Dolat Capital: Minda Corp Q2 Review - Margin To Be Under Pressure In Near Term   
Workers at Spark Minda facility (image: Company website)

Dolat Capital: Minda Corp Q2 Review - Margin To Be Under Pressure In Near Term   

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.

Dolat Capital Report

Minda Corporation Ltd. posted weak margin performance in Q2 FY21.

Revenue grew 17% YoY while Ebitda remain flat dragged by contraction in gross margin.

Ebitda margin stood at 10% (down 187 basis points YoY) led by weak margin in both mechatronics and wiring harness segment.

Net profit de-grew 40% YoY suppressed by higher interest cost.

Mechatronics business grew 14% YoY supported by higher aftermarket and exports sales.

However, margin contracted 110 basis points YoY to 12.7% led by weaker product mix and commodity inflation.

Click on the attachment to read the full report:

Dolat Capital Minda Corp Q2Y21 Result Update.pdf

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