Menon Bearings calls ₹360 cr FY27 target conservative after record Q1

Tipsheet Editorial — Fri, 17 Jul 2026 15:16:43 GMT

Brake unit EBITDA hits 25% on mix; North America entry with Magna, Allison expected in H2

What’s new

Record Q1: standalone revenue up 40.4% to ₹67.1 cr, net profit up 67.4% to ₹14.1 cr
Brake division EBITDA margin unexpectedly hit 25%; management targets sustainable ~20%
US/Canada market entry planned with Magna and Allison Transmission; initial orders expected in Q3/Q4

Why it matters

Menon is firing on all cylinders after a record Q1. The ₹360 cr FY27 revenue target, called conservative, implies ~34% growth from a strong base. Export share target of 37% (from 24-30%) and a new continent entry signal a step-change in scale. The only caution: brake margins won't stay at 25%.

What we’re watching

Whether export ramp to 37% materializes by next year
Timing of first North American orders from Magna/Allison
Capex of ₹9-10 cr for bi-metal division and its impact on capacity

The full read

Menon Bearings just posted a record quarter – standalone revenue up 40.4% to ₹67.1 crore and consolidated net profit up 67.4% to ₹14.1 crore. That's the headline. The more telling signal: management called the ₹360 crore full-year revenue target conservative. This isn't guidance; it's aspiration backed by momentum. The brake division's 25% EBITDA margin arrived as a surprise from product mix – unsustainable, with a 20% target. The real story is geographic expansion: initial engine bearing orders from Magna and Allison Transmission in Q3/Q4 would open North America, while the export share target of 37% (from 24-30% ) implies a structural shift. Capex of ₹9-10 crore for bi-metal is modest. At ₹897 crore market cap and a P/E of 23.5x, growth is already priced in – but the call suggests there's more to come.

Primary source: BSE · NSE

Menon Bearings Q1 profit jumps 67%, revenue up 37%

Tipsheet Editorial — Thu, 16 Jul 2026 12:48:47 GMT

The bearings maker posts ₹14.1 cr net profit on ₹94.3 cr revenue. Board declares ₹2/share interim dividend.

What’s new

Consolidated revenue grew 37% to ₹94.3 cr for June quarter
Net profit surged 67% to ₹14.1 cr on higher volumes and cost control
Interim dividend of ₹2 per share (200%) declared, record date 22 July

Why it matters

Profit grew at nearly twice the pace of revenue, the kind of imbalance that shows cost growth lagged sales growth. The dividend was largely telegraphed; the earnings trajectory is the real story.

What we’re watching

Sustainability of volume growth in an auto-cycle that remains mixed
Raw-material cost trends and their impact on gross margins
Any commentary on order book or export momentum from the concall

The full read

Menon Bearings delivered a clean beat. Revenue: ₹94.3 crore, up 37%. Profit: ₹14.1 crore, a 67% surge. That's profit growing at nearly twice the rate of revenue — a sign costs lagged sales. Hardly a surprise, the ₹2 interim dividend (payout ₹11.2 crore) was telegraphed. With trailing ROE at 15.7% and debt at 0.26 times equity, the company has the balance sheet to sustain this compounding. For a bearings manufacturer riding a mixed auto-cycle, revenue growth of 37% and profit growth nearly double that is the kind of result that justifies the 23.5 times trailing P/E the stock commands.

Primary source: BSE · NSE

Menon Bearings Ltd. (MENONBE) — Tipsheet

Menon Bearings calls ₹360 cr FY27 target conservative after record Q1

What’s new

Why it matters

What we’re watching

The full read

Menon Bearings Q1 profit jumps 67%, revenue up 37%

What’s new

Why it matters

What we’re watching

The full read