3 Powertrain and Mobility Component Stocks With a Strong Future Roadmap: Munjal Auto Industries, Varroc Engineering and Greaves Cotton
- October 12, 2026
- Posted by: Ankit Jaiswal
- Category: Best Stocks
Munjal Auto Rs 101.32, P/E 18.33. Varroc Rs 793.60, P/E 61.30. Greaves Cotton Rs 207.22. Closing prices of 9 Oct 2026.
Quick Answer
Powertrain and mobility component stocks with the clearest long-term roadmaps today include Munjal Auto in two-wheeler frames and components, Varroc in lighting and electronics systems and Greaves Cotton in engines and electric mobility. FY26 revenue growth was 10.9% at Munjal Auto, 8.9% at Varroc and 17.3% at Greaves Cotton. P/E stands at 18.33 for Munjal Auto (industry 37.01) and 61.30 for Varroc (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.
Powertrain and mobility component stocks give investors exposure to the frames, lights, engines and electric drivetrains inside vehicles. Vehicle volumes, content per vehicle and new product orders decide how much of that demand turns into profit.
This list covers three powertrain and mobility component stocks: Munjal Auto Industries for two-wheeler frames and components, Varroc Engineering for lighting and electronics systems and Greaves Cotton for engines and electric mobility. Every figure comes from the latest reported financials and the 9 October 2026 market close. Companies without complete current figures were left out.
Click Here – Get Free Investment Predictions
What Are Powertrain and Mobility Component Stocks?
Powertrain and mobility component stocks are shares of companies that supply frames, lighting systems and engines to vehicle makers. Results depend on vehicle volumes, content per vehicle and new orders, so margins and customer mix separate the stronger names.
Powertrain and Mobility Component Stocks at a Glance
The table compares size, valuation, return on equity and debt for the three powertrain and mobility component 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 |
| Varroc Engineering | 793.60 | 12,269 | 37.01 | 14.29% | 0.52 |
| Greaves Cotton | 207.22 | 4,928 | 47.18 | 8.03% | 0.28 |
Among auto components stocks, Varroc trades at a premium to the industry P/E, while Munjal Auto trades at a discount.
Why Do Powertrain and Mobility Component Stocks Have a Strong Roadmap in India?
Powertrain and mobility component stocks have a strong roadmap in India because vehicle makers keep adding features and electric models, and each change raises the value of parts per vehicle. Three drivers stand out.
- Vehicle volumes: Two-wheeler and commercial vehicle sales drive part orders.
- Content per vehicle: Lighting and electronics add value to each vehicle.
- Electric shift: New electric models need new parts and drivetrains.
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. Operating margin was 6.40% in FY26 and 9.21% in Q1 FY27 against 10.60% a year earlier.
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.
Varroc Engineering: Automotive Lighting and Components Drive the Pipeline
Varroc’s roadmap rests on automotive lighting, polymer and electrical-electronics components, with a rising content per vehicle supporting revenue.
Revenue grew from Rs 5,878.13 crore in FY22 to Rs 8,916.80 crore in FY26, a 51.7% rise, and FY26 revenue was 8.9% higher than FY25. FY26 net profit was Rs 229.83 crore. In Q1 FY27, revenue grew 29.9% to Rs 2,640.44 crore. Operating margin was 9.56% in FY26 and 8.71% in Q1 FY27 against 12.89% a year earlier.
Debt to equity is 0.52 and return on equity is 14.29%. FY26 operating cash flow was Rs 536.80 crore against capital expenditure of Rs 468.66 crore. Varroc paid a dividend of Rs 1.5 per share for FY26, a yield of 0.19%. At a P/E of 61.30 against an industry P/E of 37.01, the stock trades above its industry multiple.
What to watch: The Q1 FY27 operating margin of 8.71% was below the 12.89% of a year earlier, and net profit margin is only 2.6%, so small cost changes move earnings. The P/E of 61.30 sits above the industry P/E of 37.01, so earnings delivery matters for the valuation.
Greaves Cotton: Engines and Electric Mobility Build the Next Leg
Greaves Cotton’s roadmap rests on engines, electric mobility products and after-sales services, with electric and engine products supporting revenue.
Revenue grew from Rs 1,732.05 crore in FY22 to Rs 3,486.61 crore in FY26, a 101.3% rise, and FY26 revenue was 17.3% higher than FY25. FY26 net profit was Rs 35.29 crore. In Q1 FY27, revenue grew 29.0% to Rs 985.06 crore. Operating margin was 8.42% in FY26 and 6.91% in Q1 FY27 against 9.99% a year earlier.
Debt to equity is 0.28 and return on equity is 8.03%. FY26 operating cash flow was Rs 32.58 crore against capital expenditure of Rs 95.67 crore. Greaves Cotton paid a dividend of Rs 2 per share for FY26, a yield of 0.95%.
