3 Auto Frame, Module and Forging Stocks With a Strong Future Roadmap: Munjal Auto Industries, Samvardhana Motherson International and Bharat Forge
- October 12, 2026
- Posted by: Chaitanya Auti
- Category: Best Stocks
Munjal Auto Rs 101.32, P/E 18.33. Motherson Rs 153.00, P/E 35.53. Bharat Forge Rs 1,816.90. Closing prices of 9 Oct 2026.
Quick Answer
Auto frame, module and forging stocks with the clearest long-term roadmaps today include Munjal Auto in two-wheeler frames and wheels, Motherson in wiring harnesses and modules for carmakers and Bharat Forge in forged components with defence and aerospace work. FY26 revenue growth was 10.9% at Munjal Auto, 10.7% at Motherson and 10.9% at Bharat Forge. P/E stands at 18.33 for Munjal Auto (industry 37.01) and 35.53 for Motherson (industry 37.01). Demand cycles, input costs and valuation decide how much of that growth the market keeps paying for, so each company’s risks need equal attention.
Auto frame, module and forging stocks give investors exposure to parts and systems supplied to vehicle, industrial and defence makers. Vehicle volumes, content per vehicle and margins decide how much of that demand turns into profit.
This list covers three auto frame, module and forging stocks: Munjal Auto Industries for two-wheeler frames and wheels, Samvardhana Motherson International for wiring harnesses and modules for carmakers and Bharat Forge for forged components with defence and aerospace work. Every figure comes from the latest reported financials and the 9 October 2026 market close. Companies without complete current figures were left out.
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What Are Auto Frame, Module and Forging Stocks?
Auto frame, module and forging stocks are shares of companies that supply parts and modules to vehicle, industrial and defence makers. Results depend on vehicle volumes, content per vehicle and margins, so volumes and margins separate the stronger names.
Auto Frame, Module and Forging Stocks at a Glance
The table compares size, valuation, return on equity and debt for the three auto frame, module and forging stocks as of the 9 Oct 2026 close.
| Company | CMP (Rs) | Market Cap (Rs Cr) | Industry P/E | ROE | Debt to Equity |
|---|---|---|---|---|---|
| Munjal Auto Industries | 101.32 | 1,016 | 37.01 | 7.74% | 0.95 |
| Samvardhana Motherson International | 153.00 | 162,011 | 37.01 | 9.42% | 0.47 |
| Bharat Forge | 1,816.90 | 87,716 | 51.73 | 11.27% | 0.76 |
Among auto component stocks, both trade at a discount to their industry P/E multiples.
Why Do Auto Frame, Module and Forging Stocks Have a Strong Roadmap in India?
Auto frame, module and forging stocks have a strong roadmap in India because vehicle output, rising parts content per vehicle and new defence demand give component makers several growth paths. Three drivers stand out.
- Vehicle demand: Two-wheeler and car makers keep ordering parts.
- Content per vehicle: Modules and electronics raise the value of each order.
- New segments: Defence and aerospace add fresh demand.
Munjal Auto Industries: Two-Wheeler Parts Build the Next Leg
Munjal Auto’s roadmap rests on two-wheeler frames, wheels and plastic parts supplied to leading two-wheeler makers, with two-wheeler demand supporting volumes.
Revenue grew from Rs 1,921.13 crore in FY22 to Rs 2,325.62 crore in FY26, a 21.1% rise, and FY26 revenue was 10.9% higher than FY25. FY26 net profit rose 18.1% to Rs 46.15 crore. Over four years, net profit rose from Rs 29.61 crore in FY22 to Rs 46.15 crore. In Q1 FY27, revenue grew 42.8% to Rs 719.39 crore, and net profit rose 47.6% to Rs 28.50 crore. Operating margin was 6.40% in FY26.
Debt to equity is 0.95 and return on equity is 7.74%. FY26 operating cash flow was Rs 44.67 crore against capital expenditure of Rs 73.33 crore. Munjal Auto paid a dividend of Rs 1 per share for FY26, a yield of 0.98%. At a P/E of 18.33 against an industry P/E of 37.01, the stock trades below its industry multiple.
What to watch: Return on equity of 7.74% is modest, and net profit margin is only 2.0%, so small cost changes move earnings.
