Menon Bearings Ltd-$ — Q4 FY26 earnings call
Summary generated by AI from the official transcript Menon Bearings Ltd-$ filed with BSE on 24 May 2026. Every statement cites a verbatim quote from that document — open any citation to read it. This is a record of what management said, not a recommendation. How we check these summaries
The short read
Menon Bearings reported consolidated total income of over INR 300 crore for FY26, up 23.16% year-on-year, with full-year PAT of INR 38.25 crore, a 53.41% increase. Fourth-quarter consolidated PAT rose 108.55% year-on-year, and management attributed the quarter's performance to higher capacity utilisation and operating leverage across the Bi-Metal, aluminium and brakes divisions. Management discussed raw material cost pass-through mechanisms, export mix, new product pipelines across bearings, aluminium (Alkop) and brakes, and outlined targets for revenue growth and margins over the next two years.
Numbers mentioned
Consolidated total income: INR 300 plus crores (FY26)
p. 3
“So, total income growth, our consolidated total income for '25-'26 reached INR 300 plus crores, a robust 23.16% increase over the previous year.”
Arun Aradhye, page 3 of the filed PDF · View the filing
PAT: INR 38.25 crores (FY26)
p. 3
“So, far as profitability is concerned, our PAT for the full year stands at INR 38.25 crores, representing a growth of 53.41%”
Arun Aradhye, page 3 of the filed PDF · View the filing
Consolidated PAT growth: 108.55% (Q4 FY26 vs Q4 FY25)
p. 3
“On a consolidated basis, our PAT for quarter 4, '25-26 was upped by a remarkable 108.55% over last year, that is year-on-year.”
Arun Aradhye, page 3 of the filed PDF · View the filing
Earnings per share: INR 6.83 per share (up from INR 4.45) (FY26)
p. 3
“So, earnings per share has also gone up from INR4.45 to INR6.83 per share.”
Arun Aradhye, page 3 of the filed PDF · View the filing
Total assets: INR 267 crores (FY26)
p. 4
“So, asset management is concerned, you see, our total assets stand at INR 267 crores.”
Arun Aradhye, page 4 of the filed PDF · View the filing
USA export growth: almost 50% over last year (FY26)
p. 9
“So far as USA market is concerned, our exports have gone up by almost 50% over last year so far as USA market is concerned”
Arun Aradhye, page 9 of the filed PDF · View the filing
Alkop capacity utilisation: 65% (current)
p. 15
“Utilization as of now is 65% and it is likely to go up to 90% by the end of this year”
Arun Aradhye, page 15 of the filed PDF · View the filing
Current order book: more than INR32 crores (current)
p. 23
“You see, our current order position is more than INR32 crores.”
Arun Aradhye, page 23 of the filed PDF · View the filing
Order book target for first six months: INR190 crores (H1)
p. 23
“Going forward, what we feel that we'll be targeting almost INR190 crores for first six months.”
Arun Aradhye, page 23 of the filed PDF · View the filing
Copper price: INR 1,275 (up from INR 1,210 last month) (current)
p. 16
“Last month it was INR 1,210, now it has risen to INR 1,275.”
Arun Aradhye, page 16 of the filed PDF · View the filing
What management said it would do
A record of statements made on the call, in the words management used. Parakho does not forecast, endorse or assess them, and their presence here is not a view on whether they will happen.
EBITDA margin — 20% to 22% · next two years
stated firmly by Arun Aradhye
p. 4
“I again assure you that considering the present situation going forward, we will be able to maintain EBITDA more than 20% and it should be about between 20% to 22% during next two years.”
Arun Aradhye, page 4 of the filed PDF · View the filing
Revenue — INR500 crores · by FY28
stated as an aspiration by Arun Aradhye
p. 4
“And we will take all-out efforts to see how we can reach INR500 crores by '28.”
Arun Aradhye, page 4 of the filed PDF · View the filing
Revenue growth rate — 25% year-on-year · next few years
stated firmly by Arun Aradhye
p. 4
“we will be sustaining this because of increase in the overall turnover which we are targeting at a rate of 25% year-on-year for next few years.”
Arun Aradhye, page 4 of the filed PDF · View the filing
Capex - Bi-Metal division — INR25 crores · next two years
stated firmly by Arun Aradhye
p. 6
“Planned CapEx for Menon Bearings, it is a bearing division, it is a BiMetal division, INR25 crores for next two years.”
