Menon Pistons share price & results
- Jun 2026
- Sept 2026
Kolhapur-based auto-components manufacturer of pistons, operating via a main plant at Shiroli and two wholly owned subsidiaries.
Reported
The figures, each with its period
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | 65.8 | +2.0% YoY | Quarterly, as filed | Quarter to Jun 2026 | Revenue from operations as filed. |
| Operating margin | 13.2 | −1.3 pts YoY | Operating profit / revenue | Quarter to Jun 2026 | For the quarter; a change is in percentage points. |
| Net profit | 5.3 | +1.7% YoY | Quarterly, as filed | Quarter to Jun 2026 | Profit after tax as filed. |
| Return on equity | 15.68 | −0.6 pts | Trailing twelve months | TTM to Jun 2026 | Adjusted profit attributable to owners ÷ average owners’ equity. |
| Free cash flow margin | 6.33 | −1.9 pts | Fiscal year | FY ending Mar 2026 | (Operating cash flow − fixed-asset purchases + disposals) ÷ revenue. |
| Revenue growth (YoY) | 16.09 | +20.5 pts | Trailing twelve months | TTM to Jun 2026 | Revenue change against the same period one year earlier. |
Price
Performance −4.1% 1Y
1Y: ₹63.37 on 24 Oct 2025 → ₹60.78. High ₹84.28 (8 Sept 2026), low ₹46.81 (30 Mar 2026).
- Previous close
- ₹58
- Market cap
- ₹309 Cr
- 52-week range
- ₹46.81 – ₹84.28
- One year
- −3.91%
- Price to earnings (TTM to Jun 2026)
- 11.76×
- Return on equity (TTM to Jun 2026)
- 15.68%
Overview
- Symbol
- NSE:MENNPIS
- Industry
- Consumer Discretionary
- Exchange
- NSE
- Currency
- INR
What Menon Pistons Limited does
Based on the company's own presentations, annual report and earnings calls.
Menon Pistons Limited manufactures automotive pistons at its main manufacturing facility in Shiroli, Kolhapur, Maharashtra. The company operates through this standalone plant along with two wholly owned subsidiaries, Rapid Machining Technologies Private Limited and Lunar Enterprise Private Limited. It has invested in rooftop and ground-mounted solar power generation at its plant to cover a large share of its own power consumption, alongside dedicated wastewater and effluent treatment infrastructure.
- Manufacturing facility
- Main plant at Shiroli, Kolhapur, Maharashtra
- Installed renewable (solar) power capacity
- ~11 MW (4 MW commissioned + 4.3 MW in process, plus rooftop solar), ~70% of total power consumption
- Wholly owned subsidiaries
- 2 (Rapid Machining Technologies Pvt. Ltd.; Lunar Enterprise Pvt. Ltd.)
- Sewage Treatment Plant capacity
- 40 CMD (cubic meters/day)
- Effluent Treatment Plant capacity
- 10 CMD (cubic meters/day)
- Backup power (DG sets)
- 2 x 500 kVA acoustic-enclosed diesel generator sets
Fundamentals
Ratios, each with its period
Current values with the period they cover; the trend reads across the 5 fiscal years held (Mar 2022 to Mar 2026).
Financials
What the filings say
Net profit, year on year: +2% (quarter to jun 2026 against jun 2025).
