KRChoksey: Minda Industries’ Visibility Of Revenue Remains Strong
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Minda Industries Ltd. reported consolidated revenue decline of 71% YoY and (down 68.8% QoQ) to Rs 4171.10 million, led by Covid-19 shutdown.
Two-Wheeler industry volumes declined by 78.5% and four-wheeler industry volumes are down by 84% YoY.
Gross profit margin for the quarter came in at 42.05%. For Q1 FY21, Ebitda loss was Rs 714.90 million as compare to positive Ebitda of Rs 1722 million in corresponding quarter last year.
Ebitda margin was negative at 17.14% for Q1 FY21 compare to positive Ebitda margin of 11.96% in Q1 FY20.
Loss from joint venture/associates was Rs 162.10 million compare to profit of Rs 59 million in Q1 FY20.
Net loss for the quarter was Rs 1183.30 million compare to profit of Rs 534.80 million in corresponding quarter last year.
Earning per share for the quarter stood at Rs (4.51) as against 2.04.
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