Arun Aradhye, page 6 of the filed PDF · View the filing
Capex - Alkop — INR7 crores · next two years
stated firmly by Arun Aradhye
p. 6
“And for Alkop, it is INR7 crores and brakes, it is INR3 crores.”
Arun Aradhye, page 6 of the filed PDF · View the filing
Alkop revenue growth — 29% · next 2 years
stated firmly by Arun Aradhye
p. 10
“and we are assuming a growth in Alkop for the next 2 years at the rate of 29%.”
Arun Aradhye, page 10 of the filed PDF · View the filing
Alkop revenue — more than INR120 crores · next 2 years
stated firmly by Arun Aradhye
p. 11
“there will be a growth of, you see, I can tell you, we can reach more than INR120 crores in next 2 years so far as Alkop is concerned.”
Arun Aradhye, page 11 of the filed PDF · View the filing
Bi-Metal new business addition — more than INR50 crores · next two years including this year
stated as an aspiration by Arun Aradhye
p. 20
“I hope that the new addition into BiMetal business will be more than INR50 crores.”
Arun Aradhye, page 20 of the filed PDF · View the filing
Asset turnover — 2 · by FY28
stated firmly by Arun Aradhye
p. 18
“With that, we will be able to on overall consolidated basis, we should be able to reach asset turnover of 2. By '28, we should be reaching that 100%.”
Arun Aradhye, page 18 of the filed PDF · View the filing
Dynamometer/brakes railway testing equipment — by end of August
stated firmly by Arun Aradhye
p. 11
“That is under production and we will be receiving it by the end of August and thereafter we will take up the business not only of railways but OEMs business also will be in our fold, I am sure.”
Arun Aradhye, page 11 of the filed PDF · View the filing
FY27 revenue — more than INR 360 crores · FY27
stated firmly by Arun Aradhye
p. 24
“Precisely, what we have estimated is more than INR 360 crores.”
Arun Aradhye, page 24 of the filed PDF · View the filing
EBITDA margin improvement from exports mix — above 15 basis points · next year
stated conditionally by Arun Aradhye
p. 6
“Depending upon that 15 basis points or even more than that, we can definitely, and I'm sure that it goes above 15 in the next year.”
Arun Aradhye, page 6 of the filed PDF · View the filing
Bi-Metal division revenue growth — 23% · next year
stated firmly by Aditya Menon
p. 14
“Growth this year also for Menon Bearings has been significant. Next year alone also, we are growing at 25% -- 23% next year also.”
Aditya Menon, page 14 of the filed PDF · View the filing
PTFE bush order — one lakh bushes per month · within a month or two
stated conditionally by Arun Aradhye
p. 18
“we will be getting that order within a month or two.”
Arun Aradhye, page 18 of the filed PDF · View the filing
Q&A highlights
Management's answers to analyst questions, in Parakho's words rather than a transcript. Each row names who answered and carries the verbatim quote it was drawn from.
Management said exports carry better margins than aftermarket or OEM, so margins should improve, potentially by more than 15 basis points next year.
Answered by Arun Aradhye
Asked by Agastya Dave: How will the margin profile change with new export-focused business?
p. 6
“That is for exports, where margins are always better than aftermarket or OEM. So, considering that we are 100% sure that we will not be only able to sustain the margin, but the margin should further improve.”
Arun Aradhye, page 6 of the filed PDF · View the filing
Management explained that increased US exports extended debtor turnaround time to over 180 days, but they are using PCFC limits with government export subvention to reduce interest costs.
Answered by Arun Aradhye
Asked by Agastya Dave: What is causing high interest expenses?
p. 7
“So, we are going with PCFC limits, and we already talked, we have taken INR6 crores of loan from the bank so far as PCFC is concerned, which is available at the rate of 4% now, 4.70%”
Arun Aradhye, page 7 of the filed PDF · View the filing
Management attributed slower growth to delays from geopolitical disruptions and customer sample approval timelines, but expects significant growth in coming quarters.
Answered by Aditya Menon
Asked by Himanshu Upadhyay: Why has Alkop's growth been slower than expected?
p. 10
“Actually, because of the war, a lot of delays were happening. A lot of aluminium parts which we made were new engines.”
Aditya Menon, page 10 of the filed PDF · View the filing
Management said the equipment is under production and expected by end of August, after two prior supplier attempts failed to meet technical specifications.
