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Munjal Showa was established in 1985, in technical and financial collaboration with Showa Corporation of Japan, the pioneering global leaders, is engaged in the manufacture of shock absorbers, Munjal Showa Limited is a member of Hero Group.

The company is one of the biggest manufacturers of shock absorbers, telescopic front forks, struts, gas struts, window balancers / gas springs in the country. Nearly 95% of company’s revenues come from the two-wheeler industry, out of which Hero Honda alone accounts for 85%. Thus, MSL is assured of a sizeable offtake at all times.

Munjal Showa Limited in Hero Group’s joint venture with Showa Corporation, designs and manufacturers shock absorbers and struts for leading two-wheelers and four-wheelers. The Munjal Showa manufacturing plant is spread over an area of 24075 sq mt in the industrial area of Gurgaon, Haryana, on the outskirts of the National Capital Territory of Delhi, India.

Munjal Showa Limited is one of the largest suppliers of shock absorbers to major auto giants in India, Japan, Germany, the United States and the United Kingdom, amongst other developed markets. The Company's products conform to the highest standards of quality, safety, comfort and dependability and are QS 9000, ISO 14001 and ISO 9001 compliant. The use of advanced technology and a team of experienced personnel have led to outstanding growth in the Company.

Munjal Showa Limited has established a strong foothold in the auto ancillaries manufacturing market and enjoys a wide patronage. Munjal Showa products serve as original equipment to a wide range of Maruti Suzuki upper-end cars and export models, Honda City car, complete range of Hero Honda motorcycles, Kawasaki Bajaj motorcycles, Kinetic Scooters and Hero range of mini-motorcycles and mopeds and Honda Motorcycles and Scooters India (Pvt) Limited. In over a decade the company's state-of-the-art shock absorbers, front fork, struts and window balancers/gas springs have become symbols of reliability and quality for popular two and four wheeled vehicles.

Better products through better technology - this is the maxim that guides the Munjal Showa team. The eco-friendly plant at Gurgaon is equipped with ultra modern facilities. A team of expert engineers from Showa, Japan, support and monitor the production of virtually zero-defect products. Our manufacturing methods are continually modified and improved upon, in order to realize goals of higher productivity. We are using the Japanese system of encompassing 5S, 3G, 3K, 3M, in the work culture thus promoting efficiency at the team level and a clean production system.

Product range of the company includes:

 * Front Fork for two-wheelers
 * Front/Rear Cushion for two-wheelers
 * Front/Rear Strut for Maruti
 * Open Stay for Maruti
 * Front/Rear Strut for Honda Siel.

Company	Market Price	MCAP(Cr)	P/B	P/E	EPS	ROE
MUNJALSHOW	135(2.4%)	526	0.8	16.5	2.2	1.9
ASAL	329.35(-1.3%)	529	-19.3	63.5	-14.7	0.0
MUNJALAU	53.25(2.6%)	520	1.3	7.9	12.3	9.1
HINDCOMPOS	317.25(-1.9%)	476	0.5	17.3	4.8	3.8
NDRAUTO	798.45(0.3%)	474	2.8	22.2	7.7	5.5
RBL	762.1(-0.1%)	590	2.3	17.6	18.9	13.6
HITECHGEAR	353.4(-1.0%)	670	1.7	13.3	4.8	-0.3
SINTERCOM	119.95(3.7%)	318	3.2	0.0	-1.6	-5.4
SHIVAMAUTO	25.35(-1.2%)	313	2.7	0.0	6.2	-12.8
TALBROAUTO	640.6(2.3%)	756	2.3	17.3	13.2	14.2
PPAP	196.05(0.2%)	273	0.9	40.2	10.6	6.8
UCALFUEL	119.75(-1.6%)	267	0.7	31.1	14.6	58.8
AUTOIND	68(-0.1%)	265	4.4	17.8	13.0	19.3
JAYBARMARU	190.2(3.9%)	800	1.6	21.4	14.4	12.9
RANEENGINE	270.35(-0.7%)	193	1.8	0.0	-0.4	-5.6

Peer Comparison