Munjal Showa profit triples to Rs 8.826 crore in September quarter

Munjal Showa Limited reported profit after tax of Rs 8.826 crore for the quarter ended September 30, 2026, up from Rs 2.7281 crore a year earlier, as revenue from operations rose 19.6% to Rs 397.9805 crore. The board approved the unaudited standalone results on November 13, 2026.

Why did Munjal Showa’s September-quarter profit rise?

Munjal Showa’s profit after tax increased more than threefold year on year because profit before tax rose to Rs 11.9413 crore from Rs 3.9483 crore in the quarter ended September 30, 2025. The September 2026 quarter contained no exceptional item, matching the prior-year quarter, while reported basic and diluted earnings per share rose to Rs 2.21 from Rs 0.68.

Revenue from operations was Rs 397.9805 crore in the September 2026 quarter, compared with Rs 332.6243 crore in the corresponding quarter a year earlier. Total income, including Rs 4.3102 crore of other income, reached Rs 402.2907 crore, against Rs 336.0073 crore in September 2025, a rise of Rs 66.2834 crore.

Material costs increased to Rs 312.5879 crore from Rs 260.4783 crore over the same comparison. Tax expense rose to Rs 3.1153 crore from Rs 1.2202 crore, comprising current tax of Rs 3.2867 crore and a deferred-tax credit of Rs 17.14 lakh; the prior-year quarter had a deferred-tax credit of Rs 9.91 lakh.

How did Munjal Showa compare with the June quarter?

Munjal Showa recorded higher operating revenue sequentially but lower profit after tax in the September quarter than in the June 2026 quarter. Revenue from operations increased to Rs 397.9805 crore from Rs 347.4981 crore, while profit after tax declined to Rs 8.826 crore from Rs 11.2258 crore.

Total income rose to Rs 402.2907 crore from Rs 360.57 crore because of the increase in operating revenue, although other income fell to Rs 4.3102 crore from Rs 13.0719 crore. Profit before tax was Rs 11.9413 crore in September, below Rs 12.8695 crore in June, showing that the revenue increase was not reflected in a higher reported pre-tax result.

The September quarter’s tax expense was Rs 3.1153 crore, compared with Rs 1.6437 crore in the June quarter. Total comprehensive income was Rs 8.7459 crore in September versus Rs 11.1457 crore in June, after an other-comprehensive expense of Rs 8.01 lakh in each quarter.

What did Munjal Showa report for the first half of FY27?

Munjal Showa reported profit after tax of Rs 20.0518 crore for the half year ended September 30, 2026, up from Rs 11.0098 crore in the corresponding half of the previous year. Revenue from operations increased 20.5% to Rs 745.4786 crore from Rs 618.6649 crore over the same six-month periods.

Total income for the first half reached Rs 762.8607 crore, compared with Rs 633.0616 crore a year earlier. Profit before tax rose to Rs 24.8108 crore from Rs 13.8296 crore, while total tax expense increased to Rs 4.759 crore from Rs 2.8198 crore.

Material costs for the half year were Rs 582.9918 crore, up from Rs 486.1384 crore. Other expenses increased to Rs 79.9726 crore from Rs 70.7052 crore, depreciation and amortisation rose to Rs 5.4084 crore from Rs 5.2594 crore, and finance costs were Rs 6.01 lakh compared with Rs 83,000.

Basic and diluted earnings per share for the first half were both Rs 5.01, compared with Rs 2.75 a year earlier, and the company said these figures were not annualised. The board’s FY26 final dividend of Rs 4.50 per share, aggregating Rs 17.9978 crore, was approved by shareholders at the August 24, 2026 annual general meeting.

What changed in Munjal Showa’s balance sheet?

Munjal Showa’s total assets were Rs 906.9916 crore as of September 30, 2026, compared with Rs 864.9358 crore at March 31, 2026. Current assets increased to Rs 689.4316 crore from Rs 647.7894 crore, while non-current assets were Rs 217.56 crore compared with Rs 217.1464 crore.

Inventories stood at Rs 104.353 crore at September 30, compared with Rs 83.2576 crore at the March year-end. Trade receivables rose to Rs 263.9395 crore from Rs 234.6573 crore, while current investments declined to Rs 298.5455 crore from Rs 318.4102 crore.

Total equity increased to Rs 679.921 crore from Rs 678.0271 crore, with equity share capital unchanged at Rs 7.9993 crore. Current liabilities rose to Rs 213.5211 crore from Rs 174.2813 crore, including Rs 52.7263 crore due to micro and small enterprises, compared with Rs 35.908 crore at March 31.

Cash and cash equivalents were Rs 8.4601 crore at September 30, 2026. Deloitte Haskins & Sells LLP conducted a limited review of the interim results and said nothing had come to its attention that caused it to believe the statement contained a material misstatement.

What does Munjal Showa disclose about its business structure?

Munjal Showa disclosed one reportable operating segment, auto components, under Indian Accounting Standard 108, Operating Segments. The filing consequently does not provide separate revenue or profit figures for struts, shock absorbers, front forks, gas springs or window balancers.

Munjal Showa also stated that it had no subsidiary, associate or joint venture as of September 30, 2026. The September-quarter and half-year figures are therefore standalone results, rather than consolidated financial results covering additional entities.

Conclusion

Munjal Showa’s September-quarter profit rose faster than its revenue on a year-on-year basis, with profit after tax reaching Rs 8.826 crore as operating revenue increased to Rs 397.9805 crore. The first-half figures showed the same direction, with profit after tax of Rs 20.0518 crore and operating revenue of Rs 745.4786 crore, although September-quarter profit was below the June-quarter result.

The filing gives no forward revenue or profit target. The next result will show whether operating revenue, material costs of Rs 312.5879 crore in the September quarter, inventories of Rs 104.353 crore and trade receivables of Rs 263.9395 crore change further after September 30, 2026.