Answered by Arun Aradhye
Asked by Himanshu Upadhyay: What is the status of the dynamometer for the braking/railway business?
p. 11
“we actually ordered this machine or testing machine for (from) two other manufacturers but unfortunately they could not complete because of certain reasons which cannot be explained here but now that is in progress and we are 100% sure that it will be completed by August.”
Arun Aradhye, page 11 of the filed PDF · View the filing
Management said they have pre-decided raw material indexing formulas that pass on cost increases to customers on a quarterly basis.
Answered by Arun Aradhye
Asked by Pritesh Chheda: How does the company manage rising raw material costs like copper?
p. 13
“We are having pre-decided formulas, RM indexing is there, raw material indexing is there. And accordingly, we are passing on that burden to customers, not to worry about the margin.”
Arun Aradhye, page 13 of the filed PDF · View the filing
Management said around 80% of export orders are now ex-works, with negotiations ongoing for the remaining 20%.
Answered by Aditya Menon
Asked by Raghav Maheswari: What progress has been made on converting export terms from DDP to ex-works?
p. 17
“But majority of our exports still out of 100%, 80% is ex-works.”
Aditya Menon, page 17 of the filed PDF · View the filing
Management said the halt in Dubai-routed exports affected about INR2 crore of business over three months, but this was compensated by new orders worth INR6 crore for the year.
Answered by Arun Aradhye
Asked by Murtaza: What is the status of Africa exports via Dubai given West Asia disruptions?
p. 19
“For last three months, we have -- that export is halted. That has affected to the extent of almost INR2 crores of business that we have lost during last three months.”
Arun Aradhye, page 19 of the filed PDF · View the filing
Management said they expect to exceed the earlier guided figure, estimating more than INR360 crores.
Answered by Arun Aradhye
Asked by Sukanya Tripathi (via moderator): Are you maintaining the earlier INR350 crore FY27 revenue guidance?
p. 24
“Precisely, what we have estimated is more than INR 360 crores.”
Arun Aradhye, page 24 of the filed PDF · View the filing
Management confirmed margins could vary with export mix and high-volume products but reiterated a conservative range of 20-22% for the full year.
Answered by Aditya Menon
Asked by Sukanya Tripathi (via moderator): Given Q4 EBITDA margin of 25%, will margins range between 22-25% going forward?
p. 25
“Yeah, that is correct. Depending on what kind of high volume products come.”
Aditya Menon, page 25 of the filed PDF · View the filing
Management confirmed the margin gains came from higher capacity utilisation across divisions, spreading fixed costs over higher volumes.
Answered by Arun Aradhye
Asked by Manas Jain: Was the quarter's margin improvement purely operating leverage with no one-offs?
p. 25
“So overall, when the production volumes are high, sales volume is high, then we can have better margins as compared to the corresponding period of last year or previous month.”
Arun Aradhye, page 25 of the filed PDF · View the filing
Risks flagged
Volatile raw material prices, particularly copper and aluminium alloys
p. 16
“Last month it was INR 1,210, now it has risen to INR 1,275. So it is fluctuating according to the geopolitical situation and market.”
Arun Aradhye, page 16 of the filed PDF · View the filing
Logistics delays due to the war affecting shipping routes
p. 16
“there are some logistic issues now because of the war, logistic lines are taking a little longer.”
Aditya Menon, page 16 of the filed PDF · View the filing
Rising electricity and labour costs from new labour code affecting margins
p. 25
“You see, electricity is going up. Labour cost is going up. New labour code has been implemented.”
Arun Aradhye, page 25 of the filed PDF · View the filing
Disruption to Africa exports via Dubai due to Middle East congestion
p. 19
“So what has happened so far as Dubai is concerned, they export to African countries through Dubai. For last three months, we have -- that export is halted.”
Arun Aradhye, page 19 of the filed PDF · View the filing
Delay in dynamometer procurement due to supplier failures
p. 11
“we actually ordered this machine or testing machine for (from) two other manufacturers but unfortunately they could not complete because of certain reasons which cannot be explained here”
Arun Aradhye, page 11 of the filed PDF · View the filing
Dependence on geopolitical situation for achieving growth targets
p. 4
“To be optimistic, we have in our mind estimate which depends upon the overall geopolitical situation and all these things.”
Arun Aradhye, page 4 of the filed PDF · View the filing
Generated by claude-sonnet-5. Source: the transcript as filed with BSE. We link to the exchange's copy; we do not host transcripts. Parakho is a data and screening tool, not an investment adviser — nothing here is a recommendation to buy, sell or hold.