BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
KRChoksey Report
Minda Corporation Ltd. reported consolidated revenue of Rs 6561 million which was up by 17.47% YoY (up 268.68% QoQ), It significantly outperformed industry growth driven by increased content per vehicle and new order wins. .
Gross margin however turned adverse (at 36.5%, down 210 basis points YoY) due to the impact of a lag in raw material cost indexation given rising commodity costs and BS-VI costs, and an adverse mix.
The consolidated Ebitda for the quarter stood at Rs 665.5 million which is down 0.83% YoY.
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