Minda Corp On The Recovery Path: Dolat Capital 
Workers at Spark Minda facility. (Source: Company website)

Minda Corp On The Recovery Path: Dolat Capital 

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Dolat Capital Report

Minda Corporation Ltd. reported better than expected numbers in Q3. Revenue grew 36% YoY driven by strong aftermarket (up 55% YoY) and export sales (up 25% YoY).

Ebitda grew 13% YoY with margin at 11% (up 90 basis points QoQ/down 231bps YoY), benefit of operating leverage was offset by high raw material cost.

Net profit grew 11% YoY suppressed by higher interest cost and lower other income.

Mechatronics business grew 32% YoY supported by higher aftermarket and exports sales.

However, margin contracted 250bps YoY to 13.8% led by weaker product mix and commodity inflation.

Click on the attachment to read the full report:

Dolat Capital Minda Corp Q3Y21 Result update.pdf


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