Munjal Showa Reports Mixed Q2 Results with Revenue Growth and Higher VRS Costs

Munjal Showa Limited , a leading auto components manufacturer, has released its financial results for the quarter ended September 30, 2025, showcasing a mixed performance with revenue growth and increased expenses due to voluntary retirement scheme (VRS) costs.

Revenue and Profitability

The company reported a revenue from operations of Rs. 33,262.43 lakhs for Q2 FY2026, representing a 4.69% increase compared to Rs. 31,772.05 lakhs in the same quarter of the previous year. The profit after tax (PAT) for the quarter stood at Rs. 272.81 lakhs, a 32.89% increase from Rs. 205.37 lakhs in Q2 FY2025.

Financial Highlights

Particulars (in Rs. lakhs)	Q2 FY2026	Q2 FY2025	YoY Change (%)
Revenue from Operations	33,262.43	31,772.05	4.69%
Total Income	33,600.73	32,692.69	2.78%
Total Expenses	33,205.90	32,606.46	1.84%
Profit Before Tax	394.83	86.23	357.89%
Profit After Tax	272.81	205.37	32.89%

Expense Analysis

The company's total expenses for Q2 FY2026 increased to Rs. 33,205.90 lakhs, up by 1.84% from Rs. 32,606.46 lakhs in the corresponding quarter of the previous year. Notably, the expenses for the quarter were higher by Rs. 322.51 lakhs due to separation costs paid to employees opting for the Voluntary Retirement Scheme (VRS) under the existing program.

Operational Performance

Munjal Showa continues to operate as a single reportable segment in the auto components sector. The company manufactures struts, shock absorbers, front forks, and gas springs-window balancers in collaboration with Astemo Limited (formerly known as Hitachi Astemo Limited).

Management Commentary

Yogesh Chander Munjal, Managing Director of Munjal Showa Limited, stated, "Our Q2 results reflect the resilience of our business model in a challenging environment. While we have seen growth in our revenue, we have also invested in our future by implementing the VRS, which we believe will enhance our operational efficiency in the long term."

Key Appointments

The Board of Directors has approved two significant appointments:

Mr. Ravinder Sharma has been appointed as Company Secretary & Compliance Officer, designated as Key Managerial Personnel, effective November 14, 2025.
Mr. Vipin Yadav has been appointed as Vice President – Operations, bringing over 26 years of experience in manufacturing operations and leadership in the automotive sector.

Dividend Information

The Board had previously approved a final dividend of 225% (Rs. 4.5 per share with a nominal value of Rs. 2 each) for the financial year 2024-25, which was subsequently approved by shareholders at the Annual General Meeting held on August 20, 2025.

Conclusion

Munjal Showa's Q2 FY2026 results present a picture of growth tempered by strategic investments in workforce restructuring. The increase in revenue and profitability, despite higher VRS-related expenses, suggests that the company is navigating the current market conditions while positioning itself for future operational efficiencies.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
+1.09%	+1.61%	-2.92%	-9.16%	-14.81%	-14.66%

Munjal Showa , a prominent manufacturer of struts, shock absorbers, and front forks, has announced the resignation of Neha Bansal from her position as Company Secretary and Compliance Officer. The resignation, effective August 23, 2025, was disclosed in a regulatory filing to the stock exchanges.

Key Details of the Resignation

Effective Date: August 23, 2025 (close of business hours)
Reason: Personal reasons
Additional Positions Relinquished:
- Key Managerial Personnel
- Nodal Officer for IEPF Authority
- Chairperson of the Internal Committee for Prevention of Sexual Harassment

Company's Disclosure

In compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, Munjal Showa informed the BSE and National Stock Exchange of India about Bansal's resignation. The company provided details as required by SEBI Circular No. SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023.

Neha Bansal's Statement

In her resignation letter, Bansal expressed gratitude for the opportunity to work with Munjal Showa. She stated, "It has been a truly enriching and rewarding experience to be associated with the Company. I sincerely thank the Board of Directors of the Company for the opportunity, support, and guidance extended to me during my tenure."

Bansal also acknowledged the professional growth and learning she gained during her time with the company, emphasizing her appreciation for the experience.

Company Profile

Munjal Showa, with its registered office in Gurugram, Haryana, is known for manufacturing world-class automotive components. The company collaborates with Astemo Limited (formerly known as Hitachi Astemo Limited) and is listed on both the BSE and the National Stock Exchange of India.

As Munjal Showa prepares for this transition in its key management personnel, the company has not yet announced a successor for the position of Company Secretary and Compliance Officer.