Menon Bearings Limited (MENONBE.NS) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

-27.5%

₹230.10

vs ₹317.30 price

Levered DCF

₹415.55

After debt service

Piotroski score

5 / 9

Average

Altman Z-score

14.06

Safe zone

Rating

A-

Overall 4 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
P/E	15.03×	20.4×	27.18×	16.57×	20.29×	16×	12.02×	18.6×
P/B	3.1×	3.21×	4.57×	4.05×	4.45×	3.04×	1.96×	5.19×
P/S	1.96×	1.48×	3.13×	3.88×	2.55×	2.02×	1.28×	2.74×
EV / EBITDA	10.36×	19.83×	14.91×	10.15×	14.05×	11.38×	6.52×	11.29×
Gross margin	23.1%	71.5%	59.9%	37.1%	50.3%	57.7%	59.9%	56.1%
Operating margin	16.6%	12.3%	19.5%	31.8%	17.6%	18.8%	15.5%	22.1%
Net margin	13.0%	7.3%	11.5%	23.4%	12.6%	12.7%	10.6%	14.7%
Current ratio	2.51×	2.46×	2.78×	2.81×	2.07×	1.84×	1.79×	2.17×
Debt / equity	0.25×	0.27×	0.24×	0.11×	0.21×	0.3×	0.44×	0.5×
Interest coverage	9.6×	11.24×	12.64×	15.2×	13.24×	7.83×	4.6×	10.72×
Dividend yield	1.9%	2.2%	1.9%	2.1%	2.3%	2.8%	9.7%	2.1%
Payout ratio	29.3%	44.9%	51.8%	34.4%	45.7%	44.7%	117.1%	38.8%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	20.6%	15.7%	16.8%	24.4%	21.9%	19.0%	16.3%	27.9%
Return on invested capital	15.7%	15.2%	16.5%	22.4%	18.6%	16.0%	11.9%	19.0%
Return on assets	14.3%	10.8%	11.8%	18.8%	15.0%	12.1%	9.6%	16.0%
Free cash flow yield	-1.4%	-0.8%	1.5%	6.7%	3.6%	2.9%	4.3%	-0.4%
Earnings yield	6.7%	4.9%	3.7%	6.0%	4.9%	6.3%	8.3%	5.4%
Enterprise value	₹6.1B	₹5.3B	₹6.7B	₹5.4B	₹5.1B	₹3.2B	₹2B	₹5B
Net debt / EBITDA	0.58×	0.85×	0.23×	0.06×	0.44×	0.81×	0.94×	0.64×
Cash conversion cycle (days)	137	112	138	169	136	132	138	115