Munjal Showa LimitedQ1 FY27 Results & Financial Update
Munjal Showa Limited: Q1 FY27 standalone results and company financials – revenue ₹347.50 Cr, PAT ₹11.23 Cr. Explore reported YoY/QoQ movements, margins, business drivers and management commentary. This page does not provide a rating, target price or investment recommendation.
Quarter at a glanceCurrent reported figures.Change figures appear when a comparable reported period is available.
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Quarterly Results AnalysisExplore Munjal Showa Q1 FY27 quarterly results and earnings: revenue, profit (PAT), EBITDA, margins, YoY and QoQ growth, order book or business updates where reported, financial performance and management commentary. Reported figures and Nivata calculations are shown separately; no buy, sell or hold recommendation is provided.
Quarter overview
Quarterly earnings analysis
For the quarter ended June 30, 2026 (Q1 FY27), Munjal Showa reported a revenue from operations of INR 347.50 crore, marking a sequential stabilization from INR 347.07 crore in Q4 FY26 and a significant expansion from INR 286.04 crore in Q1 FY25.
Total income for the quarter reached INR 360.57 crore, bolstered by other income of INR 13.07 crore which increased notably compared to INR 3.89 crore in the preceding March 2026 quarter and INR 11.01 crore in the corresponding period of the previous year.
Profit before tax (PBT) before exceptional items surged to INR 12.87 crore, rebounding sharply from INR 0.94 crore in Q4 FY26 and INR 9.88 crore in Q1 FY25, driven by tighter control over operating overheads and inventory adjustments.
The company recorded a net profit after tax (PAT) of INR 11.23 crore for Q1 FY27, recovering firmly from a negligible net loss of INR 0.05 crore in the March 2026 quarter and rising above the INR 8.28 crore reported in Q1 FY25.
Basic and diluted earnings per share (EPS) for the quarter stood at INR 2.81 (not annualized), improving from negative INR 0.01 in Q4 FY26 and INR 2.07 in Q1 FY25, reflecting the enhanced bottom-line profitability.
Total expenses for the quarter were held at INR 347.70 crore, helped by positive inventory changes of INR 3.60 crore (reflecting accretion in finished goods and work-in-progress inventories) contrasting with negative inventory adjustments in prior quarters.
Finance costs were reported at nil for the quarter, down from INR 0.12 crore in Q4 FY26, while depreciation and amortization expenses remained stable at INR 2.65 crore.
01 · Business model
What does Munjal Showa do?
Munjal Showa Limited operates in the auto components sector, manufacturing world-class automotive suspension components in technical collaboration with Astemo Limited (formerly known as Hitachi Astemo Limited).
The company's primary product portfolio includes struts, shock absorbers, front forks, and gas springs-window balancers, catering to major automotive original equipment manufacturers (OEMs).
Munjal Showa functions on a standalone corporate structure with registered operations and works situated in Gurugram, Haryana, without any active subsidiaries, joint ventures, or associates during the reported period.
02 · Historical context
What shaped the business before this quarter
For the full financial year ended March 31, 2026, the company achieved an annual revenue from operations of INR 1,315.42 crore and a net profit of INR 21.87 crore, alongside an exceptional charge of INR 2.20 crore.
03 · Financial snapshot
Current-quarter financial snapshot
| Metric | Q1 FY27 |
|---|---|
| Revenue from operations | ₹347.50 Cr |
| Total income | ₹360.57 Cr |
| Profit before tax | ₹12.87 Cr |
| Profit after tax | ₹11.23 Cr |
| EPS | ₹2.81 |
Financial interpretation
What the reported numbers mean
Profit after tax represented 3.2% of reported quarterly operating revenue. This is a calculated net-profit-to-sales ratio, not a company-reported operating margin. It measures the outcome after expenses and tax; it does not, by itself, establish how margins changed versus another period.
Profit before tax was equivalent to 3.7% of quarterly operating revenue. The distinction between pre-tax and post-tax profit matters when interpreting earnings; neither ratio identifies an underlying cost driver without a properly matched comparative period.
Total income exceeded operating revenue by ₹13.07 crore. This is the disclosed difference between the two lines, not incremental sales. The distinction matters when assessing how much of the quarter’s reported income came from the operating top line.
Ratios above are calculated from the reported quarterly figures. They are analytical descriptions, not company-reported margin guidance or an investment recommendation.
04 · Why it moved
Why the quarter looked the way it did
What drove revenue
Revenue from operations reached INR 347.50 crore during Q1 FY27, reflecting steady volume off-take from automotive OEM customers for suspension systems.
Other income expanded to INR 13.07 crore, contributing meaningfully to total income of INR 360.57 crore.
What drove margins
Cost of materials consumed stood at INR 270.40 crore, while a positive inventory variation of INR 3.60 crore for finished goods and work-in-progress provided cost absorption relief.
Employee benefits expense was reported at INR 33.82 crore, and other expenses stood at INR 37.23 crore, down from INR 46.38 crore in Q4 FY26.
Depreciation and amortisation expenses were maintained at INR 2.65 crore, while finance costs dropped to negligible levels during the quarter.
05 · Segments, products & geography
Which parts of the business are doing the work
Segments and products
The company's business activities fall entirely within a single primary business segment, namely auto components, as per Ind-AS 108 governing operating segments.
06 · Strategy & new businesses
How the company is trying to change its growth mix
The company maintains no subsidiaries, associates, or joint venture companies as of June 30, 2026.
07 · Reported developments
What changed operationally
PAT recovered to INR 11.23 crore in Q1 FY27 from a nominal loss position in Q4 FY26.
08 · Previous-quarter changes
What changed since the previous quarter
PBT climbed from INR 0.94 crore in Q4 FY26 to INR 12.87 crore in Q1 FY27, aided by reduced other expenses.
09 · Key Q&A
The quarter, answered directly
What does Munjal Showa do?
Munjal Showa Limited operates in the auto components sector, manufacturing world-class automotive suspension components in technical collaboration with Astemo Limited (formerly known as Hitachi Astemo Limited).
What is the clearest takeaway from Q1 FY27?
For the quarter ended June 30, 2026 (Q1 FY27), Munjal Showa reported a revenue from operations of INR 347.50 crore, marking a sequential stabilization from INR 347.07 crore in Q4 FY26 and a significant expansion from INR 286.04 crore in Q1 FY25.
What drove revenue or demand?
Revenue from operations reached INR 347.50 crore during Q1 FY27, reflecting steady volume off-take from automotive OEM customers for suspension systems.
What mattered most for margins or profitability?
Cost of materials consumed stood at INR 270.40 crore, while a positive inventory variation of INR 3.60 crore for finished goods and work-in-progress provided cost absorption relief.
What changed operationally beyond the headline numbers?
The company maintains no subsidiaries, associates, or joint venture companies as of June 30, 2026.
What should the next disclosure help confirm?
Monitor upcoming quarterly financial filings for sustained demand momentum in two-wheeler and four-wheeler suspension volumes.
10 · Scenario calculator
Earnings sensitivity: what if growth and margins change?
Starting point
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11 · Next filing checkpoints
What the next disclosure can confirm or change
- 01
Subsequent Financial Disclosures: Monitor upcoming quarterly financial filings for sustained demand momentum in two-wheeler and four-wheeler suspension volumes.
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Use Nivata’s plain-English guides to understand the accounting terms used in this brief before interpreting them.