Minda Industries Q2 Review - Investment Thesis Intact, Valuations Limit Upside: ICICI Direct

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 robust Q2 FY22 results.Consolidated Ebitda for Q2 FY22 was at Rs 228 crore with attendant margins up 162 basis points QoQ to 10.8%. Margin expansion on a QoQ basis was achieved despite sharp gross margin contraction of 210 bps on the back of strong operating leverage gains that were higher than expectations.Reported consolidated profit after tax for the quarter was at Rs 94.7 crore versus Rs 15.4 crore in Q1 FY22. Profitability beat tracked higher-than-expected revenues and margins as well as substantial improvement in profit contribution from associates/joint ventures - which for the quarter were at ~Rs 21 crore.With recent raise of equity in the form of qualified institutional placements amounting to ~Rs 700 crore, Minda Industries has retired debt to the tune of ~Rs 350 crore in H1 FY22..Click on the attachment to read the full report:.DISCLAIMERThis 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.

Minda Industries Q2 Review - Investment Thesis Intact, Valuations Limit Upside: ICICI Direct

Minda Industries Q2 Review - Investment Thesis Intact, Valuations Limit Upside: ICICI Direct

Choose a plan