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Dolat Capital Report
Minda Corporation Ltd. exhibited a stable performance in Q4. Consolidated revenues excluding Minda Instruments Ltd. stood at Rs 8.09 billion (up 19.4% YoY), fall in revenue from passenger vehicles/two-wheelers segment was offset by uptick in revenue from commercial vehicles and aftermarket segment.
Ebitda margin stood at 10.9% at 882 million (flat YoY). Management is confident of outperforming the industry growth aided by strong.
Aftermarket, rise in export, increasing revenue from commercial vehicles, incremental revenue from new products (electric vehicles) along with new customer wins.
Minda Corp is focused on premiumisation, light weighting and increased electronic content offering in its existing product portfolios such as key-less solutions, wiring harnesses, digital clusters, door handles and cyber security.
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