Minda Industries Q2 Review - Focus On Building Up EV Portfolio; Sharp Run-Up Limits Upside: Systematix
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.
Systematix Research Report
Minda Industries Ltd.'s Q2 FY22 operating performance was 7% ahead of consensus and our estimates on a strong topline show.
Lower production by original equipment manufacturers due to the on-going semiconductor chip shortage impacted Ebitda margins.
The constraints should ease in H2 FY22 and lead to a recovery in profitability.
Minda Industries has added three new components in production and two under development for the electric-two-wheeler/electric-three-wheeler segments, which increases its target content per vehicle to Rs 19,000 (versus Rs 7,300 in internal combustion engines).
While we remain enthused by the new product development (especially electronics) in the electric vehicle space, the sharp run-up in the stock price provides limited upside.
Click on the attachment to read the full report:
This report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BloombergQuint.
Users have no license to copy, modify, or distribute the content without permission of the Original Owner.