Minda Industries Delivers Five-Star Q3 Performance; Outstanding Growth To Continue: ICICI Direct
Automotive components stacked for a photograph. (Photograph: Luke Sharett/Bloomberg)

Minda Industries Delivers Five-Star Q3 Performance; Outstanding Growth To Continue: 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 Industries Ltd. reported strong Q3 FY21 results. Consolidated revenues jumped 35.8% YoY to Rs 1,802 crore versus approximately 17% underlying original equipment manufacturer volume growth.

Margin performance was sustained QoQ at 14.7% with slight betterment in gross margins and employee cost savings cancelling out increase in other expenses.

Consolidated profit after tax rose ~142% YoY to Rs 108 crore (profit from subsidiaries and associates at Rs 9 crore versus Rs 1 crore in Q3 FY20).

The company declared interim dividend of Rs 0.35 per share for FY21.

Click on the attachment to read the full report:

ICICI Direct Minda Industries Q3FY21 Result Update.pdf

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