Minda Corp reported 36.10% growth in total revenues for the Dec-20 quarter on consolidated basis at Rs739.80cr. Minda operates in the manufacture of spark plugs for automobiles, which saw a sharp spike in OEM demand as auto manufacturing numbers got a boost from the festive season. That broadly explains the sharp spike in revenues in the quarter on a yoy basis.
The consolidated Profit after tax (PAT) for the Dec-20 quarter was up 11.04% at Rs49.48cr. The growth in profits was much slower than the growth in sales as there was a sharp spike of 50% in inputs and packaging materials during the global supply chain disruptions post the impact of the pandemic on China. As a result, the PAT margins actually tapered from 8.20% in Dec-19 to 6.69% in Dec-20.
Financial highlights for Dec-20 compared yoy and sequentially
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Minda Corp |
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Rs in Crore |
Dec-20 |
Dec-19 |
YOY |
Sep-20 |
QOQ |
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Total Income (Rs cr) |
₹ 739.80 |
₹ 543.59 |
36.10% |
₹ 656.10 |
12.76% |
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Net Profit (Rs cr) |
₹ 49.48 |
₹ 44.56 |
11.04% |
₹ 25.82 |
91.63% |
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Diluted EPS (Rs) |
₹ 2.15 |
₹ 1.96 |
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₹ 1.14 |
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Net Margins |
6.69% |
8.20% |
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3.94% |
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