Menon Bearings Limited reported robust financial performance for the nine months ended FY26, alongside significant progress in capacity expansion across its bi-metal bearings, braking systems and aluminium die-casting businesses. The company said the expansion initiatives are aligned with rising demand, new order wins and the scaling up of recently developed products across domestic and export markets.
For the nine-month period, consolidated revenue from operations 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 (EBITDA) 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, reflecting improved operating leverage and higher volumes.
The company also delivered its strongest quarterly performance to date in the third quarter of FY26. Revenue from operations rose to INR 785.4 million, compared with INR 638.5 million in Q2 FY26 and INR 595.3 million in Q3 FY25. EBITDA increased to INR 160.9 million, while profit after tax reached INR 92.5 million, marking the highest quarterly revenue, operating profit and net profit in the company’s history.
Operational performance during the period was supported by progress across all key divisions. In the bi-metal products segment, Menon Bearings is expanding production capacity from 4.86 million units in FY25 to 5.50 million units by FY26.
The company reported growing domestic and export demand for larger-diameter bearings, bushes and washers, with 38 new parts developed and tested for a major customer. These developments are expected to generate incremental annual revenue of INR 500–600 million within the next 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 expected to increase from 1.80 million units in FY25 to 2.40 million units by FY27, representing growth of approximately 33 percent. The company continues to focus on the medium and heavy commercial vehicle aftermarket and is pursuing product registrations with Indian Railways.
Installation of a dynamometer is underway to support railway approvals and OEM requirements, with a meaningful increase in turnover anticipated following commissioning during FY26–27. Capital expenditure of INR 80.0 million has been completed by Q3 FY26, with a further INR 50.0 million planned by Q4 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. During the nine-month period, the company reported growth in exports and the domestic aftermarket.
The expansion is intended to support additional OEM orders and new applications, including electric vehicle components supplied to overseas customers. EV-related products are expected to contribute 8–10 percent of Alkop revenue by FY27. Capital expenditure of INR 125.0 million has been executed up to Q3 FY26, with an additional INR 100.0 million planned.
Exports remain a key growth driver for Menon Bearings, accounting for approximately 30 percent of consolidated revenue and targeted to rise to 40 percent by FY27. Exports to the United States, particularly from the bearing division, are expected to increase, with annual revenue from the US market projected at around INR 300 million. The company is also planning entry into African markets through a large distributor network.
Menon Bearings operates five manufacturing plants in Kolhapur, Maharashtra, across approximately 27 acres, with fully integrated capabilities from alloy melting and strip production to die casting, machining, tooling and testing. The company also maintains an office and warehouse in Indianapolis, United States, supporting exports to more than 24 countries and supplies to domestic and international OEMs across automotive, industrial and commercial vehicle segments.
