Minda Industries delivers strong Q3FY18 numbers

Minda Industries reported its results for the quarter ended December 31, 2017 on Tuesday. The company's consolidated revenue for the quarter came in at Rs. 1,056.16 crore, registering 15.8 per cent yoy increase.

EBITDA for the quarter rose by 27.2 per cent yoy to Rs. 126.38 crore with a corresponding margin expansion of 107 bps. EBITDA margin for the quarter stood at 12 per cent. This margin expansion was aided by favourable movements in inventories. The PAT for the quarter came in at Rs. 66.1 crore, yoy increase of 27.1 per cent. This was partly led by 18 per cent yoy decline in interest expenses.

The company's Board of Directors have approved and declared an interim dividend at 60 per cent i.e. Rs. 1.20 per share, on the face value of Rs. 2 each. This payment will be made on or before 14 March, 2018.

Minda Industries is a supplier of automotive solutions to original equipment manufacturers. The Company offers a range of products across various verticals of auto components such as switching systems, acoustic systems and alloy wheels, among others.