Fundamental Analysis

1 stock recommendation each based on Fundamental and Technical analysis along with timely review to provide you with handsome profits.

MINDA CORPORATION LTD 
Ticker : 538962  
BUY: ₹363.70
Target:  ₹415

Minda Corporation Ltd is a leading Indian automotive component manufacturer with a strong national and international presence. It serves as the flagship company of Spark Minda, a former member of the renowned Minda Group. On a consolidated basis in Q1FY24, the company reported sales of Rs 1,074.51 crore, marking a 6.4 percent surge, while the operating profit grew by 5.2 percent to Rs 116.59 crore compared to Q1FY23. However, the net profit decreased by 11.9 percent to Rs 46.58 crore. The company aims to achieve a 20-25 percent revenue growth in the next three years and is dedicating 2-3 percent of its top line to R&D and new technology. They have recently filed four patents and secured lifetime orders exceeding Rs 3,000 crore. They are also diversifying their product portfolio and exploring opportunities in the EV and ADAS segments, aiming to gain a larger market share as the EV market gradually improves. Hence, we recommend a BUY.