This smallcap auto stock jumped 15% today, hits new record high

Munjal Auto's total income stood at Rs 522 crore in Q1FY25

Shares of Munjal Auto Industries jumped over 15 percent to hit a new record high of Rs 122 apiece on September 2 amid heavy volumes. Around 8.1 million equity shares exchanged hands at both BSE and NSE intra-day deals, significantly exceeding one-week average of 0.9 million equity shares.

So far this year, the smallcap stock has surged over 35 percent, outpacing benchmark Nifty 50's 16 percent rise during the same period.

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Munjal Auto Industries is engaged in manufacturing of various components and assemblies for industries like automotive, renewable energy, aerospace, defense, space, railways, and other engineering sectors. Some of the key products in automotive sector include two and four wheeler exhaust muffler, fuel tanks, rims, and automotive BIW parts.

In the recently concluded June quarter, Munjal Auto's total income stood at Rs 522 crore, as against Rs 518 crore a year back. However, its profit-after-tax declined to Rs 10 crore in Q1FY25 from Rs 14 crore in the year-ago period.

Segment-wise, auto components revenue dropped to Rs 318 crore in Q1FY25 from Rs 370 crore in Q1FY24. Conversely, revenue from composite products and moulds rose to Rs 191 crore in the June-ended quarter from Rs 138 crore in the year-ago period.

Recently, credit ratings agency ICRA re-affirmed its long-term and short-term bank facilities with 'AA-' and 'A1+' respectively.

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