What to watch: The Q1 FY27 operating margin of 6.91% was below the 9.99% of a year earlier, and net profit margin is only 1.0%, so small cost changes move earnings.
Best Powertrain and Mobility Component Stocks in India: Munjal Auto vs Varroc vs Greaves Cotton on Key Financials
Among the best powertrain and mobility component stocks in India, Munjal Auto leads on Q1 FY27 revenue growth and dividend yield; Varroc leads on FY26 operating margin and return on equity; Greaves Cotton leads on FY26 revenue growth and the lowest debt to equity. The table puts the numbers side by side.
| Metric | Munjal Auto | Varroc | Greaves Cotton |
|---|---|---|---|
| FY26 revenue (Rs Cr) | 2,325.62 | 8,916.80 | 3,486.61 |
| FY26 revenue growth | 10.9% | 8.9% | 17.3% |
| FY26 net profit (Rs Cr) | 46.15 | 229.83 | 35.29 |
| FY26 operating profit margin | 6.40% | 9.56% | 8.42% |
| Q1 FY27 revenue growth (YoY) | 42.8% | 29.9% | 29.0% |
| Return on equity | 7.74% | 14.29% | 8.03% |
| Debt to equity | 0.95 | 0.52 | 0.28 |
| Dividend yield | 0.98% | 0.19% | 0.95% |
| FY26 operating cash flow (Rs Cr) | 44.67 | 536.80 | 32.58 |
Component maker earnings follow vehicle volumes, content per vehicle and new orders, so full-year numbers and quarterly trends together give a better view.
How to Evaluate Powertrain and Mobility Component Stocks to Buy Before You Invest
A short checklist keeps the research consistent when you screen powertrain and mobility component stocks and shortlist powertrain and mobility component stocks to buy.
- Compare each stock’s P/E with its industry P/E, which differs by company here.
- Check how dependent each company is on a few large vehicle makers.
- 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 powertrain and mobility component stocks
Risks to Consider Before Investing in Powertrain and Mobility Component Stocks
- Valuation: Varroc trades at 61.30 times earnings against an industry multiple of 37.01.
- Margins: Varroc’s Q1 FY27 operating margin of 8.71% was below the 12.89% of a year earlier.
- Customer concentration: A few large clients account for most orders.
- Cyclical demand: Vehicle sales swing with the economy.
Download the Univest iOS App or Univest Android App to track Munjal Auto, Varroc and Greaves Cotton 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 components stocks cover two-wheeler parts, vehicle lighting and engines and electric mobility. Munjal Auto leads on Q1 FY27 revenue growth and dividend yield; Varroc leads on FY26 operating margin and return on equity; Greaves Cotton leads on FY26 revenue growth and the lowest debt to equity.
Across powertrain and mobility component 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 powertrain and mobility component 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 Powertrain and Mobility Component Stocks
Which are the best powertrain and mobility component stocks in India with a strong roadmap?
Ans. Munjal Auto Industries, Varroc Engineering and Greaves Cotton stand out for their roadmaps in two-wheeler parts, vehicle lighting and engines and electric mobility. FY26 revenue growth was 10.9% at Munjal Auto, 8.9% at Varroc and 17.3% at Greaves Cotton, and return on equity ranges from 7.74% to 14.29%.
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 customer concentration 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, Varroc and Greaves Cotton?
Ans. The P/E ratio is 18.33 for Munjal Auto (industry 37.01) and 61.30 for Varroc (industry 37.01). Only Varroc trades at or above the industry multiple.
Which of these powertrain and mobility component stocks has the highest return on equity?
Ans. Varroc Engineering has the highest return on equity at 14.29%, followed by Greaves Cotton at 8.03% and Munjal Auto Industries at 7.74%.
What are the risks of investing in powertrain and mobility component stocks?
Ans. The main risks are valuation, margins, customer concentration and cyclical demand. Varroc trades at 61.30 times earnings against an industry multiple of 37.01.
How did Munjal Auto, Varroc and Greaves Cotton perform in Q1 FY27?
Ans. Munjal Auto Industries reported revenue of Rs 719.39 crore, up 42.8% year on year. Varroc Engineering reported revenue of Rs 2,640.44 crore, up 29.9% year on year. Greaves Cotton reported revenue of Rs 985.06 crore, up 29.0% year on year.
Do powertrain and mobility component stocks pay dividends?
Ans. Yes, all three companies pay dividends. The dividend yield is 0.98% for Munjal Auto, 0.19% for Varroc and 0.95% for Greaves Cotton, based on dividends declared for FY26.
How can I invest in powertrain and mobility component stocks in India?
Ans. You can buy powertrain and mobility component 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.
