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  • 30 Jun 2022
  • ICICI Securities

Minda Industries acquires stake in FRIWO AG, Germany

UNOMINDA - 550 Change: 28.10 (5.39 %)

News: In a regulatory exchange filing Minda Industries has informed exchanges about acquisition of ~4.5 lakh shares i.e. 5.24% stake in FRIWO AG, Germany for a consideration of Euro 14.99 million (~Rs 125 crore).

Views: This comes in tandem with its earlier announcements made in December 20 21 where it disclosed its partnership with FRIWO to develop BMS and off board chargers primarily for 2-W & 3-W. This stake buy is aimed at strengthening the relation between 2 companies. Current acquisition is done at Euro 33.4/ share with current closing price being Euro 31.2/ share. FRIWO currently realises ~20% of sales from e-mobility with total annual sales pegged at Euro 100 million and market capitalisation of Euro 255 million.

Impact: Neutral

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Minda posts healthy numbers for Q4FY22

Minda Industries posted a healthy performance for Q4FY22 with consolidated revenues at Rs 2,415 crore, up 10.7% QoQ, EBITDA for the quarter was at Rs 275.5 crore, with corresponding EBITDA margins at 11.4%, up 60 bps QoQ. Consolidated PAT in Q4FY22 was at Rs144.4.3 crore up 42.5% QoQ (supported by higher other income and profit from associates)

25-May-2022 09:00