Q1FY22 Result Update - Minda Industries - ICICI Direct

The company posted subdued Q1FY22 results.

- Consolidated revenues at Rs. 1,603 crore were down 28.4% QoQ

- EBITDA margins declined 432 bps sequentially to 9.2%

- Consequent consolidated PAT was down 89% QoQ to Rs. 15.4 crore

Key triggers for future price performance

- We build 17.2% FY21-24E net sales CAGR riding on OEM ramp up post Covid, focus on premiumisation (content per vehicle), new product launches

- Minimal EV risk to portfolio; actively working on EV-specific products

- Increasing share of new age products (sensors, alloy wheels)

- Mix, operating leverage to push margins, RoCE to 13.8%, 18% (FY24E)

- B/s strength to sustain with FY22E debt: equity placed at 0.3x

For details, click on the link below: Link to the report

Shares of Minda Industries Ltd. was last trading in BSE at Rs. 731.65 as compared to the previous close of Rs. 695.1. The total number of shares traded during the day was 59942 in over 3510 trades.

The stock hit an intraday high of Rs. 745 and intraday low of 696.1. The net turnover during the day was Rs. 43003401.

Source : Equity Bulls

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