura Kogyo Co.Ltd, Japan, for manufacture of Pistons.
1985 -Started Gudgeon Pin Production in Plant 2 â€“ Sangli (Maharashtra).
1985 -First Export of Pistons to Russia. Upto 1991 supplied pistons to AVTO LADA & 40000 large dia pistons to tractor company in USSR.
1985 -ISO 9002 Certification by BVQI, UK.
1994 -Best Vendor Performance Award by Maruti Udyog Ltd.
1995 -â€œShip to Useâ€ Status awarded by Cummins India Ltd.
1996 - Company became Public Limited.
1996 -Technical Tie up with M/s. Izumi Industries Ltd, Japan, one of the leading piston manufacturers in the world.
2000 -QS 9000 certification by TUV Suddeutschland, Germany.
2001 -Reached a total supply of 1.5 Million Pistons to Cummins.
2004 -Re-certification of QS 9000 by TUV Suddeutschland, Germany.
2005 -TS 16949 certification by TUV Suddeutschland, Germany.
2006 -Signed Technical License Agreement with M/s. Dong Yang Piston Co Ltd, South Korea.
2006- First surveillance audit of TS 16949 successfully completed.
2007 -Development of cooled gallery piston for heavy duty application.

Achievements/ recognition:

The First Company in India to develop Ring Carrier Pistons
Best Vendor Award from Maruti Udyog Ltd in the year 1994-95
â€œShip -to - Useâ€ Status by Cummins India Ltd since 1995
Faster Development Award from Kirloskar Oil Engines Ltd
ISO/TS: 16949 Certified by TUV Suddentschland in 2005
â€œOutstanding Supplier For Excellent Performanceâ€ award from Cummins Group in July 2006