Currently the fundamental growth drivers of Munjal Auto; Specialists inexhaust system manufacturing, depends on the performance of Hero MotoCorp (their group company) and the auto industry as a whole. Considering favorable rural demand and economic conditions, the revenue is expected to grow at a CAGR of 11% from FY13-17E with RoE reaching 20.3% by FY17E from the prevailing 18% in FY15.

Munjal Auto Industries ltd. (MAIL) is a leading auto component manufacturing company in India and is a part of the famous Hero Group of companies. The company primarily manufactures...