| Line item | Sept 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sept 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 55 | 53 | 48 | 65 | 59 | 60 | 60 | 66 |
| Expenses | 47 | 45 | 42 | 55 | 51 | 53 | 54 | 57 |
| Operating profit | 8 | 8 | 6 | 9 | 8 | 8 | 6 | 9 |
| Operating margin | 15.2% | 15.1% | 12.6% | 14.6% | 13.6% | 12.9% | 10.2% | 13.2% |
| Other income | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 |
| Interest | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 |
| Depreciation | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 |
| Profit before tax | 6 | 6 | 4 | 7 | 6 | 6 | 5 | 7 |
| Tax rate | 25.2% | 25.2% | 34.3% | 26.1% | 27.7% | 31.0% | 16.2% | 25.5% |
| Net profit | 5 | 4 | 3 | 5 | 5 | 4 | 4 | 5 |
| EPS (₹ per share) | 0.91 | 0.86 | 0.52 | 1.02 | 0.89 | 0.77 | 0.77 | 1.04 |
| Line item | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| Sales | 235 | 210 | 212 | 244 |
| Expenses | 196 | 177 | 180 | 213 |
| Operating profit | 40 | 33 | 32 | 31 |
| Other income | 9 | 7 | 3 | 4 |
| Interest | 3 | 4 | 4 | 3 |
| Depreciation | 8 | 6 | 7 | 8 |
| Profit before tax | 39 | 31 | 24 | 24 |
| Net profit | 28 | 24 | 17 | 18 |
| Line item | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sept 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Equity capital | 5 | 5 | 5 | 5 | 5 | 5 |
| Reserves | 91 | 111 | 130 | 141 | 162 | 154 |
| Borrowings | 27 | 17 | 21 | 17 | 15 | 3 |
| Other liabilities | 28 | 31 | 36 | 33 | 48 | 43 |
| Total liabilities | 151 | 164 | 191 | 196 | 230 | 204 |
| Fixed assets | 42 | 52 | 74 | 76 | 91 | 95 |
| Capital work in progress | 1 | 0 | 0 | 0 | 10 | 4 |
| Investments | 15 | 27 | 27 | 27 | 0 | 27 |
| Other assets | 94 | 86 | 90 | 93 | 129 | 78 |
| Total assets | 151 | 164 | 191 | 196 | 230 | 204 |
| Line item | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|
| Cash from operations | 4 | 41 | 23 | 35 | 45 |
| Cash from investing | -25 | -25 | -16 | -20 | -23 |
| Cash from financing | 10 | -17 | -6 | -14 | -23 |
| Net cash flow | -11 | -1 | 1 | 1 | -1 |
| Free cash flow | -10 | 23 | 2 | 19 | 21 |
| Line item | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Debtor days | 108 | 100 | 84 | 100 | 74 | 48 |
| Inventory days | 128 | 95 | 79 | 80 | 94 | 75 |
| Days payable | 105 | 77 | 48 | 70 | 81 | 77 |
| Cash conversion cycle | 132 | 119 | 114 | 110 | 88 | 46 |
| Working capital days | 69 | 88 | 63 | 58 | 62 | 34 |
| Return on capital employed | 14.0% | 24.0% | 26.0% | 24.0% | 17.0% | 17.0% |
| Dividend payout | 57.0% | 21.0% | 22.0% | 21.0% | 29.0% | 29.0% |
What the price assumes
Growth trapTo justify its price of ₹61, this stock must grow earnings at 11% every year for 7 years. Our analysis caps realistic growth at ~-4%. At that growth it is worth ₹26 — downside of 57%.
- Growth the price implies
- 11.5% a year
- for 7 years, fading to 4%
- It has actually compounded at
- -4.0% a year
- net profit, FY23–FY26 · EPS -4.1%
- The gap
- 0.2 pp
- -57% downside if it only repeats history
Ownership
Who owns it
Promoters hold 74.37% as of Sept 2026; institutions added 0.00 pts since Jun 2026.
- Promoters 74.37%
- Foreign institutions 0.00%
- Domestic institutions 0.03%
- Government 0.00%
- Public 25.60%
Who is on the register
Named in the Sep 2026 filing
Every holder of Menon Pistons Limited above SEBI's 1% disclosure line, and what changed since Jun 2026.
| Holder | Stake | Change |
|---|---|---|
| 28.24% | unchanged | |
| 14.20% | unchanged | |
| 8.25% | unchanged | |
| 8.25% | unchanged | |
| 8.25% | unchanged | |
| 7.17% | unchanged | |
| — | off the list |
A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.
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