Menon Bearings Limited reported higher consolidated revenue and profit for the nine months ended FY26 while progressing capacity expansion across its bi-metal, braking systems and aluminium die-casting operations, as part of its plan to support new orders and scale recently developed products.
Consolidated revenue from operations for the nine months ended FY26 increased to INR 2.11 billion, compared with INR 1.78 billion in the corresponding period of the previous year. Earnings before interest, tax, depreciation and amortisation rose to INR 417.3 million from INR 347.2 million, while profit after tax increased to INR 244.7 million from INR 183.3 million.
Quarterly performance remained strong in Q3 FY26. Revenue from operations reached INR 785.4 million, up from INR 638.5 million in the preceding quarter and INR 595.3 million a year earlier. EBITDA rose to INR 160.9 million, while profit after tax increased to INR 92.5 million, representing the highest quarterly revenue, operating profit and net profit reported by the company.
The nine-month performance was supported by progress across divisions alongside capacity expansion. In the bi-metal products segment, production capacity is being increased from 4.86 million units in FY25 to 5.50 million units by FY26. The company reported rising domestic and export demand for larger-diameter bearings, bushes and washers, with 38 parts developed and tested for a major customer. These initiatives are expected to generate incremental annual revenue of INR 500–600 million within two years. Capital expenditure of INR 195.5 million for this expansion was fully deployed in FY25.
In the braking systems division, installed capacity is forecast to rise from 1.80 million units in FY25 to 2.40 million units by FY27, implying an increase of around 33 percent. The company continues to focus on the medium and heavy commercial vehicle aftermarket and is pursuing registration of braking products with Indian Railways. A dynamometer installation is underway to support railway approvals and original equipment manufacturer orders, with a significant increase in turnover expected after commissioning in FY26–27. Capital expenditure of INR 80.0 million has been completed by the third quarter of FY26, with an additional INR 50.0 million planned by the fourth quarter of FY26.
The aluminium die-casting business, Alkop, is targeting a doubling of capacity from 1,440 metric tonnes per annum to 2,880 metric tonnes per annum over the next two years. Menon Bearings reported growth in exports and the domestic aftermarket during the nine-month period and said the expansion is intended to support additional OEM orders and new applications. The company has entered the electric vehicle segment for component supplies through overseas customers, with EV-related products targeted to contribute 8–10 percent of Alkop revenue by FY27. The company has executed capital expenditure of INR 125.0 million up to Q3 FY26 and plans to invest a further INR 100.0 million over the same period.
As part of its stated way forward, Menon Bearings said exports remain a key growth driver, currently accounting for about 30 percent of consolidated revenue and projected to increase to 40 percent by FY27. The company expects exports to the United States to rise, particularly from the bearing division, with annual revenue from the US market projected at around INR 300 million. It also plans to enter African markets through a large distributor network.
The company said commercial production of thrust washers is ongoing at a new manufacturing plant with enhanced capacity. Components developed for a tractor customer have received 50 percent approval, with production scheduled to commence in the first quarter of FY26 and annual revenue potential of about INR 550 million once fully ramped up. Menon Bearings also stated that it has no land constraints for future expansion and is exploring electric vehicle charging and new technology segments under Menon New Ventures.
Menon Bearings Limited operates five manufacturing plants located in Kolhapur, Maharashtra, spread across approximately 27 acres, with fully integrated capabilities including in-house alloy melting, powder manufacturing, strip production, die casting, machining, tooling and testing. The company also operates an office and warehouse in Indianapolis, United States, supporting exports to more than 24 countries and supplies to domestic and international original equipment manufacturers across automotive, industrial and commercial vehicle segments.
