Menon bearings

CMP: 43.20


Menon Bearings Ltd. established in 1991, is one of the few companies in the continent having fully integrated manufacturing facilities under one roof, to produce a wide range of critical auto components like bi-metal Engine bearings, Bushes & Thrust Washers for light & heavy automobile engines, two wheeler engines as well as for compressors, refrigerators, air conditioners etc. MBL is Listed on the BSE ( Bombay Stock Exchange ) & is globally positioned with business activities spanning 24 countries around the globe. Exporting 35 % of its production capacity, with exports growth at more than 25 % per annum, the engineering capabilities at MBL enjoys strong brand equity among leading OEM`s all over the world.
The Quality Management System of Menon Bearings Limited.
is certified by TUV for ISO-TS-16949: 2002 standards.
The company is in the process of installation of new plant and machinery imported from Israel for mfg of large dia bearings for heavy duty applications.

FINANCIALS:
Sales improved vastly from 34.70 cr to 87.95 cr and NP from 2.85cr to 7.40 cr during 2008 to 2012. Though NPM has almost remained stagnant at 8% ROCE has dramatically improved from 16.86 to24.60 while D/E came down from 1.11 to 0.68.B.V stands at 33.78. Dividend pay out was 55% for FY 12.

The scrip appears to have good scope for appreciation.