Equity, Bottom-up Analyst, Investics Research

Sameer Taneja

A buy-side analyst with over 18 years of experience investing in Asian markets and specializing in the mid-small cap space, emphasizing value investing in companies with good free cash flows/dividends and long-term holding horizons. 
Exempt Financial Adviser (EFA) under CrossASEAN Research Pte Ltd. It is important to note that the information provided by Investics Research is based on publicly available data and own knowledge, which has been gathered and analyzed from a variety of sources. While every effort has been made to ensure the accuracy and completeness of the information provided, it is not guaranteed to be free from errors or omissions. All forecasts and estimates are based on information that has been obtained from public sources that are considered to be reliable. The sources include but are not limited to, company announcements, exchange filings, presentations, etc. Investics does not guarantee the accuracy and completeness of the forecasts, estimates, and/or other information.

Equity, Bottom-up Analyst

Menon Bearings Limited (MEN IN) Q1 FY27 Results: Record Quarter And Conservative Guidance

India Small And Micro Cap Compounders: High ROCE, Profitable Growth, Outsized Shareholder Returns

Investics Research

It is important to note that the information provided by Investics Research is based on publicly available data and own knowledge, which has been gathered and analyzed from a variety of sources. While every effort has been made to ensure the accuracy and completeness of the information provided, it is not guaranteed to be free from errors or omissions. All forecasts and estimates are based on information that has been obtained from public sources that are considered to be reliable. The sources include but are not limited to, company announcements, exchange filings, presentations, etc. Investics does not guarantee the accuracy and completeness of the forecasts, estimates, and/or other information.

Equity Bottom-up Research

Equity Bottom-Up

<ul>
<li>
 Growth: Revenue compounds at ~27% per year, from ₹294 cr in FY26 to ₹477 cr by FY28, while PAT nearly doubles from ₹38 cr to ₹72 cr.</li>
<li>
 Margins: EBITDA margin steps up from about 20% in FY26 to 22-23% by FY28, as the export mix meets operating leverage.</li>
<li>
Valuation: At ₹179, the stock trades on 19.8x FY27 and 14.0x FY28 earnings; With a 2.5 Rs EPS (~10 Rs Annualized EPS) in Q4FY26, the inflection has already commenced. </li>
</ul>



 Growth: Revenue compounds at ~27% per year, from ₹294 cr in FY26 to ₹477 cr by FY28, while PAT nearly doubles from ₹38 cr to ₹72 cr.

 Margins: EBITDA margin steps up from about 20% in FY26 to 22-23% by FY28, as the export mix meets operating leverage.

Valuation: At ₹179, the stock trades on 19.8x FY27 and 14.0x FY28 earnings; With a 2.5 Rs EPS (~10 Rs Annualized EPS) in Q4FY26, the inflection has already commenced. 


Menon Bearings (MEN IN): Quality Company Inflection In Earnings To FY28, CAGR >25% FY26-28