Q4 Results: Minda Industries Will Focus On Exports In FY20, Says Sunil Bohra
Minda Industries Ltd. expects its exports to improve in the ongoing financial year, according to its group Chief Financial Officer Sunil Bohra.
The auto components maker is eyeing 15-20 percent in sales from the overseas market, Bohra told BloombergQuint. The company, he said, is looking to expand in south east Asia, a market where it already has a significant presence.
The company’s debt in financial year 2018-19 was higher due to increased capital expenditure in mergers and acquisitions, Bohra said, adding that he expects new acquisitions to add on to the revenue growth by over Rs 200 crore.
Q4 Earnings Highlights (YoY):
- Sales rise 8 percent to Rs 1,486 crore
- Profit after tax plummets 46 percent to Rs 74 crore, due to base effect
- Company had an exceptional gain last year
- Ebitda rises 9 percent to Rs 185 crore
- Margin expands 10 basis points to 12.5 percent
Watch the full interview here: