Minda Corp: Hard Calls Taken, Well Poised To Grow On Clean State, Says ICICI Direct 
An employee assembles components onto an engine in India. (Photographer: Udit Kulshrestha/Bloomberg)  

Minda Corp: Hard Calls Taken, Well Poised To Grow On Clean State, Says ICICI Direct 

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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.

ICICI Direct Report

Minda Corporation Ltd. is the flagship company of the Spark Minda group and is a leading auto ancillary player supplying key auto components to domestic and global original equipment manufacturers.

Post its restructuring i.e. hive off of the European business, it has a well-diversified presence across segments with two-wheeler, commercial vehicle, passenger vehicle and aftermarket constituting approximately 53%, 23%, 10%, 14% of its sales (FY20), respectively.

In terms of geographies, it realises ~85% of sales from India and rest ~15% from overseas.

Click on the attachment to read the full report:

ICICI Direct Minda Corp Company Update.pdf

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