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.
Systematix Report
Minda Corp.'s Q2 FY22 consolidated revenue grew 12% quarter-on-quarter to Rs 7.3 billion against an industry decline of 3%, driven by higher content per vehicle (recovery in commercial vehicles) and increased aftermarket sales.
Ebitda margin at 10.6% was ahead of estimate and 500 basis points higher quarter-on-quarter on operating leverage benefits and improved product mix.
Minda has developed several next-gen electric vehicle components and has strong order wins worth Rs 7.3 billion from Ola Electric, Bajaj Auto Ltd., etc. during year-to-date FY22 (Rs 10 billion in total).
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