Any current/future new fundraising through debt or equity?

Menon Bearings Ltd. currently holds total debt from Bajaj Finance, which has been entirely kept as a deposit in the bank (₹22 crores in cash and bank balances), effectively making the company debt-free. There is no mention of any current or planned fundraising through additional debt. No indication or announcement related to equity fundraising was discussed in the call. The company focuses on organic growth and capacity expansion using existing resources. Management emphasized plans to grow at 18% CAGR over the next three years without referencing external fundraising. Overall, the company app

Any current/future capex/capital investment/strategic investment?

Bearing division expansion is already completed and functional. Aluminium division (Alkop) expansion was delayed due to heavy rains, expected to be completed by end of December 2024 and operational by January 2025. No additional CapEx is required for business related to German luxury car manufacturer, airport, and railway sectors, as existing capacities can accommodate this growth. Expected incremental revenue of about ₹75 crores from the ongoing expansions. The company has received RFQs worth ₹150 crores which will translate to business over next 1.5 years, indicating planned capacity

Future growth expectations in sales/revenue/volumes?

The company expects a CAGR of 18% in consolidated revenue over the next three years. Revenue target is around ₹350 crores by FY26/FY27 with improved margins. Aluminium division (Alkop) is expected to grow by 20% next year, supported by a ₹83 crore order pipeline. Bearing division also has a ₹65 crore order pipeline and expects robust growth. Brakes business is growing and anticipated to reach ₹7-8 crores annually soon, driven by 50% export share. Expansion projects adding capacity should contribute approximately ₹75 crores in additional revenue. EV segment trials underway, expected to start co

Future growth expectations in earnings/operating earnings/profits/EPS?

The company targets a year-on-year growth rate of approximately 18% for the next three years (up to FY '26-'27). They expect consolidated revenue to reach around ₹350 crores by FY '26-'27. Margins are anticipated to improve from the current ~21% to around 22% next year and further up to 23% by FY '26-'27. Operating margins are expected to remain strong, supported by increased exports and new business lines such as EV components and braking systems. Incremental revenue of about ₹75 crores is projected post-capacity expansion. EPS and profitability outlook align with the targeted reven

Current/ Expected Orderbook/ Pending Orders?

Current order book for the year is ₹250 crores (Page 12). RFQs (Request for Quotations) amount to ₹150 crores in total, mostly for exports (Page 15). RFQs are over and above the current order book (Page 12). Orders across Alkop and Bi-metal business together constitute this order book and pipelines (Page 12). RFQs of ₹150 crores are expected to be converted into business over 1.5 years (Page 6). Expected additional business of ₹75 crores post capacity expansions (Page 10).

Menon Bearings LtdQ2 FY25Auto Components

Menon Bearings Ltd Q2 FY25 Earnings Call Analysis

Revenue, margin, capex, fundraise and order book outlook from management commentary.

Price: ₹252.35P/E: 32.1Market Cap: ₹1.4K CrSector: Auto Components

Management growth scorecard

Revenue

Category 3

Margin

Category 1

Fundraise

N/A

Order

Yes

Capex

Yes

3 of 4 growth signals are positive.

Full analysis

Revenue guidance

Category 3

The company expects a CAGR of 18% in consolidated revenue over the next three years.
Revenue target is around ₹350 crores by FY26/FY27 with improved margins.
Aluminium division (Alkop) is expected to grow by 20% next year, supported by a ₹83 crore order pipeline.
Bearing division also has a ₹65 crore order pipeline and expects robust growth.
Brakes business is growing and anticipated to reach ₹7-8 crores annually soon, driven by 50% export share.
Expansion projects adding capacity should contribute approximately ₹75 crores in additional revenue.
EV segment trials underway, expected to start contributing by FY25/FY26.
Railway brake block business expected to start next year and become sizable quickly.
Exports are growing steadily, with over ₹100 crores RFQs mainly for exports.

Margin guidance

Category 1

The company targets a year-on-year growth rate of approximately 18% for the next three years (up to FY '26-'27).
They expect consolidated revenue to reach around ₹350 crores by FY '26-'27.
Margins are anticipated to improve from the current ~21% to around 22% next year and further up to 23% by FY '26-'27.
Operating margins are expected to remain strong, supported by increased exports and new business lines such as EV components and braking systems.
Incremental revenue of about ₹75 crores is projected post-capacity expansion.
EPS and profitability outlook align with the targeted revenue and margin expansion, reflecting a positive earnings growth trajectory.
The company foresees good business ramp-up from EV segments and export markets, supporting enhanced profitability.

See what Menon Bearings Ltd management said on margin guidance — free account, 30 seconds.

Fundraise plans

Menon Bearings Ltd. currently holds total debt from Bajaj Finance, which has been entirely kept as a deposit in the bank (₹22 crores in cash and bank balances), effectively making the company debt-free.
There is no mention of any current or planned fundraising through additional debt.
No indication or announcement related to equity fundraising was discussed in the call.
The company focuses on organic growth and capacity expansion using existing resources.
Management emphasized plans to grow at 18% CAGR over the next three years without referencing external fundraising.
Overall, the company appears financially self-reliant with no immediate plans for new fundraising through debt or equity.

Order book

Yes

Current order book for the year is ₹250 crores (Page 12).
RFQs (Request for Quotations) amount to ₹150 crores in total, mostly for exports (Page 15).
RFQs are over and above the current order book (Page 12).
Orders across Alkop and Bi-metal business together constitute this order book and pipelines (Page 12).
RFQs of ₹150 crores are expected to be converted into business over 1.5 years (Page 6).
Expected additional business of ₹75 crores post capacity expansions (Page 10).

See what Menon Bearings Ltd management said on order book — free account, 30 seconds.

Capex plans

Yes

Bearing division expansion is already completed and functional.
Aluminium division (Alkop) expansion was delayed due to heavy rains, expected to be completed by end of December 2024 and operational by January 2025.
No additional CapEx is required for business related to German luxury car manufacturer, airport, and railway sectors, as existing capacities can accommodate this growth.
Expected incremental revenue of about ₹75 crores from the ongoing expansions.
The company has received RFQs worth ₹150 crores which will translate to business over next 1.5 years, indicating planned capacity utilization but no explicit statement about new CapEx beyond current expansions.
Focus on strategic growth in exports, braking business, and new products like EV components within existing or expanded capacity.

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