Minda Corp Q4 Review - Fundamentally Exceptional Quarter: KRChoksey

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KRChoksey Research Report

Minda Corporation Ltd.'s consolidated revenue for Q4 FY21 grew by 48% YoY (up 7.3% QoQ) to Rs 7.9 billion due to transition from B-IV to BS-VI led by increased wiring harness content in two-wheeler category and also increase in aftermarket sales and exports.

Consolidated Ebitda for the quarter stood at Rs 89 crore; Ebitda margin stood at 11.2% (up 390 basis points YoY) due to focus on consistent and sustainable market-beating growth.

Interest expenses declined by 30.9% YoY to Rs 76 million from Rs 110 million.

Profit before tax for the quarter stood at Rs 644.2 million (up 193.6% YoY / up 12% QoQ).

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