Minda Industries reports good set of numbers for Q3FY19

Minda Industries reported strong set of numbers in the third quarter of FY19. The company’s consolidated revenue surged 39 per cent, led by strong growth in OEM and aftermarket business.  

The company’s consolidated revenue from operation surged 39 per cent to Rs. 1,470 crore from the corresponding quarter of previous year. This was led by strong growth in OEM and aftermarket business. Also, inclusion of acquired MRPL and I-Sys RTS has further boosted revenue growth. 

In terms of segment wise performance, switches business (36 per cent of overall revenue) posted growth of 73 per cent yoy to Rs. 539 crore; lamps business registered 18 per cent yoy to Rs. 341 crore, while horns/ acoustics business and other business (alloy, wheel/ aluminum die casting/ blow molding) recorded 3.4 per cent and 52 per cent yoy growth, respectively. 

EBITDA during the quarter too increased 43 per cent to Rs. 180 crore from the corresponding quarter of previous year with a corresponding margin expansion of 30 bps. EBITDA margin for the quarter stood at 12.2 per cent. 

The net profit for the quarter grew 23 per cent yoy to Rs. 81.3 crore. Net profit margin for the quarter stood at 5.4 per cent. 

The company's board has declared an interim dividend of Rs. 0.45 per share. 

In response to this result, the stock of Minda Industries was trading positive and surged 2.3 per cent to touch intraday high of Rs. 297 apiece. At 11.14 hours, the stock was trading at Rs. 295 apiece, up by almost 1.6 per cent from previous close.