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Systematix Research Report
Minda Industries Ltd. delivered a mixed set of Q1 FY22 numbers wherein topline beat our estimates but Ebitda margin was below expectations.
The management highlighted that new order wins remain robust across segments and the company is embarking on the next leg of growth capex.
It expects strong business growth in the medium-term driven by a ramp-up in the alloy wheel segment, sensors and order wins in the electric vehicle segment.
It has raised Rs 7 billion via qualified institutional placements for preference shares repayment in lieu of Harita acquisition and growth capex.
Quicker recovery in the passenger vehicles industry from the second wave of Covid-19 is benefiting Minda Industries.
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