Minda Industries Ltd., incorporated in the year 1992, is a Mid Cap company (having a market cap of Rs 14424.46 Crore) operating in Auto Ancillaries sector.
Financials
For the quarter ended 31-12-2020, the company reported a Consolidated Total Income of Rs 1811.73 Crore, up 22.62 % from last quarter Total Income of Rs 1477.57 Crore and up 35.39 % from last year same quarter Total Income of Rs 1338.14 Crore. Company reported net profit after tax of Rs 120.76 Crore in latest quarter.
Investment Rationale
The brokerage is bullish on MNDA’s ability to comprehensively beat industry performance by 1) Leveraging the broader vehicular trends of the industry including EV, Premiumization, and Automation 2) Strategic inorganic acquisition to enhance product offerings and gain market share 3) Maintaining balance sheet discipline while optimizing leverage, 4) Investing In R&D to augment technological prowess 5) Tapping deep-rooted relationship with OEM’s to increase ‘kit value’, and 6) Launching new product lines that would aid in business growth and margin expansion.
Promoter/FII Holdings
Promoters held 70.9 per cent stake in the company as of June 30, 2020, while FIIs held 10.26 per cent, DIIs 7.47 per cent and public and others 11.4 per cent.