Samvardhana Motherson International: Global Auto Modules Build the Next Leg
Motherson’s roadmap rests on wiring harnesses, rear-view mirrors and other modules for global carmakers, with its global customer base supporting revenue.
Revenue grew from Rs 64,031.70 crore in FY22 to Rs 126,414.20 crore in FY26, a 97.4% rise, and FY26 revenue was 10.7% higher than FY25. FY26 net profit was Rs 4,085.60 crore. In Q1 FY27, revenue grew 16.6% to Rs 35,325.33 crore. Operating margin was 10.31% in FY26 and 9.60% in Q1 FY27 against 8.44% a year earlier.
Debt to equity is 0.47 and return on equity is 9.42%. FY26 operating cash flow was Rs 11,284.00 crore against capital expenditure of Rs 6,053.60 crore. Motherson paid a dividend of Rs 0.6 per share for FY26, a yield of 0.39%. At a P/E of 35.53 against an industry P/E of 37.01, the stock trades below its industry multiple.
What to watch: Net profit margin is only 3.2%, so small cost changes move earnings.
Bharat Forge: Forgings, Defence and Aerospace Anchor the Roadmap
Bharat Forge’s roadmap rests on forged and machined components for automotive and industrial customers, along with a growing defence and aerospace business, with a wider product mix reducing dependence on any one cycle.
Revenue grew from Rs 10,656.98 crore in FY22 to Rs 17,010.34 crore in FY26, a 59.6% rise, and FY26 revenue was 10.9% higher than FY25. FY26 net profit rose 19.3% to Rs 1,089.40 crore. Over four years, net profit rose from Rs 1,077.06 crore in FY22 to Rs 1,089.40 crore. In Q1 FY27, revenue grew 18.7% to Rs 4,697.19 crore. Operating margin was 17.62% in FY26.
Debt to equity is 0.76 and return on equity is 11.27%. FY26 operating cash flow was Rs 1,486.64 crore against capital expenditure of Rs 1,140.50 crore. Bharat Forge paid a dividend of Rs 8.5 per share for FY26, a yield of 0.46%.
What to watch: Return on equity of 11.27% is the figure to follow as growth continues.
Best Auto Frame, Module and Forging Stocks in India: Munjal Auto vs Motherson vs Bharat Forge on Key Financials
Among the best auto frame, module and forging stocks in India, Munjal Auto leads on Q1 FY27 revenue growth and dividend yield; Motherson leads on the lowest debt to equity; Bharat Forge leads on FY26 revenue growth and FY26 operating margin. The table puts the numbers side by side.
| Metric | Munjal Auto | Motherson | Bharat Forge |
|---|---|---|---|
| FY26 revenue (Rs Cr) | 2,325.62 | 126,414.20 | 17,010.34 |
| FY26 revenue growth | 10.9% | 10.7% | 10.9% |
| FY26 net profit (Rs Cr) | 46.15 | 4,085.60 | 1,089.40 |
| FY26 operating profit margin | 6.40% | 10.31% | 17.62% |
| Q1 FY27 revenue growth (YoY) | 42.8% | 16.6% | 18.7% |
| Return on equity | 7.74% | 9.42% | 11.27% |
| Debt to equity | 0.95 | 0.47 | 0.76 |
| Dividend yield | 0.98% | 0.39% | 0.46% |
| FY26 operating cash flow (Rs Cr) | 44.67 | 11,284.00 | 1,486.64 |
Component earnings follow vehicle volumes, content per vehicle and margins, so full-year numbers and quarterly trends together give a better view.
How to Evaluate Auto Frame, Module and Forging Stocks to Buy Before You Invest
A short checklist keeps the research consistent when you screen auto frame, module and forging stocks and shortlist auto frame, module and forging stocks to buy.
- Compare each stock’s P/E with its industry P/E, which differs by company here.
- Check order book, operating margin and customer mix together.
- Check whether revenue growth is turning into profit growth, not only sales.
- Read operating cash flow against capital expenditure to see how growth is funded.
- Watch debt to equity and interest cover before sizing a position.
- Spread exposure across companies and business lines instead of one demand cycle.
