MUNJALSHOW
Munjal Showa financials
- Market cap
- ₹504 Cr
What Munjal Showa Limited does
Munjal Showa Limited manufactures automotive suspension components — struts, shock absorbers, front forks, and gas springs/window balancers — supplied to two-wheeler and four-wheeler customers in India. The company operates under a technical and financial collaboration with Astemo Ltd, Japan (formerly Hitachi Astemo Limited, tracing back to Showa Corporation), drawing on Japanese suspension technology. Manufacturing is spread across three plants at Gurugram, Manesar (both Haryana) and Haridwar (Uttarakhand).
Segments
- Automotive suspension components
- Manufacturing plants
- 3 (Gurugram & Manesar, Haryana; Haridwar, Uttarakhand)
- Core product lines
- 4 (Struts, Shock Absorbers, Front Forks, Gas Springs/Window Balancers)
- Technical & financial collaborator
- Astemo Ltd, Japan (formerly Hitachi Astemo Limited)
- End-market segments served
- Two-wheeler and four-wheeler vehicles
Quarterly results
Q1 FY27: revenue up 21.7%, net profit up 37.5% against the same quarter last year.
| Line item | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 318 | 319 | 303 | 286 | 333 +5% | 350 +10% | 347 +15% | 348 +22% |
| EBITDA | -5 | 8 | 7 | 2 | 3 +160% | 12 +50% | 0 −100% | 2 +0% |
| Net profit | 2 | 6 | 9 | 8 | 3 +50% | 11 +83% | 0 −100% | 11 +38% |
How to read this
₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.
Performance −9.2% 1Y
1Y: ₹140.65 on 10 Sept 2025 → ₹127.66. High ₹146.07 (24 Sept 2025), low ₹110.46 (30 Mar 2026).
Financials, as filed
Revenue grew 2.0% a year over 3 years, FY23 to FY26. Operating margin narrowed to 1.3%.
| Year ending | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Revenue | ₹1.2k Cr | ₹1.2k Cr | ₹1.3k Cr | ₹1.3k Cr |
| Operating profit | ₹30 Cr | ₹15 Cr | ₹17 Cr | ₹17 Cr |
| Operating margin | 2.4% | 1.3% | 1.4% | 1.3% |
| Interest | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr |
| Depreciation | ₹12 Cr | ₹12 Cr | ₹12 Cr | ₹12 Cr |
| Net profit | ₹32 Cr | ₹32 Cr | ₹29 Cr | ₹22 Cr |
| Net margin | 2.6% | 2.7% | 2.3% | 1.7% |
| Cash from operations | ₹6 Cr | ₹11 Cr | ₹37 Cr | ₹-21 Cr |
| Free cash flow | ₹-6 Cr | ₹8 Cr | ₹31 Cr | ₹-27 Cr |
| ROCE | 5.0% | 5.0% | 0.0% | 5.0% |
How to read this
From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.
Balance sheet
| Year ending | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| Equity capital | ₹8 Cr | ₹8 Cr | ₹8 Cr | ₹8 Cr | ₹8 Cr | ₹8 Cr |
| Reserves | ₹633 Cr | ₹629 Cr | ₹643 Cr | ₹656 Cr | ₹659 Cr | ₹670 Cr |
| Borrowings | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr |
| Other liabilities | ₹160 Cr | ₹148 Cr | ₹159 Cr | ₹146 Cr | ₹178 Cr | ₹187 Cr |
| Total liabilities | ₹801 Cr | ₹786 Cr | ₹811 Cr | ₹811 Cr | ₹845 Cr | ₹865 Cr |
| Fixed assets | ₹134 Cr | ₹125 Cr | ₹129 Cr | ₹123 Cr | ₹114 Cr | ₹113 Cr |
| Capital work in progress | ₹1 Cr | ₹6 Cr | ₹2 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr |
| Investments | ₹292 Cr | ₹307 Cr | ₹313 Cr | ₹322 Cr | ₹325 Cr | ₹347 Cr |
| Other assets | ₹374 Cr | ₹349 Cr | ₹367 Cr | ₹366 Cr | ₹405 Cr | ₹405 Cr |
| Total assets | ₹801 Cr | ₹786 Cr | ₹811 Cr | ₹811 Cr | ₹845 Cr | ₹865 Cr |
How to read this
As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.
Who owns it
As disclosed at Jun 2026
Since Jun 2025, FIIs trimmed −1.40 pp while the public added +1.40 pp. The shareholder count shrank 5% to 29,096.
- Promoters
- 65.0%
- FIIs
- 0.1%
- DIIs
- 0.0%
- Public
- 34.9%
Since Jun 2025
- FIIs −1.40 pp
- Public +1.40 pp
- Promoters 0.00 pp
How it drifted, 12 quarters
Over this window the public went from 33.7% to 34.9% — +1.1 pp.
Ownership split by quarter, oldest first. Sep '23: Promoters 65.0%, FIIs 1.3%, DIIs 0.0%, Public 33.7%.Dec '23: Promoters 65.0%, FIIs 1.3%, DIIs 0.0%, Public 33.7%.Mar '24: Promoters 65.0%, FIIs 1.3%, DIIs 0.0%, Public 33.7%.Jun '24: Promoters 65.0%, FIIs 1.6%, DIIs 0.0%, Public 33.4%.Sep '24: Promoters 65.0%, FIIs 1.8%, DIIs 0.0%, Public 33.1%.Dec '24: Promoters 65.0%, FIIs 1.8%, DIIs 0.0%, Public 33.2%.Mar '25: Promoters 65.0%, FIIs 2.2%, DIIs 0.0%, Public 32.8%.Jun '25: Promoters 65.0%, FIIs 1.5%, DIIs 0.0%, Public 33.5%.Sep '25: Promoters 65.0%, FIIs 1.4%, DIIs 0.0%, Public 33.6%.Dec '25: Promoters 65.0%, FIIs 0.2%, DIIs 0.0%, Public 34.8%.Mar '26: Promoters 65.0%, FIIs 0.1%, DIIs 0.0%, Public 34.9%.Jun '26: Promoters 65.0%, FIIs 0.1%, DIIs 0.0%, Public 34.9%.
Who bought this quarter
since Mar 2026
Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.
- Zaki Abbas Nasser +0.05 pp 1.51% held
The same filing shows 0 holders trimming and 0 off the list — both are in the register beside this.
Who is on the register
Named in the Jun 2026 filing
Every holder of Munjal Showa Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.
| Holder | Stake | Change |
|---|---|---|
| Dayanand Munjal Investments Private Limited | 40.10% | unchanged |
| Hitachi Astemo Ltd | 24.90% | unchanged |
| Zaki Abbas Nasser | 1.51% | +0.05 pp |
| Nidhi Kapoor | 0.01% | unchanged |
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.
Learn to analyse Munjal Showa Limited
Guides on how to read this kind of business and the numbers that matter.