Munjal Auto Q2 PBT falls 61% after Rs 4.92 crore loss

Munjal Auto Industries Limited reported consolidated profit before tax of Rs 13.90 crore for the quarter ended September 30, 2026, down 61% from Rs 35.21 crore in the preceding quarter, after recording an unrealised Rs 4.92 crore mark-to-market loss on investments. Revenue from operations increased to Rs 809.28 crore from Rs 699.01 crore.

What were Munjal Auto's consolidated Q2 results?

Munjal Auto reported consolidated revenue from operations of Rs 809.28 crore in the quarter ended September 30, 2026, compared with Rs 699.01 crore in the quarter ended June 30, 2026 and Rs 584.09 crore a year earlier. Revenue therefore rose Rs 110.26 crore sequentially and Rs 225.19 crore year on year. Total income was Rs 812.88 crore, compared with Rs 719.40 crore in June 2026 and Rs 595.42 crore in September 2025.

Consolidated profit before tax and exceptional items was Rs 13.90 crore, versus Rs 35.21 crore in the preceding quarter and Rs 12.61 crore in the year-earlier quarter. The September 2026 quarter contained no exceptional item, leaving reported profit before tax unchanged at Rs 13.90 crore. The quarterly decline was Rs 21.31 crore, while profit before tax was Rs 1.29 crore higher than in September 2025.

Profit attributable to Munjal Auto's owners was Rs 8.65 crore for the September quarter, down from Rs 28.93 crore in June 2026 and Rs 11.20 crore a year earlier. Basic earnings per share were Rs 0.76, compared with Rs 2.58 in the preceding quarter and Rs 1.12 in September 2025. The consolidated results cover Munjal Auto and its subsidiary, Indutch Composites Technology Private Limited.

Why did Munjal Auto's profit before tax fall sequentially?

Munjal Auto recognised an unrealised mark-to-market loss of Rs 4.92 crore on investments during the September 2026 quarter, with the amount classified under other expenses. In the June 2026 quarter, it had recognised an unrealised mark-to-market gain of Rs 16.23 crore on mutual-fund investments under other income. The shift between those two reporting dates was Rs 21.15 crore adverse.

The filing says the June gain arose from fair-value requirements and fluctuations in market or net asset value prices at the reporting date. It describes the September loss as unrealised as well, rather than identifying it as a realised loss on disposal. The filing does not quantify the precise contribution of this valuation movement to the Rs 21.31 crore sequential reduction in profit before tax after all other income and expense changes.

Other income declined to Rs 3.61 crore in September from Rs 20.38 crore in June, a fall of Rs 16.78 crore. Total expenses increased to Rs 798.98 crore from Rs 684.17 crore, while total income rose by Rs 93.48 crore. The higher expense base and lower other income accompanied the reversal in investment valuation and the lower quarterly profit before tax.

Which Munjal Auto segments drove quarterly revenue and profit?

Munjal Auto's Auto Components segment generated September-quarter revenue of Rs 490.36 crore, compared with Rs 415.39 crore in June 2026 and Rs 374.44 crore a year earlier. Composite Products and Moulds generated Rs 318.92 crore, compared with Rs 283.63 crore in June and Rs 209.64 crore in September 2025. Both operating segments increased revenue sequentially, producing group revenue of Rs 809.28 crore.

The segment-result trend differed from the revenue trend. Auto Components reported a segment result before interest and tax of Rs 2.86 crore, down from Rs 22.76 crore in June, while Composite Products and Moulds reported Rs 21.45 crore, compared with Rs 22.84 crore. Combined segment result consequently declined to Rs 24.31 crore from Rs 45.60 crore.

Finance cost was Rs 10.41 crore in the September quarter, nearly unchanged from Rs 10.39 crore in June and above Rs 9.71 crore a year earlier. After finance cost, the group reported Rs 13.90 crore of profit before tax. The segment disclosure does not allocate the Rs 4.92 crore investment valuation loss between Auto Components and Composite Products and Moulds.

How did Munjal Auto perform in the first half?

Munjal Auto reported consolidated revenue from operations of Rs 1,508.29 crore for the half year ended September 30, 2026, compared with Rs 1,075.10 crore in the prior-year half. Auto Components contributed Rs 905.75 crore and Composite Products and Moulds contributed Rs 602.55 crore during the six-month period. The group revenue increase was Rs 433.19 crore year on year.

Consolidated profit before tax and exceptional items was Rs 49.11 crore for the first half, compared with Rs 30.19 crore in the half year ended September 30, 2025. The current half contained no exceptional item. The result means first-half profit before tax increased despite the sequential fall in the September quarter.

The prior-year half included Rs 10.84 crore of exceptional income, while the September 2026 half had no exceptional item. Munjal Auto said the earlier amount was insurance-claim income recognised by the subsidiary in the quarter ended June 30, 2025. Profit before tax before exceptional items therefore provides the disclosed like-for-like comparison between the two half-year periods.

Conclusion

Munjal Auto's September-quarter outcome combined revenue growth with a sharp sequential decline in profit before tax. Both operating segments raised revenue, taking consolidated revenue to Rs 809.28 crore, but combined segment result fell by Rs 21.29 crore and investment valuation moved from a Rs 16.23 crore June gain to a Rs 4.92 crore September loss.

The next reporting date will clarify whether mutual-fund valuations move again, because Munjal Auto says the reported gains and losses reflect market or net asset value prices and are unrealised. The next result will also show whether Auto Components improves from its September segment result of Rs 2.86 crore after reporting Rs 22.76 crore in June.