Check the Univest Screener for live data on these auto frame, module and forging stocks
Risks to Consider Before Investing in Auto Frame, Module and Forging Stocks
- Customer concentration: A few large buyers account for much of the orders.
- Metal and input costs: Steel and energy prices can affect margins.
- Quarterly trends: A single weak quarter can change near-term earnings, so track results every quarter.
Download the Univest iOS App or Univest Android App to track Munjal Auto, Motherson and Bharat Forge live.
Annual reports and quarterly result presentations are the most reliable places to verify the numbers quoted here, because they show segment details, management commentary and the notes behind each figure.
Comparing a quarter with the same quarter of the previous year gives a cleaner reading than comparing it with the preceding quarter, since seasonal patterns affect many businesses in India.
The shareholding pattern published every quarter shows whether promoters, mutual funds and foreign investors are raising or trimming their holdings, which adds useful context to the financial numbers.
Final Take: Which Stock Has the Strongest Roadmap?
These three auto component stocks cover frames, modules and forged parts for vehicles and industry. Munjal Auto leads on Q1 FY27 revenue growth and dividend yield; Motherson leads on the lowest debt to equity; Bharat Forge leads on FY26 revenue growth and FY26 operating margin.
Across auto frame, module and forging stocks, each roadmap still has to turn growth into steady profit, so independent research and position sizing matter. Investors should consult a SEBI-registered advisor before acting on any of the auto frame, module and forging stocks to buy discussed here.
Disclaimer: Data and figures in this article are sourced from publicly available information. These may or may not be accurate. Please verify all data with the official NSE (nseindia.com) and BSE (bseindia.com) websites before making any investment decision. Investments in securities are subject to market risk. This content is for educational purposes only and is not investment advice by Univest (SEBI RA INH000013776).
FAQs on Auto Frame, Module and Forging Stocks
Which are the best auto frame, module and forging stocks in India with a strong roadmap?
Ans. Munjal Auto Industries, Samvardhana Motherson International and Bharat Forge stand out for their roadmaps in frames, modules and forged parts for vehicles and industry. FY26 revenue growth was 10.9% at Munjal Auto, 10.7% at Motherson and 10.9% at Bharat Forge, and return on equity ranges from 7.74% to 11.27%.
Is Munjal Auto Industries a good stock to buy now?
Ans. Munjal Auto Industries has a debt to equity ratio of 0.95, a return on equity of 7.74% and a P/E of 18.33 against an industry P/E of 37.01. Valuation, vehicle volumes and input costs move results. This article is not investment advice, so consult a SEBI-registered advisor before deciding.
What is the P/E ratio of Munjal Auto, Motherson and Bharat Forge?
Ans. The P/E ratio is 18.33 for Munjal Auto (industry 37.01) and 35.53 for Motherson (industry 37.01). All of them trade below the industry multiple.
Which of these auto frame, module and forging stocks has the highest return on equity?
Ans. Bharat Forge has the highest return on equity at 11.27%, followed by Samvardhana Motherson International at 9.42% and Munjal Auto Industries at 7.74%.
What are the risks of investing in auto frame, module and forging stocks?
Ans. The main risks are customer concentration, metal and input costs and quarterly trends. A few large buyers account for much of the orders.
How did Munjal Auto, Motherson and Bharat Forge perform in Q1 FY27?
Ans. Munjal Auto Industries reported revenue of Rs 719.39 crore, up 42.8% year on year, and net profit rose 47.6% to Rs 28.50 crore. Samvardhana Motherson International reported revenue of Rs 35,325.33 crore, up 16.6% year on year. Bharat Forge reported revenue of Rs 4,697.19 crore, up 18.7% year on year.
Do auto frame, module and forging stocks pay dividends?
Ans. Yes, all three companies pay dividends. The dividend yield is 0.98% for Munjal Auto, 0.39% for Motherson and 0.46% for Bharat Forge, based on dividends declared for FY26.
How can I invest in auto frame, module and forging stocks in India?
Ans. You can buy auto frame, module and forging stocks through a demat and trading account on NSE or BSE after checking each company’s financials, margins and valuation. The Univest Screener lets you compare fundamentals before placing an order. Investments in securities are subject to market risk, so consider your risk profile first.